When we enter the field of marketing, we get to know a lot about different marketing strategies based on different segments of marketing. And it is not an easy task to pinpoint the best marketing strategy for the sake of your business growth. Once we do it, I can assure you, it’s worth achieving. How to find out the best marketing strategy for your brand depends on the knowledge you’ve gotten so far and how’s your implementation. If you want to know everything about what marketing is and the different types of marketing strategies, then you can check the blog on marketing written by Team DigiAvtar, click here to read.
Today we’ll be knowing about the b2b and b2c marketing, and measure the difference between b2b and b2c along with their relative real-life examples. So stay tuned!
What is b2b Marketing?
B2B = Business to Business
B2B is an acronym for Business to Business. It is a marketing strategy that works in niche markets. It is the process where one business solves specific problems for other businesses with the help of products and services. Under this marketing, strategy businesses focus on serving other businesses rather than individual customers. As we’re selling products and services to other businesses so, in b2b marketing, we’ve to focus on the challenges, interests, and needs of the businesses.
This is a marketing strategy that focuses on logical process-driven purchasing decisions, which means the transactions do not take place on impulse. Businesses strive to maintain open communication in the decision-making process, so the whole process of the sales funnel is longer than it is in b2c marketing. If you want to know more in deep about b2b marketing, then click here.
Examples of b2b Marketing
- Salesforce: Salesforce is a customer relationship management solution to bring companies and customers together in a single platform.
- PabblyConnect: Pabblyconnect enhances the functionality by connecting different types of applications in a single platform
- Mailchimp: It is an email marketing and automation tool. It’s easy to run and understand
- Indiamart: It is an eCommerce b2b company located in India.
- Slack: It is a project management tool. It helps in organizing teams, and projects.
Let’s move further and get to know about b2c marketing!
What is b2c marketing?
B2C = Business to Customer
B2C is an acronym that stands for Business to Customer. It is a marketing strategy that is completely focused on selling the products and customers to individual customers. It is a process where customers purchase the products most commonly for their daily lives and personal needs. As in B2C, we are selling the products and services for individuals, so we’ve to focus on the challenges, interests, and needs of the businesses.
It is a marketing strategy that focuses on emotion-driven purchasing decisions, which means the transactions take place on impulse. In b2c, businesses strive to maintain the whole sales process as quick and easy as possible, so the whole process of sales is shorter than it is in b2b marketing.
Examples of b2c Marketing
- Amazon: It is an online eCommerce platform.
- Airbnb: This platform provides rental stays all over the world at a low cost.
- Nike: It is a brand in the shoe industry providing different types of branded shoes to the customers
- Spotify: It is a digital music service. You can listen to millions of songs on their platform.
- Uber: If you want to book a ride then Uber is your friend. You can book a ride anywhere, anytime you want from this platform
I hope you’ve cleared it in your head what is b2b marketing, what is b2c, and examples of b2b and b2c business marketing strategies. Now, let’s differentiate between b2b and b2c marketing!
11 Key Difference between b2b and b2c marketing strategies
Well, we know now that b2b and b2b focus on different types of target audiences, so they have many differences. But as their ultimate goal is sales, so they also have a lot in common.
Once you’ll have a deeper understanding of what these are then it can help you in building marketing campaigns resonating with your target audience.
So, without wasting time, let’s discuss the key differences between b2b and b2c marketing strategies:
Target Audience
The target audience is different for both of them. In b2b marketing, the target audience is companies, teams, or groups of people, or it can be an individual whose whole career depends on what one is doing (like any solopreneurs). In B2b Marketing, companies focus on finding a niche for targeting the audience. So, it’s also called niche marketing. Most of the B2b companies are in Niche Markets, which means their products and services are specifically directed to a particular type of business. If you want to be successful in Niche Marketing, then you should be able to showcase how your products and services will make their business better.
While on the other hand, the target audience in B2C marketing is most of individuals and households. B2c marketing focuses on funnel most rather than niche marketing.
Marketing Approach
B2b marketing focuses on building relationships, so it’s a relationship-driven approach. Relationships take time to build, and we need to nurture them by putting in a lot of effort.
While on the other hand, B2c marketing focuses on products. In this marketing strategy, the relationships are short-term.
Customer Relationships
B2b businesses focus on building personal relationships. Personal relationships are the result of consistent effort, to stand by what you say. So, to build personal relationships we need to showcase the customers’ reviews, and how can our product help them in enhancing their business and solving problems. Always tell the benefits of the products and services rather than talking about features. Incorporate storytelling in your marketing material to make it more meaningful and easily understandable to the human mind.
B2c Marketing focuses more on transactions rather than on building personal relationships. Follow any marketing funnel (E.g. CATT Marketing Funnel) that suits you, and build a successful b2c marketing campaign implementing each step of the particular funnel in sequence.
Decision Making & Makers
As we know already that b2b is relationship-driven marketing, b2b businesses need to maintain open communication in the decision-making process for strong relationships. In this decision-makers are a group of 5-12 people or individuals representing their whole business.
As for b2c marketing, it’s focused on products, and more like a funnel so, b2c business focuses more on making the process as simple and quick as possible. In b2c, decision-makers are 1-2 people purchasing the products for themselves.
Quantity of Merchandise and Relationship Horizon
As in b2b the product is built for companies so the quantity of merchandise is large, and to sell this we need to build relationships and that takes time. Hence, the relationship horizon is also long-term.
While in b2c the product is built for individuals so the quantity of merchandise is small, and to sell this we need to work on our sales funnel like CATT Marketing Funnel. And if we’re following the steps we can easily sell the products. Hence the relationship horizon is also short-term.
