Market and relationships communication in B2B Flashcards
What are some of the communication objectives in relationships? And what tools can be used for each?
Awareness
Advertising, PR, content and search marketing
Interest
Websites, webinars, tradeshows
Evaluation
Online screening, telemarketing, field service visits
Trial
Field sales visits, email andm obile marketing, social media marketing
Purchase
Transactional and relationship sales teams
Social media marketing
What are some points at creating a good first impression? (website)
Present information on website that is easily verifable
Clearly express the identity of the organization that lies behind the website
Highlight expert content and services relevant to customer needs
Signal honesty and integrity via tone of voice and about us, our philosophy and FAQ pages
Make it easy for site visitors to contact organization
Ensure that the site reflects what business the company does to ensure consistent online and offline experience
Make access and navigation easy
Update frequent, avoid errors
Explain “advertising”
Creative plan - to create awarness
Rational approach should be used in creative strategy
Information on performance & product quality should be included and
Presented in a logical manner
Symbolism and metaphors can be used for selling proposition
Explain “business brand”
Brands in B2B markets are normally at corporate level so we can explain a brand as comprising the expression and stakeholders images of an organizations identity
Powerful brand can be critical for success in competitive markets
Explain “tradeshows/exhibitions”
Their selling tasks:
Identification of prospects
Gaining access to key decision makers
Winning orders
Account handling
Non selling tasks:
Building company image
Gathering competitor intelligence
Product testing/evaluation
What is “direct marketing”?
Involves interaction between individual customers and the bendors for partner acquisition, retention and development
Absence of face-to-face contact
Use of on-and-offline media for direct, one-to-one communication and transactions. Facility to monitor and measure communication and transaction behavious
What is “personal selling”?
Involves face-to-face contact with customer
Permits direct interactions between buyer and seller
Allows identification of specific customer needs and tailoring to suit those needs
Explain the steps from initial contact to deal in B2B
Content is created and market communication initiated
Suspects identified via contact info, login or IP address
Identified contacts meet the criteria but not made sales inquiry
Leads ready to be contacted based on scoring or direct sales inquiry
Now on to more relationship communication
Contacted sale leads negotiation
Purchase secured: Product and service delivery
What are the consequenses for value based selling behaviour in B2B
Seller outcomes
Sales
Better conversion ratio
Higher sales profitability
Relationship outcomes
Customer satisfaction
Loyalty, deeper relationship
Share of purchasing budget
Reduced price sensitivity
Customer outcomes
Attainment of business goals
Market and financial performance
What mechanism can contribute in controlling relationship communication?
Incentive pay systems
Rewards employees for achieving specific performance targets
For sales person might include revenue, market share, new product sales
Monitoring based pay systems
Reward employees for on effective performance of sales activities
Technical knowledge, adaptive selling, teamwork, sales presentations, planning
