Trade Marketing is a form of B2B marketing that specializes in getting products in front of customers before they decide on purchasing them. Unlike traditional marketing, this type usually targets businesses and supply chain partners such as retailers, wholesalers and distributors who in return sell these products to their customers.
Trade marketing tactics are used majorly by manufacturers who use these strategies to create demand for their products. Since retailers and wholesalers have a wide variety of manufacturers to choose from, the B2B manufacturers have to go along an extra way in persuading them and their consumers. Just like, there is a restricted shelf space, B2B manufacturers have to work hard with their marketing skills to get their products on. If, for instance, they don’t use any well-sought trade marketing strategy, their profitability, manufacturing efforts and revenue generation, can all go in vain.
Let’s see some important trade marketing campaigns that can make a huge difference for B2B manufacturers.
1. TRADE SHOWS
In a world where digital marketing is everything for businesses, trade shows have still kept offline networking alive. A trade show is a platform that brings together businesses, manufacturers and companies belonging to various industries under one roof. They network, forge business relations, talk about new trends and promote their products live in front of industry experts, B2B buyers and consumers. Participating in a trade show will help boost marketing campaign as you can improve brand awareness, demonstrate your products and get to know what your competitors are up to.
2. TRADE MAGAZINES AND TRADE SITES
Whichever platform you choose, online or offline – articles and advertisements about your services will bring more attention to your brand. Many high-end retailers are always on a lookout for manufacturers and production companies that can sell the goods in bulk and in good quantities. In this case, your articles and blog posts can do a major difference.
On the other hand, trade sites are useful to showcase your products to global retailers, distributors and B2B buyers. In an online B2B marketplace where the competition rate has almost doubled, listing yourself on a trade site can do wonders in reaching your target buyers and supply chain partners.
3. BRANDING YOUR PRODUCTS
The only way you can get people to trust you is by creating a brand identity for your products. With a strong brand name behind your products, you can easily target retailers and B2B businesses to partner with you and also stay loyal over time. Besides that, customers will also purchase your products if they recognize the brand and its marketing strategies.
4. DIGITAL MARKETING
This isn’t the 19th century anymore. You have to move forward with changing trends and business requirements. Similarly, trade marketers must also be quick to adapt to changes and new marketing campaigns. One such is digital marketing. Almost 70% of your trade marketing tactics can be achieved online – just like digital marketing.
Manufacturers should have active internet profiles and must keep in touch with businesses and supply chain partners via social media, emails and content marketing. Their top three areas of getting the most attention are:
- Social Media platforms
- Email Marketing
Yes, phone calls and one-on-one meetings do play a part but you must also understand the power of digital marketing and the scope it brings with just one click. At the end of the day, customer experience is everything, you should work closely on finding where most of your audience is and then choose the platform to target them.
5. PROMOTIONAL OFFERS
Manufacturers need to come up with something out-of-the-box to purchase their services. They can introduce promotional offers and creative incentive ideas to motivate clients and B2B buyers to buy your products. Everyone loves special treatments so does your B2B businesses and retailers.
As a manufacturer, you will have a lot of options to boost your trade marketing campaign. Therefore, pick something that goes well with your target audience, supply chain partners, and brings more profits for you. Besides, if you also focus on improving your own brand and developing a more effective marketing strategy, you will be more productive at the end of the day.