Internet based sales have shown explosive growth in recent y

Internet based sales have shown explosive growth in recent years. How does B2B interaction differ from consumer based internet marketing, and why is it growing rapidly? Will this growth continue? What will be the next focus in marketing?

Solution

B2B interaction differs from consumer based internet marketing:

These can differ based on the dimensions.

Value driven marketing - In B2B marketing, always importance is given to the actual value proposition. The marketer is focused solely on solving one of the problems of the client. However, in consumer-based marketing, emotions and guts get importance in some cases.B2B requires more team consensus in order to finalize. The bigger the deal, the more people are involved in decision making. Also, people for different divisions with different background tend to contribute and which in turn acts as modifiers to the requirement.B2B relates to a high level of impact in the business. If the client is a famous name, the supplier can become famous in the stock market just by getting a deal from the client irrespective of the deal size. Vice versa can also be a truth when the supplier is famous in its industry. Consumer marketing may not always demand a high level of interaction with the consumers. This is due to the limit of knowledge of the consumers. However, the clients of B2B involves high level professional with deep knowledge of the product and the level of interaction involves a lot of information flow. In the case of B2B marketing, long term relationship is more important than making the profit out of that particular deal. For consumer marketing, profitability and developing a large customer base becomes the priority. According to this principle, the marketing strategy should follow. The marketer may need to present a large amount of information and references in case of a B2B deal. This may not a requirement for consumer based marketing. Emotions may surpass information for consumer based marketing.

Internet marketing growing rapidly:

More than 50% of the total US population and Moe than 75% of the US adults are online. Due to high growth of \'Mobility\', customers are always online with their device. The web-based marketing ensures that the marketing information and awareness is always on wherever the customer moves with his / her device. Internet is for everyone and there is very little restriction based on country or origin. So, through internet marketing, one can reach a global market without paying any extra cost or without putting any extra effort. Different search engine optimization (SEO) and analytics platform can provide the marketer the exact measurable results that he or she might be requiring to understand the effectiveness of the campaign. One of the reasons in pretty much straightforward - cost effectiveness. Precision marketing is not very easy with the traditional approach of marketing. However, with the help of technology used the internet marketing approach, it is possible to index the search results and then match those results with your product category and display those products with that searches only.

Growth continues:

As the internet will grow and technology growth will be there, there exists scope for internet marketing to grow. Since this is global marketing approach, the growth opportunities of the developing nations are also to be taken into consideration. So, looking at totality, we may conclude that the high growth phase will remain for some time and then a stable growth will be there for a long period of time.

The next focus in marketing:

Creating great content could going to be the next level of the focus point in marketing. This is termed as content marketing. Also, engagement with the consumer will be the key. The consumer will need every information related to the product. The marketing strategy must include this and improve through customer engagement and involvement.

B2B productive and when is it not productive:

For being productive,

The team must follow a cross-functional approach and collect required information within a short period of time. Promote multitasking within sales team in order to ensure one member can contribute to the maximum. This will definitely reduce cost. In order to succeed, focus on the problem or the value proposition rather than the product and service. This will increase the success rate and hence productivity.