Business Marketing
Inhoudsopgave
1 INTRODUCTION TO BUSINESS MARKETING ............................................................................................. 4
1.1 WHAT IS BUSINESS-TO-BUSINESS (B2B) ........................................................................................................ 4
1.2 CHARACTERISTICS OF B2B MARKETS ............................................................................................................ 4
1.2.1 The market ...................................................................................................................................... 5
1.2.2 The buying process .......................................................................................................................... 5
1.2.3 The demand ..................................................................................................................................... 5
1.2.4 Distribution channels ....................................................................................................................... 7
1.3 B2B BUYERS ............................................................................................................................................ 8
1.3.1 Commercial businesses (industry & services) .................................................................................. 8
1.3.2 Resellers........................................................................................................................................... 9
1.3.3 Governments ................................................................................................................................... 9
1.3.4 Institutions....................................................................................................................................... 9
1.4 TYPES OF B2B GOODS & SERVICES ............................................................................................................. 10
1.4.1 Components .................................................................................................................................. 10
1.4.2 Capital goods ................................................................................................................................. 10
1.4.3 Supporting goods .......................................................................................................................... 10
1.5 CREATING VALUE IN B2B .......................................................................................................................... 11
1.5.1 Porter’s value chain (Michael Porter) ............................................................................................ 11
2 DECISION MAKING UNIT & DECISION MAKING PROCESS (DMP) ........................................................... 12
2.1 THE DECISION MAKING UNIT .................................................................................................................... 12
2.1.1 The initiators ................................................................................................................................. 12
2.1.2 User ............................................................................................................................................... 13
2.1.3 Influencer....................................................................................................................................... 13
2.1.4 Gatekeeper .................................................................................................................................... 13
2.1.5 Decision Maker .............................................................................................................................. 14
2.1.6 Buyer ............................................................................................................................................. 14
2.1.7 Importance of DMU for B2B marketeer ........................................................................................ 14
2.1.8 Key factors that initiate the buying process .................................................................................. 15
2.1.9 Buying situations ........................................................................................................................... 15
2.2 DECISION MAKING PROCESS (DMP) ........................................................................................................... 16
2.2.1 Awareness ..................................................................................................................................... 16
2.2.2 Investigate ..................................................................................................................................... 16
2.2.3 Evaluate ......................................................................................................................................... 17
2.2.4 Purchase ........................................................................................................................................ 17
2.2.5 Engage........................................................................................................................................... 17
2.2.6 Advocacy ....................................................................................................................................... 17
2.3 IMPORTANCE OF UNDERSTANDING THE DMP & DMU................................................................................... 18
3 ENVIRONMENTAL ANALYSIS ................................................................................................................. 18
3.1 IMPORTANCE OF ENVIRONMENTAL ANALYSIS ................................................................................................ 18
3.2 ENVIRONMENTAL ANALYSIS: 3 LEVELS & 3 TOOLS .......................................................................................... 18
3.3 MACRO ANALYSIS: PESTLE ...................................................................................................................... 19
3.3.1 Political Factors ............................................................................................................................. 19
3.3.2 Economic factors ........................................................................................................................... 19
3.3.3 Social factors ................................................................................................................................. 21
3.3.4 Technological factors .................................................................................................................... 22
3.3.5 Legal Forces ................................................................................................................................... 22
3.3.6 Environmental Factors .................................................................................................................. 23
3.3.7 Ethical Factors ............................................................................................................................... 23
3.3.8 Where to find the data? ................................................................................................................ 24
3.3.9 How to implement the PESTLE data you found? ........................................................................... 24
1
,Business Marketing
3.4 ENVIRONMENTAL ANALYSIS: MICRO LEVEL ................................................................................................... 24
