What Is Business Marketing?
Business Marketing 101
Without promoting a business, the business can’t be developed in the industry. Business marketing is used to promote a business. This is where business marketing comes in. Business marketing is a marketing practice of businesses that sell products or services to other companies that resell them or use them to support their works. For example, an office supply business would sell its products to other businesses but not to consumers. When you sell to consumers, your marketing efforts would be targeted at businesses and not consumers. This type of marketing is commonly known as B2B Marketing (Business-to-business.) Trade shows are a common marketing strategy for business marketing, but really internet marketing is the heart of business marketing. With 93 percent of business buyers starting their product research on search engines, the use of internet marketing strategies such as SEO is essential.
So, you want to implement strategies SEO…where do you start? The best option for businesses today (especially those without a strong marketing team) is to work with a marketing agency. A marketing agency works with a business marketing and consumer marketing. Marketing agencies are experts in the marketing industry and have a team of professionals that work together to develop a successful marketing strategy, implement it and measure the effectiveness of the strategy.
Marketing Agencies and What to Expect
Once you have selected the right marketing agency for your business, the agency will begin with an introductory interview. The goal of this interview is to understand your business better, what you do, what your business goals are and what your goals are from your marketing strategy. From there, the marketing agency will conduct thorough research that will help the agency to develop a strong marketing strategy for your business. In this research, the marketing agency will determine what your competitors are doing. By looking to your competitors, the agency will be able to see what marketing tactics are effective in the industry, what isn’t working for competitors’ marketing, and what the trend is when it comes to marketing in your industry. In addition to researching your competitors, the agency will find out where your audience is and the best way to deliver a message to them. In research, a marketing agency typically conducts an internal audit to evaluate your current efforts to determine what has been successful and what hasn’t.
Once all this research is completed, a marketing strategy that is tailored to your business (based on research) will be created. Rewind a few years and business marketing was all about trade shows, cold calls and business were done face-to-face. With digital marketing, there is a whole new strategy process. The fact is, half of the B2B buyers are millennials. Millennials are different than most generations, and they hate cold calls and prefer all communication to be done through the computer. In addition, the modern B2B buyer does all of their research on their own. Almost all of the research is done online. Needless to say, your marketing strategy will be built up the idea of research and discovery.
Business Marketing and Its 3 Components
Demand Generation
Your business marketing plan should involve 3 components in some sort of way. The first is demand generation. Demand generation is all about building awareness about your business. Brand awareness involves a variety of components. When building your brand’s awareness, the very first thing that should be developed is your identity and image. If you are working with a marketing agency, they will most likely ask you about your company’s vision and values. This is because your business marketing plan must align with how you envision your business. An essential part of building brand awareness is increasing your social media presence. The importance of social media is crucial for a business and is how businesses build relationships with consumers. There are many opportunities for social media presence for a business’ success. One of the biggest advantages of social media is the wide reach that is enabled. Unlike direct mail or television ads in the past, you no longer have to spend a ridiculous amount of money to reach consumers. Not only is it more affordable, but you are now able to target your audience directly, making your business marketing strategy more effective than ever.
Other strategies for demand generation include inbound marketing methods. Inbound marketing methods also help to build awareness but work to turn visitors into customers. Included in this method are blog content, email marketing and website/ SEO development. If you are up to date in the marketing industry, some of these methods might look very familiar to you. Why? Because they have become what marketing is all about! With 92% of online users using email, email marketing has produced excellent results for businesses (not to mention it has a high ROI.) In addition, the average person today receives its news and information through the internet. The first-place people go to today for information is Google. That is why SEO has become vital for every business. The goal in the SEO industry is to have your business’ website come up first on search engines results. Most people do not search further than the first 4 pages. So, if you do not rank on these first four pages, your website will be difficult to find. Blogs have become another essential part of a business marketing strategy. Not only do blogs provide more information for your consumers, but blogs provide more content for Google to recognize, which will help to boost your SEO efforts. SEO and blog content combined together will help increase your brand awareness.
Lead Generation
The second component of your business marketing is known as lead generation. Lead Generation is exactly what it sounds like…using digital channels to generate leads. Lead Generation works for hand in hand with inbound marketing strategies (as noted above.) The way it works is a visitor discovers your business through one of your digital channels. This could be a blog, social media page or your website. Included on these digital channels should be a call-to-action button. This is usually a hyperlink or image that a user clicks to know more information or buy a product. This call to action button will take them to a landing page which is a web page that is designed to capture lead information in exchange for an offer. This offer must be something of interest to the visitor. Usually, it is an eBook, template or a course. To receive the offer, they fill out a form that collects the user’s information in exchange for your offer. From this form, you have new client information that is a new lead.
Retention and Recovery
Lastly in your business marketing strategy is the retention and recovery component. This component is what prevents customers from being a one time- customer and builds repeat customers. There are many ways to maintain your clients. Usually, clients like to be offered something beneficial to them. This is why businesses have developed loyalty programs. Fortunately, if you have followed along and grasped the importance of research, retention won’t be difficult for you. By conducting a thorough research about your audience, you will be able to determine what appeals to them to keep them coming back and how to continue to reach them. A study by Harvard Business School found increasing customer retention by 5% can increase profits between 25-95%. With this percentage, its no doubt your business marketing strategy needs to be able to retain customers.
When it comes to demand generation, lead generation and retention and recovery, there is a lot of work to be done to execute a successful business marketing strategy. Marketing Agencies understand all the methods and how to combine them all together to make your business marketing strategy successful. As you can see, developing a marketing strategy and implementing it, then measuring success takes a lot of time and effort. That is why most people have chosen to outsource their business marketing efforts to marketing agencies. When you work with a marketing agency, you are guaranteed results, at an affordable price. Marketing Agencies have experts in each of the areas needed for your business marketing plan. Most agencies will have a strategy manager, SEO manager, content manager, social media manager…and so on. By handing off your marketing to a team of experts, you can ensure your strategy will produce great results in a timely manner.
Joseph Studios- Marketing Experts
Not sure where to begin with your marketing strategy? Joseph Studios can help with all your digital marketing efforts. Joseph studios have a team of marketing experts. Need a strategy expert? Joseph studios have a strategy expert to conduct all research that is necessary and use it to develop a successful business marketing plan. Interested in inbound marketing and boosting your online presence? Joseph studios also have experts in email marketing, social media, SEO and content development to increase the content on your website and social media and produce impactful work that will increase your online visibility.
Joseph Studios uses an organic marketing approach. This organic marketing approach will help to increase your online visibility and audience naturally. Meaning there are no paid ads or sponsorships involved. This approach is proven to build natural relationships between a business and its client. These relationships increase businesses retention rate, so you can expect to see an increase in your long-term client list. Once you implement Joseph Studios’ solutions, you can expect to see an increase in your search ranking results, website views, customers and ultimately sales. Joseph Studios has been awarded many awards. From Top Advertising & Marketing agencies to top SEO companies, the agency’s hard work has been recognized numerous times.
Are you interested in boosting your business marketing plan and increase sales for your business? Contact Joseph Studios to talk about a business marketing strategy that can change your business!
