Marketing for B2B vs. B2C: Similar but Different
Within a few years, B2B business has been flourished. As we can see, there is a common confusion among people regarding the concepts B2C (Business to Customer) and B2B (Business to Business) marketing strategies. Of course, it is one of the important issues for a successful online business. We may distinguish between Marketing for B2B vs. B2C by the fact that both of them aim for the same goal but through two different audiences. To simplify all these confusions about the B2B and B2C business furthermore, there are few similarities and differences that will help in this regard..
Similarities between B2B and B2C
1. Alignment of marketing and sales strategies
Marketing strategies are required to be aligned with sales strategies in both B2B business and B2C business, if not, it could create a massive confusion among potential customers. So, marketing and sales should be aligned where the marketing strategies generate the leads and the sales strategies convert those leads into clients.
2. Excellent customer service
Marketing stuff has to recognize all those customers with rigid as well as elastic demands so that they can satisfy the customers according to their needs and wishes. Also after a sale, the helpful support team and services, provided for customers will help to save churn rates.
3. Build and nurture their brand
It is important for both the B2B marketers and B2C marketers to work on building, developing and nurturing their brands to make it a strong name in the business world, as it is the brand name which can attract consumers even more. Consumers are more likely to invest in popular brands like Nike, Rolex, Puma, Benz because the brand is most important in the business industry. Marketing for B2B vs. B2C .
Differences between B2B and B2C
1.Different target groups
Though both have similar goals, B2B business and B2C business have their different strategic ways to get to their goals. The former deals with the companies while the latter happens between companies and consumers. Apart from that, B2B business gives more importance and focuses on their relationship with the enterprises whereas B2C business focuses on their products.
2. Single visits vs. Long-term relationship
In comparison, B2C business is a less complex cycle than B2B business. In B2C business, the single consumer body usually tends to search the product to buy and often finds their desired products by looking at the reviews on it given by the previous customers. It takes only a few hours to look for their products and it is all about single visits.
On the contrary, B2B business works differently. Here the company purchases their desired products and checks the product quality. If the deal becomes successful there will be more orders in future. So, it is basically based on trust and good relationship between companies and consumer which is hard to build but if it is once built, there will be long-term agreements.
3. Order quantity
Apart from the fact that both B2B and B2C sells the same products, there is a huge difference in their quantities. In B2B there are orders for more than 100 or even 1000 products where as there are few orders from individual consumers in B2C business. With this speed of whereas development of B2B business, it is expected to become twice as large as the B2C business within two upcoming years. Marketing for B2B vs. B2C .