3.4.1 Micro-environment analysis: Porter’s 5 forces .............................................................................. 25
3.5 ENVIRONMENTAL ANALYSIS: ORGANISATIONAL LEVEL ..................................................................................... 28
3.5.1 SWOT analysis – definition ............................................................................................................ 29
3.5.2 SWOT analysis ............................................................................................................................... 29
4 STRATEGIC CHOICES .............................................................................................................................. 31
4.1 B2B MARKETING: LEVEL OF PLANNING ....................................................................................................... 31
4.1.1 Strategic planning ......................................................................................................................... 32
4.1.2 Tactical planning ........................................................................................................................... 32
4.1.3 Operational planning .................................................................................................................... 32
4.2 TOOLS .................................................................................................................................................. 33
4.2.1 1. Value disciplines (Treacy & Wiersema) ..................................................................................... 34
4.2.2 2. Ansoff matrix ............................................................................................................................. 38
4.2.3 3. Boston Consulting Group Portfolio analysis .............................................................................. 41
5 OMNICHANNEL MARKETING IN B2B ..................................................................................................... 46
5.1 INTRODUCTION TO OMNICHANNEL MARKETING ............................................................................................. 46
5.1.1 Omnichannel is the standard, not the exception. .......................................................................... 47
5.2 THE B2B BUYER (CUSTOMER) JOURNEY ...................................................................................................... 48
5.3 BUILDING AN OMNICHANNEL STRATEGY ...................................................................................................... 49
5.4 KEY TAKEAWAYS ..................................................................................................................................... 52
5.5 RECAP OMNICHANNEL ............................................................................................................................. 52
6 DIGITAL TRANSFORMATION .................................................................................................................. 53
6.1 WHAT DIGITAL TRANSFORMATION IS .......................................................................................................... 53
6.2 DIGITAL TRANSFORMATION – TRIGGERS ...................................................................................................... 53
6.3 DIGITAL TRANSFORMATION – 4 AREAS ........................................................................................................ 53
6.3.1 1. Proces transformation ............................................................................................................... 54
6.3.2 2. Business model transformation ................................................................................................. 55
6.3.3 3. Domain transformation ............................................................................................................. 55
6.3.4 4. Culture/ organizational transformation .................................................................................... 55
6.4 WHY DO DIGITAL TRANSFORMATION? ........................................................................................................ 56
6.5 TWO IMPORTANT ELEMENTS IN DIGITAL TRANSFORMATION ............................................................................. 57
6.5.1 Digital maturity ............................................................................................................................. 57
6.5.2 Digital intensity ............................................................................................................................. 58
6.6 CAPABILITIES VS PITFALS ........................................................................................................................... 58
6.7 RECAP DIGITAL TRANSFORMATION ............................................................................................................. 59
7 CONTENT MARKETING .......................................................................................................................... 60
7.1 INTRODUCTION TO CONTENT MARKETING..................................................................................................... 60
7.1.1 The importance of content marketing for B2B increases .............................................................. 60
7.1.2 Zero moment of truth .................................................................................................................... 61
7.1.3 The four C’s of content marketing ................................................................................................. 61
7.2 WHY ENGAGE IN CONTENT MARKETING? ..................................................................................................... 61
7.2.1 Brand awareness ........................................................................................................................... 62
7.2.2 Trust and credibility ....................................................................................................................... 63
7.2.3 Lead generation ............................................................................................................................ 63
7.2.4 Informing ....................................................................................................................................... 64
7.3 HOW SET-UP A CONTENT MARKETING STRATEGY?.......................................................................................... 64
7.3.1 Identify your target audience ........................................................................................................ 65
7.3.2 Set clear goals and objectives ....................................................................................................... 65
7.3.3 Audit your existing B2B content .................................................................................................... 65
7.3.4 Determine distribution channels ................................................................................................... 65
7.3.5 Determine content types for B2B markets .................................................................................... 66
7.3.6 Create a content calendar ............................................................................................................. 66
7.3.7 Monitor content performance ....................................................................................................... 67
2
,Business Marketing
