B2B or Business to Business Marketing is an extremely competitive space today and its becoming extremely difficult for even good marketing companies to keep pace with their own industries. Today they face competition not just from their traditional peers but from the aggressive startup companies who are lean and are nimble footed.
B2B marketing is often looked upon as a lead generation process and the success is measured by the cost per lead and the number of leads. And yes their b2b sales counterparts will also add in another factor, lead quality which is important but not accurately measurable. And BtoB marketers will often be pushed on the above parameters only which makes them a lead generation machine.
But often they tend to forget the value of the brand while doing the B2B marketing and the entire marketing piece becomes offer or price oriented. The startups will focus on these because they don’t have the brand lineage and will push the sales on this front. But little do they realize that this in the long-term makes the entire team dependent on pricing/discount and doing this year on year makes this a process which in the future is very difficult to change.
Also if we look at global brands who are leading the B2B space they follow a completely different strategy where they focus on the brand that has been built over time but they too did start somewhere. Brands like Microsoft, IBM, Well Fargo, UPS, GE, SAP, Accenture, Oracle, FEDEX, etc have been focused on ensuring that the product service is immaculate and rest of the job is done by the brand name itself.
And in today’s world there is no shortage on the mediums that one could achieve the same there is digital marketing, affiliate marketing, network marketing, social media marketing which offer extremely economical options if run well to not just generate leads but to build a brand as well. Yes in certain less developed economies one may need to look at traditional mediums as well but every penny spent (if one has a right creative) will add value to the business int he long run.
A prime example of brand and technology by a B2B brand – Huawei jumped 22 per cent post investing heavily in innovative new technologies such as software-defined networks and cloud solutions that enable business agility on the product side. But along with that to boost their brand they also signed A-list movie actors and footballer Lionel Messi as brand ambassadors to create a positive perception of the brand in the business fraternity via advertisements.
Brand strategies do take time but its never too late to start building a brand because the more your delay the more damage is done by either becoming price dependent or being a good lead generation company. Both for me is not something which is sustainable in the long run. There needs to be a balance between the brand and lead generation for any marketing plan or marketing strategy which not just enables revenues but long term benefits as well. And one must not forget an important aspect of business – SPEED, the faster you respond the better chances of deal closure.
Source : Payperformance.com