September 28, 2022, Comment off
5 Key Differences between B2B Marketing and B2C Marketing
Say you own a large apple orchard. You have to decide between two possible business models:
- Selling your products to a local farmer’s market
- Another option is that you partner with large outlets like Walmart.
Selling at Walmart is the marketing equivalent of B2B marketing. It will require a consistent supply at a specific time, location, and fixed costs. It will also have multiple stakeholders involved at every step of the decision-making process.
B2B marketing is more challenging than B2C marketing for multiple reasons. This article is about addressing the differences between both and getting a clear picture of what each stand for.
How is B2B marketing different from B2C marketing
What does the difference between both marketing terms look like in practice? Check out the items below to learn the distinction between B2C and B2B marketing and how you can steer your own marketing strategy in the correct direction.
1. The matter of return on investment (ROI)
B2B buyers look for efficiency and expertise, whereas B2C buyers most likely seek deals and entertainment. The B2B purchase process is driven by more logic and financial initiative. ROI is a crucial factor in this decision-making process. B2B stakeholders will always think on the lines of:
“What profit will the business make as a result of buying this product?”
They will only buy something if they see long-term value for money. Therefore, marketers need to cater their offerings accordingly.
2. B2C marketing is not necessarily about building close relationships
B2B buyers want the ability to build a close relationship with brands. That’s not the case for B2C customers. B2C buyers can be loyal to your business as customers, of course. But their investment is likely not as deep as the investment you put in them.
It is why you must put a lot of thought into how much content you deliver as a part of your B2C strategies.
3. B2B customers wants brands to educate them
B2B customers often want to look like workplace heroes, especially when they’re part of the decision-making process. But, to make good decisions, they will need to have the right knowledge and awareness.
Marketers must ensure that educational content is a part of their B2B marketing strategies. You can help your audience think critically and empower them to be fully confident in their purchase decision. B2C customers, on the other hand, just need their problems gone. You won’t need to put out too much educational content for them to make a purchase decision. Simple social media ads and engaging copies would work for B2C marketing.
4. Industry jargons in B2B marketing and B2C marketing
Brand voice: the simpler they are, the better.
B2C buyers need brands that are relevant and relatable. It means your B2C pitch should contain fewer buzzwords and have a less formal tone. The industry lingo and jargon might demonstrate your expertise in front of B2B customers. But in B2C marketing, it is a major turnoff.
5. The purchase drive
B2C purchases can be quick and emotionally driven, whereas B2B purchase cycles are long and driven through logic and reason. B2B customers have to think in terms of business impact — they cannot let emotion influence their actions. Therefore, emotionally persuasive B2B marketing strategies may not work here.
B2C customers depend more on their gut while deciding to buy. They do not answer to someone else or do not have to justify their purchase in terms of long-term business goals. You also need a fun factor for your B2C marketing strategies. B2C customers are highly invested in their own lives and themselves.
An average B2C customer is far more interested in interacting with brands that position themselves as fun brand. B2B customers are driven through more educational content, whereas entertainment drives B2C customers.
How to differentiate B2B marketing from B2C marketing
So, these were the five key differences between B2C and B2B marketing. Understanding these differences will help you build a customer-first marketing approach and reach more qualified leads.
To sum up:
- While marketing to B2B buyers, your strategy should focus more on building brand values, long-term relationships with buyers, and maintaining open communication.
- On the other hand, marketing in B2C requires creating simple and relatable content and being present on social media platforms.