Ten factors that a person should always remember while doing business to business transactions or marketing are given in ten simple steps. If one follows these then steps, his/her business would be rather successful. So before starting business marketing and business transactions (B2B transactions are also caller Business to Business transactions, it is also called inter- organizational transactions) one should keep in mind, these 10 factors.
1. Finalizing the Budget: One usually waste, quite a lot of time, doing plans, without having a good idea, of what one actually wants and can further afford to spend in his transactions. Usually, these firms and organizations, ends up with the plans they can’t really execute. While these facts might seem to a person, rather a work of common sense, but one would be supersized, it’s really not like that.
2. The Revenue Goals: One should always keep in mind.”What is the increase in revenue that ones plan on achieving from the investment in marketing?” He should always Remember to take into account, the other factors other than marketing expenditures, for example level of competitions in the market; current brand of products, awareness and penetration and also the ability to close his business. (One should always remember the saying, “marketing can lead a horse to water….”.)
3. The Target Markets: Plans should be made for campaigns and tactics, specific to the organization’s target markets. Target markets should always be selected, after going through a “comprehensive strategic planning process”, that is an important part of planning. One should always make a very good research, about the current market before taking this step.
4. Ideal Client Profile: What is the ideal client for a firm or an organization? When one is looking for an answer, one should always think about the size, geography, lifecycle and much more. An organization should always have a client profile, which should be an ideal one, for each and every target market. Ones firm organizations should have good client profile for all the clients and keep a record for all the profiles
5. New and old or Existing Client Goals: How many ideal clients one should expect to bring in, and what should be the average revenue by clients that one would always expect. Which of ones existing clients have the “growing needs” How much revenue dose one expect from the expanded scope of works, which the firm or organization is providing. These are the thing one should always keep in mind before taking this step. One should always keep a record of all this for further use.
6. Determination of Team and Roles: One should decide which professionals should play an important role in execution of the marketing or sales effort. What are the specific tasks, which will be given to them to do? One should always remember that one must play to the people’s strengths and their preferences. Then only he can run his team properly and give every people their proper roles and responsibilities. One should look for good managers and dedicated workers.
7. Marketing Foundation: One should always pre-determine, what will the team needs, in order to carry out their respective roles, some of the Examples of “marketing foundation items” are, memberships, collateral, LinkedIn profiles, social networking websites, trainings, inspections etc. Websites and Social networking sites may also be a good option.
8. Tactics: One should examine, what are the different communications tactics, which should be used, so that, the target audiences are easily reached. The “marketing foundation” should always support the tactics, which have been identified previously. Proper marketing tactics plays a very important role in B2B or Business to business transactions.
9. Timeline: It is one of the most important components which are often overlooked. There should always be a detailed timeline, by either a month or a quarter. The document should further break down to, “who is doing what and by when”. The Timelines helps to ensure that the marketing plans don’t get postponed for some reason. Timeline plays an important role in Business to business transactions. Whatever the situation or circumstances are one should always make sure that he/she meets the timeline.
10. To Buy-in: Another important factor, which is very often overlooked! Senior leadership should always buy into the plan, and should be willing to hold it by them, doing a part of the marketing and the other professionals are also accountable for the successful implementation of the idea.
If one is new into business or have to set up a new firm or organization, he/she should follow the ten simple steps for his success in his business. Not only the Chair person or the managers, but also the other members and fellow workers should always follow these ten steps, for a better marketing procedure and transactions. If every member of the firm or the organization dedicatedly follows all the ten steps and do their appropriate roles. The organization would be a successful one. One should never forget his/her responsibilities and duties. He/she should always look for good opportunities, Success would automatically come and him and his organization.
A writer with a particular interest in sharing blogging tips, Christina also writes about special coupon and discount offers such as weight watchers discounts and ediet coupons. He currently writes for a coupon blog that offers photos.com promo code and ecco coupon.