What is B2B Marketing?
Definition, strategy, and examples of business marketing
Welcome to B2B Marketing, where businesses sell to other companies rather than individual consumers (B2C). But what exactly is the B2B concept, and what is B2B Marketing? How does it differ from its counterpart, B2C marketing? What can we learn from B2C and how to adapt consumer marketing strategies?
This article covers a 7-step approach to creating your B2B marketing strategy, including the marketing mix and different marketing channels. We also show examples of existing, real-world business marketing strategies and tactics.
In this comprehensive guide on B2B marketing, you will gain valuable insights that make you fit to create your own B2B marketing plan. Get ready!
3 Highlights of this Article:
Table of Contents
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What is B2B?
Understand a Business-to-Business Market
There are two different markets: business-to-business (B2B), where companies sell to other companies, and business-to-consumer (B2C), where companies sell directly to consumers. This concept is simple yet still valid to describe a market and types of customers.
The term B2B refers to a company’s target customers in a B2B market, but it does not describe the industry in which the company operates. Examples of B2B industries are automotive, construction, chemical, oil- and gas production, and textiles.
Additionally, a company may sell to both B2B and B2C customers. It is common for companies to have a wholesale segment (B2B market) while simultaneously selling to individual consumers in a B2C market.
In other words, a company is active in a specific industry and sells to companies (B2B), consumers (B2C), or both customer groups.
This image shows this definition in a nutshell:
What is a B2B Market? © B2B Marketing World
What is B2B Marketing?
Learn What Defines Marketing and the Specifics of Business Marketing
Business-to-business marketing (B2B Marketing) is all actions and processes to market a product or service to other companies. In contrast to consumer marketing, which targets individual consumers, B2B marketing focuses specifically on businesses.
Other terms commonly used to describe B2B marketing are industrial marketing, business marketing, or B2B industry marketing. These terms are synonymous and reflect the same marketing discipline.
B2B marketing is increasingly important as the B2B market is growing. Statistics forecast an increase of 69% in B2B advertising spending till 2024. B2B Marketers will spend 79% more on marketing technology by 2024 than they used to in 2020.
These facts underline the importance of business marketing. Therefore, let us look at the subject and define marketing itself.
What is Marketing?
Marketing is “the action or business of promoting and selling products or services, including market research and advertising.” This is a simple but also relatively shallow definition. Modern marketing is much broader, including many specific disciplines. Examples include Content Marketing, Social Media Marketing, Digital Marketing, Newsletter Marketing, account-based marketing, and other areas offline and online.
The classic definition by Jerome McCarthy, made in 1960, uses the “4P” concept. Also called the marketing mix:
- Product or Service
- Price
- Place or Distribution
- Promotion or Communication
The godfather of marketing, Philip Kotler, has defined marketing as “a social and managerial process by which individuals and groups obtain what they want and need through creating, offering, and exchanging products of value with others.”
Marketing has a strategic importance for your company. It, therefore, “aims to deliver standalone value for prospects and consumers through content, with the long-term goal of demonstrating product value, strengthening brand loyalty, and ultimately increasing sales (Hubspot).”
Philip Kotler © Wikimedia Commons
These definitions outline a central topic of marketing: customer-centricity. The aim is to please your customers and add value. Reaching your target audience is at the heart of all marketing.
And this very aspect sets the scene for the definition of marketing in the business-to-business environment. B2B relationships are, as the name implies, relationships between two companies. And B2B marketing focuses on establishing, maintaining, and using these relationships.
Definition of B2B Marketing
As discussed, the relationship between a company and its target audience influences all marketing activities. Therefore, the type of target audience (business vs. consumer) categorizes marketing. To press this point, let us put it simply:
- Customer is a business = B2B market = B2B marketing
- Customer is a consumer = B2C market = B2C marketing
As with all marketing, B2B marketing aims to create value for the customer and your business. The aim is to convert this value into leads, sales opportunities, and turnover.
B2B marketing is a modern term, sometimes called industrial marketing. Marketing for other companies started during the Industrial Revolution in the 18th century. The oldest content marketing example is from 1985. The American manufacturing company John Deere published “The Furrow,” a customer magazine. Sounds interesting? Here’s the rest of the story.
