Marketing can be a minefield. You've got to know your consumer, your competition, and any up-and-comers who might be out there lurking to take away from your market share.
What's especially important to know is B2B and B2C marketing and how to take advantage of each.
Each type of marketing - B2B and B2C - have different strategies that work for it and you've got to know when you can converge those strategies and when you can't.
But what actually is the difference between B2B marketing and B2C marketing? And how can you leverage them?
Read on to find out!
What is B2B Marketing?
B2B marketing just means business to business marketing. It's when a company is trying to sell your business a huge piece of machinery it needs or when an airline, like Virgin Atlantic, is trying to become your business' preferred travel provider. Anything like that is B2B marketing.
The focus of B2B marketing tends to be on the logic of the product and its features because many argue that there's not much emotion involved in a B2B purchasing decision. It's all about cost and the product offering.
With B2B marketing you want to focus on how your product saves time and money, increases productivity, or provides resources that no one else can provide.
This can often be done with the help of a B2B lead generation agency - which will help you to connect your business and the goods you sell with another business who needs your services. To learn more about lead generation agencies read more now.
What is B2C Marketing?
B2C marketing, on the other hand, is business to consumer marketing. It is, for example, when McDonald's tries to sell Happy Meals to moms or when Nike tries to convince athletes that their shoes are the best.
There is a lot more emotion that goes into a consumer's decision to purchase a product so B2C marketing needs to be much more focused on content, building a brand relationship, and selling the benefits of their product.
Consumers are less interested in a lengthy marketing message and want you to get straight to the point with something snappy and attention-grabbing. That's why advertising is such a huge and important part of B2C marketing. Consumers want you to make it clear to them what they're getting - they don't want to have to work to understand your message.
Major Differences between B2B and B2C Marketing
The major differences in B2B vs B2C marketing have to do with how you connect with your buyers. You have to make sure that you're selling the right way to hook your intended target and make your sale.
Here are just a few ways that B2B and B2C marketing differ from each other.
1. Industry Jargon vs. Human Speak
It's simple. When you're selling B2B you can use industry jargon - and, in fact, it'll probably make your buyer more comfortable if you do because they'll feel confident that you know the lay of the business land.
But with B2C marketing you need to use simpler language, fewer buzzwords, and stick more to consumer-friendly language.
2. Driving Force Behind the Decision
Your B2B and B2C audiences are making their decisions very, very differently. Your B2B buyer is going to be focused on efficiency and expertise. Your B2C buyer is going to be focused on emotion - they want something that's a good deal and has lots of entertainment value.
So for B2B marketing focus on logic and rationale. For B2C marketing focus on emotion.
3. Who You're Trying to Satisfy
If you're trying to sell B2B then you're trying to satisfy a client. They want to look like the superhero of their company and they want to be educated and provided with expertise.
If you're trying to sell B2C then you're trying to please a customer. Customers want to enjoy their purchase, have it fulfill the need the purchased it for, and be happy all the while. They're less concerned about education and expertise.
4. Content Marketing
Content marketing varies widely between B2B and B2C marketing schemes.
For B2B marketing you want content that is highly detailed and full of industry jargon and expertise. For B2C marketing your content and social media just need to be humorous and engaging, to keep your brand top of mind amongst consumers.
5. Length of Content
Lengthy content is good for B2B relationships. It helps to assure them you know your stuff and that you're really an expert in what you're trying to sell them.
But with B2C marketing, consumers want you to get to the point. They're inundated every day with all sorts of B2C marketing content and if you want yours to stand out then it needs to be short, sweet, and to the point.
6. Building Brand Relationships
The relationships that businesses and consumers build with brands are very different.
When a consumer makes a purchase they're not necessarily looking to build a relationship with your brand. That's not to say that it doesn't happen - simply that it's not a driving force in the purchasing decision.
Whereas with B2B marketing, the business you're selling to wants to build a relationship that will last. They don't want to have to keep shopping around. They want to find someone who will meet their needs - and keep on meeting them.
7. Who's Involved in the Purchasing Decision
There are a lot more people involved in a B2B purchasing decision than are involved in a B2C purchasing decision.
When it comes to B2B marketing and purchasing decisions there is often a chain of command and a whole lot of people who have to weigh in. When it comes to a B2C marketing and purchasing decision, it's often just the consumer who is weighing in.
Final Thoughts
Now that you know the difference between B2B and B2C marketing it's time to get out there and get your marketing on. But, before you do, make sure you check out the rest of our posts on our business page. It's full of great advice and will help you become a business expert in a variety of fields!