7.4 EFFECTIVE B2B CONTENT FORMATS ............................................................................................................ 68
7.5 BEST PRACTICES ...................................................................................................................................... 70
8 BIG DATA IN B2B ................................................................................................................................... 71
8.1 INTRODUCTION TO BIG DATA .................................................................................................................... 71
8.1.1 The five V’s of big data .................................................................................................................. 71
8.1.2 Key types of data that B2B marketers should consider ................................................................. 71
8.1.3 Data sources for B2B marketers .................................................................................................... 72
8.2 TYPES OF BUSINESS ANALYTICS ................................................................................................................... 73
8.2.1 Descriptive analytics ...................................................................................................................... 74
8.2.2 Predictive analytics ........................................................................................................................ 74
8.2.3 Prescriptive analytics ..................................................................................................................... 75
8.3 HOW DO MARKETERS USE DATA? ............................................................................................................... 75
8.4 CHALLENGES FOR B2B MARKETERS............................................................................................................. 77
8.5 POWER OF DATA ..................................................................................................................................... 78
8.5.1 Technology & human rights .......................................................................................................... 78
8.5.2 GDPR ............................................................................................................................................. 78
9 ACCOUNT-BASED MARKETING (ABM) ................................................................................................... 80
9.1 INTRODUCTION TO ABM .......................................................................................................................... 81
9.1.1 ABM flips the funnel ...................................................................................................................... 81
9.2 INBOUND VS OUTBOUND MARKETING.......................................................................................................... 81
9.3 CASES ................................................................................................................................................... 83
9.4 MAIN CHARACTERISTICS ........................................................................................................................... 84
9.4.1 Identifying & Selecting Target Accounts ....................................................................................... 84
9.4.2 Build Account Intelligence ............................................................................................................. 84
9.4.3 Developing Personalized Content And Campaigns ........................................................................ 84
9.4.4 Advantages of ABM ....................................................................................................................... 85
9.4.5 Challenges of ABM ........................................................................................................................ 86
9.4.6 Account-based marketing tactics .................................................................................................. 86
9.5 KEY TAKE AWAYS ..................................................................................................................................... 86
10 INFLUENCER MARKETING IN B2B .......................................................................................................... 87
10.1 INTRODUCTION ....................................................................................................................................... 87
10.1.1 What is influencer marketing? ................................................................................................. 87
10.1.2 Strengths of influencer marketing ............................................................................................ 87
10.1.3 B2B vs B2C ................................................................................................................................ 89
10.2 WHY WORK WITH B2B INFLUENCERS? ........................................................................................................ 90
10.3 WHAT MAKES A B2B INFLUENCER? ............................................................................................................ 90
10.4 CASES ................................................................................................................................................... 91
10.5 WHERE TO FIND B2B INFLUENCERS ............................................................................................................ 92
10.5.1 Employee influencers ................................................................................................................ 92
10.5.2 Maslow’s hierarchy of employee engagement ......................................................................... 93
10.5.3 Employee influencers ................................................................................................................ 93
10.6 CHALLENGES .......................................................................................................................................... 93
10.7 KEY FINDINGS ......................................................................................................................................... 94
3
, Business Marketing
1 Introduction to Business Marketing
1.1 What is business-to-business (B2B)
Business marketing or B2B (business-to-business) marketing are marketing activities
(marketing of products or services) of an organisation towards other organisations
→ building, maintaining, and expanding relationships with other businesses
B2B Marketing aims to create added value for businesses that implements its products of
services. B2B Marketing seeks to convert this added value into
- leads
- sales opportunities
- and turnover for profit-focused companies
Definition of B2B Marketing
- the practice of individuals, or organizations, including commercial businesses,
governments and institutions,
- facilitating the sale of their products or services to other companies or organizations
- that in turn resell them, use them as components in products or services they offer,
or use them to support their operations
Top B2B Brands – global Top B2B Brands – Belgian
Chemicals Chips Oil Consulting
Polyurethane foam Pharmaceuticals Shipping (tankers)
ERP (Enterprise
Computers Network, telcom Resource Planning) Petroleum
Construction eq. Internet & cloud Consulting Courier sv. technical textiles,
Zinc Video servers
services protective clothing
1.2 Characteristics of B2B Markets
A. Market
B. Buying behaviour
C. Demand
D. Distribution channels
