Have you ever noticed how some people act differently at work than they do at home? This is because some people have been able to adapt their personalities to meet changing demands so that they can be more effective. This is the concept that is seen in the difference between B2B and B2C marketing. B2B marketing focuses on business to business marketing concepts. B2C marketing, on the other hand, focuses on business to consumer marketing concepts.
The same product can be marketed more effectively by knowing the differences that exist between B2B and B2C concepts. Let’s take a more in-depth look at these differences today so that you can be more effective with your revenue generation efforts.
B2B Concepts Are Tightly Focused
In the world of businesses selling to other businesses, there is one thing that must be focused upon more than anything else: the relationship. The modern business can import the items they need to create their own goods or services from anywhere in the world. The only thing that can be controlled is the quality of the relationship that exists. By maximizing the value of a relationship, the B2B marketer can sell to focused, small demographics in a more effective way.
This means that brand identity is an important part of the process. A chain of evidence must be provided to another business to prove the promise perceived value that has come with the established relationship can become a real value when the goods are delivered. This means that the sales funnel for the B2B marketer is much larger and extends further.
Transparent lines of communication is the foundation of success. A B2B marketer who is not clearly communicating with those in their sales funnel will not be likely to find a lot of success. Multiple people within a business structure are often involved in a buying decision and this means that each person must be convinced that the perceived value and real value will match up.
To summarize the B2B philosophy.
- It is driven by relationships.
- More value comes from the relationship than the first purchase.
- Ultra-specific niches are the focus.
- Brand identity is critical.
- Sales funnels must be extended to include multiple employees.
- Decisions are based almost solely on rational values and future potential.
B2C Concepts Are Driven By Innovation
For the B2C marketer, the focus of a sale is all about solving problems. In order for a consumer to see real values, they must be able to save time, money, or both in some way to be tempted to make a purchase. This means that sales process is quite simple in the B2C marketing campaign and the sales funnel is rapid, but there is a lot of repetition involved because each consumer needs to be engaged in some way.
Relationships are important in the B2C world, but not on the personal level of the B2B world. Consumers need to feel like they can relate to a business, but a personal relationship with that business is not always necessary. That’s a good thing because the B2C marketer often has a huge target demographic for the goods or services that are being sold.
Above all else, the goal of the B2C marketer is to create an emotional connection. That connection doesn’t need to be with the brand or the business. It needs to be with the goods or services that are being sold. This emotional connection is usually attributed to a certain increase in status that is achieved by having the product or service. Desire or price can also be effective sales points in the B2C world.
Thanks to prevalence of the internet, having comprehensive information online for a customer to research on their own time about specific goods or services has also become an essential part of the B2C process. This is why many companies are investing up to 60% of their annual marketing budgets toward content creation. It provides people the information they need to so that the emotional connections can begin to form.
To summarize the B2C philosophy:
- Large target demographics are the focus and the value of each transaction must be maximized.
- The buying process is short, sometimes just a single step.
- Decisions are based more on emotions and desire rather than ongoing value and need.
- The point of emphasis is with the product being sold so that there is evidence on display that it can solve specific problems for consumers.
Do You Need B2B or B2C Marketing Today?
Every company should be doing a little of both. B2B and B2C marketing are specific concepts that can help sell the same product, but in two different ways. The focus of what benefits can be provided is the primary shift that occurs. Businesses want to see how much money they can save with a new product or how much extra money they can earn. Consumers have a similar concern, but it translates into time savings and other advantages.
If a consumer can clean a floor in 15 minutes instead of 25 minutes, this is a problem that can be solved with tangible benefits. That’s what the B2C marketer will point out. A business might have the same need to clean a floor in 15 minutes instead of 25 minutes. The B2B marketer will point out that this saves the company 200 man hours every year, cuts $90,000 in costs, and increases revenue potentials by 40%.
By knowing the B2B vs. B2C differences, your next marketing plan will ensure that you are focusing on the right types of activities that will give you the greatest chance of making a sale. Once you go beyond these key differences, it is also important to realize that certain marketing activities are the same. You need to identify your target markets and develop a clear message. From there, use these concepts with each target and you’ll have a greater chance to experience success.