Nowadays, the Industrial Revolution is labeled as Industry 1.0, and we are living in the age of Industry 5.0:
Industrial Evolution and B2B Marketing © B2B Marketing World
Like the industrial market, B2B Marketing has developed too. Today’s modern Business Marketing is more automated and yet more personalized than ever. MarTech (Marketing + Tech) tools grow exponentially. B2B Marketers have become the lifeline of your company. And marketing remains a strategic topic. More than ever.
What is B2B Marketing [Infographic]
![What Is B2B Marketing [Infographic]](https://www.b2bmarketingworld.com/wp-content/uploads/What-Is-B2B-Marketing-Infographic.jpg "What Is B2B Marketing Infographic - B2B Marketing World")
What Is B2B Marketing [Infographic] © B2B Marketing World
B2C vs B2B Marketing
Differences, Similarities, and How to Use B2C Marketing in Your B2B
We have already discussed the distinct factors of B2B Marketing vs B2C Marketing. B2B happens in a business market between two companies, whereas B2C happens in a consumer market.
But why is this important?
The essence of B2B goods differs from consumer goods, as do the market mechanisms. The most apparent thing is the customers. Selling to an individual is one thing, but selling to another company is an entirely different story.
Differences and Similarities between B2B and B2C Marketing
Yes, there are differences between the two marketing disciplines. Some claim that we are all humans; therefore, it is sufficient to claim that all marketing is “Human-to-Human” or “H2H” marketing.
Look at it from this perspective: We are all humans. True. We all wear clothes. True. It is sufficient to market a suit the same way as a bikini. False. Although similar mechanisms help your marketing in both cases, there’s still a different approach to it.
The same logic applies to clothing versus industrial machinery. The same marketing tactics can be effective in both B2C and B2B markets, but successful B2B marketing understands how to tailor them to the industrial sector.
For a first overview, we compare some typical, market-defining criteria: target group, number of people involved, and the 4Ps of marketing. If you want a complete breakdown, here’s an article on B2B vs. B2C Marketing.
| B2B Marketing | B2C Marketing | |
|---|---|---|
| Target Group |
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| Number of people involved |
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One person makes the decision, often consulting friends or family to:
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| Product / Service |
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| Price |
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| Place / Distribution |
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| Promotion / Communication |
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How much impact these differences have depends on the type of business. A fair argument is that both disciplines are closer than ever. So, let’s look at how to leverage B2C marketing for your business marketing.
Use B2C Marketing Tactics for B2B Marketing
Marketing trends often originate in the consumer market. This is not only due to higher B2C marketing budgets but also because the marketing industry focuses on consumers. There are significantly more events, research, publications, and studies focused on B2C marketing.
Consequently, to stay ahead of the curve with marketing trends, peek at B2C marketing.
Here are 4 examples of how to leverage B2C strategies in business marketing:
- Digitalization. From Awareness till Purchase and Retention.
- Pricing Strategy
- (Hyper-) Personalization
- Branding
Digitalization. From Awareness till Purchase and Retention.
Indeed, digitalization has become a buzzword. However, it’s crazy how few industrial companies fully use its potential. From the initial interaction with your company through social media, digital events, weekly newsletters, or live chat on your website to the final purchase in your webshop – every step of this digital journey holds immense value.
Create online communities to create loyal customers and engaged customers. And make sure that your online presence is without boundaries and works 24/7 on all devices.
Pricing Strategy
Show your prices. Full stop.
Disregard any counterarguments claiming that your price structure is complex, depending on multiple factors, and that you want to hide prices from competitors.
Establishing transparent pricing is crucial. Not only does it create trust, but it also facilitates attracting the right customers. After all, you wouldn’t want to realize that your service is beyond their budget range after spending hours on discovery calls, would you?
(Hyper-) Personalization
Marketing automation and AI are crucial in delivering a unique customer experience. Hyper personalization is possible if you leverage data and content marketing strategies in your marketing automation tactics.
There are several potential use cases, such as personalized website sections, customized apps, and engaging one-on-one interactions through live chats and instant messaging services. WhatsApp Business is a great way to use the app for business purposes.
