#20 B2B in 2021 is the Key to Focusing on the US Market

Educational seminar for industry case studies

The pandemic has made the role of marketing more important than ever. According to the recently conducted Chief Marketing Manager (CMO) Survey’ in North America, 62.3% of companies responded that they would further strengthen marketing. They are busy establishing marketing strategies to prepare for a new market structure and environment in 2021.

According to market analysis in 2021, the outlook for the B2B market is brighter than that of the B2C market.  Marketing costs to promote businesses are also expected to increase significantly. Especially during a time of crisis, selling to B2B markets is a faster way to expand businesses quickly. 

Even if it is a consumer-related product that targets end users, it is important to connect it to a B2B business that acquires large-scale buyers through a method that attracts their needs. This is the reason why selling to B2B markets is more effective during a crisis. Here are four points that should not be missed in the process of establishing a B2B marketing strategy for the North American market.

Account Based Marketing (ABM), a B2B global sales marketing approach, is expected to play a larger role in the post-pandemic era. It may seem like simple email marketing, but the approach is substantially different. Companies that experience success results greatly realize the effect.

Email marketing without in-depth research is like cold calling,  ABM requires considerable expertise and thorough research because it communicates not only the specifics of the industry, but also the size of the company and the needs of each email recipient delivered at the optimal time. It is meant to develop personalized relationships with each contact based on their needs. In order to increase the success rate of ABM campaigns, various channels and effective approaches are key.

Another important strategy for B2B marketing is to focus on partnerships. The strategy to expand to new target markets in a win-win approach through partnerships is tried and true. Major medical companies in the world are seeking ways to create value in medical care and health treatment by combining digital technologies such as artificial intelligence (AI), virtual reality (VR), remote robots, and home care. 21st century innovations in tech.

CVS, a global pharmacy, is pursuing various types of strategic partnerships as it seeks to implement an end-to-end medical value chain, focused on mobile. If Korean healthcare companies actively join this vision through strategic partnerships, they can seize the opportunity to enter the North American market. Strategic partnerships also help to make effective use of limited resources. For example, a temporary promotional promotional partnership between two of my client companies, health beauty and fashion jewelry, led to big sales through expansion in different markets.

Digital tactics are expected to play an even more important role in the development and expansion of B2B business. While many companies focus on investing in digital marketing, there may be difficulties in analyzing the effects, so a systematic analysis process is important.

“What and how much impact will the website have on sales?” Surprisingly, there are many entrepreneurs who show a strange reaction to digital – some are unfamiliar with the field of B2B marketing. In the era of inbound marketing, websites are the business hub of B2B companies that attract engagement and community sharing like a magnet. The key is the overall process of digital marketing based on clear analysis.

It is also expected that the role of influencers in B2B marketing based on the use of content marketing centered on LinkedIn social media and blogs will become more important. Influencers differ somewhat in their role and range of capabilities depending on the healthcare, IT, or beauty sectors. For example, in the IT industry, the influence of technology analysts (influencers) plays an important role in big buyers and market expansion. Content marketing can be recycled, repurposed, and reproduced, which is effective in strategic communication with influencers. It is important to take a strategic approach to sharing the needed content with them at the optimal timing and connecting them to sales.