How Does B2B Differ from B2C in Terms of Marketing?
If you've ever looked at the industries that some web design agencies serve, you might have noticed that some list B2B as an industry. Contrary to what they may believe, B2B is not an industry. Yes, it is made up of many different industries, but it itself is not a single industry.
That being said, different industries can opt for the B2B strategy. After all, it simply means that a business sells its services or products to another business. However, there are some differences between B2B and B2C, especially in terms of marketing.
So, exactly what makes B2B different from B2C (business-to-customer) in marketing? Here are a few examples:
1. Positioning
In B2B, the business's products or services are intended for other businesses rather than an individual consumer. This means that the products and services must be targeted toward a certain niche or specific industry. This is why many B2B businesses use their target audience's industry as part of their company's name.
2. Target Audience
Because many B2B companies are selling to other businesses, their target audience is other companies rather than individuals. This means that the way the business markets itself and promotes its products or services is geared toward attracting other businesses.
However, this doesn't mean that the business only markets to companies instead of individuals. Instead, it means that the marketing strategies used to attract an individual consumer are toned down and are instead geared toward the business-to-business market.
3. Marketing Media
The media that B2C companies use is generally geared toward the individual consumer. For example, television commercials, print ads in local newspapers or magazines, etc., are all geared toward an individual rather than a business.
However, B2B usually uses the same media that B2C companies use, but to a much lesser degree. This is because B2B companies are typically more tech-savvy and can use the internet and other advertising media that are targeted toward businesses.
4. Length and Depth of the Sales Funnel
To understand the difference in the length and depth of the sales funnel between B2B and B2C, you must first understand what the sales funnel is. The sales funnel is a term used to describe the process of selling a product or service from the very beginning to the very end.
Before a customer decides to purchase a product or service, they first become aware of the business. They then learn more about the business and the product or service that they offer. They then compare the business to other companies and finally decide if it is worth their money to buy their product or service. If they do decide to buy, it is the job of the website or sales representative to lead them through the process until they purchase the product or service.
In B2C, this entire process is completed much faster than in B2B. The customer is aware of the business, learns about the product or service, and then decides to buy the product or service.
In B2B, the process is a bit longer and more complex, meaning the sales funnel is longer. The customer is aware of the business and learns about its products or services. However, rather than deciding whether or not to purchase, the customer must choose which product or service to purchase from a few different options.
CONCLUSION
Overall, the main differences between B2B and B2C are that B2B companies focus on the buyer's industry, target businesses rather than individuals, use media geared toward businesses, and have a long and complex sales funnel. However, many other differences are not mentioned here but are just as important. Regardless, if you're a B2B company, always understand that your efforts will differ from a B2C company, even if slightly.
Tangoo Marketing is a B2B LinkedIn marketing and sales agency helping individuals in the SaaS and professional services to make their sales more effective and simpler. If you are looking for B2B LinkedIn marketing in Vancouver to help your business, work with us today!