Who's In The Business: Marketing Ideas for Business-to-Business Success

If your target market includes other businesses,‭ ‬congratulations‭!‬ Unlike many other kinds of target markets,‭ ‬accurate information is widely available‭ ‬regarding specific industries,‭ ‬and this information can make all the difference in generating effective marketing ideas for business-to-business success.‭ nnWho are the best prospects within your‭ ‬target geographical area‭?‬ What trends are making waves in their industries‭? ‬What are their fears and concerns‭? ‬What ways might you be able to position yourself as a key partner for them‭?nnThe good news is,‭ ‬no matter what industry you seek to partner with or serve,‭ ‬chances are good you‭'‬ll be able to extrapolate the answers to‭ ‬these questions and more through information resources widely available on the Web.‭ ‬The bad news is,‭ ‬you‭'‬ll have to pay for‭ ‬some of‭ ‬those‭ ‬resources.‭ ‬But,‭ ‬in almost every case,‭ ‬the cost is minimal compared to the return on investment.‭ nnLet‭'‬s start with the basics.‭ ‬Almost everyone associates Dun‭ & ‬Bradstreet‭ ‬(D‭ & ‬B‭) ‬with the notorious D-U-N-S number,‭ ‬without which it is increasingly difficult to do business.‭ ‬Many more are familiar with the fact that potential partners and suppliers can use your‭ nD-U-N-S number to check your business credit,‭ ‬and that you can do the same to take a‭ ‬look at those with whom you‭'‬re considering a potential partnership.‭ ‬But,‭ ‬few realize just how many ways the near-encyclopedic business listings at D‭ & ‬B can be.‭ nnSay you own an antique-importing business based‭ ‬in‭ ‬Colorado,‭ ‬and are thinking of expanding your business into‭ ‬Arizona.‭ ‬If your best customers tend to be antique dealers with five or less employees,‭ ‬located in urban centers,‭ ‬you might purchase a marketing list from D‭ & ‬B of Arizona-based antique dealers‭ ‬constrained by‭ ‬that criterion.‭ (‬You might also be interested in purchasing an industry report‭ ‬to find out how many other antique-importers are already operating in those areas.‭)nnBefore acting on that information,‭ ‬you‭'‬ll want to see if there is a relevant‭ ‬trade association‭ ‬for antique dealers in the areas encompassed by your list.‭ ‬Trade associations often publish industry reports on important trends affecting their members,‭ ‬whether market-based or legislative.‭ ‬This information can be invaluable to understanding the‭ ‬current‭ ‬needs and desires of your target market.nnNow you‭'‬re ready to contact your prospects.‭ ‬Using the contact information contained in your list,‭ ‬you‭'‬ll want to‭ ‬take the time to introduce yourself,‭ ‬whether over the phone or through direct mail.‭ ‬And let‭'‬s say,‭ ‬in the process of doing so,‭ ‬you‭ ‬find a few key dealers‭ ‬who seem like‭ ‬they would be‭ ‬excellent potential partners.‭ nnUsing the business listings at D‭ & ‬B,‭ ‬a prudent step would be to‭ ‬look up information regarding the sales,‭ ‬credit,‭ ‬business history,‭ ‬etc.,‭ ‬of these businesses to help you make an informed decision regarding the terms of your partnership.‭ ‬That way,‭ ‬you‭'‬ll be able to move forward with both eyes open.nnThe cost of obtaining information like this concerning your potential business‭ ‬customers‭ ‬is minimal compared to the cost of flying blind.‭ ‬The pay-off for doing your homework will come in the form of more effective marketing,‭ ‬more lucrative partnerships and less overall risk.