First, thank you for reading Exabytes’ complete B2B Marketing Guide for 2022.
Many businesses are familiar with the term ‘B2C marketing, but not so with ‘B2B marketing’. It does not matter if you are running a B2C or B2B business, this marketing guide will be useful to you.
For those who are running a B2B business now, use this guide to improve and expand your existing business. For those who are running a B2C business now, it’s high time to explore and venture into B2B and expand your business globally.
Since the Covid-19 pandemic, Malaysia’s export has recorded significant growth. If you are still focusing on the local market only, we hope you can make full use of this guide to see the vast potential and opportunities in international markets.
Take your business to the next level in 2022.
In this marketing guide, you will discover:
Table of Contents
1. Common Misconceptions
There is a misconception that what works in B2C will also work in B2B. In fact, there are some major differences between B2B and B2C. The target markets and audiences for these two business models are very different. Therefore, it is not advisable to apply the same marketing strategies to them.
2. What Is B2B Marketing?
B2B marketing is known as business to business marketing. It can be defined as marketing the products or services to other businesses for use in production, general business operations, or resale to other consumers.
B2B is about satisfying the needs of other businesses. B2B buyers purchase with the intention to maintain and improve their operations by adding value, moving down the supply chain and finally reaching the end-users. Hence, it is also known as promoting products and services to other businesses in huge quantities. The characteristics of B2B include long sales cycles, greater complexity compared to B2C, and the process usually involves multiple decision-makers.
3. How Does B2B Marketing Work with the Right Practices?
Before we move on to discussing the B2B marketing strategies, let’s take a look at the right practices that can make B2B marketing work efficiently in 2022.
Target your audience smartly
As we know, the target audience of B2B and B2C is different. As such, the marketing messages, pricing and overall marketing strategies should be different too. To get started, it is important to understand your existing customers before you identify your target audience.
Start by looking at the profile of your loyal customers and segment them into groups based on their similarities. It is important to identify: (a) customer groups that contribute to higher gross revenue with the least amount of effort (b) customer groups that are loyal and keep the business running although they might not contribute to high gross revenue. This allows you to plan well to reach a larger portion of your target demographic in 2022. By segmenting your customers, you can also find out which customer groups require a higher cost to convert and decide whether to continue promoting to them or not.
Moreover, you can obtain useful data and insights about your existing customers from social media platforms such as Facebook’s Audience Insights and Google Analytics. This is another excellent approach to learn more about your prospective audience so that you can narrow it down to target those who are “ready to buy right now.”
Done right, B2B marketing can get potential customers interested in your products or services. Next, nurture them and turn them into real customers.
Understand the needs and wants of your potential customers
After you have a clear picture of your target audience, you must identify their needs and wants. Learning what is essential to them, what keeps them operating their business and recognising the support they require to succeed can help you convert potential customers and retain your existing consumers.
Most B2B buyers are looking for partners who can play a role in their operations and show a commitment to helping them to develop and create a win-win situation for both parties. Therefore, it is important to ensure that your potential customers understand who you are, the way you operate your business and the values you can deliver to them. This can be done by clearly stating your goals, demonstrating how the unique selling point (USP) of your products or services can help improve their business both now and in the future. In other words, show them you are a trusted business partner that can deliver value.
Keep your prospective buyers engaged
Establishing a trust-based relationship is not enough. Bear in mind that attracting customer attention and interest is important too. If you want your potential customers to read more about your business and products, get started by engaging their interest. This can be done by creating B2B marketing campaigns that are tailored to your current customer base and constantly provide them with extra values.
Besides, keeping your brand current and fresh can help your business attract new customers and retain existing customers. You can better adapt your products and services for your customers by learning what is trending and applying it to your outward-facing content. As a result, customers’ genuine interest will increase and they are encouraged to return for more.
4. 6 Most Effective B2B Marketing Strategies That Will Work in 2022
There are over 50 types of marketing strategies you can implement to acquire new customers and build your B2B business. However, you may be unsure of which marketing strategy to apply and how to include it into your overall marketing strategy.
