Industrial marketing is a practice often seen in the business world. It is essential for the day-to-day operations of many companies and is the reason most are still in business today. Industrial marketing is defined as the process of one business marketing a certain good or service to another business. This is not to be confused with consumer marketing, which is the process of a business marketing their goods or services to an individual for personal use.
Industrial vs. Consumer Marketing
For instance, Red Crow Marketing providing its expertise to help another business reach potential clients is referred to as industrial marketing. Whereas, technology companies manufacturing computers to sell to individuals from their website is considered consumer marketing. The main difference between consumer and industrial marketing practices is the number of goods or services being transferred from one business to another. Most instances involved with industrial marketing include a large number of goods being purchased, as opposed to consumer marketing generally dealing with only one item. A school purchasing 300 computers for their students to use or a business signing a contract to have a marketing company advise them for a year involves a mass quantity of goods or services being purchased, thus categorizing it as industrial marketing.
How to Use Industrial Marketing
The best way for a business to determine the target of their industrial marketing is to know who is best suited for the good or service being provided. What companies could benefit the most from what is being offered? Obviously, an oil company has no business contacting a home goods store to see if they are interested in their product. Once a list has been made of who could benefit from what is being provided, the next step is contacting and marketing towards the target businesses. Newer marketing trends point towards developing a user and mobile-friendly website to showcase what is being offered while being active on social media platforms. This is essential to being successful in industrial marketing, but old-school tactics such as flyers and cold calling can be effective as well.
What Makes it Stand Out?
One way to convince a business to enter an agreement is by developing a quality relationship. Once that is established, the two companies can begin working out a deal for the goods or services. A great way to help close a deal is to offer a discount to the company wanting to purchase a mass quantity; a discount that wouldn’t be offered to a general consumer purchasing a much smaller quantity at the regular price. This discount will be seen as a benefit to doing business with this company and will lead to other future sales.
To find out more about how Red Crow Marketing can help with your industrial marketing needs, visit contact us today.