You may be surprised at how much your B2B strategy depends on the changes in your audience. You may not be able to reach all of your target audiences if your marketing goals are different.
In an age when customer data is readily available, there's really no excuse to not know your audience and ignore their specific pain points or motivations. Today's customers expect a personalized experience.
Create unique content that is tailored to the sales funnel. You can increase your perceived value by personalizing your marketing campaigns.
Takeaways from
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B2B marketing requires audience segmentation and personalization, as there are differences between B2C and B2B in terms of target audience, decision makers and need vs. wants.
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To conduct effective B2B market research, it is important to study existing customers, gather information from the sales team, keep up with industry trends and analyze competitors in order to better understand the audience's needs.
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B2B market research can be used to establish your target market, create buyer profiles, track customer requirements, differentiate your brand from the competition, refine offerings and monitor performance. It also helps increase ROI.
What is the difference between B2C and B2B audiences?
B2B market segmentation and B2C targetting are vastly different. Here are some of the most important points to keep in mind:
Decision makers
The decision unit in B2B is more complex. You are targeting the entire team involved in making the decision, from the VPs to the IT staff who will integrate the technology. You need to make sure that your content reflects all the people who are involved in making the decision, not just one person. It is a very different situation from B2C where an individual only considers their own needs when buying something.
Need vs. want
B2B buyers consider the needs of their business before they make a purchase. They also ensure that the product is needed. A consumer might buy what they want. There is a difference between want and need.
You can segment your B2B audience easily by identifying common needs and behavior of various business types, and then building your marketing strategies around these.
Target Audience
B2B is a very different audience than B2C. It is different in size. B2B audiences follow the 80/20 rule, whereby 20% of the population dominates business sales by 80%. Your B2B target audience is also interested in personal relationships, as contracts tend to be long-term and continue. They know each other personally and by their first names.
The B2B audience is a group of long-term customers. Relationships are stronger because they make larger purchases, which require more maintenance.
Be sure to focus your B2B research on the customer.
Image source: DivvyHQ
You can create audience loyalty by dedicating time and effort to your audience. This will lead to better relationships with them and more brand advocacy. Many B2B businesses still create marketing materials that are centered around their products and brands.
Only 53% of respondents, according to research by Content Marketing Institute say they create content more audience-centric rather than brand-centric. This means that nearly half of B2B companies are still producing brand-focused content, and ignoring the needs and interest of their audience.
It's not too late to change your B2B strategy. Here are some ways businesses can learn more about their audience:
1. Study Your Existing Audience
You may be trying to get new customers, but you shouldn't forget about your existing clients. These are perfect examples of what your target audience looks like.
Send a survey to existing customers and ask them how they feel about your customer service. Be sure to keep track of your most common responses in your market research and plan your next steps based on that. Post a survey to LinkedIn, Twitter or other social media channels if your B2B audience has a higher level of social media knowledge.
2. Get information from your sales teams
Your sales team exists for a purpose. Since they deal with customers regularly, they can contribute to the development of better customer data.
You can go one step further and gather more information if you pick up the phone. Sales representatives can contact your existing customers to get feedback for your survey. You can then determine if you have any gaps in your customer service.
3. Stay on Top of the Trends
Like any other industry, B2B has its own trends. Join groups of people who share your interests or are in the same profession as you. You can discover new technologies and trends that will make your brand stand out.
4. Consider Your Competition
Studying your direct competitors is a great way to learn more about the audience you are trying to reach (and the industry landscape as a whole). What do they do that makes customers react? You can read their case studies and testimonials. What type of information does their blog contain? This will give you a good idea of what your target audience wants.
B2B research has many benefits
This is not all for nothing. You will see real results for your business when you do market research. You can use this newly-found knowledge in a number of ways.
Establish Your Target Market
You're ready to identify your target market after analyzing your audience. You should be as specific as possible. You can use this information to help your marketing and sales teams customize their communication with prospects.
Create Buyer Personas
You can use a persona to help you visualize your audience, communicate with them, and make strategic decisions. Do not worry if you create more than one persona. You can't fit all possible characteristics into a single persona. The majority of businesses have between 3-7 different personas.
Track customer needs
You can revisit your market research periodically to see how the needs of your customers have changed over time. Recent economic conditions have made consumers more cautious with their spending. This can have a significant impact on how your target market views selling. When money is tight, the moral compass of buyers, such as their preference to invest and purchase sustainable companies, will have less influence on their purchasing decisions.
