5 Key Components that Contribute to Great Industrial Marketing

Components of Industrial Marketing

1. Targeting and Personalization

Targeted marketing utilizes customer data to identify key characteristics of the demographic that has the highest chance of purchasing your product and/or services. With this data, you can effectively promote your company to these individuals and ensure even greater success in conversion rates.

For even greater detail, you will need to implement market segmentation strategies to increase the specificity of your targeting efforts. Market segmentation will ensure that your efforts are focused only on the most relevant customers – again, those who are virtually guaranteed to purchase the product (i.e., the decision-makers).

A few key ways you can accomplish market segmentation are:

• Observing what your customers do, instead of what they say.  --  Don’t just rely on surveys – instead, observe consumer behavior in terms of retail patterns (what do they buy and when do they buy it?). Customize promotional ads and email campaigns according to these behaviors.
• Show your customers that you care about more than just their names and cash.   --  This simply means that you must interact with your customers in a way that makes them feel cared for. Thank them for buying products from your business, or wish them Happy Holidays, for example.
• Cater to consumer interests.   --  Part of your marketing efforts should include content creation on multiple platforms and channels. To keep your consumers engaged, create content that they will both care about and enjoy.

2. Inbound and Content Marketing

Content marketing refers to the original content created by your company specifically for customer viewing and/or engagement. This content can include anything from blogs to videos, and even podcasts. Keep in mind that “relevant content” can mean different things to different companies. Across all industries, though, one thing remains the same: The purpose of the content is to drive traffic to a business’s website to increase revenue and brand awareness.

Inbound marketing works hand-in-hand with content marketing. It involves a collection of technologies, tools, and processes that function cohesively, increasing web traffic, generating leads, and boosting conversions. Successful inbound marketing relies on the following elements:

• Capturing customer information on contact forms or tracking visitors on the company website
• Calls-to-action
• Attractive, easy-to-navigate landing pages
• Automated marketing techniques (i.e., automated emails for abandoned carts)
• Contact management integration (or customer relationship management, CRM)
• Email marketing campaigns
• Publishing content on social media

3. Channel Optimization

One of our favorite components of industrial marketing is Channel Optimization.  Companies with effective multi-channel engagement techniques retain a staggering 89% of their customers – whereas those that don’t only hold onto about 33%. Though some of the most common channels include email, social media, messenger bots, and app notifications, you must be aware of what works best in the context of your industry and organization.

You need to define your audience’s preferred media channels by asking the following questions:

• What needs are my product, service, and content resolving?
• Through what channels are customers most likely to find my product and/or service?
• What are the primary characteristics of my target audience?
• What type of content is the most engaging for my audience? What content is the most likely to convert?
• Does my audience use mobile devices, desktops, laptops, or other devices to engage with my content?

4. Develop Partnerships

Partnership marketing is to the B2B industry, what collaborations are to the music and entertainment industry. Customers get excited when they see two (or more) of their favorite organizations teaming up to give them the best service they’ve ever had. Think about it: How much more excited do you get at the opportunity to see a Disney-Pixar film instead of just a Disney film? Both are exciting, while one has just a bit more spice.

Usually, the primary brand has a product or service that compliments the other’s, so both use their target audiences to boost their own and each other’s product and/or service. The types of partnerships you should consider are:

• Affiliate marketing
• Collaborative content or product development
• Charitable or nonprofit fundraisers
• Stores that feature both yours and your partner company’s products
• Sponsorships

5. Continue to Delight Your Customers

Many marketing experts believe that a positive customer experience is the most important marketing tool. A study by the Temkin Group has revealed that, for a company that makes approximately $1 billion in revenue annually, an enhanced customer experience resulted in an increase of $823 million in revenue over a period of only three years.

Consumers can sniff out disingenuous marketing efforts from a mile away. All you must do is ensure that all of your efforts, in all of the steps listed here and beyond, are genuine, impeccably tailored to your audience, and reach past the superficial engagement meant just for clicks.

You need an effective, viable marketing plan, be able to pay attention to numerous details, and be aware of the changes that rapidly occur in your industry and amongst your consumers.  By incorporating all the above components of industrial marketing into your industrial marketing strategy, your business will remain relevant to the exact demographic you want and keep your business thriving.