8V’s Framework for B2B Marketing

8V’s Framework for B2B Marketing

 

“Everything is worth what its purchaser will pay for it”. 

Publilius Syrus, 1^st Century BC

 

The B2B marketing landscape is characterized by its perpetual state of flux, constantly evolving, and adapting to new technological advancements and market dynamics. In this fast-paced environment, B2B firms need to re-visit the very ‘purpose’ to serve the markets to the best of their abilities.  To achieve their overarching goals, a B2B firm need to encompass critical objectives, which are basic to the existential of an organization. These objectives can be broadly categorized into five key areas: Choosing Value, Creating Value, Delivering Value, Communicating Value and Sustaining the Value.

1. Choosing Value: B2B enterprises are engaged in the meticulous process of selecting and prioritizing value propositions that align with their strategic objectives. This involves careful analysis of market trends, customer demands, and competitive landscapes to make informed decisions on choosing the right value.
2. Creating Value: Once the optimal value propositions are identified, B2B firms embark on the journey of creating value for their customers. This often involves innovation, product development, and service enhancements to meet the evolving needs and preferences of their target audience.
3. Delivering Value: The effective delivery of value is a critical component of B2B marketing. This entails streamlining supply chain operations, optimizing logistics, and ensuring that products or services reach customers promptly and efficiently.
4. Communicating Value: Even the best product/Solution can’t sell on its own. It requires right communication tools to create right degree of awareness. In the digital age, effective communication is paramount. B2B companies leverage various channels, such as content marketing, social media, and email campaigns, Account Based Marketing (ABM) to convey their value propositions to the right audience at the right time.
5. Sustaining the Value: When organisations become complacent on the existing laurels of value, and historically that has provided enough growth momentum in their markets, seldom see the success. Value creation and sustaining the value through continual innovation is inevitable. Sustaining value involves continuously adapting to changing market conditions, innovating products or solutions that his accounts have not even realised, that a solution can exist of this nature and can amplify stakeholders value.

Based upon the above listed five key objectives of a B2B firm, and as we slice and dice them, there are eight core dimensions, as I referred to as the 8V’s Framework for B2B Marketing, that underpin contemporary B2B marketing strategies:

8V’s Framework ©sanjeevpadashetty

1. Value: The central focus remains on delivering superior value to customers, ensuring that products or services meet or exceed their expectations.
2. Volume: The scale of operations must be expanded significantly, with B2B firms dealing with larger volumes of product sales and service delivery by leveraging data, transactions, and interactions than ever before.
3. Velocity: The speed at which business processes and decision-making occur has accelerated, driven by real-time data analytics and communication technologies to meet the Accounts expectations.
4. Variety: Embracing a diverse product portfolio and expanding market offerings have become imperative in catering to the multifaceted demands of the modern business landscape.
5. Veracity: The reliability and accuracy of business functioning with their Accounts & Leads have taken on paramount importance in a B2B world that demands transparency and accountability
6. Variability: Market conditions can change rapidly, necessitating adaptability and flexibility in B2B strategies and operations, ensuring for a B2B firm to swiftly respond to evolving circumstances and serve their markets.
7. Visibility: Enhanced visibility into supply chains, enables customers trust and eliciting purchase decisions.
8. Valour: Courage coupled with astute leadership of a B2B firm are essential traits in the face of uncertainty and market disruption, as B2B companies seek to innovate and seize new opportunities.

 

In summary, the B2B marketing landscape is characterized by its dynamic nature, driven by technology and data. Firms are continually refining their approaches to choosing, creating, delivering, communicating, and sustaining value while navigating the complexities of the 8V’s to stay competitive in an ever-evolving marketplace.