4
Inhoudsopgave
1 INTRODUCTION TO BUSINESS MARKETING ............................................................................................. 4
1.1 WHAT IS BUSINESS-TO-BUSINESS (B2B) ........................................................................................................ 4
1.2 CHARACTERISTICS OF B2B MARKETS ............................................................................................................ 4
1.2.1 The market ...................................................................................................................................... 5
1.2.2 The buying process .......................................................................................................................... 5
1.2.3 The demand ..................................................................................................................................... 5
1.2.4 Distribution channels ....................................................................................................................... 7
1.3 B2B BUYERS ............................................................................................................................................ 8
1.3.1 Commercial businesses (industry & services) .................................................................................. 8
1.3.2 Resellers........................................................................................................................................... 9
1.3.3 Governments ................................................................................................................................... 9
1.3.4 Institutions....................................................................................................................................... 9
1.4 TYPES OF B2B GOODS & SERVICES ............................................................................................................. 10
1.4.1 Components .................................................................................................................................. 10
1.4.2 Capital goods ................................................................................................................................. 10
1.4.3 Supporting goods .......................................................................................................................... 10
1.5 CREATING VALUE IN B2B .......................................................................................................................... 11
1.5.1 Porter’s value chain (Michael Porter) ............................................................................................ 11
2 DECISION MAKING UNIT & DECISION MAKING PROCESS (DMP) ........................................................... 12
2.1 THE DECISION MAKING UNIT .................................................................................................................... 12
2.1.1 The initiators ................................................................................................................................. 12
2.1.2 User ............................................................................................................................................... 13
2.1.3 Influencer....................................................................................................................................... 13
2.1.4 Gatekeeper .................................................................................................................................... 13
2.1.5 Decision Maker .............................................................................................................................. 14
2.1.6 Buyer ............................................................................................................................................. 14
2.1.7 Importance of DMU for B2B marketeer ........................................................................................ 14
2.1.8 Key factors that initiate the buying process .................................................................................. 15
2.1.9 Buying situations ........................................................................................................................... 15
2.2 DECISION MAKING PROCESS (DMP) ........................................................................................................... 16
2.2.1 Awareness ..................................................................................................................................... 16
2.2.2 Investigate ..................................................................................................................................... 16
2.2.3 Evaluate ......................................................................................................................................... 17
2.2.4 Purchase ........................................................................................................................................ 17
2.2.5 Engage........................................................................................................................................... 17
2.2.6 Advocacy ....................................................................................................................................... 17
2.3 IMPORTANCE OF UNDERSTANDING THE DMP & DMU................................................................................... 18
3 ENVIRONMENTAL ANALYSIS ................................................................................................................. 18
3.1 IMPORTANCE OF ENVIRONMENTAL ANALYSIS ................................................................................................ 18
3.2 ENVIRONMENTAL ANALYSIS: 3 LEVELS & 3 TOOLS .......................................................................................... 18
3.3 MACRO ANALYSIS: PESTLE ...................................................................................................................... 19
3.3.1 Political Factors ............................................................................................................................. 19
3.3.2 Economic factors ........................................................................................................................... 19
3.3.3 Social factors ................................................................................................................................. 21
3.3.4 Technological factors .................................................................................................................... 22
3.3.5 Legal Forces ................................................................................................................................... 22
3.3.6 Environmental Factors .................................................................................................................. 23
3.3.7 Ethical Factors ............................................................................................................................... 23
3.3.8 Where to find the data? ................................................................................................................ 24
3.3.9 How to implement the PESTLE data you found? ........................................................................... 24
1
,Business Marketing
3.4 ENVIRONMENTAL ANALYSIS: MICRO LEVEL ................................................................................................... 24
