How to craft a B2B industrial marketing strategy

Industrial companies are looking to develop and execute marketing strategies for 2021 and beyond.

These companies are now considering how to invest in their marketing. With so much up in the air, industrial brands need to make the most out of every dollar to stay ahead in an uncertain climate. 

Your Industrial Marketing Strategy Guide

To support you with your marketing efforts, we have developed an Industrial Marketing Strategy Guide as a trusted resource.

Consider the following key steps:

Step 1: Aligning Objectives and Understanding Your Customer.

• Start with defining your market. What are the characteristics of the businesses you are aiming to sell to? How many of them are there? What is your market share and how is it trending?
• Break your target customers down into distinct segments based on their profiles, both as businesses and individuals: their needs, value drivers, behaviours, and aspirations. Where relevant and meaningful, use buyer personas to illustrate these customers.
• Define the value of a customer in each segment (e.g. their lifetime value, annual value, average order value). Identify which customer segments represent your ‘best customers’.
• Identify and examine your internal strengths and weaknesses? External threats and opportunities?
• Who are your key competitors in the market and what share of the market do they have? How do they differentiate themselves from your business/brand?
• How does your business/brand meaningfully differentiate itself from your key competitors? What is the unique value proposition that makes you different and preferable?
• What does your marketing strategy need to focus on achieving at a strategic level? This could be: growing share of wallet from existing customers, acquiring new business, and/or increasing the share of a particular segment.
• What will you focus on in the next year to achieve the goals identified above?

Step 2. Your Value Proposition and Medium Mix Strategy

• Identify your product and service attributes? Examine the functional benefits they produce.
• List the emotional benefits experienced? Can you quantify these benefits?
• Examine the mediums you will use: Paid media, Owned/granted media, Earned media, and/or Partner/channel marketing.

Step 3. Content Development

• What types of content will you need to support your marketing efforts? These could include white papers, research reports or videos. What types of sales support materials will you require?

Step 4. Sales Lead Management

• How will you generate, tracking, score and deliver qualified sales leads for effective business development?
• What marketing technology and database development will you need to support your lead generation campaigns?

Step 5. Internal Marketing and Reporting Metrics

• How will you “sell” the strategy to your key stakeholders?
• How will you onboard your salesforce?
• How will you measure and report on success against your strategic and tactical objectives?
• What will your reporting dashboard look like and which particular metrics will be your critical KPIs?

These key steps aim to help industrial companies plan ahead, set priorities, and accelerate their response during an uncertain environment.

One thing remains certain as we venture into 2021 and beyond. Those who can re-invent their approach and look for new opportunities will not only survive but thrive moving forward.

Related: Download your free Marketing Strategy Check List – Template

Related: Download your free Marketing Strategy Guide

INDUSTRIAL MARKETING STRATEGY GUIDE

Learn how to build a superior marketing strategy to achieve the ROI you deserve with your marketing goals and objectives. We examine how to best optimise your medium mix, manage your leads and new opportunities to best prepare your salesforce for organic growth. The market follows those who lead. And it’s the brands that challenge, create change and have the ability to inspire the people around them who will win with their Marketing Strategy.

ABOUT THE AUTHOR

Peter Zafiris is an industrial marketer and founder of Industrial Ideas. Having built his experience in B2B marketing from the ground up, Peter understands what it takes to succeed with your marketing strategy. All client projects are personally managed by Peter to help industrials like you get the return on investment you deserve. Peter and team, work hard to become an extension of your business, to help you get the most out of your marketing efforts. Get your free 30 minute marketing consultation to learn more.