The buyer-driven marketing is a concept that originated in the value chain . Depending on the actor with the most influence, global value chains are classified into two broad categories: Global value chains based on the product (“buyer-driven GVC”). They tend to have high entry barriers, as many supply chains require capital and technologically intensive based on economies of scale. For example, it is the case of the automobile or aeronautical sector. In these circumstances, the Jamaica Email List value chain depends primarily on producers and the ability of suppliers to deliver the necessary parts and bring the finished products to market.Global value chains based on the buyer (“buyer-driven GVC”). They tend to have much lower barriers to entry. Producers depend on buyers’ decisions, and design and marketing functions take on greater importance. Traditionally, sectors such as agriculture, fashion and toys have been an example of buyer-driven. In some cases, such as the fast fashion industry, supply chains have to adapt very quickly to customer demands, to the point of getting new products to market in as little as one month.The 10 keys to buyer-driven marketingThink of the customer first. A buyer-driven marketing experience must be connected, aligned and personalized with the buyer in mind, not the sales team. For established B2B companies, this may mean rethinking product-based processes to put buyer needs at the center.Manage all your data from one place. A frequent problem of companies that consider doing buyer-driven marketing is that the buyer’s data is dispersed or even repeated in different parts of the company. To solve this, you need to gather all this data in a single source of information.
Normally, the most efficient solution is to integrate all the information through a CRM (customer relationship management) program .Make yourself available to the client. In the world of B2B marketing , account-based marketing is trending. But in addition to proactively contacting your customers, you also need to be available when they come to you and have a reliable monitoring system that allows you to respond quickly to their requests.Be aware of data regulations. In recent years, initiatives such as the RGPD and the CCPA have radically changed the regulation on the processing of personal data. Given that buyer-driven marketing is largely based on collecting and properly treating the data of current and potential buyers, we must be very aware of these regulations and ensure compliance in all phases of the process.Create multi-channel experiences. Before, B2B marketing was organized around business and industry events, such as annual trade shows. Now, with a buyer-driven strategy, it is necessary to be in the channels where customers are. This means that we have to be prepared to communicate with buyers through a variety of channels, be flexible in defining our strategy based on the evolution of their habits and create relevant and meaningful points of contact throughout the buyer journey. .Segmentation works well. Generic and mass marketing has been totally out of date.
What we need is to be able to clearly identify our buyer persona and address exclusively the people who make it up. Luckily, nowadays digital platforms allow for very precise segmentation, which not only takes into account aspects such as demographics or interests, but also previous interactions with our brand.Customize the experience. We know that buyer-driven marketing is based on data, and it is precisely this data that allows us to know what exactly each buyer wants and offer them a unique experience that adapts to their needs and interests. In an increasingly competitive environment, to stand out it is necessary to show the client that we understand them and treat them in a unique and exclusive way.Adapt to changes. If 2020 has taught us anything, it is that the global consumer and marketing landscape can change at any time.
In the digital world, everything is constantly changing. For this reason, your company must have agile processes and be able to change the way it works whenever necessary.Create teams focused on buyer-driven marketing. In the end, moving from product-centric to buyer-centric marketing is a company culture change, and as such affects the way the marketing team works. This change must be reflected in the organization chart and in the way of making decisions to ensure that we are always ready to respond to the needs of the client.Measure the results and optimize your strategy. Today, digital marketing channels allow us to have information about what is happening practically in real time. Therefore, it is essential to have processes to periodically analyze this information, see how customers are responding and make the necessary changes in direction to optimize your buyer-driven strategy.