Thanks to our guest blogger, Michael Haynes of 2Excell Consulting for this contribution.
As business owners and managers we must take caution to the many marketing “evangelists” that exist in the marketplace. We have all come in contact with them at some point whether it is through their poorly timed sales calls, countless emails, networking events or through some creative presentation. Regardless of the tactic used, these so called “experts” claim that the marketing approach they advocate will be some kind of a “silver bullet” that will change your business’ performance like never before, thereby enabling you to achieve results and objectives you thought you could only dream of.
The list of these marketing silver bullets is seemingly endless. Some of the names of these marketing heroines include: videos, social media, content marketing, SEO, SEM, marketing automation, email marketing. If you have not done your homework and blindly applied one of more of these approaches, chances are you will be feeling very frustrated at the amount of money and time (both of which may be in very scarce supply) you have spent and have seen little to no improvement in your overall results.
The harsh reality is that there is simply no ONE “silver bullet” that will effectively help YOUR business to gain awareness, attract and gain the customers you seek. Customers will use (and respond to) a variety of ways to find, research and choose the products and services that they are interested in. This is particularly true for those of us who provide products and services to other businesses (or government or not for profits organisations). This market is referred to as the Business-to-Business or B2B market.
Selling products and services to other businesses differs from selling products to the average consumer in one fundamental way. Selling to a business customer whether it be a product such as equipment and materials for manufacturing or services such as IT or legal services quite often involves several individuals who make the decision as to whether or not to make the purchase. These individuals may or may not use the product or service at all. In any event as they make the decision whether or not to buy, they are in effect the true buyers.
Furthermore B2B purchases often pertain to expensive, complex products, services and technologies such as IT systems, industrial equipment, accounting or engineering services. Given the high costs and risks involved, potential buyers, may not utilize the likes of some of these marketing “fads” as part of their buying decision process.
Therefore, if you want to effectively market your business product or service that will make your offering standout and lead buyers to BUY, you must focus on the BUYERS. As a result, there are 4 factors (or as I call them the B2B Factor of 4) you must know about every business customer.
To find out more about the “B2B Factor of 4″, come out to Servcorp’s Business Shorts Event on June 4. If you are not able to attend on June 4, go to my website and request my free report; “Know these 4 Things and Business Customers Will Respond to Your Marketing…and Buy!”