Business-to-business (B2B) marketing is truly a practiced skill.
Unlike consumer marketing, where you can hit and miss while still finding some degree of success. B2B marketers have to be very precise about the capabilities of their products. This is because if a product or service doesn’t live up to the description, the universe of buyers for that product tends to be very small and close-knit.
It’s been said that imitation is the sincerest form of flattery. In any industry, it is always good to review best practices. One proven way to yield results is referral programs. Businesses that have referral programs tend to realize higher sales than those without them. Here are a few more facts about referral programs:
- Your marketing team should manage the program, which allows for synergistic results by lowering cost, increasing lead volume and better forecasting
- Purchase or design a tool specifically for your referral program to enhance conversion rate
- Leads close faster and at a higher rate with a developed program
- Sales pipeline is more fluid and efficient
B2B marketers can also use a strategy employed by consumer marketers, which is surround your desired target audience and be everywhere they are.
Even with a vertical audience, there can be some shared commonalities with your buyers. Hence, figure out how information is shared within your industry and use those insights to capture customers with desirable and interactive content. Foster an environment that instills inter-departmental collaboration and allocate resources to manage the process.
These practices are not all-encompassing, but they are meant to be thought starters to get the conversation going internally.
Adele Lassere is a marketing/advertising consultant with 20+ years experience, freelance writer and author of “Elements of Buying” (a self-help advertising guide), available at Amazon.com. Adele was listed as Black Enterprise’s 2011 Top Execs in Marketing & Advertising and Black Enterprise’s 2013 Top Women Executives in Advertising & Marketing. Contact: firstname.lastname@example.org