The terms B2B and B2C were coined with the practice of online marketing. The first step in marketing is the same whether you sell to end consumers or other businesses. It is essential to use different marketing approaches for successful sales. Although many people may mistakenly believe that there is no difference between B2B and B2C marketing. The motivating factors behind these two types of buyers, as well as the information they are looking for when deciding to buy products or services, vary widely. These factors, therefore, influence the approach to marketing for the most part.
Do you know the abbreviations under which B2B and B2C are hidden?
The term B2B comes from the English abbreviation Business to Business (company to company), it is a marketing activity in which one company addresses another company. Similarly, there is B2C Business to Consumer marketing, which is aimed at non-corporate customers, ie end consumers. In B2B, the customer is a business entity, while in B2C, the customer is a consumer.
B2C marketing means business to consumer marketing. Here you can sell your product directly to consumers. The ultimate goal of B2C marketing is to transfer as many potential customers as possible by exciting (coupons, discounts, offers) or creating a need or desire for a product in their minds. Email campaigns are part of this type of marketing; here the customer is lured to the landing page, where he has to make a few clicks to complete the transaction. Besides, great customer service is a must to have loyal customers.
What are the differences between B2B and B2C marketing?
In B2C marketing, companies market their products or services directly to consumers, while in B2B marketing, companies market their products or services to other companies. This is the key difference between B2B and B2C marketing.
In addition, the customer base also makes a distinction between B2B and B2C marketing. B2B marketing has a small, targeted customer base, while B2C has huge customer opportunities. The volume of goods sold in B2B is large. In contrast, small quantities of goods are sold in B2C. Also, B2B marketing has a longer sales cycle and a longer purchasing process, while B2C marketing has a faster purchasing process. In B2B, business relationships last a long time, but in B2C, the relationship between buyer and seller lasts a short time. Besides, another difference between B2B and B2C marketing is that B2B marketing is relationship dependent, while B2C marketing is productive. These are the main differences between B2B and B2C marketing.
The biggest motivating factor when deciding to buy by the end consumer is emotion, while in the case of a business it is logic. The value of a brand is created based on the trust and personal relationships of business entities. Unlike B2C, where advertising and promotion create brand value. Also, the motivating factor is another difference between B2B and B2C marketing.
Customer service is critical in both B2B and B2C, although its effects are more pronounced in B2C. Creating a brand image is perhaps more important in B2B while creating a wish in the minds of end consumers is more important in B2C. So this is one major difference between B2B and B2C marketing. However, it is important to understand the needs of the target group in both B2B and B2C.