What is business marketing? It's the active and considered promotion of a company, brand, product or service. To promote, the business marketing campaign must have a goal. In many cases, the goal is either to spread awareness or make money through sales.
Some people confuse business marketing with branding. Branding is the act of educating people on brand principles. Business marketing is more of an umbrella term where branding may play a part. Spreading awareness, fighting one’s competitors, and creating sales may also be considered business marketing.
What is Marketing in Business?
As you can tell from the introduction, business marketing can be a multi-faceted creature. Business marketing may involve online promotions, it may involve face-to-face selling, idea dissemination, viral content, and so forth.
One takes the goal of the business, such as to make money selling socks. One then finds different ways to sell the socks, and then creates a plan that involves different ways to approach the target audience, find their needs, and fill their needs vis-à-vis them buying a new pair of socks.
What is Business to Business Marketing?
In essence, business-to-business marketing (B2B marketing) is the same as any other type of business marketing, but the target audience is far smaller. On the one hand, this means the amount spent on marketing need not be so high. On the other hand, a more personalized and in-depth approach is needed. This is especially true if there are few buyers and many suppliers.
What is the Difference Between a Marketing Plan and a Business Plan?
A business plan covers all the elements that exist when running a business. The marketing plan only covers the promotional side of the business. The marketing plan may also intermingle with elements of the business plan, such as turning complaints into sales, competitor research, and so forth.
Every business plan should have a marketing plan. It is just like saying every car should have an engine, or every plan should have landing gear.
What is Business Marketing and How Can My Business Benefit From It?
Whether you are setting up your own marketing campaign, or you are hiring a marketing company in Maryland to do it for you, the biggest benefit is that it will help your business survive. It is true that you can get somewhere in a car with no engine, (you could “Fred Flintstone” it), and you can even land a plane without landing gear, but it is very difficult.
Without business marketing, you have no way of actively finding, tracking, and selling to your target audience. You rely on other people to push clients in your direction, and that is almost always an unsustainable business model.
The $64K Question - What About You?
When some people ask, “What is business marketing?”, they are often referring to themselves. They may be asking how they are able to contact other businesses and sell to them, or how they may get other businesses to get in touch. To some, it is the same as asking how to get members of the public to call and make purchases, and for others, it is like asking how a website makes affiliate sales on social media.
In the end, business marketing is all about finding your target customer and selling them your product, services, ideas or brands.
Are you wondering how you may market your business? Are you curious about how other people are doing it? If you are looking for small business marketing in Maryland, SOMD Connect & Associates can help.