Marketing professionals or someone who has worked in digital marketing, will most likely have come across both B2B and B2C marketing, but what are the main differences. B2B (business to business marketing) focuses on process-driven purchasing decisions, whilst B2C (business to consumer) focuses more on the relationship between businesses and consumers.
By marketers understanding the differences between B2B and B2C, this allows them to plan a highly effective strategy for their business. B2C will focus on the communication strategy, whilst B2B focuses on lead generation.
We’ll look at a few of the differences between B2B and B2C.
B2B marketing focuses mainly on lead generation and building personal relationships that will drive in business in the log run. Businesses’ ability to build a strong relationship and connect with customers, enables them to separate from competitors and build their brand. One of the most important elements of relationship building is the buying circle. Leads remains the top priority for B2B businesses; referrals can make or break a business.
Referrals and customer reviews are integral to a business’s reputation. Bad reviews on Google or a company website can be very damaging to bringing in new and retaining customers. 94% of customers read online reviews. Whether good or bad, they will influence purchasing decisions.
As the goal of B2B marketing is to drive lead generation, the goal of B2C marketing is to bring consumers to products on the business website to drive sales. Websites with near-perfect customer experiences, have more chance in being successful. Products on a B2C website are likely to be of high quality with the aim of delivering high-quality products at the quickest rate possible, so there is minimal need of getting to know the customer.
One of the more popular methods taken up by B2C businesses is of offering deals for review participation. A good example would be Amazon. When a customer purchases a product on Amazon, they will usually receive an email a few days later asking them to review their purchase. Sometimes there may even be a possible deal if the consumer chooses to send their feedback.
By providing extra value to customers, future user experience can be increased and even cultivate an ambassador to a brand.
Being able to adjust the brand towards the target audience is the key to starting and maintaining a relationship. Branding more often than not, comes from relationship building. B2B brands must ensure the presentation of the products and services remains consistent. For a business to be able to identify where they position themselves in the market, whilst showcasing their personality, can help drive brand recognition and lead generation.
The main priority around branding for a B2C brand is to make their message clear. This allows the marketer to deliver a message, emotionally connect and create a loyalty in order for the consumer to buy the product. As the contact between the brand and consumer is minimal, it’s important that there is a good customer experience to leave them coming back after their first visit. Unique messages with eye-catching copy, that makes the consumer stop and think, will be important to the brands’ success.
In order to successfully attract the right customers, it’s important that B2B businesses understand their target audience demographics; data collation has an important part to play. Compiling and analysing accurate data using Google Analytics and keyword research, will be of great benefit.
By conducting keywords research and Google Analytics demographic data analysis, businesses are able to infer what kinds of searches certain people are performing. With this information, they will then have a general idea of who their target audience is. With this data, integrated advertisements, targeted to specific keywords and demographics, can successfully build a lead generation strategy.
Compared to B2B markets, B2C marketers work in larger-scale markets, and therefore, the target audience is much more spread out. This is where the marketing funnel comes in. Marketers will follow the process of the marketing funnel when acquiring new customers. Advertisements that drive emotional and product-driven purchases, increase the chances of gaining some top-of-funnel leads. Once the demographics of those leads have been identified, businesses can create a list and remarket to those consumers in the hope of generating future sales.
By marketers having an understanding of the main differences between B2B and B2C marketing strategies, it will enable them to increase lead generation and know how to target their audiences