Good Example Of Report On B2B Business
Various forms of businesses have different targets markets in their marketing strategies; therefore, in the same light the B2B businesses must have different marketing strategies and approaches from other ventures such as B2C marketing. This paper seeks to find the nexus of the artless and the case studies provided, with the lessons taught in the marketing course. Also, the paper will analyze the significance of building and maintaining long-term customer relationships in the business markets.
The Themes of the Articles
The Scientific Explanation as to the B2B Marketers Failure to Innovate.
It is observed that most B2B business avoid including innovations into their budgets on the ground that they lack the money to do so. Nonetheless, the same business later spend money on things that contribute nothing to the progress of the business other than reassuring them of their image. The main scientific explanation to the phenomena of the illogical nature of the business keeping up the practices that offer then no results rather than innovating is simply that the marketers do not want to take the risk of failure. The simple solution to this problem is that for the B2B marketer to experience any positive results they must be willing to take the risks.
Stronger B2B Search Engine Optimization (SEO)
In the present day world the search engine rankings, determine the visibility of a site and its consequent number of visitors who access the website. The SEO strategies offered in the article provide the B2B marketers with tips on how to increase their search engine rankings. The rise in ranking is accomplished by the B2B marketer acquiring an understanding of its customers and their searching habits. Once this is attained the business then expands on their search terms to allow the customers to find them with ease.
Social Media Marketing Plan
For the business to develop a successful social media marketing plan its must seek to utilize the recent graduates who due to their status in the lower spectrum of Millennials have a natural fluency and competency in awareness and familiarity with the social media. Nevertheless, their fluency in social media must not be used as a reason to appoint them as managers or heads of social media; this is because they are generally inexperienced in the marketing and even social media marketing too.
Increased Emphasis on 1:1 in B2B Marketing
In B2C marketing, the marketers and the businesses in general can afford to focus more of the target demographic as a rather and individualized service. However, in B2B the period between the acquisitions of new clients render the approach impractical. Therefore, B2B businesses must focus on single and individualized one on one meaningful dialogs and interaction with the customers as opposed pointless large value metrics. The most effective way of increasing 1:1 marketing is building relationships with the customers.
The effect of Emotions on the B2B Purchases
A customer is twice as likely to purchases a product or service that has appealed to them emotionally. The customers make their purchases on the personal value they see in a good in contrast to the common misconception of business value. A study demonstrated this where 71 percent of the participants of the study ended up making their decision based on emotions rather than logic. B2B marketers should, therefore, improve the emotional appeal of their advertising to draw the customers.
The Benefits of Digital Listening
Digital listening as elucidated by Raj Rao, the vice president of 3M co., is the company’s awareness of their customers and market in general is saying in the online platform. The vice president stated that for a while now digital listening has been a part of their marketing strategy, and it allowed them to provide its customers with solutions. As such, the B2B businesses must allow customer feedback and develop spontaneity in resolving the customer’s problem and issue. Raj also advised the big corporation to respond constantly to their markets in order to avoid inertia.
In this article, various strategies were put forth that were as a result of observation of the successful strategies. Business are different and therefore the marketing strategies must be utilized similarly. B2B businesses must also establish trust in their customers when dealing with their data and the sensitive information. Creating a sense of urgency in the customers was regarded as an important part of the strategies to increase sales. Other effective strategies included forward movement and reduction of costs and expenses.
Article Role in Aiding the understanding of the B2B Marketing Course
The article plays a major role in expounding on the concepts that were taught in the classroom. In the classroom, the concepts in the classroom were explored from a mainly theoretical perspective. On the other hand, the articles out the lessons taught tin the classroom to practice. The main effect of this is to ensure that I as a student gets a critical outlook on both aspects of marketing; the theoretical approach and the practical approach.
An example of such is the impact of emotions in the customer’s purchases choice and preference. The aspects of the buying determinants theory deal with the motivations that drive a customer’s decisions. Here emotions are categorized under psychological factors. The practical aspect arises with the fact that business must capitalize on the power of emotions and personal value in a product otherwise they risk missing the 70 percent of the people who make their choices and purchase decisions on emotions.
Building long term customer relationships in business markets
The largest percentage of business conducted in B2B occurs between the business and existing customers. New customers in B2B businesses account for a minimal percent mainly because B2B business involve high-cost transaction that most organizations prefer to stick with the businesses they are familiar. It is, therefore, paramount that B2B businesses create long-term customer relationships.
The primary methods of ensuring that there is development of long-term customer relationships are simply communications. A B2B business must ensure that they are in constant communication with the customers. The communication includes the times when the customer is in between services. The main goal of this is to demonstrate commitment to the customer. The business should also be careful with the communications ensuring that they are not all sales of marketing campaigns. Instead, the company could offer features such as helpful advice and informative communications.
The personal touch is also essential in ensuring long customer relationships. The business head must ensure that he or she is familiar with the customers and understands their need and challenges. A cold approach to the customers will likely mean that the customers will merely tolerate the transaction instead of enjoying themselves leading to devilment of loyalty and a feeling of belonging
Please remember that this paper is open-access and other students can use it too.
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