You’ve probably heard marketers go on about B2B Vs B2C. But what do the two terms actually mean?
In essence, when we’re talking about Business-to-Business (B2B) and Business-to-Consumer (B2C), we’re talking about two very different audiences. Because of this, marketers must opt for different communication approaches to reach out to their desired audience.
In this post, we’ll talk about the differences between B2B and B2C. But before we dive into the details, let’s discuss what B2B and B2C marketing actually are.
What is B2B Marketing?
B2B (business-to-business) marketing is when companies market their products and services to other businesses as opposed to regular consumers.
This typically occurs when a company sells products that regular consumers wouldn’t be interested in. This could range from items like office supplies or raw materials such as steel. Now obviously, this would require a different kind of approach that selling ordinary consumer goods.
What is B2C Marketing?
On the other hand, business-to-consumer marketing targets consumers instead of businesses. It’s worth noting that consumers make smaller purchasing decisions and generally don’t take very long to make a purchase.
And while consumers do expect to gain something from the product, they are not too concerned about the financial risks of their investment as businesses are.
B2B Vs B2C: Key Differences
Here are some of the key differences between B2B vs B2C marketing:
Motives & Objectives
It’s important to understand that you’re dealing with two completely different audiences here. Your B2C audience is more entertainment driven and usually relies on emotional triggers while making a purchasing decision.
On the other, B2B audiences take more logical and rational purchasing decisions. B2B audiences also expect to be accommodated by the marketing and sales teams.
B2B marketing’s success greatly relies on educating other businesses. This ultimately means that you have position your product as a staple in the industry. The following are a few ways to do:
- Host educational webinars
- Send out email newsletters about industry trends
- Maintain an active social media presence
- Set up booths at industry tradeshows
- Network with prominent people in the industry by attending networking events
On the other hand, achieving business-to-consumer marketing success requires a completely different approach. Campaigns are expected to be devised according to consumer mindset. This achieved by offering consumer discounts or via direct marketing methods. The key secret here is to focus on customer service.
Here are some marketing approaches that you ought to consider:
- Shorter sales cycles are likely to be a success to encourage impulse buyers
- Customer service must be top notch
- Great focus on social media, to connect with customers. Brands must take notice of advertising avenues
How to Develop a Successful B2B Campaign?
By nature, a business-to-business campaign must be broad yet focused at the same time. For instance, it should be designed to cater to a specific target market. This is often done through email or by exuding a distinct corporate image.
Here’s how you can employ a successful B2B plan by keeping the following pointers in mind:
- Focus on the products and services – As mentioned earlier, consumers are more concerned about fulfilling emotional needs that are involved with their purchase. In this case, B2B consumers are trained professionals that are more concerned about the quality of their products. Similarly, their main purpose here is to avail revenue-increasing benefits.
- Pricing – Businesses are very particular about price-points as they are determined to generate maximum revenue. So as long as you’re able to market your products in the best possible way in terms of quality, they may be willing to pay a premium price.
- Involve Experts – Here, your audience can’t be fooled because they have a lot at stake. Involve experts that aren’t just great at marketing but possess industry knowledge. Once you have the right people involved, you can market this field in the best possible manner. Consider hosting tradeshows or using journals and books to enlighten people. You can promote products and services by building connections.
How to Develop a Successful B2C Campaign?
For starters, companies need to initiate the process of conducting thorough market research. Once you’ve identified the needs of the customer, you can start creating effective messages and devise campaigns accordingly.
Today, since most people spend their time online, a winning B2C campaign should involve the internet and of course, social media. Other tools that you can use include affiliate programs, company websites and QR codes.
Start by creating social media profiles of your brand to interact with potential consumers. Doing so will allow you to connect with your audience on a personal level.
Wrapping it Up: B2B Vs B2C
We hope this post has helped you understand the key differences between B2B Vs B2C.
Is there something you’d like to add? Tell us in the comments section below.
Image Credits: GoMage