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Adapting Digital Marketing for B2B

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Challenge: Do new digital marketing initiatives like word-of-mouth marketing make much sense for B2B situations, and if so, how could companies effectively apply this? The internet has traumatized traditional marketing and is causing every manager in B2C, as well as B2B industries, to re-evaluate his/her marketing options. Harnessing the true power such internet based techniques has been a challenge for all marketers. We know its potential, but how can we ensure that a positive message is actually accepted and spread exponentially to enough target customers to make even challenging methodologies like WOM effort worthwhile? Can B2B marketers learn from B2C success stories? What are the differences and implications for B2B?

Essential Principles for B2B Marketing Success

One should first recognize the pivotal differences between most B2B and B2C marketing endeavors - typically involving type of product, nature of purchase decision-making, pricing sensitivity, target customer mindset and needs, etc. On the other hand, there are some prerequisites for success that each approach has in common, but are even more critical for B2B marketing programs:

• Focus - all smart marketers should identify and concentrate first on their highest potential target audience (i.e. usually heavy users), although the complexity of most B2B decisions warrants a greater understanding of this target customer's needs as a first step for any marketing program

• Relationship Building - a brand is all about creating an impression or perception that will be interpreted as a promise of value. Assuming the product will deliver and meet these expectations, cultivating a relationship with the customer is essential to enhance brand loyalty and equity over time. The standards for initial acceptance, trust or an adequate "comfort zone" for trying a company or product brand are even more rigid for B2B, however, making it more important for businesses to demonstrate their competence and clearly communicate the benefit/promises for their product or service.

• Personalized Marketing - In many cases, the stakes are higher for a B2B decision and the customer demands more than just a product description and price sheet; they want more service, personal sincerity, follow-up and a customized rationale behind the sale. Fortunately the interactive advantages of the internet enable B2B marketers to reach out and serve customers in a more personalized way today.

• Credibility - more than anything else, the low credibility of traditional advertising (76% of consumers don't believe companies tell the truth in advertising - source: MOMMA) has made an interactive medium like internet-driven WOM more popular and in demand. For B2B situations, however, the message must be compelling, relevant, newsworthy and distinctive to excite target customers who are very demanding, and to encourage them to spread new ideas to their peers.

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Jay Gronlund is a Principal at Global Partners who focuses in the areas of Ideation, brand development, new product launch and marketing in emerging economies,. Jay has been an Adjunct Professor at NYU since 1999, teaching a course on "Positioning and Brand Development". He has also written many articles on different international themes, as well as a book on Branding in the Over-the-Counter pharmaceutical industry. For more information, interested readers can contact Jay atjgronlund@globalpartnersinc.com.