So, you’ve been running a straightforward B2C operation for some time now, and you feel pretty confident in your understanding of all the different facets of your business model. If you’re thinking of bolstering your income with a new B2B operation, it’s a big mistake to approach its marketing in the way you’re used to! Here, I’ve listed some of the biggest marketing mistakes you can make in the B2B arena.
Operating Without an Email List
A lot of entrepreneurs, when they’re taking their first steps into the B2B arena, falsely believe that email marketing is a tactic that’s only really effective for more traditional, customer-facing businesses. While it’s true that your overall marketing strategy shouldn’t rely too heavily on email marketing, it’s certainly something you shouldn’t neglect when it gets down to brass tax. Email marketing still has a massive potential for ROI, and if you neglect it, you’ll more or less be cheating yourself out of new clients. Having said that, it’s important to approach your email marketing in the right way. Whatever you do, don’t just blindly pitch to the prospects on your list, and spend time on each one, looking to build a strong, long-running relationship.
Failing to Demonstrate Knowledge of the Product
Source: Public Domain Pictures
This is one of the most common errors made by entrepreneurs who come straight out of running a B2C operation, and decide to fling themselves haphazardly into selling to other businesses. If you’ve been running an ecommerce store that sells clothes, for example, then being an expert in your products (and demonstrating that knowledge) really doesn’t take that much time and effort. However, when you’re selling a more specialized product, whether that be a digital stirrer or some customizable software, your knowledge is going to going to have a profound impact on the way your target market perceives you. If you’re thinking of getting into a niche that you really don’t know that much about, it’s essential that you make plans to educate yourself, or to work with experts in order to assure your target market you know what you’re talking about. If a buyer in your target market has even the slightest bit of doubt, they can easily slip through your fingers.
Ignoring Conversion Rates
Just like when you’re running a B2C business, it’s essential that you know how well your website converts, and the average value of each visitor who happens to visit your site. Even more important than that, it’s essential to use these kinds of figures to formulate a plan for constantly improving how your site converts. If you’re unsure of any of this information, it’s time for things to change. The average business website only converts around 2-3% of its traffic, which obviously leaves you a lot of wiggling room for improvement! Make sure you’re set up with a conversion monitoring tool, picking out patterns in the data you’re gathering, and then using this to bolster your strengths and repair your weaknesses. Your more established competitors are already doing this, so don’t fall behind!