While there's no denying email marketing works wonders for the general consumer, does it work in business to business sales and marketing campaigns?
Email marketing is an excellent and inexpensive way to incentivize existing and new customers to make a purchase. While it has its uses in consumer related sales, whether it applies in B2B (Business to Business) marketing and sales efforts remains somewhat uncertain. In order to clarify its benefits, its best to explain how it can not only help in B2B sales, but how it helps to increase a company’s market share.
Companies use email marketing as a tool to deliver product or service information directly to their existing or potential customers. In doing this, a company may include a market and industry newsletter, product or service specifications, information on product usage as well as a summary of a given customer’s account.
There are some inherent benefits of email marketing that make it a must have for any business involved in selling to other businesses. It’s an ideal way of keeping existing and new customers up to date with a company’s product offering. In essence, the message provided to customers is focused and direct to their concerns.
1. Email Marketing Focuses on Specific Market Segments
Email marketing allows companies to deliver time sensitive product & service information to both existing and potential customers. It incentivizes customer retention and loyalty by providing discounts, rebates and reward programs on a company’s best products or services. Most importantly, it focuses its efforts on those parties most interested in gaining that information.
2. Email Marketing Focuses on Relevant Decision Makers
Those industry and market newsletters speak directly to a customer’s key decision makers. Some campaigns have multiple newsletters addressed to an account’s different decisions makers. For instance, one newsletter might discuss new emerging technologies and design trends for engineers, while another will provide a big picture view of the industry as a whole for presidents and business owners.
3. Email Marketing Reduces Overall Marketing Costs
Every business wants to reduce their cost structure. Being able to keep customers loyal and buying, without spending too much, is a direct benefit. Marketing is the vehicle by which a company uses to lower its costs of finding and keeping customers. Email allows companies to lower these costs as their only real costs pertain to managing the email list.
4. This Marketing Approach Improves Sales Cycles
When companies look to the benefits of lower sales times, they immediately notice a higher inventory turnover rate. In addition, faster turn around times on sales means a company invoices quicker and gets paid faster. Improving sales cycle times increases market share and turn around time on turning prospects into consistent clients.
Email can be a valuable tool for business to business marketing and sales efforts. Companies know that to retain customers means to grow business. Keeping track of existing customers and incentivizing them to continue purchasing, is a direct benefit of this marketing approach.
Comments