What is Industrial Marketing
Industrial marketing is goods and services that are offered not to a retail consumer, but to another business. Sales here are much longer and more complicated, and promotion has its own characteristics. We tell you how industrial marketing works and give a hint about an unobvious promotion channel for this area.
Features of industrial marketing
The main feature of industrial marketing is that there are significantly fewer clients than in the consumer market. Therefore, you need to hold on to each one: find an individual approach and offer quality service. Remember that partnerships are usually long-term, and do not chase immediate benefits. It is important to work for the long term here.
An important feature of the industrial market is the duration of transactions. A transaction can last from six months to several years. This is a fairly lengthy and complex process. Large transactions often take years to conclude, and goods move from one production area to another until they finally reach the end consumer.
The relationship between the parties to the transaction is closer than in consumer marketing, and therefore the seller must immediately respond to changing customer needs in order not to lose him.
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Objectives and tasks of industrial marketing
First of all, it is important to understand that industrial marketing is aimed at a savvy buyer, not an amateur. Commercial firms know exactly what they want and how to achieve it. Purchasing in companies is usually handled by an entire department, and decisions are made after collecting analytical data in a balanced and thoughtful manner.
The main tasks of industrial marketing:
Forming an image of a reliable supplier. Take the time to develop a proper sales strategy. Ensure that all terms of the transaction are fulfilled on time and in full.
Conquering certain positions in the market. Identify the main competitors and determine your pros and cons in relation to their features. Understand your place in the market niche and growth points for the company.
Identifying key product benefits. Identify the key benefits of your offering and present them to potential partners in the best light.
Identifying target segments in the market. Any product is usually produced for a specific audience. For example, flour is useful in bakeries, and metal products in construction. Depending on the area of activity, the target consumer should be identified.
Monitoring and analyzing sales. Be sure to analyze and compare your successes with your marketing strategy. Just don’t forget about seasonal peaks and declines for certain types of goods and services.
Monitoring of competing companies. Since there are not many clients in this segment, supply often exceeds demand for goods and services. Therefore, it is necessary to constantly monitor the successes and new ideas of competitors in order to get ahead of them or take advantage of successful developments.
Advertising. Don't skimp on your advertising campaign. Mass media, the Internet, outdoor advertising – everything should be used. Don't forget about commercial offers that you can send personally to your potential clients.
The ultimate goal of industrial marketing is to identify a specific group of consumers and create individual offers for them in order to establish long-term partnerships.
Does it make sense to work with bloggers?
It may seem that influencers are not the right channel for industrial marketing. However, practice has shown that all channels should be used. You never know where a big client will come from.
Therefore, there is only one answer to this question - yes! Bloggers are promotion. Everyone wordpress web design agency watches and reads blogs, both entertaining and highly specialized. As a result, mentioning your company in a video or post will be noticed and appreciated. And since many well-known bloggers act as experts of some kind, the company will receive a preliminary credit of trust...
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The main thing is to find a reliable intermediary when working with them. This could be an agency or an exchange, such as Perfluence, where the cost of services is lower due to volumes, and all bloggers are collected in a single database and systematized, and the analytics are absolutely transparent. This significantly speeds up, reduces the cost and simplifies the work.
Differences between industrial and consumer marketing
The main difference between industrial marketing and consumer marketing is that services and goods are promoted on a wholesale scale, which significantly changes the usual strategy. The check amount is often very high, and therefore the transaction is carried out carefully, thoughtfully and for a long time.
Clients in industrial marketing are highly qualified and have specific requirements for the supplier. Therefore, you will have to work with each partner separately, focusing on their needs. At the same time, the approach in this area is highly specialized, which allows you to gain experience and improve your qualifications.
In the industrial sales cycle, the most labor-intensive part is the research part. Almost 94% of B2B buyers study the supplier information thoroughly, using all available sources of information. Each transaction involves not one person, but several departments. In consumer marketing, everything is simpler on the one hand, and more complicated on the other. In addition, the competition in this area is much higher.
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