Today we want to explain to you what is B2B and B2C. Surely you have come across these acronyms more than once when browsing the Internet. And you have wondered what they mean. Well, B2B is short for Business-to-Business (business to business), while B2C stands for Business-to-Consumer (business to consumer), and both refer to two different ways of doing business relationships and transactions.
The way to buy is completely different if what we are going to acquire is for ourselves or for work. As a clear example of this we have when someone is going to buy a piece of personal clothing. He or she goes to a store or searches the internet for the garment they like the most and then checks if they can afford it.
On the contrary, if what you need is to buy a printer for the office, the decision to buy it is not based on the criteria of this person, but rather those criteria respond in a timely manner to the need of the office. To do this, review the budget that they have been assigned, and for this type of decision a greater amount of information is required so as not to make a mistake that affects others.
For this reason, we point out with this example that it is not the same to market for other companies, than to do it for consumers. The marketing methods that we are going to use will depend on the type of market we are targeting. For this reason, it is essential to know the differences between B2B and B2C marketing, in order to plan effective strategies.
B2B (Business to Business)
As we have already mentioned, the acronym B2B refers to the corporate market, that is, those companies that market their products or services to other companies. In this way, the main purpose of the B2B marketing that you are going to use is to establish personal relationships, with which to end up reinforcing the prestige and identity of the brand. This means that you must convey the value of the company. The strategy focuses on showing our customers how the product helps them save time, resources and money.
B2B marketing is mainly linked to industry, public institutions and the government, and its characteristics are:
- It focuses on the logic of the product, leaving aside emotions. Its characteristics are emphasized. What the target audience wants is to know more about the product and how it will help them.
- The sales process is longer and also on a larger scale. This is because the purchase decision is premeditated and therefore will require more time to make. The value proposition should be more detailed in this case.
- The volume of customers is smaller, although the final purchase volume is larger. This helps us, since as the range of african buyers and clients is smaller, the strategies that are carried out must be more precise.
- Clients are focused on narrower and more specific markets.
- We can take advantage of industry events to advertise ourselves. In these events, companies look for specific products and services, so our advertising should be more personalized.
- The goals we want to achieve are long-term. The loyalty of a corporate client will be a treasure to maintain for our company.
B2C (Business to Consumer)
The acronym B2C refers to the mass consumer market, that is, companies that offer products or services to personal customers. Therefore, B2C marketing is aimed at highlighting the personal benefits that the product brings to consumers, through other types of paths, such as emotion or feelings. On the other hand, efforts are mainly aimed at reinforcing the brand through repetitive advertising. The main characteristics of B2C are:
- The purpose of this is to appeal to emotion and feelings to provoke an immediate need and desire to buy in most consumers.
- It is intended that the purchase process is short and also, the public is attracted with promotions and discounts. It is known and also proven that customers buy on impulse and, therefore, want a quick and effective sale.
- The volume of customers is large, however the volume of purchases from these is small.
- Customers are often scattered.
- Advertising is usually done through traditional mass media, such as television, radio, and newspapers.
- Quick and immediate results are pursued.
Main differences between B2B and B2C
Below we are going to summarize the 5 key points that differentiate B2B from B2C:
- The logic of buying the product. In B2B we focus on demonstrating the advantages that the purchase of our product or service can cause, while in B2C it is not the main objective.
- The rational versus the emotional. In B2B we focus on the rational aspect of the purchase, arguing why to buy our product. In B2C we seek to connect emotionally with the customer.
- The type of language. In B2B the language can be more technical than in B2C, because the buying company is specialized in the sector to which our product belongs.
- Decision times. In B2C, quick or immediate purchase is sought, while in B2B decision-making can take a long time.
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