Branding
There’s not much to say about how B2C companies use branding to their advantage. Strong brands positively influence turnover and business success.
There is no valid reason why branding should be less important in B2B marketing. Arguably, it is even more important, as business marketing heavily relies on trust and long-term relationships.
A strong brand is your backbone.
“Regarding marketing trends, B2B marketers have an easy job. They need to monitor the B2C market and adapt proven concepts.”
B2B Marketing Strategy
Your Marketing Strategy in 7 Steps
This step-by-step approach helps you to create your business marketing strategy.
Chapter Overview
Having an effective B2B marketing strategy is crucial for running your business. It is a top-level plan for reaching a defined target group and turning them into customers of a company’s products or services.
You must understand your target market and consistently connect with your target group.
The key is to create clear value propositions and deliver them efficiently with marketing communication. A winning B2B marketing strategy should always put the customer first, rely on data, and be adaptable to changing market needs.
Companies with a marketing-centric approach view the marketing strategy as equally important to other key strategies such as sales, go-to-market, digitalization, and product strategies.
But why is a strategy important? Let us use this metaphor:
B2B Marketing Strategy – The bigger Picture © B2B Marketing World
Reaching the town behind the mountain may require a different approach. For instance, taking a plane could be a suitable strategy. However, would the same tactic of using a boat be effective in this scenario? Obviously, no.
Another scenario: although you might consider using a boat, there might be no river suitable to sail. In this example, your strategy fails to contribute to the desired outcome. Your boat might be perfect, but the aim remains not fulfillable.
Step 1: Brand Positioning
You must define, create, and implement your brand’s positioning to create an effective strategy. This step is important as it shapes how customers perceive your brand. Brand positioning includes the who, when, why, and how of your company’s brand identity.
It involves identifying the unique value proposition of your brand. By strategically positioning your brand, you can differentiate yourself from competitors. And establish a strong market presence to create lasting connections with your customers.
Contributing to the brand core, marketers need to define the brand strategy, use brand findings to set framework conditions, create a brand design, and implement brand actions.
Brand Concept in Marketing © B2B Marketing World
Branding brings your brand core to life using brand elements along branded communication channels. In this concept, brand elements are the carrier of your message, and channels define how to reach the target group.
Caption © B2B Marketing World
Step 2: Definition of Aims
Establishing clear goals is a necessary step toward developing a long-term strategy. The marketing objective is derived from the sales goals. Hence, ultimately, the marketing aim is derived from the company goal. This logical and hierarchical aim structure ensures that all marketing actions contribute to the company’s success.
The goals should be specific and measurable so you don’t waste time and money on marketing that doesn’t drive results.
Just to be sure and as a reminder. Aims are ideally formulated SMART:
- Specific
- Measurable
- Attractive
- Realistic
- Terminated
Examples of good and bad formulated marketing aims:
Examples of good and bad aims
Formulate aims that feel natural and contribute to your marketing idea. Don’t just put anything in writing because literature (and this article) tells you so.
Trust me, aims are worth the time and struggle.
Step 3: Understand your B2B Buyer’s Journey
The classic definition of a buyer’s journey is the process buyers undergo, from awareness to purchase. In literature, you find four journey steps:
B2B Buyers Journey © B2B Marketing World
In today’s digital landscape, with many social media channels and complex customer behavior, the buyer’s journey is no longer linear.
Further, the journey is impossible to track.
No B2B buyer ever googled, read your website, filled out a contact form, and accepted your offer. Reality is much more complex, especially in B2B markets.
The term “dark funnel” describes this aspect in a nutshell:
The Dark Funnel © The F Company
You will never fully know nor understand who and why a customer decided to buy from you. The truth is, he may not fully recall all touchpoints himself.
Still, understanding the stages and your customers’ preferences is essential.
Aim to know as much as you can. This information helps you streamline your marketing strategy.
