What is B2B vs. B2C marketing? Is there a difference in the approach and method in both these marketing fields?
Business-to-Business (B2B) and Business-to-Consumer (B2C) marketers intend at cater to two very different audiences, capture their attentions distinctly. And while there are some generic commonalities between the two types of marketing, the driving prospects from each channel involves dissimilar communication approaches, particularly on social media front.
- Content and Flow – Marketers has the flexibility to leverage industry jargon to yield outstanding effect on B2B platforms,as opposed to B2C marketers whose voice must be subtle and relatable to the mainstream consumers — meaning fewer industry jargons and mainly follow a simple and fluid language.
- Drivers matter –While B2B audience roots for efficiency and expertise, on the other side B2C consumer audience are more likely to be attracted when offered deals and entertainment. Hence, the B2B purchase process is driven more through rationality and logic, while B2C depends on consumer choices which are typically triggered by basic human emotions, be it status, desire or cost.
- Expertise Vs Happiness – B2B clientele want to be educated and provided with expertise.They often want to look like the workplace honchos or leaders in their craft, thanks to their excellent decision-making skills. Again, on the other side of the spectrum are B2C customers who prefer enjoyment for themselves, want to be happy with their purchase and have it adequately fulfilled their emotional needs stated in point no. 2.
- Details matter the most in B2B – B2B marketing needs to be very precise, sound intelligent, be data driven with market statistics and with detailed elaborations.It’s an audience that expects to be catered to by a sales and marketing team. While B2C social media activities need to be more engaging and entertaining to increase the creed of followers. They should sound useful, novel and humorous so that the posts are more likeable and shareable, which certainly, is not as easy and can be challenging as the former.
- Content Length – Lengthy content works better in case of B2B marketing since a brand or business has a mammoth task of establishing its expertise and give the target audience a valid reason to buy in. While B2C consumers tend to prefer something short and crisp – eye catching to serve their emotions and attract their interests, primarily for the B2C products that are lower in price.
- Bonding and Equation – A B2C consumer who follows your brand does not necessarily mean they want to build a close relationship with it.Juxtaposed to that the B2B audience want information and the ability to build a close relationship with their brands.
- Supply Chain and Logistics constraints – B2B marketers have a long chain of command to be fulfilled before the purchase journey is realized – starting from procurement, accounting and higher up, they often need all important approvals for purchases. As opposed to that in B2C marketing process, an individual characteristically makes their own prompt purchase choices — sometimes seek the help of fellow buyers via recommendations and suggestions.
- Decision making Process – B2B buying cycle is quite a lengthy process unlike the B2C decision process.Consequently, it requires much more nurturing and has to be minutely monitored since the decision making in B2B is based on long term business goals. Whereas B2C buys tend to placate the customer’s instantaneous needs.
- Contract Period – A B2B contract for purchase often has longer tenure, lasts for months or even years, making the decision-making process much more critical. On the contrary, the overall B2C cycle can be as short as a few minutes depending on the product.
- Varying Issues – Both the marketers have distinguished problems.The common and widespread problem among B2B marketers is the lack of content and time to create it. While, in case of B2C marketers they would need more investment in their advertising budget and other ways to spread the buzz about their products. Obviously, this will have a substantial effect on tactical executions.
It is imperative that marketing professionals understand that the differentiating aspects between B2B and B2C marketing is chalked out for them to realize the basis. Their efforts are more streamlined and will find more success when reaching leads. Despite all the differentiations and tactics, whichever marketing landscape you belong to – B2B or B2C, entire marketing effort is focused towards P2P ->person to person.