It is essential for small and medium-sized business owners to follow the B2B (business-to-business) marketing trends in the market. Considering the world business opportunities, you need to know a lot about the possibilities, competitors, and difficulties that you can face. That’s why we described 5 current marketing trends, which are important for small and medium-sized business representatives.
Speaking about small and medium business, it is important to understand that this sphere is characterized by acceleration of growth and development on a global scale. This type of business can work both with entrepreneurs and end users. And this opportunity significantly increases the scope of small and medium business.
1. B2B (business-to-business) = B2C (business-to-consumer)
Among the main trends of small and medium business is the ability to directly target the end user. If a large business is forced to contact dealers, suppliers, and other intermediaries, then the smaller business has the opportunity to deliver the goods to the customer directly. Thus, it becomes possible to monitor the delivery of goods carefully.
When dealing with business partners, you need to treat them as the end users. Try to find opportunities to meet live. If you are on different continents, prefer communication by Skype rather than dry correspondence by e-mail.
2. Price of trust
You probably already heard that consumer confidence is a currency. When your customers trust you, they come back and are even willing to pay for your product more. Moreover, they tell others about the experience of working with you and recommend your business. Together with trust, you get a “profit” in the form of fast and trouble-free transactions.
In the B2B market, technologies such as escrow systems build confidence in new B2B partners, mainly when they exist on different sides of the globe. And considering how easy it is to get negative feedback, small and medium businesses should put their efforts to prevent this. Concentrate on making communication with your customers as comfortable as possible. Make an effort to be punctual, attractive, convenient and relevant, providing quality services.
3. Outsourcing as a key business factor
Your business may grow too slowly because of insufficient knowledge. That is why more and more small and medium-sized business owners think about attracting experts from outside to analyze specific areas of expertise and geography. For example, an outsourced marketer or a freelance financier can quickly overcome the confusion of the developing market and competitive dynamics. Moreover, these specialists will help establish supportive, sustainable relationships with your new B2B partners (from business to business). Using the escrow system, small and medium enterprises can easily contract with external employees anywhere in the world and, in turn, grow faster.
4. Accredited marketing
With the growth of B2B technologies and the subsequent increase in commoditization, SMB should think about implementing certified marketing programs. This is mass marketing, applied to one perspective and key decision-makers. As a rule, accredited marketing is for clients with the highest income potential. The stakes are high, but the prospects are also impressive. Although accredited marketing requires a lot of personalization, it can be useful for data collection and regular communication between sales and marketing.
5. Mobile marketing
It’s no secret that people like to use smartphones, including searching for goods on the Internet and shopping. At B2B sales level, small and medium-sized businesses need the ability to sell via the Internet and a user-friendly interface.
Consider the new trends of mobile applications, and your small and medium-sized businesses will be more profitable. And escrow systems will help them accelerate global distribution while ensuring a high level of trust and satisfaction for new customers.