Are you an owner of a Small and Medium-Sized Enterprise (SME) here in Malaysia? If you are, you may have come across certain struggles to obtain products and services to produce your end-product. After all, the competition is fierce! The SMEs represent 98.5% of all registered businesses in Malaysia and contribute to 66.2% of the total employment here. With that said, Malaysia’s SMEs must step up and stand out from the crowd in showcasing their brand and product.
However, with limited resources at hand, how is Malaysia’s SMEs going to produce the products and services they need to increase their client base? Here is where B2B companies come into play.
What is B2B and Its Role in Malaysia’s SMEs?
B2B means “business-to-business”. This term refers to a business that is conducted between companies, rather than a company and an individual customer. Unlike yours, or other companies whose targets are made up of customers; B2B companies have an entirely different target audience. They offer raw materials, finished parts, products and services that other businesses need to operate and profit. B2B transaction is indeed ideal for Malaysia’s SMEs, who may not have sufficient resources to begin or continue their business.
Overall, B2B companies are supportive enterprises that offer the things you need for your business to grow. If you own a small business, you will likely have to work with B2B companies at some point in your journey. The question is, how does the SMEs in Malaysia market themselves to these companies and show that they’re the right fit to work with?
B2B Marketing Tips for Malaysia’s SMEs
Marketing and branding B2B products and services are crucial and require unique approaches. Marketing to businesses is different from marketing to individual customers, thus needing other marketing methods. With that said, here’s a few B2B tips on how to better market yourself and your company :
1. Establish Good Business Client Relationships
The emphasis on B2B marketing should be on building relationships, and not merely pushing your brand towards the business clients you want to work with and leveraging social networks. Building good business-to-business relationships are essential in maintaining a pleasant interaction throughout the process.
A business-to-business relationship needs time to nurture. It is usually (and ideally) done by a well-trained, knowledgeable sales team to help build effective relationships and professional interactions. Not only that but interacting with other businesses also means that you will be speaking directly with high-level company decision-makers. Therefore, setting a knowledgeable team to build effective relationships with other companies is vital and improves the chances of landing a sale.
2. Demonstrate the Value of the Business
Another key to market your products, services and your company, is by demonstrating the value people can get while working with you. Just like any other businesses alike, one marketing strategy that can attract and retain clients or partners is giving them value through the business you do.
For example, if your production process is smooth-running, highlight the efficiency potential customers could get. If you’re an SME owner, and your services increase traffic flow to a website; highlight the potential added revenue that can be gained. That’s because, in business, it all boils down to profitability. Also, business clients are driven by logic and financial incentive. There’s hardly anyone who would want to do business with someone if they cannot see what they can get from it.
3. Highlight the Overall Return of Investment (ROI)
For small business owners, highlighting the overall Return of Investment (ROI) is essential not just for B2B companies, but in almost every business alike. ROI is important for the potential partners to know what they can expect from your product and services once they invest in you.
If you’d like potential business clients to work with you, make sure to highlight the ROI as it is a way for them to evaluate and compare investments and observe the possibility to generate income. It can also help potential partners in their decision-making by referring to the ROI and screen potential investments. ROI also works for good to SME business owners as you can use it to measure and see how well you are performing. It can be handy to identify areas in your business that may need some improvement.
4. Apply Marketing Practices to Raise Awareness of Your Business
B2B marketing often relies on sales functions to establish and strengthen the presence of the business or company. With that said, it is also vital for SME business owners to raise awareness of their products, services and company. These can be done by applying various marketing practices.
SME owners can go back to the basics by utilizing traditional marketing practices to connect with business clients. Traditional marketing can refer to any marketing that is not online-based such as trade publications in print, broadcast, direct mail and more. Besides that, SME owners should also make use of the Internet for digital marketing to promote their products and services. This marketing practice can range widely, reaching business clients from near and far with content marketing through social media, and other digital media platforms.
In the process of marketing, you would want to attract business clients to choose your product or services. But how are you going to do that amidst other competition? The key is to stand out among the crowd. SME owners can start by standing out visually with impressive and professional branding and design. On top of that, SME owners can also engage in comprehensive digital marketing services to help their business tap into the mass global audience.
5. Optimize Your Digital Presence
By using different marketing practices to showcase your business, not only should it be informative and engaging, but it should also be easily discoverable anywhere across platforms; primarily online. SME owners can increase their chances of being assured and discovered by business clients by optimizing their digital presence.
SME owners can establish a strong online presence through Search Engine Optimization (SEO). Through SEO tactics, SME owners can achieve higher brand visibility and promote themselves across various platforms. Optimizing their site to be SEO-friendly can increase web traffic flow and website visibility on search engines.
With that said, SME owners can tap into this strategy to better market themselves to other business clients. SME owners can get some help from digital and creative agencies like Walk Production for professional and comprehensive SEO solutions for their businesses.
Benefits of Good B2B Marketing to Malaysia’s SMEs
Malaysia’s SMEs can gain many benefits with effective B2B marketing. The adaptation of B2B in business transactions can significantly facilitate communication between the buyer and seller more quickly and cheaply. On top of that, good B2B marketing also allows for new business opportunities locally and globally. That also means that SMEs will now have the opportunity to compete with more prominent companies.
What’s the Role of Creative Agencies in Helping SMEs Market Themselves?
As mentioned, SME business owners need to create a strong presence online and offline. That way, business clients and partners can take notice of you and get a sneak peek of what your business has to offer. It is entirely up to SME owners in whether or not they would like to execute and maintain their promoting activities by themselves.
However, if you’re an SME owner and have too much on your plate, you can always opt for some help from digital and creative agencies. These agencies not only can assist you in producing the quality content you need, or branding and design that you want; but they can also help you maintain and manage your digital marketing platform as required.
Find Everything You Need to Grow Your Business with Walk Production
Hence, if you ever needed some extra help in marketing yourselves, or stand out among the crowd; let Walk Production be a one-stop solution for you. Walk Production is a creative agency with rich experience in branding, design, SEO services, digital marketing and more. Truly, the team at Walk Production have everything you need to maximize your business’ full potential.
If you’re curious about what services we have to offer, you can always contact us here for detailed and comprehensive solutions for your business.