April 23rd, 2021
Behind every good business is a smart marketing plan.
Determining the growth and success of your business is not always about how great of a product or a service you can offer - of course, these are one of the most important things - but on how well you market your brand to gain potential buyers who will actually buy your products.
A good marketing plan offers countless opportunities for a business to grow. Marketing is not just commercials, ad flyers, and social media posts - in B2B tech marketing, it takes a lot of planning and understanding of your industry, your competitors, and your buyers, to come up with a strategy that will make you stand out.
Unlike other businesses, the purpose of B2B marketing is to make other businesses be familiar with you, your brand name, and your value propositions with the goal to make them your potential buyers. Note that these other businesses can be of high-value service or products such as Service as a Software (Saas) companies, hardware technology companies, and software services companies.
The following are some of the reasons that businesses cite as to why they invest in technology and B2B tech:
According to Gartner forecasts, businesses and technology spending will be increased by 10% and the IT services segment, including B2B tech, is expected to have the second-highest spending growth this year. Minute Media’s president Rich Routman shared how B2B tech started to play a significant role in their advertising revenue. “The B2B side of our business, it’ll end up [in 2021 having accounted for] 60-ish percent of our revenue. It’s a big part of that business. We’re as much of a tech company as we are a publishing business,” says Routman.
The best B2B tech marketing plan is the one that integrates what your buyers want, what resources are available for you to get to your buyers, and how you can use your connections. You need to come up with a marketing plan that is uniquely yours and can be innovated over time, so you can catch up on trends and do better than the rest. You do not stop after identifying your potential buyers and sending them a message, no. You have to be compelling and smart to make your buyers respond and engage with you.