Understanding the “Why” Behind B2B Marketing Strategies
A crucial part of any marketing strategy is understanding a business’ target audience. Because B2B (business-to-business) companies provide products or services meant for other businesses, the typical target audience for a B2B company is c-suite executives and similar high-ranking individuals. Since B2B buyers are not average consumers, B2B marketing strategies must take a different approach than marketing strategies used for B2C (business-to-consumer) companies.
Likewise, the motivating factors for B2B buyers should influence a B2B company’s marketing campaign. B2B buyers are often decision makers with specific needs, so a good marketing strategy should play a part in taking the buyer through the purchase path. Let’s take a look at common motivating factors that encourage B2B buyers to engage in a product or service and how that consequently influences a B2B marketing strategy.
Motivating Factor 1: The Need to Solve Business Problems or Improve Operations
One of the biggest reasons why B2B buyers seek products and services is because they need to relieve a pain point in their company. This target audience often looks for solutions that will help them improve efficiency, reduce costs, or increase revenue.
Knowing that the need to fix or improve something drives the buyer’s purchase, a marketer can craft a strategy for a B2B company that highlights how the company’s products or services can meet the specific needs of the buyer. This not only helps the buyer to clearly understand why they need to invest in the product or service but also helps the company to communicate its message in a direct manner.
Motivating Factor 2: The Need to See the ROI
Similar to the previous motivating factor, B2B buyers need to see that investing in the product or service is going to benefit them. In other words, buyers need to see the ROI (return on investment). B2B buyers should be able to confidently justify their purchase to their superiors, knowing how the product or service will impact the bottom line of their business.
From a marketing standpoint, B2B companies should acknowledge this specific need of their buyer and use it as leverage in the company’s marketing strategy. By directing focus to compelling data, case studies, etc., B2B companies can easily showcase the ROI and scalability of their products and services. In this way, decision-makers can easily justify their purchases, and B2B companies can confidently display the high-impact results of their products or services.
Motivating Factor 3: The Need for Reliability and Consistency
Another motivating factor for B2B buyers is the need for reliability and consistency. B2B buyers often have long-term relationships with their suppliers, and they need to be able to trust that the products or services they are purchasing will meet their expectations. Remember these buyers are not only investing in the product or service, but they are investing in your company and your team.
Because buyers have the need to develop a fruitful relationship with their supplier, B2B companies should focus marketing efforts on building trust and credibility with their target audience. Using this motivating factor as fuel, marketers can develop a strategy that hones in on excellent customer service, which satisfies the buyer’s need for peace of mind.
B2B Marketing Thrives Off of the B2B Buyer’s Needs
B2B buyers are motivated by a variety of factors that influence their purchasing decisions. As marketers, we understand that these motivating factors can create the foundation for a successful B2B marketing strategy, helping B2B companies to make sales and satisfy clients.
At EWISE Marketing and Communications, we’ve worked with many B2B companies, helping them to identify their audience’s needs and corresponding marketing strategies and tactics to help the company be successful. If you are a B2B business owner looking to create a marketing strategy focused on your client’s needs, contact us. Our marketing consultants can help you align your business goals with your marketing efforts.