Set yourself apart from the competition
Remember when I said that you could learn a great deal from your competitors? This doesn't mean that you want to be them! You can make your brand unique by analyzing your competitors. Profit from their mistakes and successes.
Refine Your Offerings
You can make your products more attractive by taking a closer look at what your customers want. You may have been providing a case study after X months when your customers actually want more gated material for their own use.
Monitor Your Performance
You've been advised to look inwards and study your current customers as part of your research. But don't stop there. Continue to monitor the satisfaction of your customers in any way you can, and listen to their feedback. You might see a "rate you experience" popup in your SaaS interface once every few months. However, you may notice that ratings have dropped after you introduced a new uploading method. Although you were excited to add this feature, the reality is not what you expected.
Increase ROI
The big-ticket item! Any business venture's ultimate goal is to increase sales, whether directly or indirectly. B2B research can help you create data-driven marketing campaigns that are customer-centric and provide a 5x to an 8x higher return on investment than traditional methods.
Adverity Image source:
Remembering Things
Researching your competitors is a good way to gain an idea of your target market. However, keep in mind that even if your business model is similar, what works for one brand may not work for you. Each business is unique, and your audience will be too.
Doing your own primary research is the best way to find out about your audience. You can combine your primary research with secondary data from competitors to create a more complete description of your audience. Keep in mind that your marketing plan does not define your target audience. Your audience defines your marketing strategy.
The first time you saw this post, How to research your B2B audience, was on Marketing Insider Group.
Frequently Asked Questions
What does marketing have to do with business strategy?
Marketing is an essential part of every business strategy. Marketing is key to every business strategy. Marketing without sales would be pointless. Marketing is an essential part of any business strategy.
But not everyone understands the importance of marketing. Many people think that marketing is only about spending money on advertising campaigns. Marketing goes beyond that. Marketing encompasses everything you do to communicate your company's identity and position in the marketplace.
Ask yourself these questions when you think about your company: What image am i trying to portray? What will my customers think of me? How should I portray myself to the outside world?
If you don’t know the answers to these questions, you probably haven’t considered marketing.
How does search engine optimization work?
Search Engine Marketing is a key component of digital marketing. SEM can include paid-per-click ads, sponsored links and display ads, as well as paid inclusion, search engine optimization, social media marketing (SEO), video marketing, mobile advertising, and more.
What are the best digital marketing strategies that I can do from home?
Digital marketing can be a great way to reach customers who spend their most time online. You can also generate leads through digital marketing.
You can use social media platforms like Facebook, Twitter, and LinkedIn to promote your brand. You can also send emails via email marketing tools to prospects or clients.
You can also market your product and service in digital media in many other ways.
You should not have any difficulty getting started as long you are able to use these channels effectively.
Social Media Marketing is an excellent way to market your business online. It's a powerful tool to promote brand awareness as well as generate leads and sales. Here are five social media marketing strategies to help your business grow.
- Create a Facebook Fan Page – This allows you to interact directly with customers on Facebook. You can also upload content such as photos, videos, and other files.
- Promote Your Business on Twitter – Twitter is another great place to share information and connect with people. You can increase your visibility with hashtags.
- Upload videos to YouTube – People love watching videos. If they like what they see they might click to visit your site.
- Host live events – Live events allow potential clients to meet you face-to–face. They will be able to ask questions about the products and services you offer.
- Respond to Customer Reviews – Positive reviews help build trust with your clients and encourage repeat purchases. Make sure to respond quickly to any negative comments.
What are the major types of marketing?
Marketing is the act of communicating ideas, values, and messages to consumers. These days, we often hear the term “marketing” being used interchangeably with advertising. Marketing goes beyond advertising. Marketing is all communication that promotes and markets a product or service.
Three key components of marketing are branding, promotion and distribution. Branding refers to how a company identifies itself to its target audience. Promotion refers to attracting attention for your brand through paid advertising, promotions and other public relations activities. Distribution is the process of getting your message out to your target audience. You can do it through traditional media like radio, television, print, or email. However, new technologies make this easier than ever.
What is eCommerce Marketing?
Ecommerce marketing is nothing but online shopping. It is the act of selling products online. This includes purchasing goods from companies, and then selling them via the internet. If you are an individual seller, selling on eBay is possible. A business may be set up where you make a profit by selling goods. Selling products online is the best way to make money.
