Differences Between B2B vs B2C Marketing
B2B and B2C marketing stand for business to business and business to consumer marketing respectively. There are people who think that whether you are marketing your product directly to consumers (B2C), or to companies (B2B), it is one and the same thing, which is a wrong approach. The motivating factors behind the two types of buyers are different and also there is a difference in the information that they seek when making a decision to buying products. These and many other differences in the two types of marketing will be highlighted in this article to help small business owners when making marketing decisions.
The biggest motivating factor in making a purchase by an end consumer is emotion whereas in the case of a business it is cool logic. This is one factor that decides the kind of marketing you should indulge into when marketing a product or a service to a company or when marketing it to end consumers. The terms B2B and B2C were coined with the practice of marketing on the net to sell products directly to end consumers (B2C). The first step of marketing is essentially the same whether you are marketing to end consumers or to other businesses. It is to find out who the customer is and what it is that he needs to hear from you. It is from there on that different marketing approaches are adopted for successful selling.
Features of B2C
• Driven by product
• Huge customer opportunities
• Fast buying process
• Emotion based decision to buy
• Need to create a desire for consumers to buy
The ultimate objective of B2C marketing is to convert as many as possible prospective customers either by luring (coupons, discounts, offer), or by creating a need or desire for the product in their minds. Email campaigns are a part of this type of marketing where the customer is lured on to a landing page where he has to make a few clicks to complete the transaction. Great customer service is a must to have loyal customers.
Features of B2B
• Relationship driven
• Small, targeted customer base
• Longer sales cycle and longer buying process
• Rational buying decision
Although the goal here is same as in B2C, it is clear that audience here is a business rather than a single person and this company can buy in large numbers than a single end consumer. Rewards are more but the process is lengthy as the buyer makes the decision of buying on a rational basis rather than on an emotional impulse. The buyer here has to see that the deal is profitable that helps his company to make profits on the transaction.
B2B vs B2C Marketing
Customer service is critical in both B2B and B2C though its effects are more pronounced in the case of B2C. Creating a brand image is perhaps more important in B2B, while creating a desire in the minds of end consumers is more important in B2C. It is important to understand the needs of the target audience in both B2B and B2C.