Kalameghalam / B2B marketing is currently one of the most important tools for the success of any business. Marketing is essentially the ability to find customers and create a target market within the community and promote and sell products to them. In other words, marketing is the process of convincing customers why they should choose […]
Kalameghalam / B2B marketing is currently one of the most important tools for the success of any business. Marketing is essentially the ability to find customers and create a target market within the community and promote and sell products to them. In other words, marketing is the process of convincing customers why they should choose your product or service among all competitors. In other words, marketing is the way of establishing communication in order to convince customers, which ultimately, if done correctly, leads to increased sales and profitability
However, marketing is a concept that goes beyond this and is defined as the management of relationships with customers. The American Marketing Association defines marketing as activities, institutions, and processes for creating, communicating, delivering, and exchanging valuable offerings to customers, partners, and society as a whole. In summary, marketing is a combination of art and knowledge to create and deliver value. The goal of marketing is to identify needs and gain profits simultaneously
With the development of economics and marketing science, new marketing methods and techniques are emerging in the market. One of the most important marketing methods is B2B marketing, also known as business-to-business marketing. Although it has a long history, it is currently not widely used. The history of this type of marketing dates back to ancient times when humans exchanged goods to meet their needs. B2B marketing refers to a type of business that promotes its products and services to other businesses. In this type of marketing, the target market and customers are different teams and companies
One of the important advantages of B2B marketing is a significant increase in sales volume compared to direct sales. When you successfully implement a B2B marketing campaign, you ultimately succeed in selling your products in bulk. In this case, although you may only attract one customer, due to the high volume of transactions, you have attracted several active customers. Even if you have to reduce prices and receive minimal profit from these contracts in order to outperform competitors, the increase in sales volume allows for potential profit growth
The second advantage of this method is the creation of loyal and consistent customers. Since our customers are also companies that provide services to others, they are obliged to order and purchase specific products
The third advantage of B2B marketing is that, since our product is used by other companies, it can have a positive impact on direct sales to ordinary individuals. Firstly, if successful in obtaining contracts with reputable and well-known companies, we can gain credibility for our products. Secondly, due to the services provided by companies to the general public, this method can introduce our products and brand to a large number of people
The fourth advantage is cost savings and resource control. In this type of marketing, the sales volume is higher than conventional methods, resulting in cost savings. Additionally, a significant portion of your activities in this type of marketing are automated and pre-planned, which allows for cost savings and eliminates the need for resources to attract new customers
Generally, this type of marketing will progress day by day due to the high social status that results from increased sales and bulk sales, which boosts the confidence of sellers
However, in this marketing method, two factors must also be considered. First, our product quality must be so high that a company interested in entering into a contract with us will go through all stages. Second, the prices we offer must be fair and flexible enough to compete with other competitors
Dr. Melika MolkAra – researcher and business strategy consultant
