Why B2B marketing is essential for SMEs?

There are no two thoughts about the fact that the Indian economy depends on the growth of the Small and Medium Enterprises (SMEs). There are plenty of SMEs in the country who are engaged in the production and supply of various products and services and thus contribute to the GDP.SMEs try various digital marketing strategies like search engine optimization, search engine marketing, B2B marketing, content marketing, website creation and social media marketing to gain presence in the online as well as offline market.

In today’s scenario, SMEs struggle to enter the online B2B market. The Indian SMEs are missing out on the big opportunities because they are not making appropriate use of digital marketing strategies and e-commerce. According to research, the SME sector employs 40% of the workforce but contributes to only 17% on the GDP. One of the primary reasons for this below par performance is the slow adoption of technology. Therefore, the faster SMEs adopt B2B marketing strategies, the faster they will be able to grow as an enterprise.

Lead generation

B2B marketing helps businesses generate a lead through their content. SMEs online are constantly employing strategies to increase B2B marketing. It is very important for all SMEs to understand that content is the king and it is the content which leads to more sales and guarantees a lasting relationship with clients. Businesses generate a lead by employing strategies like hosting an informational website, creating and emailing company newsletters, company blog creation, brand positioning and active social media presence, attending B2B exhibitions and networking with potential buyers.

lead

Understanding potential buyers & target market

The B2B marketplace is a large industry by itself. The trick to surviving in this environment is to understand the nature of the buyers. B2B marketing definitely gives SMEs an understanding of who their potential buyers are. It helps them position their brand in such a way that the products or services they offer reach the right set or category of people. Before even implementing the marketing process, it is important for them to understand the needs of the client and they have to try and put it in an exciting yet persuasive way. SMEs mainly target government agencies, institutions, hospitals, wholesalers or brokers.

Building Corporate Image

The B2B market is a very broad spectrum market. The marketing plan adopted by SMEs speaks very broadly of the company as well as helps establish corporate image. Being actively involved in a B2B market online gives a company an advantage to keep a check on their ongoing marketing plans as well as gain an understanding of the marketing strategies employed by competitor SMEs. B2B marketing helps SME brands understand the technical specifications of the product which further helps them decide the price of their product and promotion strategies. It is essential to know that a B2B market is a straightforward market where there are no emotions involved and the main aim is to provide the B2B customers with quality products at cost-effective prices.

Emerging markets and enterprises should get out of the box and compete in the global B2B marketplace if they want to succeed.However it is very important to understand that B2B marketing is only employed by businesses that deal in making products that have no direct practical use for consumers.

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