Market penetration strategies to make your B2B business grow

Although giving you an example of market penetration is always much more graphic and allows you to visualize certain points regarding your B2B business, in today’s post we want to be a little more theoretical

Well to be exact, let’s be theoretical so you can be practical.  

As you well know, starting a project, launching it and bringing to market the product that will take you to glory is just the beginning. 

You can’t afford to stagnate, especially now that everything is evolving at lightning speed, no matter what industry you’re in. 

In order to grow, you need to consider how to expand and, therefore, you have no choice but to increase your market penetration. 

Take note of these 5 market penetration strategies to grow your B2B business.

Let’s get to it!

Simple definition of “market penetration”.

The term market penetration refers to a B2B company’s strategy to expand.

In other words, the aim is to increase the sales of that particular business within the sector in which it operates.

The main objective is to reach a larger number of consumers, within the already defined audience. These are consumers who are within your audience, but who have not yet become real customers. 

The best thing about this strategy is that, if you plan it well, you will be able to get your competitors’ customers on your side. 

Thanks to the market penetration method that best defines your business, you will earn more revenue and be more competitive.

The fundamental difference between “market entry” and “market penetration”.

We have decided to create a small section on the difference between the two terms, because it can they can quite often be confused with one another. 

And that’s just what we don’t want to happen to you.

The basic difference between the concept of “market entry” and that of “market penetration” is very simple:

• The first, refers to your initial arrival in a particular market.
• The second refers to the growth and expansion of a business in order to reach more people who are already part of your audience segmentation.

It’s very simple 

One term focuses on your arrival in a particular market, the other refers to your expansion in that same market.

5 market penetration strategies for your B2B business

Without further ado, let’s get to the central theme of the post in front of you.

1.- Product resignification.

Let’s see, we are visualizing you and we don’t have you in front of us.

Product resignification is a technique that will lead you to give a new use to a product you already have in the market. 

To help you understand, here is an example.

Gunpowder was invented to make fireworks, but was put to different uses over time in the area of construction, building demolition, weapons creation, etc. 

The idea is that you find, within your product range, a new utility that allows you to re-impact your audience, reach more people and steal customers from your competitors. 

2.- Penetration pricing strategy analysis and rethinking in favor of your B2B 

Here’s another example

Imagine that your only way to enter your market (we say enter and not penetrate), is to set very low prices to compete with your competition.

Well, once in the market and at the time of developing your expansion, you must analyze your pricing strategy and assess whether to keep them as they are or raise them. 

What can bring you back to raise prices in such a case? 

Imagine entering at a rock-bottom price, but your audience has a very high purchasing power. You may be able to raise prices so that these potential customers perceive the value of your product as they should, because these types of people are not interested in bargains and cheap deals.

3.- Investment in content marketing

In this case, we advise you to invest as much as you can in generating valuable content. We say this from experience, because you will be able to reach more people within the audience you have already defined.

It is about solving concerns, doubts, or problems in your potential customers by offering them useful content that allows them to:

• Identify you as an authority in the sector in which you move and be their reference to solve those problems that drive them crazy. 
• Walk through your website and discover everything you can offer them that they don’t know about.
• Better understand what you are selling and how it can help them.  

To do so, you will have to work your sales funnel properly.

4.- Actual sale of products through various channels 

Nowadays, customers need to be served through several different channels and that is where you must have a presence in order not to miss the arrival of customers through any of them. 

Don’t hesitate to include inside sales, look for channel sales partners, work digital channels, create franchises, or manage strategic alliances with other B2B companies. 

You will have to sit down and seriously assess which channels are preferred by your audience and which of them can allow you to penetrate the market.

5.- Encouraging interaction with consumers

The consumer-business relationship has always been fundamental, but today it is even more so with the advent of social networks.

And we talk specifically about social networks because they are the perfect channel to encourage interaction with the audience.

The rationale for this market penetration strategy is as follows: 

• Having a presence in social networks helps you to be close to your potential customers. 
• Listening to them can lead you, for example, to re-signify your products or even create new products.
• Knowing them in depth will allow you to meet their needs and solve their problems completely. 

Show them that you understand them, and they will start a never-ending dialogue with you that will be gold for your business.

Talk to them. 

Research, consider and evaluate which of these market penetration strategies can benefit your B2B and go ahead and grow!

We are waiting for you in the comments, as always, to solve your doubts or attend to what you need because we preach by example, and we also want to interact with you ;)

Habla con ellos. 

Investiga, plantea y valora cuál de estas estrategias de penetración de mercado pueden favorecer a tu B2B y ¡adelante y a crecer! 

Te esperamos en los comentarios, como siempre, para resolver tus dudas o atender lo que necesites porque nosotros predicamos con el ejemplo y también queremos interactuar contigo. ;) 

¡Te leemos!