When most people think about marketing, the first thing that pops into their mind is probably B2C (Business to Consumer) marketing. The sort of thing you’d find in most everyday transactions, like buying something for yourself online or on the high street. But B2B (Business to Business) transactions are some of the most important in the business world. So, what’s the difference? And how should you change your strategy when marketing to businesses rather than straight to consumers? Take a look below to find out some of the big differences between B2C and B2C marketing:
Trust and Relationships
One of the biggest differences between B2C and B2B marketing is the reliance on trust. Whilst it’s important to build trust in any business, this issue is huge if you’re operating B2B. In reality, a lot of B2C transactions don’t require you to form a relationship. For example, if you’re going out for lunch, you aren’t duty bound to go to the same place you always do. However, in B2B a relationship needs to be formed. Both partners need to know that they can trust each other to make good on their potential in the long term.
A big reason why trust and relationships are so important in B2B marketing is down to the volume of sales often made by a single customer. These aren’t just small purchases. A lot of the time businesses will buy hundreds if not thousands of units from another business. With such a big investment taking place, it’s essential that the buyer knows that what they’re getting fits their specification.
It’s not just volume that changes when dealing with other businesses. The process of earning new clients can be drastically different when compared with B2C marketing. For example, in some B2B industries, buyers will offer suppliers a contract to supply them with what they need for a limited time. The bidding process for these contracts can get extremely competitive, especially in the public sector, where getting a contract can make a huge difference to the business’s future. Therefore, marketing strategies need to be on top of this. By building trust and focusing on meeting the expectations of buyers these all-important contracts can be secured; meaning big returns for your business.
These are just some of the big differences between B2C and B2B marketing. Whilst a huge area for most businesses, it often doesn’t get the kind of attention it deserves. Tailoring your marketing specifically to B2B means that you’ll be well on your way to securing those essential clients and putting your business on the path to success!