In the world of business and marketing, you may have heard of the following terms: business-to-business (B2B) and business-to-consumer (B2C). Both differ in terms of the two distinct audiences that they cater to and their marketing approach as well.
The question is: what’s the difference between B2B and B2C marketing? We’ll answer this vital question in the following section. Keep on reading to find out more.
B2B vs. B2C in a nutshell
- B2B: This is a business model where one business makes a commercial transaction with another. It involves an exchange of products, services, or information between companies, rather than between businesses and consumers. For instance, one company is sourcing its materials to another business for its production process.
- B2C: This is a business model where a company conducts business transactions with their customers. The customers are individual consumers, rather than professional buyers. For instance, an e-commerce business sells beauty products to prospective customers online.
The difference in marketing
When it comes to marketing, B2B and B2C marketing basically differ on how they deal with and communicate with their audiences. For the most part, B2C marketing is more focused on quick solutions and enjoyable content, while B2B marketing is more concerned with building relationships and earning a high return on investment. We’ll go into further details below.
- ROI: B2B audiences are after efficiency and expertise, more than deals and entertainment. That said, your company’s goal is to provide value to another business in such a way that it will earn a high return on investment (ROI) out of this business transaction.
- Education: B2B audiences want to be educated about the products or services you’re offering. Hence, B2B content marketing is the most appropriate approach for the B2B model.
- Detailed content: B2B customers expect to be catered to by your sales and marketing teams. That given, make sure to include important details to your content that a B2B buyer may find necessary and relevant.
- Chain of command: In B2B situations, companies need the procurement, accounting, and department heads to approve purchases. There’s also a chain of command that needs to be strictly followed when conducting business transactions.
- Veer away from industry jargon: Most consumers aren’t acquainted with the industry jargon. When it comes to marketing, you must use simpler, clearer, and more concise language for the customers to understand.
- Emotional decision: B2C audiences are emotionally driven when it comes to making purchases. For your marketing efforts, you should know how to stir or evoke their emotions in such a way that they will be persuaded or compelled to make a purchase.
- Fun factor: B2C customers are highly invested in their own enjoyment and pleasure when making a purchase. Make sure to incorporate the fun aspect in your marketing to appeal to the audience.