Step 4: Define your Target Market and Target Group
The target group definition derives from the aims and connects with the buyers’ journey. The ideal target group is as homogenous as possible and has distinct criteria that separate it from other target groups. It is vital to have a clear segmentation for your marketing campaigns. Modern target group definitions focus on customer needs instead of purely demographic or geographic criteria. These data include:
- Age and Gender
- Location and Language
- Education Level
- Job Title and Employer
- Behavior, Habits, and Beliefs.
For online campaigns, firmographic data is a useful approach. This data shifts focus on businesses. Examples include:
- Industry, e.g., manufacturing, legal services, automotive
- Company size, e.g., in terms of employees or turnover
- Location, including local subsidiaries for individual local market demands.
The target group definition derives from the aims and connects with the buyers’ journey. The ideal target group is as homogenous as possible and has distinct criteria that separate it from other target groups. It is vital to have a clear segmentation for your marketing campaigns. Modern target group definitions focus on customer needs instead of purely demographic or geographic criteria.
These data include:
- Age and Gender
- Location and Language
- Education Level
- Job Title and Employer
- Behavior, Habits, and Beliefs.
For online campaigns, firmographic data is a useful approach. This data shifts focus on businesses.
Examples include:
- Industry, e.g., manufacturing, legal services, automotive
- Company size, e.g., in terms of employees or turnover
- Location, including local subsidiaries for individual local market demands.
Step 5: Choose your Marketing Mix and Marketing Channels
The next step in your strategy creation is defining how to reach your target group best.
We have earlier discussed the well-known concept of the 4Ps of Marketing, which is the foundation:
- Product: what product or service you sell
- Price: how much it cost
- Place: how the product is distributed and where it is sold
- Promotion: how the product or service is communicated and advertised
Marketing channels are vital as they connect you with your customers. Marketing channels include online and offline examples:
- Websites and Industry Blogs
- Social Media
- Newsletter
- Podcasts and Webinars
- Print Magazines
This step connects the information about your target group with your company and portfolio specifics. It sets the scene for creating an actionable marketing plan.
Step 6: Create a Marketing Plan
A marketing plan can be developed based on your marketing mix. Understanding the distinction between a marketing strategy and a marketing plan is essential: it is actionable and focused on the short term.
Typically, B2B marketing plans are designed for a one-year budget period. Within your marketing plan, it’s crucial to address the following question: “How can we deliver the right information to the right people through the right channels, using the right assets at the right time, to achieve our defined goal?”
Let’s have a closer look:
- The right time: Their needs evolve and change as the target group progresses through the buying journey.
- The right information: It’s essential to provide tailored information in an appropriate format (the right asset) to meet these specific needs.
- The right channels: Different channels may be more effective depending on the information and asset. Timing also plays a crucial role in channel selection.
- The right people: Your target group should always be at the forefront of your marketing efforts.
Connecting the gathered information, you can create a practical and actionable marketing plan.
Step 7: Define Marketing KPIs
Make your marketing measurable. To ensure the effectiveness of your marketing campaigns, it is vital to measure and report each activity.
By leveraging the power of data, you can optimize your campaigns and increase efficiency. This data provides valuable insights into the success of your campaigns. It allows you to make informed decisions.
The interpretation of this data serves as input for analyzing your objectives and further in-depth analysis.
With this approach, your B2B Marketing strategy becomes a closed-loop process, where every step is evaluated and used as input for improvement.
B2B Marketing Channels
How to Reach Your Customers
A marketing channel is a medium you use to get in front of your target audience. There are offline, online, and hybrid marketing channels to choose from. The right channel depends on your target group and their customer journey.
The following is a brief overview of different B2B Marketing channels:
As described above, the marketing plan combines assets and channels. During your analysis phase, you see which channel your competition uses and where to find your audience. Multiple channels are used in a cross-channel marketing approach.
Communication channel management analyzes, decides, manages, and evaluates marketing channels.
B2B Content Marketing
Traditional PR and marketing advertisement strategies aim to catch a consumer’s attention with promotional material and news.
Content marketing strategies deliver valuable information and seek to help the consumer instead of convincing him. B2B content marketing educates and solves your target group’s problem.
Further, content marketing positions your business as an expert in your industry. This B2B content marketing strategy is also called Thought Leadership. The idea is to become the go-to resource and named expert for a topic. You create trust, ultimately leading to credibility and building the foundation for long-term partnerships.
