B2B marketing is one of the most common forms of marketing these days. This is the process in which you are selling your products or services or running marketing campaigns of the same to other businesses for multiple reasons. This can be for general operations such as office work or supplies, or for selling the same product to other consumers or even in the form of a dealing between a wholesaler to a retailer.
So, how do we make such a B2B promotional campaign a success? Here are some ideas to follow.
Step 1: Research
This is the first and the most fundamental concept of the B2B promotional campaign. This is pretty much the key to every successful campaign. The first question you ask yourself before any such marketing strategies are formulated is, what forms my target audience and how do I connect with them? This is the question that needs to be answered first, backed with sufficient data. Once this part of the research has been taken care of, here are certain aspects to focus on: how do my potential customers behave? What are their social profiles like and what are they expecting from your sales team? What are the challenges faced by them on a regular basis and how your product or service can form a solution to that?
Step 2: Planning
Once the basic research phase has been covered, we move on to the planning stage. This can only be taken up once you have significant data pertaining to your potential client base. This would include jotting down a set of objectives, the possible methods to be followed and some measures to be taken up for emergencies. Good planning is imperative for a successful campaign.
Step 3: Implementation
Implementation is one of the most important parts of a marketing campaign. This is where you get down to business and initiate the process. People tend to falter even after having the best plans and strategies, due to a lack of implementation. Reaching out to the customers on the right platform will be the key to this concept. It is best to opt for mobile devices like the smartphones and tablets for this purpose.
Step 4: Optimizing performance
So you have the perfect plans and strategies in place and have started implementing them gradually, so is next? Performance is essential for a B2B marketing campaign. Optimizing performance from the resources at your disposal for the campaign will be important. For this, it is best to run a lot of tests on your marketing activities to ensure their efficiency.
Step 5: Reporting and analyzing
Once the B2B promotional campaign has been worked out, it is essential to look back and tabulate a report of its success in order to analyze the campaign and propose solutions for future events. It is also important to make a note of the conversion rates instead of just focussing on brand awareness. A thorough study will help you devise better plans for the future campaigns and increase brand visibility.
Source: Tomorrow People
It is not easy being an entrepreneur. You have to have the intellect and patience to deal with any given situation. This is why you will see many people talking about operating businesses, but there are only a few who have the courage to do it and make it a success. To simply have courage doesn’t mean that your business is going to be a success; you need to have a concrete business idea to compliment your ambition! In order to understand if your business idea is worth pursuing, read on about 5 ways of identifying if it’s a worthy idea.
Making Your Business a Purple Cow
First, you need to know what you are selling, and/or about the services you are providing to people. It is not hard to come up with an idea, but to make it popular is another thing altogether. Here, the question is to make your idea seem so good that people might think of it as a rare item. It is very important in any business to stand out from the crowd. Think beyond the idea. Be the Purple COW!!!
Possibility of Success
Your idea has to have the power to bring in success or there is no point in investing your time in it. It is essential that you have thorough knowledge of the market and analyze things like market size, time commitment, and up-front cost to ascertain whether you will be able to execute your plan properly. If you get a positive feedback from your analysis, then go for it!
Analyze Your Market
In order to understand the possibility of your business, you need to know your position in the market. The more traditional way to examine this is to position yourself according to either high cost, high quality or low cost, low quality matrix. Another option is to go for the perpetual positioning metric which judges your position according to your acceptance and likeability in the market as far as the idea or brand is considered. This is a very practical way of understanding whether your idea is sound or not, and if it’s one you can use.
Check Out Your Competitors
There will be competitors in your market, and it will be prudent to understand their business idea to formulate your own. You can try to understand their strategy by asking them directly albeit with tact; but chances of success here will be limited. Your main concern here should be to look closely at their discount schemes and pricing strategies, and price your services accordingly, giving a better shape to your idea. This will enable you to look at the idea’s viability and decide accordingly.
How It Affects Your Life
Getting into a business means investing almost all of your time in it. This is your new baby, and definitely shouldn’t be taken lightly! At first everything might look good and you may get support from all corners. As you really get into it, your business can begin to consume you, and you may start to ignore the important parts of life which can be seriously detrimental to you and your family. Therefore, if you think that your business is worth the risk, then it is something you seriously consider doing! The greatest risks can give the greatest reward!
So what did you decide? Ready to take the plunge? If yes, we hope to see you again for marketing strategies to help you on your new adventure!
Google Ads receive millions of views on a daily basis. This is the reason more and more businesses are resorting to this option for advertising. But these do become a little steep on the pockets. Is there a way by which these advertisement costs could be reduced without compromising on the viewership or sales? The answer is YES!! This leads to a higher return on your investment, and opens up opportunities to direct the money in other marketing channels. Here are a few ideas with which you could find the leak and reduce the ad costs.
Search Term Leak
The first step here is identifying the search term leak. The problem with Google Ads is that the search engine gives results to any related keywords and even misspellings. For instance, if the keywords of your ad are ‘sports gear’, Google will present your ad on any search result that has keywords even remotely related to this. In order to fix this leak, you could go to your AdWords account to the “Keywords” tab. From there, you could keep the specific keywords from the displayed list of search terms along with essential statistics like clicks, conversions, and likes. You could block the keywords you find irrelevant in order to get a filtered audience for your ads.
It is essential to have an ad viewership that is specific to the geographic location you are willing to serve. This will give you better returns on the investment. For this, go to the “Dimensions” tab on your AdWords page change the “View to View: Geographic”. This now presents to you a list of the prospective geographic locations your ad has been targeting. You could remove the locations that your business does not cater to and also remove those that do not give significant conversions even though there have been several clicks.
Time of Day Leaks
This is the third identifiable leak. Every hour of the day does not provide equally positive conversion rates or significant results. Our aim here is to identify those periods during the day or week that yield maximum results, and eliminate the ones that have failed to give impressive outcomes. From the “Dimensions” tab, once again, change the “View to View: Time > Day of Week and then View: Time > Hour of day.” These will give you statistics for each day of the week and each hour of the day respectively, so you can set it for your peak times.
There are three major devices where Google Ads are displayed: computers, tablets and mobile devices. You need to filter the devices where you want your ad to be displayed. For instance, if your site does not have a mobile version, it would be best to take it off searches made on cell phones in order to reduce pointless expenditures. The “Devices” button on the “Settings” tab will display the statistics of ad viewership based on the three devices. The “Bid Adjustment” column could be turned to 100% for stopping a particular device.