It sounds very basic, but it is not as obvious as it sounds.
When planning a new B2B marketing campaign, how do you define your audience? Who do you target? Your customers? An industry? Or the leads from your last trade show?
In the case of industrial and technology companies, before jumping into a business to business (B2B) marketing campaign or even a marketing strategy, the very first step companies should go through is clear identification of the different groups of customers, or market segments, they have. One group of customers use some of your products one way, while another group has a different problem and use a different set of products. Or use the same products in a completely different way. Here it is when the B2B market segmentation needs to be taken seriously: no company can (or can expect to) offer one solution that fits all. Resources are also limited – money and everybody’s time. You are ready put some budget into marketing and you need to make the best of your marketing money. But where do you start?
Depending on your product or service, you can segment your audience in many ways: by demographics, by industry sector, by location… I can keep going. There are many ways to segment a group. What would be the best way to select the right market segment for a B2B marketing initiative in a company in areas such as industrial, technology or science, where products and services are complex and highly technical?
In my experience, the best results I’ve seen in this sector came from very focused B2B marketing strategies with a good B2B market segmentation that targets a niche audience. The more specific the segment, the more specific the topic you will present in your marketing campaign. The more specific your area of expertise, the more chances you have to position your company as experts and reach people interested in listening to your particular solution. Less leads… but higher quality.
As an example, your Sales and Marketing team decides to target the oil and gas industry. But… what segment within this group? Do teams in alternative fuels need the same solutions than those in oil equipment? Or non-destructive testing? Another example: you want to reach professionals in the healthcare sector. Pharmaceuticals or medical equipment? Would they be interested in the same solutions from you?
Once the sub-sector is defined, then it is time to narrow down to the application. Where do you want to focus your marketing efforts? Resources are not infinite. Make the best bang for your buck.
Your B2B marketing strategy with a well defined segment, a niche market audience and a focused content marketing strategy will allow your business to:
- Know exactly what makes your product/service different for one specific group
- Adjust your offer to the needs of this particular market segment
- Create a connection between your company and your target market by using the right examples and terminology
- Create a set of marketing materials that are specifically tailored to answer the needs of this particular segment
- Assign resources to one particular marketing campaign and measure results
- Identify prospects and potential leads
- Position your company as the expert in this field
So next time you decide to run a B2B marketing campaign, please start by asking yourself and your team who your company exactly wants to talk to. Work smart on your market segmentation. Your audience will appreciate the gesture, I promise.
