When developing new business as a young entrepreneur, you need to learn how to make the difference between B2B vs B2C marketing. It is obvious that business-to-business (B2B) and business-to-customer (B2C) marketing are different from each other. When creating your marketing activities, you need to consider these differences. B2B is related to the relationship developing marketing efforts. If you use strategies that focus on your consumers to market your B2B, you need to know that you will invest a lot of money.
What is B2B vs B2C marketing?
B2C refers to any business which mainly sells to customers, while B2B stands for that business which sells only to other business. Both marketing strategies can work online and offline. These marketing programs may be just the same for all types of business, including direct marketing, public relations, etc. but they may differ regarding the outcome of their marketing activities and how they are executed.
The main step to develop both these marketing strategies is to spot who the customer is, establishing why they will want to hear your message. What it will come, it will be different for these two marketing strategies.
This marketing strategy is product driven, having an extended target market while maximizing the value of the transaction. This has a shorter sales cycle, being a single-step buying process. The main goal of B2C marketing is to transform shoppers into buyers. Usually, B2C companies tend to employ a lot of merchandising activities such as storefronts, displays, coupons and another offer to determine the target market to buy.
Their campaigns rely on the transaction, which needs to catch the customer’s attention quickly and be shorter in duration. Usually, such campaigns offer discounts, vouchers or special deals, using them in both stores and online. An interesting aspect is that many companies reached to realize that loyalty is crucial in B2C marketing. If you add great customer service to that, you will be successful.
This marketing strategy relies on relationships, being small and focusing on the target market. However, it has a longer sales cycles compared to B2C, and it also implies a multi-step buying process. These businesses develop their brand relying on a personal relationship. They provide activities for an educational purpose.
Here, the process of transforming prospects into customers may be a longer process. This type of companies usually focuses on communication, utilizing marketing activities which produce leads. During the sales cycle, you need to nurture these leads. They use marketing to educate different players in the target audience because the process of purchasing is a multi-step one. Furthermore, it may also involve more than one person.
For B2B, content is very important, while coverage of your services and products by the media and, newsletters and white papers will help your company educate their prospects.
The difference between B2B vs B2C marketing will help you understand what type of marketing strategy your company could use. Irrespective of the marketing strategy, you need to remember that your customers are important and you always try to satisfy their needs, convincing them to purchase from you.
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