Marketing to a business organization or firm is known as B2B marketing. B2B sales are complex by their very nature as it involves multiple decision makers. Selling to b2b customers is also difficult as the marketing mix is affected by the demand diversity and differing nature of the sales where you are selling to few customers buying in larger volumes.
Considering the demanding nature of b2b marketing, its starling to know that businesses in US are more than willing to spend over $85 Billion on b2b marketing. So, there are no doubts that b2b marketing is on the rise, but it’s very important to know what factors are driving the growth.
Three “revolutions” happening around the world today are believed to be the reason for tremendous change and growth business marketing is experiencing.
1. Technological Revolution
New product and service development is happening at an unprecedented pace, with the fast changes in technology. A large part of it has to do with the Internet as well. Technology and business strategy go hand in hand as the former supports the later and vice-a-versa; and both play a great role in business marketing.
2. Entrepreneurial Revolution
Most of the companies have downsized and reinvented themselves to stay competitive in an era where cost cutting has become a norm. In a phase where organizations big and small are getting revolutionized; flexibility, innovativeness, adaptability and aggressiveness are the keys to stay ahead.
B2B marketing is driving the entrepreneurial revolution by discovering untapped market segments, creating new sales processes, enabling targeted distribution and excellent customer service.
3. Revolution in Marketing
One of the main reasons for the rise of business marketing is that companies today are ready to look beyond traditional marketing strategies and are willing to adopt new theories and concepts.
Organizations are slowly moving away from the mass marketing methodology and are emphasizing more on focused marketing. Partnerships, relationships and alliances define marketing today as firms are ready to customize marketing programs for individual accounts.
Strategic Outsourcing Services is a pioneer in marketing process outsourcing with over a decade of experience and can help you increase your business ROI.
