industrial marketing

industrial marketing

Distinctive features of industrial marketing

It’s difficult to give a quick, condensed definition of industrial marketing, without
completely downplaying the significance of what it truly is. We like to say that
industrial marketing is marketing goods and services to customers. Though, this
definition doesn’t provide any justice still.

In fact, we find that the best way to explain what industrial marketing truly is all
about is to highlight the most distinctive features of it.

1: It’s extremely complex

A great analogy for industrial marketing follows; consumer marketing is a candy shop
selling candy to a single customer. Industrial marketing is a candy manufacturer
selling thousands of pieces of candy to a candy store. Obviously, the latter is much
more appealing, but this obviously means that it is a little more complicated.

This marketing strategy requires large orders, long-term relationships which makes the
first pitch and sale often more complex. This revolves around the simple fact that
businesses are made up of several individuals, which means you have to impress multiple
people, with numerous different bits of information.

2: Longer sales cycle

A result of industrial marketing being more complicated is a longer sales cycle. When
you pitch to a business, the whole process revolves around calculated decisions,
reviewing, analyzing.

This shouldn’t be seen as a negative, the outcome of industry marketing, as you
probably imagined, is worth any complexity or lengthy process.

3- The variety of marketing

Industrial marketing can mean that you have a wide range of products. Every single
product requires a different marketing strategy, sometimes the difference can be extreme.
To put this into perspective, it is much different to sell, say, a standard motor to a
known business, compared to selling capital equipment to various companies.
The strategies that you may use for the motors won’t be successful in selling large
custom machines. Ultimately, the variety of marketing can be boundless.

4- Low market information

Consumer products have a lot of database information available for them, including
customer demographics. In comparison, information revolving around industrial market
niches are hard to come by. It actually requires a considerable amount of industrial
experience to gather useful market information.

That being said, it isn’t impossible; to gather the information you will need to analyze
the niche in-depth. Information like the number of employees, line speeds, shifts,
sizes, and so on, will all be acquired and you will be able to discover prospective
buyers.

In conclusion

Suffice to say, industrial marketing is hard work but has high rewards. Once you
secure a client/customer, it’s a long-term, secure relationship. There’s a tiny bit of
a knowledge gap when it comes to industrial marketing, which makes the process more challenging, but completely worth it.

3 thoughts on “Distinctive features of industrial marketing

  1. This is a great tip especially to those fresh to the blogosphere.
    Brief but very precise info… Thank you for sharing this one.
    A must read article!

  2. When I originally commented I clicked the “Notify me when new comments are added” checkbox
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  3. You really make it appear really easy along with your
    presentation however I to find this matter to
    be really one thing which I think I’d never understand.
    It seems too complicated and extremely broad for me. I am taking a look ahead on your
    subsequent publish, I will try to get the grasp of it!

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