Looking for the best ways to proper b2b marketplace

Business-to-Business marketing is a recent trend in the international market as it involves many businesses, as the chain starts from primary to secondary and tertiary industries and is finally bought by the consumers. The Decision Making Unit of such businesses is far more different and complex than in any other business, as it has multiple tasks to execute as well as it houses a large number of people who are further divided into groups. Since, B2B interlinks many businesses; the DMU has to consider the psychological and cultural values and priorities as well.

The afore-mentioned key factors determine some ways in which B2B market can flourish. Firstly, B2B buyers are more `rational` as compared to other consumers as they keep in mind the cost price and profit of the seller and then decide what they `need` rather than what they `want`. This being established, the key tip in promoting¬†virtual B2B marketplace¬†is delivering the product on time, maintaining good quality and a relatively cheaper price would do the magic. Secondly, the ads of a B2B product must be innovative and if possible, humorous as well. Take the example of Cisco, a company which sells routers but they presented as a “The Perfect Gift for Valentine`s Day”, this sounds pretty implausible but this ad with the light humor made it to the New York Times blog.

With the advent of technology and most importantly the popularity of social media networks such as Twitter and Facebook, the dynamics of B2B marketing has been changed but it has well molded itself in it like hand in a glove. Now, a direct relationship between the buyer and the marketing person is not required, which saves time and energy of both the parties, necessary information is put up on these social media networks or marketing emails are sent to people, who have subscribed. In this manner, only potential buyers come forward and hence the meeting for handing over the product takes place. Additionally, the B2B people can track every marketing strategy, determine which one is the most effective and plan for future marketing strategies as well.

The significant change that B2B marketing has brought about is the aligning of the Sales and Marketing departments. Historically, there has been a rift between the two as both of them assume that only they bring about the revenue. Truth is, these departments work complimentary to each other and this new aspect has been boosted up by B2B marketing. However, bringing closer does not means merging the two but understanding that the two are necessary for any business to run and that they should work independently and efficiently; bringing closer means that they should co-ordinate while working.

Written by Sawdagger.com