What Is B2B Marketing? (And What Works In 2020)
If you own a B2B business, odds are you’ve heard of B2B marketing, but you may not understand why it’s so valuable for your product or service. Also, what’s the big difference between B2B and B2C marketing anyway? We’re going to take a look at what B2B marketing is, why it needs to become a part of your marketing strategy, and what is currently working in 2020.
What is B2B Marketing?
B2B (business to business) marketing is a marketing strategy that focuses on businesses selling their products or services to other companies. These companies or organizations will then resell them, use them in the production of their goods, or use them in their own general business operations. This is a great way to both promote their own business, while improving profit.
What’s the Difference Between B2B Marketing and B2C Marketing?
Now that you know that B2B stands for business to business, you could assume that B2C stands for business to customer. So, why is there a difference in how you market your products, if the business you’re selling to is technically your customer?
Kylee Lessard of LinkedIn explains the difference between B2B and B2C marketing in, “What Is B2B Marketing: Definition, Strategy, and Trends”:
“In broad sense, B2B marketing content tends to be more informational and straightforward than B2C. This is because business purchase decisions, in comparison to those of consumers, are based more on bottom-line revenue impact. Return on investment (ROI) is rarely a consideration for the everyday person — at least in a monetary sense — but it’s a primary focus for corporate decision makers.”
B2B Marketing Strategies That Work in 2020
When it comes down to the type of B2B marketing that you should be creating in 2020, the trend seems to be the following: detailed, creative and high-quality. Let’s take a look at top industry experts’ opinions for what has the potential to be most successful.
Branching Out in Your Content Creation
Beyond simply creating a blog (which already has high value in B2B marketing), trying something a little more creative to build an even more meaningful connection is a great way to go. Publishing a short video to your website and/or social media accounts is one way to branch out and change the way businesses interact with your company.
Oksana Matviichuk of Forbes.com talks about why it’s important to stay creative in your content creation:
“Yes, relevant content is still king. In the B2B world, content can create a meaningful connection with audiences to deliver the complexity of a B2B message. After conquering B2C, video is becoming a game-changer in the B2B space as well. In other words, video is “the new black” of B2B content. According to a B2B content marketing report, 71% of B2B marketers surveyed said they’ve used video in the past 12 months.”
Create High-Value Long-Form Content
When it does come down to building a blog, it’s important to make sure that you’re creating content that has the highest chance of generating leads. While it’s important to create long-form content, it’s also important to make sure you’re not filling it with “fluff” – you must publish content that’s contributing directly to your sales efforts. This may include surveys, case studies, product demos, and any other information that undoubtedly connects to your product or service.
Sujan Patel of Sujanpatel.com discusses the potential results of high value, long-form content in, “The Top 11 Most Effective B2B Marketing Strategies for 2020”:
“We all know how effective content marketing can be. According to some estimates, it delivers three times more leads than outbound marketing and costs 62% less. But not all content is created equal. Specifically, long-form content delivers much better results than short-form content. In fact, longer posts are nine times more effective at generating leads.”
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