Good column over at btobonline: Can low price be beat in today’s b-to-b markets?
It’s been a key question for years, but the current marketplace has made the low-price issue even more urgent.
What to do? We like columnist Kay Plantes’ suggestion that B2B companies refocus on their business model strategy.
That’s exactly what some of the midmarket manufacturers we work with have done. Price is a huge issue in this segment, and the recession has certainly made it difficult to avoid getting sucked into self-destructive pricing wars.
But our clients have been fighting back. They’ve taken a close look at what they do that customers value the most, and they’re actively adjusting their business models accordingly, by zeroing in on a niche or approaching customers with more robust offers.
So you can start there. The key then is to follow through on the new business model by linking it directly to marketing strategy and execution you need to achieve your goals. Don’t drop the ball. You’ve got to take that strategic focus, articulate it clearly and run with it, making it the backbone of all communications and interactions you have with current and prospective customers.
The result should be less emphasis on products and prices, and greater emphasis on the unique value your organization provides to customers through your refined business model strategy.
This is what’s meant by “strategic marketing communications.” It’s based on your goals, it’s well grounded and it really gets you somewhere—out of the low-price game.