Here are more details on eCommerce marketing
A successful eCommerce website requires you to decide what products you want. Then, you should decide whether you want to offer only one item (like a book) or multiple kinds (such as books and DVDs).
Once you have an idea of the products you want to offer, it's time to search for suppliers. A supplier is a company which makes or sells the product that you are looking to sell. A supplier is a company that manufactures and sells the product you are looking to sell.
After finding a supplier, create a website to showcase the products and allow buyers buy them. Some suppliers provide templates; others require that you design your template. After you have your website built, it's time to market it. This could include publishing articles on blogs or forums, advertising on Google Adwords websites and sending emails relevant to contacts.
You have many options when it comes time to promote your eCommerce business. These channels include email, social media, search engines, and mobile apps.
- Email marketing is a smart choice for most companies. It's cost effective, easy to use, and delivers great results. However, it can take a lot effort and time to generate quality leads.
- Search engine optimization (SEO), is a technique that improves a website's ranking for certain keywords. It's usually done through link building, which helps pages rank higher in search engines.
- LinkedIn and Facebook are important for business promotion. These sites are used by many people every day to connect with their family and friends. Posting interesting articles on these sites can help you reach thousands of potential customers.
- Mobile apps are also a valuable tool for eCommerce marketers. People love using their smartphones and tablets to shop. A mobile app lets you reach customers no matter where they are.
eCommerce has grown to be a huge business. There are many methods to promote your business. Choose wisely so you can reap the benefits of eCommerce marketing.
What type of eCommerce Marketing Strategy should I follow?
There are three types of eCommerce marketing.
- Direct marketing
- Search Engine Optimization, (SEO)
- Social Media Marketing
Direct marketing is sending emails directly to buyers. Emails could include coupons, discounts, or special offers. This marketing strategy aims to build customer loyalty.
Search engine optimization works by improving the ranking of your website in search engines like Google, Bing, Yahoo, etc. More people will find your site if it appears near the top when they search for keywords that are related to your product or services.
Social media marketing uses websites such as Twitter, Facebook, Pinterest, Instagram, YouTube, etc. To connect with your audience. It is easy to use and free of charge.
Each method has its advantages and disadvantages. SEO takes time and effort, whereas direct marketing requires little effort. However, if you only focus on one method, you won't see the full benefit of eCommerce marketing. Combining different marketing strategies is a good idea.
To promote your products, you can send emails and get high rankings in search engine results. You could also advertise through social media and then link from that page to your website.
As you can see, there are many ways to market your eCommerce store. Make sure you choose the right work for your business and stick with them. Good luck!
Statistics
- Today, 81% of brands around the world have affiliate programs. (influencermarketinghub.com)
- From 2020 to 2022, eMarketer predicts that digital marketing will grow by 36% and take up 54% of marketing budgets! (marketinginsidergroup.com)
- 81% of brands employ affiliate marketing, and eCommerce sites are particularly good candidates. (blog.hubspot.com)
- Many experts recommend you share 20% of your promotional content and 80% of other valuable content you find. (marketinginsidergroup.com)
- Meanwhile, a PartnerPath poll found that co-marketed ads help 68% of consumers arrive at a buying decision before even speaking to a salesperson. (influencermarketinghub.com)
External Links
influencermarketinghub.com
moz.com
- SEO Learning Center Moz
- [Case Study] How We Ranked #1 for a High-Volume Keyword in Under 3 Months – Moz
hubspot.com
youtube.com
How To
How to get your Google Digital Marketing Certificate & Ecommerce Professional Certificate
Google offers a free online course, Search Engine Optimization: Beginners. This is a fantastic way to learn about optimizing your website for search engines, such as Google.
The course covers important SEO topics, such as page titles and meta tags, internal linking, site speed, and internal linking. If you already have a website, these lessons will help you improve its performance.
You will receive a certificate after you have completed the course. This certificate is valid for 2 years and will allow you to add “SEO” to your LinkedIn profile.
You will also receive 10 CPE credits for completing the course. These credits are accepted at most colleges and universities.
Google Certified Partner (GCP), a paid certification program, is also offered by Google. Candidates must pass an exam and show proof of experience in order to be certified GCP.
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By: Giana Reno
Title: How to Research Your B2B Audience
Sourced From: marketinginsidergroup.com/content-marketing/research-b2b-audience/
Published Date: Tue, 25 Apr 2023 12:00:00 +0000