B2B marketing stands for business to business marketing whereas B2C stands for business to consumer marketing. The key difference between B2B and B2C Marketing is that, in B2C marketing, you market your product or service directly to consumers whereas, in B2B marketing, you market your product or service to companies.
The terms B2B and B2C were coined with the practice of online marketing. 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 you have to use different marketing approaches for successful selling. Although many people assume that there is no difference between B2B and B2C marketing, this is a wrong assumption. The motivating factors behind the two types of buyers as well as the information they seek when deciding to buy products or services are vastly different. These factors thus affect the approach to marketing.
CONTENTS
1. Overview and Key Difference
2. What is B2C Marketing
3. What is B2B Marketing
4. Side by Side Comparison – B2B vs B2C Marketing in Tabular Form
5. Summary
What is B2C Marketing?
B2C marketing stands for business to consumer marketing. Here, you can directly market your product to the consumers. 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; here, the customer is lured on to a landing page where he has to make a few clicks to complete the transaction. Moreover, great customer service is a must to have loyal customers.
Features of B2C Marketing
- Driven by product
- Huge customer opportunities
- Fast buying process
- Emotion-based decision to buy
- Need to create a desire for consumers to buy
What is B2B Marketing?
B2B marketing is marketing where you market your products to other companies. Although the goal here is the same as in B2C, it is clear that the audience here is a business, rather than a single person. Thus, this company can buy in large numbers than a single end consumer. In this marketing, 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 whether the deal is profitable and whether it helps his company to make profits on the transaction.
Features of B2B Marketing
- Relationship-driven
- Small, targeted customer base
- Longer sales cycle and longer buying process
- Rational buying decision
What are the Differences Between B2B and B2C Marketing?
B2B marketing stands for business to business marketing whereas B2C stands for business to consumer marketing. As their names imply, in B2C marketing, businesses market their products or services directly to consumers whereas, in B2B marketing, businesses market their products or services to other businesses. Therefore, this is the key difference between B2B and B2C marketing. Moreover, the motivating factor is another difference between B2B and B2C marketing. The biggest motivating factor in making a purchase decision by an end consumer is emotion whereas in the case of a business it is cool logic.
Besides, the customer base too makes a difference between B2B and B2C marketing. B2B marketing has a small, targeted customer base whereas B2C has huge customer opportunities. Furthermore, B2B marketing has a longer sales cycle and longer buying process whereas B2C marketing has a faster buying process. In addition, a further difference between B2B and B2C marketing is that the B2B marketing is relationship driven whereas B2C marketing is product driven. Thus, these are the major differences between B2B and B2C marketing.
Below is an infographic on the difference between B2B and B2C marketing.
Summary – B2B vs B2C Marketing
Customer service is critical in both B2B and B2C though its effects are more pronounced in 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. Therefore, this is one major difference between B2B and B2C marketing. However, it is important to understand the needs of the target audience in both B2B and B2C.
Image Courtesy:
1. “1440159” (CC0) via Pxhere