Newsletter should be viewed as an effective marketing tool, and not just an expensive throwaway.
Corporate promotion has long been accepted as an essential ingredient of a sound business, be it B2C or B2B. In today’s highly competitive and fast-moving market, corporate promotion is essential as no firm automatically becomes known to the market; similarly, neither do products get positioned by themselves nor sell because they are superior, are first of a kind, or have an edge over the competition until their differential merits are communicated well to the target customer. Communication is also essential to first create and then maintain brand equity.
B2B industrial marketing is an arduous and heterodox profession compared to B2C, as it is engineering and technology-oriented and end-to-end solution-based. It is also more rational than emotional, and dictated by past customer firm relationship. In addition, due to limited customer base and strategic dependence on a few corporate houses/clients, ongoing relationship with the customer is vital, indispensable and major business asset of the firms. For such B2B firms, the greatest opportunities lie in keeping, retaining, growing and managing the existing customer rather than finding new ones. This heightens the distinct need for building a strong firm-customer relationship through corporate communication and promotion.
The aspects that are important for B2B industrial marketing firms to stay competitive are:
- Unrelenting customer centricity across the organisation as its primary mandate
- A digital-first brand building strategy
This story is from the August 2019 edition of Indian Management.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the August 2019 edition of Indian Management.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Trust is a must
Trust a belief in the abilities, integrity, values, and character of any organisation is one of the most important management principles.
Listen To Your Customers
A good customer experience management strategy will not just help retain existing customers but also attract new ones.
The hand that feeds
Providing free meals to employees is an effective way to increase engagement and boost productivity.
Survival secrets
Thrive at the workplace with these simple adaptations.
Plan backwards
Pioneer in the venture capital and private equity fields and co-founder of four transformational private equity firms, Bryan C Cressey opines that we have been taught backwards in many important ways, people can work an entire career without seeing these roadblocks to their achievements, and if you recognise and bust these five myths, you will become far more successful.
For a sweet deal
Negotiation is a discovery process for both sides; better interactions will lead all parties to what they want.
Humanise. Optimise. Digitise
Engaging employees in critical to the survival of an organisation, since the future of business is (still) people.
Beyond the call of duty
A servant leadership model can serve the purpose best when dealing with a distributed workforce.
Workplace courage
Leaders need to build courage in order to enhance their self-reliance and contribution to the team.
Focused on reality
Are you a sales manager or a true sales leader? The difference, David Mattson, CEO, Sandler® and author, Scaling Sales Success: 16 Key Principles For Sales Leaders, maintains, comes down to whether you can see beyond five classic myths that we often tell ourselves about selling.
