Depending on the nature of the business, companies typically can be divided into two categories: those who sell to other businesses (B2B) and those who sell to individual consumers (B2C). These are two completely opposite business models that serve varying purposes and achieve different goals.
Statistically speaking, there are 1.6 B2B companies for every single B2C company. This makes the former a relatively bigger industry that enables digital marketers to think beyond the everyday customer when developing a viable marketing strategy.
Here are the main differences between the B2B and B2C marketing:
#1 B2B focuses on building relationships, B2C focuses on conveying the right message
Although appealing to other businesses with an enticing message is important in B2B marketing, it’s even more important to present the product or service in a way that helps build long-term relationships. For B2B businesses, portraying your position in the market via solid branding is the basis for attracting the right business clients. Besides, it drives lead generation and brand recognition.
In contrast, creating and spreading the right message at the right time is the main priority for B2C marketing. Since the relationship between the company and the customer isn’t as interactive as it is with B2B, drawing the attention of the everyday consumer via the memorable delivery of the marketing message gives a guarantee that the customer will be back. The focus in B2C marketing is made on finding a way to resonate with the customer on a deeper level.
#2 B2B aims to retain customers, B2C pushes for one-time sales
Since even the tiniest business losses affect B2B’s bottom line, it’s crucial for B2B businesses to build a bulletproof customer retention strategy. From personalizing the marketing message to sending customer surveys and surprising them with gifts and discounts, there are plenty of ways to turn a first-time customer into a loyal client. It’s also a sure way to avoid bad reviews altogether and ensure that the word of mouth is working in your favor.
With B2C, marketers push for bigger-scale sales that don’t require costly and time-consuming customer relationship building beforehand. It’s a win-win — the marketing campaigns are bold and engaging so that the customer is able to make a quick purchase. There’s no fuss with getting to know the customer either which saves the B2C company time and money.
#3 B2B operates in a niche market, B2C works in a large-scale market
B2B businesses tend to specialize in a narrower target audience with specific problems. To do this successfully, companies with this business model need to understand their demographic well enough to offer the best solution possible. Compiling and analyzing both quantitative and qualitative data proves to be an effective method of attracting such a niche audience. Some of the most commonly used tools for data collection are Google Analytics, questionnaires, and interviews.
Unlike B2B-minded brands, B2C businesses have a scope of catering to a much broader audience with various interests. They prioritize developing marketing funnels that help create an emotional connection with a bigger number of prospects. After thoroughly analyzing the emotion-evoking top of the funnel that draws the leads in, B2C marketers typically come up with a remarketing strategy targeting those leads in hopes of generating sales.
#4 B2B prioritizes transparent communication, B2C makes an emphasis on ROI maximization
For a B2B business to establish whether or not it’s a good fit for both the customer and the company, there’s usually open communication between them. This makes the decision-making process more transparent and beneficial. B2B companies involve their customers in the evaluation to get an outsider perspective on what’s abundant and what’s lacking. With a bit of help from their customers, tweaking and twisting their marketing message becomes an easy task.
There’s a lot more flexibility with B2C businesses that don’t tend to put too much emphasis on building customer relationships from the ground up. Once digital marketers gain a clear understanding of what the customer is looking for, they’re able to create an influential marketing campaign that attracts the customers with those exact needs. When helping the customer make a purchasing decision, B2C companies manage to maximize ROI without any challenges.
#5 B2B makes the ad copy sound professional, B2C makes the ad copy sound emotional
B2B businesses are all about learning the lingo and using the right words that showcase the level of expertise. You have to speak your audience’s language if you want to attract the type of customer who will stick around for a while. There’s no fluff and no rambling — the ad copy gets straight to the point. It focuses on eliminating the possibility of emotions fogging the customer’s brain and instilling confidence in the prospect instead.
To attract a customer in an instant and make him want to make the purchase without giving it a second thought, B2C marketers draft an advertisement that resonates with customers on an emotional level. By not using sophisticated language that can cause the lead to lose interest in the marketing message, B2C businesses manage to hook the customer in with a compelling and visually-appealing copy. It helps if the ad is short and sweet.
Ramp up lead generation no matter if you’re using B2B or B2C marketing
Keep the differences discussed in this article in mind when developing your next marketing strategy. You might need to start putting more effort into personalising the ad copy or focusing on building long-term relationships with your clients. Whatever change you need to make, make sure it’s beneficial for both parties. This way, improving your lead generation and acquiring more loyal customers won’t be difficult to accomplish.
Interesting Related Article: “What is B2B or business-to-business? Definition and examples“