In this marketing guide, we are pleased to show you the top six most effective B2B marketing strategies that work in 2022. They are as follows:
Strategy #1: Email marketing
According to the report generated by Content Marketing Institute in 2020, 87% of B2B marketers stated that email is one of the top free organic distribution methods. Since the pandemic, more than 40% of marketers’ email budgets have been reduced.
Without a doubt, B2B email marketing is an essential tool in any marketer’s toolbox. You not only get to engage directly and personally with your customers, but you also get to know which customers opt-in to hear from you and interact with your message. Emails can feature special offers, new products, or valuable content to keep readers engaged with your company.
Furthermore, because you do not have to pay for printing, shipping, and ad space, it is one of the most cost-effective methods of advertisement. You can simply contact all of your customers from your contact lists.
Strategy #2: Content marketing
People nowadays are more likely to be drawn in by informative content than by promotional messages disseminated by traditional marketing. As a result, content marketing is crucial for social networking. It is one of the strategies for attracting visitors to your website, social media platforms, and blog.
B2B customers are looking for content and information that will be useful to them. The more beneficial your content is to your potential customers, the more likely it is that they will engage with your business. On your B2B blog and other outward-facing content, you should consider using a mix of informative articles and advertisements. Informative articles and blog posts have been proven to increase engagement.
Slowly, people will begin to trust and rely on your business, and it will become an opportunity to convert them into buyers. This is because the content you offer, whether in the form of blog posts, social media postings, or emails, demonstrate who you are and what you offer. As a result, they will ultimately learn something new and be convinced that you are an expert in your field.
Strategy #3: Social media marketing
Social media has changed how people communicate with one another and has become an essential element of modern life. When it comes to marketing and engaging with potential customers, social media marketing is a powerful tool that can assist you in building brand recognition by humanizing and giving your company an online personality.
You may combine social media marketing with content marketing to reach out to your customers wherever they are on social media, such as LinkedIn, Facebook, Twitter, or YouTube. Content that keeps customers interested not only generates leads for your organization but also serves as a link between you and your customers. A long-term commercial alliance can also be formed.
Strategy #4: SMS marketing
The majority of companies believe that SMS (or Short Message Service) marketing is no longer relevant in B2B. In truth, it is an important digital marketing strategy that can still produce remarkable results.
SMS marketing is a quick method for communicating a brief message to customers. You can send notifications regarding specials, early release invites, marketing campaigns that your company will hold, and more. People are increasingly embracing mobile devices for regular tasks such as texting, shopping, and browsing. It’s difficult for them not to read the messages. These messages, unlike emails, will not end up in a spam folder. As a result, individuals are more inclined to read the texts that they receive.
Strategy #5: Web push marketing
Web push marketing is a new digital marketing strategy that will be extremely effective in 2022. It is a type of notification that displays basic information about deals, sales, and other events in a desktop or mobile browser window. It seeks to reduce the time between when a potential customer sees a product advertisement and when they decide to buy it as much as possible.
Web push notifications can commonly be seen while you are visiting an online store, education websites, and so on. Based on the statistics published recently in 2021, the click-through rate of highly targeted push notification campaigns can be as high as 30%. This means you have a high chance to turn your visitors who are interested in your products or brands into subscribers and include them in your B2B journey. But you have to make sure that you have obtained their permission to send the notifications.
Strategy #6: Messenger marketing
The emergence of social media has unmistakably altered today’s business world. Messenger marketing has unquestionably become an important marketing technique. Facebook, WhatsApp, WeChat, and other mobile messaging networks allow you to access millions of people all over the world, comfortably, and quickly.
These mobile messaging networks now have a larger user base than social networking apps. They are excellent platforms for your company to enhance lead generation, drive conversions, and engage with customers. You can send marketing communications in text, audio, photo, and other formats.
Furthermore, the use of chatbots in messaging can help you enhance your customer service by giving consumers quick replies via automated messages. With this, you can give live support to your customers 24/7, and they won’t have to wait as long, especially during peak hours or during emergencies.