Amount of Purchase
In b2b, the amount of purchase is higher. As in this marketing strategy, the products are built to solve the specific problem of another business and to make the business better. Hence, the size of purchase also becomes higher in amounts rather than it is in b2c.
As we all know that in b2c, the product is built for individuals or households. So, the purchase size should not be so much higher, businesses need to keep it low cost so that everyone can buy it real quick without thinking twice.
Buying Cycles
Buying cycle in b2b is greater than it is in b2c. As b2b is a marketing approach completely driven by relationships and relationships take time to build. So, the buying cycle in b2b can be months to years.
In b2c marketing, everything leans towards the funnel and products. All focus is on selling the products. So, the buying cycle in b2c can be days to weeks.
Buying Decisions (Decision Rationale)
In b2b marketing buying decisions are based on needs and skewed towards rationale. These are planned and logical. As, people purchase for the betterment of the brand, and on the behalf of businesses. So, people first watch carefully and understand which product would be the best fit for their business needs. They observe everything and compare it with other products. So, the whole process is so much longer.
On the other hand in b2c marketing buying decisions are based on the emotions, and desires of the people, and skewed towards emotion. As individuals purchase the product in b2c for the betterment of daily life. And everybody wants comfort as soon as possible in their life. So, they are quick. People purchase the products on impulse here.
Branding and Creation of Brand Value
Branding is the process by which we create the value of the brand in the market to make it recognizable, easily accessible, and authoritative in its domain.
In b2b marketing, it is focused on positioning the brand. In this, brand value is created by trust and mutual relationships. DigiAvtar is also working in the same domain, as our slogan is “Digitalising Brands for Exponential Growth”.
On the other hand, brand value in b2c is created by advertising and promotions. As the decisions are quick in b2c and based on emotions, so advertising and promotions can be used to sell the products directly.
Ad Copy
In b2b marketing ad copy, you should include the word that your clients are most familiar with. Don’t make it transactional and emotional. Be authentic, and talk about the benefits, along with the proof of how well you’ve served your clients, and how it helped them in the growth of their business. Don’t show urgency in your b2b ad copy, as decisions are taken after brainstorming and following your brand for a very long time.
In b2c marketing, you can play more with your ad copy. You can use fluff and emotional copywriting in the b2c marketing ad copy. As the decisions are so fast and quick in this, so you can show urgency and make it transactional. You can directly show your products with the ad copy in b2c marketing. Urgency and Emotional Copywriting will help you in quick sales, as people will buy on impulse. But, keep the ad copy industry jargon-free, and attention-grabbing. The reason behind keeping the ad copy jargon-free is, that most people are familiar with industrial jargon.
ROI (Return on Investment)
B2b customers look for the products by which they can get a return on investment. B2b businesses have to find a way by which their products can play a vital role in increasing the ROI of the businesses that will use the product. Because businesses will only invest in your products and services if they can generate the money from your product.
On the other hand, b2c customers seek entertainment, enjoyment, comfort, and deals. So, they can buy anything that can solve their current problem. ROI from the product isn’t the concern of b2b clients.
We’ve discussed 11 key differences between b2b and b2c marketing strategies. Now, you must be thinking about which strategy you should go with. Well, let’s discuss then you can decide on your own, how you want to target your audience.
What strategy is the best fit for your business?
It’s not that hard to decide which strategy would be the best fit for you. As in b2b and b2c, everything depends on the target audience.
Decide who you want to target! If you want to target individuals then b2c will be the best fit, and if you want to target businesses then b2b will be the best fit for you.
But if you want to target both individuals and brands then you can work on the combination of b2b and b2c marketing in separate campaigns.
We all know that b2b and b2c also intersect with each other on several points, the reason is in the end people take a decision in both cases whether to buy a product or not.
We can go with both, but we should always keep the budget in mind. B2c marketing casts across so many channels, platforms and ad types. If you want to target the masses on different platforms then go with a b2c marketing strategy.
On the other hand, b2b marketing doesn’t consider many platforms. We should work on the chosen platform only if we’re applying it to this business marketing strategy, as it is niche-based marketing. Have a smaller budget or a niche product, then b2b wins the race! In b2b it takes more planning than it takes in b2c but it’s worth it.
I hope you have a clear idea of which marketing strategy you want to go in growing your business. Now, let’s conclude the blog, by repeating some important facts about b2b and b2c marketing.
Conclusions
First, make yourself clear about what is b2b and b2c marketing. Once you’re clear about it, it’s time to identify your target audience. If you’ve done then you can implement the strategy that best suits your business goals. You can work on both strategies simultaneously by running separate campaigns for businesses and individuals. When we work together on these two business models, we cover the complete business process.
In b2b marketing, businesses focus on long-lasting personal relationships with other businesses, focusing on brand values, and open communication to understand client businesses’ challenges and requirements. If you want to add value to another business then it is the best fit for you. B2b businesses focus more on personalization and provide customized solutions to their client by understanding the business attentively. These focus on higher ticket pricing clients, so there’s always a marketing team completely dedicated to understanding the needs of the business of the client. Customer experience is a big part of a b2b marketing strategy.
While in b2c marketing, businesses focus on creating simple, impulsive, transactional, visual content across the channels. These businesses are available on trending social platforms. Customer experience also matters in b2c marketing too, but it is less required than b2b. You need not make the customer experience personalized for every client in b2c. I hope you’ve understood all the aspects of b2b and b2c marketing and are able to choose the best strategy for the growth of your own brand.
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