Business to business marketing
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Business to business (B2B) marketing is a key driver of strong customer relationship marketing. How well do you connect with your clients, and do you know what influences and impacts their decisions to work with you. Download this Prana developed resource to help you...
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Business to business marketing
- 1. build your brand grow your sales strategy execution results
- 2. Business to Business Marketing 101 Jainita Khatri jkhatri@pranabusinessconsulting.com 083 414 9796 @PranaBusCons
- 3. Prana Business Consulting A customer relationship management and marketing organization. Good marketing brings your customers to you. It creates demand and awareness for your product or service. Building a strategic partnership with customers is all about aligning and understanding goals, to ensure a win-win scenario. Translating ideas into action. Driving consumer delight through lively and engaging media.
- 4. Why are we in business?
- 5. Core to all successful business is Sales Profit Mastering the relationship Market Share Innovation Competitive Advantage
- 6. B2B Marketing Defined • Is the marketing of products to businesses or other organisations – for use in production of goods, – for use in general business operations • (e.g. office supplies) – for resale to other consumers • (e.g. wholesaler selling to retailer)
- 7. B2B vs. B2C Marketing Seller Buyer Seller Supply Chain Buyer Eg. •Eskom and City of Johannesburg •Google and “Joe’s B&B” •Coca-Cola and Pick n Pay Eg. •Eskom,City of Johannesburg and Joe Public •Intel and Microsoft and you •Coca-Cola and Pick n Pay and you
- 8. B2B vs. B2C B2B B2C Market Characteristics Geographically Concentrated Relatively few buyers Geographically Dispersed Mass market Product Characteristics Technically complex Customized Standard Service characteristics Service focus Timely Availability Quick response Less important but this is changing Buying Behaviour Involvement from various functional areas Purchase decisions are performance based and rational Stable interpersonal relationships Involvement of family members (personal) Purchase decisions are based on physiological /social/psychological needs Non personal relationship (but emotional connection)
- 9. B2B vs. B2C B2B B2C Channel Characteristics More direct Fewer intermediaries Indirect Multiple layers Promotional Characteristics Personal selling Mass media Price characteristics Competitive bidding Negotiated prices List prices or RSP
- 10. B2B Strategies • Differ based on the industry • Are usually unique to the buyer and seller concerned • Are complex in nature • In larger companies are influenced by the principles of Customer Relationship Management
- 12. Characteristics of Business Markets • Fewer, larger buyers • Close supplier-customer relationships • Professional purchasing • Many buying influencers • Multiple sales calls • Derived demand • Inelastic demand • Fluctuating demand • Geographically concentrated buyers • Direct purchasing
- 14. Key Account Management • Using B2B marketing and CRM techniques to manage customer needs, develop long term mutually beneficial solutions using a combination of hard and soft skills
- 15. Top Business Marketing Challenges • Expand understanding of customer needs • Competing globally as China and India reshape markets • Mastering analytical tools and improve quantitative skills • Reinstating innovation as an engine of growth • Creating new organizational models and linkages • Managing B2B in an increasingly technologically driven world
- 16. Skillset in B2B Marketing Hard Skills • Technical knowledge • Business knowledge • Decision making ability • Clear Communication • Presentation skills • Negotiation Soft Skills • Likeability • Persuasion • Ability to build trust • Conflict resolution • Tolerance for aggressive behaviour and other buyer tactics
- 17. What is Organizational Buying? • Refers to the decision-making process by which formal organizations establish the need for purchased products and services, and identify, evaluate, and choose among alternative brands and suppliers.
- 18. Factors affecting the buying process Buying Process Organisational Culture Buying CentreBuying Situation
- 19. Organisational Culture • Straight • Owner dominant • Progressive • Collaborative • Budget driven • Innovative culture
- 20. Buying Situations Buying Situations New Buy Modified BuyStraight buy
- 22. Sales Strategies Small Sellers Large Sellers Key Buying Influencers Multilevel In-depth Selling
- 23. Establishing Corporate Trust and Credibility Expertise LikeabilityTrustworthiness
- 25. Factors Affecting Buyer-Supplier Relationships Availability of alternatives Supply market dynamism Complexity of supply Importance of supply
- 26. B2B framework for FMCG brands Product Price Consumer Demand CRM Customer Support Customer Service Personal Selling Company Policies Feedback Loop Company Culture Relationship TrustNon subjective Tangible Elements Subjective Tangible Elements Intangible Elements Communi cation Evaluative Criteria
- 27. B2B framework for FMCG brands Product Price Consumer Demand CRM Customer Support Customer Service Personal Selling Company Policies Feedback Loop Company Culture Communi cation Evaluative Criteria Owned by seller Owned by end consumer Owned by buyer
- 28. Two routes to the B2B marriage
- 31. Business is about action Framework and ideology Market Readiness Resource Sales Targets
- 32. “There is only one profit centre, and that is the customer” – Peter Drucker Jainita Khatri Mobile: +27 (0) 83 414 9796 Email: jkhatri@pranabusinessconsulting.com www.pranabusinessconsulting.com Twitter ID @PranaBusCons