3.4.1 Micro-environment analysis: Porter’s 5 forces .............................................................................. 25
3.5 ENVIRONMENTAL ANALYSIS: ORGANISATIONAL LEVEL ..................................................................................... 28
3.5.1 SWOT analysis – definition ............................................................................................................ 29
3.5.2 SWOT analysis ............................................................................................................................... 29
4 STRATEGIC CHOICES .............................................................................................................................. 31
4.1 B2B MARKETING: LEVEL OF PLANNING ....................................................................................................... 31
4.1.1 Strategic planning ......................................................................................................................... 32
4.1.2 Tactical planning ........................................................................................................................... 32
4.1.3 Operational planning .................................................................................................................... 32
4.2 TOOLS .................................................................................................................................................. 33
4.2.1 1. Value disciplines (Treacy & Wiersema) ..................................................................................... 34
4.2.2 2. Ansoff matrix ............................................................................................................................. 38
4.2.3 3. Boston Consulting Group Portfolio analysis .............................................................................. 41
5 OMNICHANNEL MARKETING IN B2B ..................................................................................................... 46
5.1 INTRODUCTION TO OMNICHANNEL MARKETING ............................................................................................. 46
5.1.1 Omnichannel is the standard, not the exception. .......................................................................... 47
5.2 THE B2B BUYER (CUSTOMER) JOURNEY ...................................................................................................... 48
5.3 BUILDING AN OMNICHANNEL STRATEGY ...................................................................................................... 49
5.4 KEY TAKEAWAYS ..................................................................................................................................... 52
5.5 RECAP OMNICHANNEL ............................................................................................................................. 52
6 DIGITAL TRANSFORMATION .................................................................................................................. 53
6.1 WHAT DIGITAL TRANSFORMATION IS .......................................................................................................... 53
6.2 DIGITAL TRANSFORMATION – TRIGGERS ...................................................................................................... 53
6.3 DIGITAL TRANSFORMATION – 4 AREAS ........................................................................................................ 53
6.3.1 1. Proces transformation ............................................................................................................... 54
6.3.2 2. Business model transformation ................................................................................................. 55
6.3.3 3. Domain transformation ............................................................................................................. 55
6.3.4 4. Culture/ organizational transformation .................................................................................... 55
6.4 WHY DO DIGITAL TRANSFORMATION? ........................................................................................................ 56
6.5 TWO IMPORTANT ELEMENTS IN DIGITAL TRANSFORMATION ............................................................................. 57
6.5.1 Digital maturity ............................................................................................................................. 57
6.5.2 Digital intensity ............................................................................................................................. 58
6.6 CAPABILITIES VS PITFALS ........................................................................................................................... 58
6.7 RECAP DIGITAL TRANSFORMATION ............................................................................................................. 59
7 CONTENT MARKETING .......................................................................................................................... 60
7.1 INTRODUCTION TO CONTENT MARKETING..................................................................................................... 60
7.1.1 The importance of content marketing for B2B increases .............................................................. 60
7.1.2 Zero moment of truth .................................................................................................................... 61
7.1.3 The four C’s of content marketing ................................................................................................. 61
7.2 WHY ENGAGE IN CONTENT MARKETING? ..................................................................................................... 61
7.2.1 Brand awareness ........................................................................................................................... 62
7.2.2 Trust and credibility ....................................................................................................................... 63
7.2.3 Lead generation ............................................................................................................................ 63
7.2.4 Informing ....................................................................................................................................... 64
7.3 HOW SET-UP A CONTENT MARKETING STRATEGY?.......................................................................................... 64
7.3.1 Identify your target audience ........................................................................................................ 65
7.3.2 Set clear goals and objectives ....................................................................................................... 65
7.3.3 Audit your existing B2B content .................................................................................................... 65
7.3.4 Determine distribution channels ................................................................................................... 65
7.3.5 Determine content types for B2B markets .................................................................................... 66
7.3.6 Create a content calendar ............................................................................................................. 66
7.3.7 Monitor content performance ....................................................................................................... 67
2
,Business Marketing
7.4 EFFECTIVE B2B CONTENT FORMATS ............................................................................................................ 68
