Normally when you look for a definition of industrial marketing you find that it is marketing aimed at industrial companies and that is characterized by focusing on more technical and specialized details because the market they are directed is smaller and «professional». But in the end what does this mean on a day-to-day basis? I will share how Sergio Corbo describe, the definition of industrial marketing, the marketing director of the division of General Electric (GE) Energy:
«In products of mass consumption (B2C) is committed to strategies that move emotions in the consumer, on the contrary, in marketing focused on industries (B2B industrial) you have to impact the ‘buyer’ with the benefits and solutions that will give their business, for this you need a wide knowledge of the problems of the market and go one step ahead of the client «-
It has a lot of reason in several points: you have to impact the buyer, you have to know their problems well and you have to go one step further. This is precisely what I want to talk to you about and what we will form:
A definition of industrial marketing that will change your company:
A. Impact the buyer
To impact the buyer it is super important that you know who they really are. Remember that you are not selling to companies, but to the people that comprise it. Each of them, according to their position, has different problems and goals to fulfill, and for that reason you have to use different messages and «languages» in order to connect with them. A definition of industrial markets should consider this point, and much more important: your industrial marketing strategy MUST consider it. – * If you want to know more about this, you should read this other article: «How to make a correct industrial market segmentation?«
If you do not know very well who you are talking to, it will be very difficult (almost impossible) for you to understand the competitive advantages of your company; You must go far beyond the price, quality, delivery times … This is called knowing your «buyer personas» (or buyers).
Once you understand your personas well you can create the message and choose the most appropriate means to reach them at the right time, adding value and without interrupting.
B. Know their problems well
Related to the previous point, a good definition of industrial marketing should consider seeking to convey to people who have extensive knowledge in your industry, that what you are looking for is to help them solve their problems and that they can rely on you to achieve it.
For this it is important that you know the purchase process of your customers and create a content strategy for this. Very roughly, with «buying process» I mean that people usually go through 4 stages before buying: 1. exploration (define their problem or need), 2. consideration (begin to evaluate according to their criteria), 3 decision (choose the best 3 providers) and 4. buy. We explain a little more in depth here.
Industrial companies usually opt for traditional marketing such as fairs, telemarketing, spectacular, to name a few. And do not get me wrong, I do not say that they are bad strategies, they are very good but they are only effective for those who are in the decision stage, and we can be losing up to 95% of our prospects for not considering other types of strategies such as they are inbound marketing (which takes advantage of content marketing as one of its tools).
This type of marketing, inbound marketing, aligns the company’s sales funnel with the customer’s purchase process (another aspect that is not normally considered in a traditional industrial marketing definition), and based on this, value content is created to help people according to the stage they are in, and help them keep moving forward alone in the sales funnel. This puts you at an advantageous point in many ways, and I explain it to you at point C.
C. Go a step forward
A good definition of industrial marketing should consider the strategies and tools to go one step ahead of your competitors and your customers. Going back to inbound marketing, I see it as if you were setting up a machine to help you sell, each tool you select and the way you use it will help your company to achieve the results you are looking for in brand positioning and commercially.
As mentioned in the previous point (subsection B), inbound marketing allows you to achieve that advantageous point you want, as follows:
- Highlight among suppliers: if you arm your «inbound marketing machine» well, you will be able to know what your prospect is worried about and what he want to achieve, according to the type of information and materials he have been consulting. This means that you can approach him in a context in which he is already located as a company, and that you place him as a prospect; You can engage in a conversation that interests him and this will obviously make you stand out from the entire list of providers.
- Achieve more and better business: this type of information, knowing how to take advantage of it allows your sales team to have more humane relationships with prospects, talk about their interests and not just release the same sales pitch that all companies use. Remember that we deal with people, and if you manage to establish a relationship where they perceive they are receiving value, the chances of getting a business with them increase by 3X.
- Positioning in your industry: by providing relevant information and different materials to your prospects, related to their problems and goals, you will achieve that they place your brand as one that knows what they are talking about and that is not only predator hunting customers, but also adds value . They will see you as a company they can turn to for help (and not as a company to flee from because they want to sell them).
So in conclusion we can say that the definition of industrial marketing, applied in your company, should consider knowing your buyer very well to correctly define their message and suitable means; know their problems and goals very well to provide them with valuable content that helps them to solve part of what they are looking for, and to place you as a professional and experienced company. In the end we look for all this to translate into business growth.
And my last tip: remember that like many things in this industry, the numbers are very important; It is vital that you know what happens at each stage of your sales funnel (both from the marketing and sales side) to know what is working and what is not; If you want to keep moving forward, you must keep improving.
I know that a definition of industrial marketing is not enough, so if you want to know more to do something for your company, I highly recommend you read our [Ebook] Inbound Marketing for Industrial Marketing, just click on the box below: