What does B2B stand for?
B2B is short for business to business. It refers to one businesses’ products and services being marketed to other businesses. Some examples of B2B businesses are web hosting services, advertising agencies, and landlords who lease office and retail space. iBoomerang’s services could be described as an example as well.
What does B2C stand for?
You guessed it—B2C is short for business to consumer. It is used to refer to businesses selling and marketing to consumers. I’m sure all sorts of examples come to your mind, including restaurants and retail stores.
Although the marketing strategies for both B2C and B2B are similar in many ways, there are some differences in the way each markets to their customers. It is important to understand each of these methods, because a good marketer knows when to use each method, and that sometimes it is important to use both methods for a sale. We will all be better marketers if we understand what both audiences need in order to make decisions.
When marketing to a B2B, your main focus should be on logic, efficiency, and expertise. Paying mind to the features of a product as well as understanding the organization’s operation and procedures can help you better market to this demographic. Often times, the B2B market are information seekers with a desire for knowledge.
When designing your marketing materials for a B2B audience, use in-depth marketing channels that focus on how your product service/saves the business time, money, and resources. Your marketing materials should be highly detailed and lengthy to showcase your expertise. Remember that an effective message for a business is centered on education, not emotion.
It is also important to remember that business purchases and contracts tend to last months or even years, while strictly consumer contracts can be as short as a couple of minutes depending on the product.
Although B2C marketing can share many of the same techniques as B2B marketing, there are some key differences. Marketing to a consumer should focus on the benefits of a product. A consumer’s decision is more emotional. Another factor that should play into your message is convenience in the way a message is delivered to a consumer.
Consumers are less likely to care about lengthy informational messages about products (Unless you are awake at 3 a.m. and a Shark vacuum-cleaner infomercial comes on TV). Consumers typically want you to get right to the point, and want to know the specific benefits that your product or service will bring them.
Your voice should be relatable to consumers by communicating with them through simpler language. On the contrary, marketers can use industry jargon to their advantage with B2B marketing.
Think about these marketing strategies the next time you craft your promotional materials or update your social media profiles.
iBoomerang can help you with all of your marketing needs!