7.5 BEST PRACTICES ...................................................................................................................................... 70
8 BIG DATA IN B2B ................................................................................................................................... 71
8.1 INTRODUCTION TO BIG DATA .................................................................................................................... 71
8.1.1 The five V’s of big data .................................................................................................................. 71
8.1.2 Key types of data that B2B marketers should consider ................................................................. 71
8.1.3 Data sources for B2B marketers .................................................................................................... 72
8.2 TYPES OF BUSINESS ANALYTICS ................................................................................................................... 73
8.2.1 Descriptive analytics ...................................................................................................................... 74
8.2.2 Predictive analytics ........................................................................................................................ 74
8.2.3 Prescriptive analytics ..................................................................................................................... 75
8.3 HOW DO MARKETERS USE DATA? ............................................................................................................... 75
8.4 CHALLENGES FOR B2B MARKETERS............................................................................................................. 77
8.5 POWER OF DATA ..................................................................................................................................... 78
8.5.1 Technology & human rights .......................................................................................................... 78
8.5.2 GDPR ............................................................................................................................................. 78
9 ACCOUNT-BASED MARKETING (ABM) ................................................................................................... 80
9.1 INTRODUCTION TO ABM .......................................................................................................................... 81
9.1.1 ABM flips the funnel ...................................................................................................................... 81
9.2 INBOUND VS OUTBOUND MARKETING.......................................................................................................... 81
9.3 CASES ................................................................................................................................................... 83
9.4 MAIN CHARACTERISTICS ........................................................................................................................... 84
9.4.1 Identifying & Selecting Target Accounts ....................................................................................... 84
9.4.2 Build Account Intelligence ............................................................................................................. 84
9.4.3 Developing Personalized Content And Campaigns ........................................................................ 84
9.4.4 Advantages of ABM ....................................................................................................................... 85
9.4.5 Challenges of ABM ........................................................................................................................ 86
9.4.6 Account-based marketing tactics .................................................................................................. 86
9.5 KEY TAKE AWAYS ..................................................................................................................................... 86
10 INFLUENCER MARKETING IN B2B .......................................................................................................... 87
10.1 INTRODUCTION ....................................................................................................................................... 87
10.1.1 What is influencer marketing? ................................................................................................. 87
10.1.2 Strengths of influencer marketing ............................................................................................ 87
10.1.3 B2B vs B2C ................................................................................................................................ 89
10.2 WHY WORK WITH B2B INFLUENCERS? ........................................................................................................ 90
10.3 WHAT MAKES A B2B INFLUENCER? ............................................................................................................ 90
10.4 CASES ................................................................................................................................................... 91
10.5 WHERE TO FIND B2B INFLUENCERS ............................................................................................................ 92
10.5.1 Employee influencers ................................................................................................................ 92
10.5.2 Maslow’s hierarchy of employee engagement ......................................................................... 93
10.5.3 Employee influencers ................................................................................................................ 93
10.6 CHALLENGES .......................................................................................................................................... 93
10.7 KEY FINDINGS ......................................................................................................................................... 94
3
, Business Marketing
1 Introduction to Business Marketing
1.1 What is business-to-business (B2B)
Business marketing or B2B (business-to-business) marketing are marketing activities
(marketing of products or services) of an organisation towards other organisations
→ building, maintaining, and expanding relationships with other businesses
B2B Marketing aims to create added value for businesses that implements its products of
services. B2B Marketing seeks to convert this added value into
- leads
- sales opportunities
- and turnover for profit-focused companies
Definition of B2B Marketing
- the practice of individuals, or organizations, including commercial businesses,
governments and institutions,
- facilitating the sale of their products or services to other companies or organizations
- that in turn resell them, use them as components in products or services they offer,
or use them to support their operations
Top B2B Brands – global Top B2B Brands – Belgian
Chemicals Chips Oil Consulting
Polyurethane foam Pharmaceuticals Shipping (tankers)
ERP (Enterprise
Computers Network, telcom Resource Planning) Petroleum
Construction eq. Internet & cloud Consulting Courier sv. technical textiles,
Zinc Video servers
services protective clothing
1.2 Characteristics of B2B Markets
A. Market
B. Buying behaviour
C. Demand
D. Distribution channels
4