Yet again, the most successful content marketing is aligned with the buying journey. The specific pain point of each phase needs different content types and assets. A content marketing plan outlines your tactic to deliver this exact content at the right time.
Some assets and formats work better than others on specific channels.
For example, you wouldn’t use an image slideshow on YouTube. Or publish a long text on a print ad.
This might be an obvious thing to say. But, the wrong asset choice is a common pitfall in modern business marketing.
B2B content formats are:
- Whitepapers and eBooks
- Case Studies
- Webinars
- Templates, Checklists, and How-to-Guides
- Tools and Calculators
- Learning Courses
- B2B Podcast
B2B E-Mail Marketing
Nearly everyone (99%) checks their email daily, making newsletters the go-to content marketing strategy for 81% of B2B marketers. These statistics underscore the importance of newsletters.
Email marketing stands out as one of the most powerful channels for B2B marketing. It can consistently drive traffic to your website, all while being cost-efficient and user-friendly. The most significant advantage of email marketing lies in your control over the channel—your owned media.
Still, people have learned that newsletters are likely to be spam. This is an unfortunate result of thousands of B2C e-mails we nowadays associate with unwanted advertisements.
Your B2B e-mail newsletter, therefore, needs to fulfill these criteria:
- Value adding. A newsletter is no promotional tool. As we just mentioned, content marketing in B2B is about delivering constant value and educating your audience.
- Have a defined sending frequency and tell your subscribers when to expect your newsletter. Stick to it and become a part of their routine.
- Make sure to send multiple newsletters if you have multiple target groups. The one-fits-all newsletter does not exist.
- Responsiveness. Mobile first. Many users access their inboxes using mobile phones. E-mails that fail to display correctly on mobiles are likely deleted.
B2B Digital Marketing
There’s no denying it. Digital marketing is vital for B2B marketing.
Over 80% of buyers visit a website before making a purchase. A modern prospect is well-informed before the first personal contact with sales. Most people educate themselves online. Google processes over 100,000 searches per second.
Your website is at the center of it all. A company website is your digital hub and leads all marketing activities. Your digital appearance supports your brand, raises awareness, informs your target group, is a platform for engagement, generates leads, and users can purchase in your B2B eCommerce shop.
Beyond business, your website also covers jobs and career, corporate social responsibility, and sustainability. Your website is vital to your digital universe across all company topics.
Your company needs to take advantage of the digital world. B2B tends to have mediocre online marketing strategies. You aim to be among those B2B companies using digital marketing potential.
B2B Social Media Marketing
Social media is a super powerful tool for building brand awareness, giving your company an online personality, and humanizing your business. These factors are essential when it comes to connecting with potential customers.
In a nutshell, there is no way to avoid social media for B2B marketers. The times when social media marketing was used in B2C only are long gone.
Establish your unique social voice. Be authentic, honest, and entertaining. At the same time, you are focusing on creating value for your company and your audience.
Here are some examples of social media marketing in B2B:
LinkedIn has 840 million users and is expected to grow to over a billion users by 2025 (Statista 2022). The largest business network is the best way of leveraging your marketing with social platforms.
Facebook is still a good channel for branding and human resources topics.
YouTube is, without a doubt, the most significant player in the video market. Instagram can be used for brand-related, visual storytelling.
And TikTok is the fastest-growing social media platform worldwide.
B2B Event Marketing
Industry events, exhibitions, congresses, and trade shows are still a common marketing channel in B2B. The B2B trade show market’s revenue worldwide reached an all-time high of 65 billion $ in 2021 as a post-pandemic rebound effect. A decrease to a pre-pandemic level of 4 billion dollars is expected in 2026, according to Statista.
But why is event marketing important in Business-to-Business?
The answer is simple.
Business relationships rely strongly on trust and aim for long-term partnerships. Industry events are a platform for networking, exchange, and business negotiations.
Service-centric business offerings rely on publications and public speaking. Industry events are commonly used to publish the newest technological findings and solutions.
