B2B Marketing Promotion and B2B Marketing Lifecycle – How to Build a Brand & a Business
The business to business marketing lifecycle for a company as a total business and the marketing lifecycle for new services or markets that the company has, introduces, or enters, can be viewed in four stages.
- Introduction: business (or division) runs at loss or break even while operations are tested and refined
- Growth: business (or division) runs at break even or small profit and builds a small but loyal customer base
- Maturity: business (or division) runs profitably as the customer base expands and operational efficiencies are realised
- Decline: competition increases, customer base shrinks business (or division) runs at break even or small profit
B2B Sales and Marketing to Build a Business and a Brand
A correctly customer oriented B2B business will move services & products successfully through the first two stages of the Product Life Cycle – introduction and growth – and then prolong maturity through the application of customer intimacy coupled to;
- Marketing & Promotion
- Sales & Business Development
- Service & Account Manage Excellence
- Service Refinement
Customer intimacy, business to business marketing & promotion, sales & account management and service excellence work together in a business to achieve growth through;
- Building a reputation in the market
- Repeat business
Why is Customer Focus Important?
B2B Marketing and sales activity can attract new customers however without high operational standards and strong account management the value of those customers (through repeat business and referrals) will be limited.
Customer focus, which equates to service and account management excellence, provides for a strong market reputation, referrals and re-engagement that will lead to business growth.
What Does B2B Marketing Do?
B2B Marketing and promotion is used to raise awareness and effectively position and communicate the offer. It attracts customers to the business and warms them up ready for the sales interaction. Business to Business Marketing also helps to retain customers and build long term B2B relationships.
Coupled with a business providing service excellence, B2B marketing and promotion will achieve growth for a business by;
- Creating a positive environment for sales people to sell
- Promoting the businesses and its services
- Bringing invitations to tender
- Bringing new customers to the business
- Convincing prospects to switch to the business
- Increasing the conversion rate
- Enhancing the re-engagement and retention rate of existing clients
MJH Group is a specialist marketing consultancy with significant experience in B2B Marketing and driving organisational growth. If you have any questions about this article or getting the most from your B2B marketing program please contact us on 1300 905 116 or via email enquiries@mjhgroup.com.au