Recent years, B2B business has emerged and you may be confused about the difference between B2B and B2C in marketing strategies. It’s definitely one of the significant issues to have a successful online business. As described by Tabara N’Diaye: “B2B and B2C marketing have similar goals but communicating to two very distinct audiences.” Here JumoreGlobal would like to conclude the key factors of B2B and B2C marketing.
Similarities between B2B and B2C
- Marketing and sales alignment
They both require alignment with marketing，if their marketing strategies are not aligned with sales strategies, potential customers may get confused. As a result, marketing and sales departments should work closely. The former helps generate leads, the latter transfers the leads into clients, both of which work heading to the revenue.
- Excellent customer service
Staffs who do marketing have to recognize the difference between customers with rigid demand and elastic demand, in order to satisfy them according to their needs and desires. Once a sale is made, the support team and helpful service which customers can enjoy will do good to save churn rates.
- Marketers must build and nurture their brand
It is important for both the B2B and the B2C marketers to build a strong brand which can encourage the consumer to buy. For consumers, even they may pay more, they prefer to buy brands which have high status like Benz, Lexus, Rolex or Nike as brands play a big role in the purchasing behavior.
Differences between B2B and B2C
- Different target groups
B2B and B2C have same goals but different patterns, as one is happened between companies, the other is companies and consumers. In addition to this, B2B is focus on the relationships with enterprises and B2C is focus on product.
- Single visits vs. long lasting relationships
B2C sales cycle is less complex than the B2B sales process. Consumer in B2C usually is a single one and looks for a specific product which he wants to buy. The things he should do before choose the product is researching the similar products on the market and assess the product through previous customer reviews. It may take only a few hours from awareness to purchase.
In B2B, he purchases something required by his company and needs to verify the quality of products, if one order made successfully, more orders will be placed. The business relationship and trust of B2B might be hard to be built, once it works it could be a long-term stable network.
- Differ in order quantity
With the development of B2B e-commerce market, B2B market is expected to become twice as large as B2C’s in 2020. Customers have different characters and in different relationships, in B2B, they are entities, in B2C, they are consumers. Although B2B and B2C market may sell the same products, but ordering a 100 or even a 1000 products in B2B market is a common ting compared to B2C web stores. Obviously, large quantities are sold in B2B, on the contrary, small are sold in B2C.
If you want to get into the B2B market but don’t know where to start, read our article Lead Generation: The First Step for a B2B E-Commerce Beginner to Take.