B2B Marketing Examples
Learn from Others
Now that we’ve explored the core principles and strategies of B2B marketing let’s delve into some real-world applications of these concepts. This section showcases how companies have successfully applied B2B marketing strategies and tactics. These examples are from various industries and marketing channels, offering a holistic view of B2B marketing in action.
Content Marketing, Animation and Videos: Animagraffs
Animagraffs showcases how complex topics can be explained visually. The animated content aims to educate the target audience and support fact-based content.
The content is designed as images or infographics or is animated as .gif or video.
This content explains the operational concept of a product, which is particularly valuable when customers are seeking solutions and looking for “how-to” or “what is” information.
For instance, a company specializing in a specific loudspeaker component could effectively promote their solution to renowned brands like Bose or Sony by addressing questions such as “How do speakers produce sound?”
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Marketing Automation: Canon Austria
The Austrian division of the renowned global action brand Canon implemented marketing automation as a new method of sending corporate newsletters. 60,000 subscribers within five business segments faced a big change in marketing approach back in 2017.
This example shows how the marketing team of Canon Austria managed this change in 6 steps. From shock and denial to hope and enthusiasm and ultimately to successful integration.
Business Influencer on LinkedIn: Samson AG
This case is all about how LinkedIn has the power to boost the profiles of energy executives and truly capture the essence of trust-centric branding.
It’s about creating authentic Energy Influencers and witnessing the brilliance and radiance of executives as the driving force behind this exciting new era of B2B Marketing.
Through the eyes of B2B Marketers for LinkedIn, the story describes how Samson realized the need for a voice and channel to participate in the discussion.
From this first realization, towards the successful implementation.
Educational Content Marketing: Lincoln Electric
Lincoln Electric effectively showcases its capabilities to specific industries and applications through various B2B marketing techniques.
They utilize case studies, technical whitepapers, guidelines, and in-depth examples to demonstrate how their products solve real-world challenges.
By leveraging these strategies, Lincoln Electric has established itself as a trusted provider of welding equipment and supplies in the market.
Have a look at their “Education Hub.”
B2B Marketing Example “Education Hub” © Lincoln Electric
Newsletter Marketing: Asana
Regarding B2B software, the initial experience of demos determines whether you’ll like it or not. If usability is poor or you’re unsure where to start, you may never return. Asana overcomes this hurdle by sending a helpful welcome newsletter covering three simple steps:
- Create a task
- Update a due date
- Complete a task
This user activation keeps Asana in the game. It’s not commercial or spammy but a useful newsletter with clear call-to-actions.
B2B Marketing Example: Newsletter © Asana
B2B Marketing Example: Newsletter © Asana
Frequently Asked Questions
Find Answers to the Most Important Questions
Summary [TL;DR]
B2B Marketing in a Nutshell
B2B (Business-to-Business) refers to the market where companies sell products or services to other companies. In contrast, B2C (Business-to-Consumer) refers to markets where companies sell directly to consumers.
B2B and B2C marketing have distinct characteristics and require different approaches. While some argue that all marketing is essentially “Human-to-Human,” there are specifics when targeting businesses versus consumers. Although there are similarities in marketing tactics, successful B2B marketing understands how to tailor them to the industrial sector.
A B2B Marketing Strategy consists of 7 steps:
- Brand Positioning
- Definition of Aims
- Understand your B2B Buyer’s Journey
- Define your Target Market and Target Group
- Choose your Marketing Mix and Marketing Channels
- Create a Marketing Plan
- Define Marketing KPIs
B2B marketing channels are offline, online, and hybrid mediums to reach target audiences. Examples include Content marketing, which focuses on delivering valuable information and establishing thought leadership. Email marketing remains a powerful channel for driving traffic and engagement. Digital marketing is crucial for online presence and brand awareness. Social media humanizes businesses and builds brand awareness. Industry events provide networking opportunities and a platform for showcasing innovations.
Stephan Wenger
B2B Marketing Expert, Editor and Marketing Management Consultant
Stephan Wenger is a seasoned B2B Marketing Expert with more than 10 years of experience in leading global companies. His extensive expertise lies in the realms of B2B online marketing, content marketing, strategic marketing, and driving synergy between sales and marketing, including effective lead management.
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