[vc_row css=”.vc_custom_1629803910077{margin-bottom: 24px !important;}”][vc_column][vc_column_text] Value Marketing in B2B
There is no doubt that an objective assessment of the factors affecting the functioning of marketing and sales activities has an impact on the year-end graphs. Value-based marketing has become an important part of the B2B marketer’s toolkit as a result of shrinking margins, digital transformation in the need for brands to differentiate and the wind blowing in today’s business environment.
Changing social conditions are causing price to lose its importance in purchasing decisions. In light of statistical data showing that price is not the main priority for 80% of B2B buyers, it is not surprising that marketers who try to compete based on price alone and neglect value marketing will lose a significant portion of their market to entrepreneurs who use behavioral data as their guide. [/vc_column_text][/vc_column][/vc_row][vc_row css=”.vc_custom_1629803910077{margin-bottom: 24px !important;}”][vc_column]
Social change is also driving a powerful shift in B2B marketing. Socially conscious businesses recognize that many consumers now demand that businesses walk the walk on social responsibility.
For example, in response to consumer pressure, an increasing number of companies are stepping up their environmental stewardship and demanding that their B2B partners do the same.
As B2B businesses adapt to these changes, it is imperative to measure the benefits their customers derive from their products and services. Otherwise, marketing content becomes superficial and unfounded.
Customer value management software can help this process by providing B2B businesses with the necessary data to use in marketing for innovations, tracking and quantifying ROI on value-based marketing activities.
B2B Marketers can exceed buyer expectations and gain loyal customers by using four types of customer-centric value marketing that greatly influence buyers:
1. Economic Value
2. Economic Value
3. Social Value
4. Psychological Value
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Marketers can take into account how functional, social and psychological values positively impact ROI. Smart buyers recognize the trade-off between these values and the monetary cost of products or services. They are willing to pay more because they believe they will gain more in the end. [/vc_column_text][/vc_column][/vc_row][vc_row][vc_column]
Marketers can take into account how functional, social and psychological values positively impact ROI. Smart buyers recognize the trade-off between these values and the monetary cost of products or services. They are willing to pay more because they believe they will gain more in the end. [/vc_column_text][/vc_column][/vc_row][vc_row][vc_column]
Today, a new understanding of social value has emerged that weighs a product’s contribution to people’s lives against its social costs. Businesses are responding to consumer demands by prioritizing issues such as ethical sourcing, gender equality, minority representation, living wages, work-life balance and environmental responsibility.
B2B marketers who recognize the need for businesses to respond to these growing social trends will benefit, while those who ignore them will lose market share to smarter competitors. [/vc_column_text][/vc_column][/vc_row][vc_row][vc_column]
If they are setting up a retail outlet, their primary motivation will involve the brand experience they are trying to create. They will focus more on how it can increase their future earnings than on the cost of creating brand alignment.
An online business that hires a content creation agency wants the content to reflect and enhance the brand image, hoping that it will increase the perceived value of the brand to consumers. [/vc_column_text][/vc_column][/vc_row][vc_row][vc_column]