Firstly, let’s break down these acronyms and explain what they mean. B2B refers to business to business, in which a business exchanges products, services or information to another business whilst B2C refers to business to consumer, meaning that a business exchanges products, services or information to consumers. Although to some, there may not be a huge difference between these two categories, however to marketers, it can mean quite a difference in the way we interact and conduct marketing strategies to target these two areas. We have broken down the similarities and differences between B2B and B2C so you can make appropriate changes depending on who you are trying to target. 

 

Differences 

Buyer Type

Depending on which category you are operating within, the buyer types differentiate a lot as for starters you are targeting either businesses or consumers, which has huge variations in the way they think as well as in their wants and needs. B2C marketing tends to focus on the individuals needs and desires therefore we factor in the demographics / behavioural / geographical / psychological of that particular ‘target market individual’.  Whereas B2B marketing focuses on the individual in a professional sense, such as their position within the company, company size, department size, number of people within the work group / team, budget size, which industry that the business operates within. B2B marketing also tends to involve locating the ‘pain points’ of the buyer and how their product/service/information hits and resolves that pain point. Generally within B2C marketing, you have a target market which is filled with consumers who have similar interests and needs and are similar in terms of the way that they are segmented. Whereas within the B2B marketing process, often you are targeting the business as a whole, therefore as a result when you break it down, there are lots of individuals with different needs and wants that need to be persuaded by what you are selling too, as ultimately it is them that make the final decision. 

Customer Volume

The B2C industry often have a much wider and broader segmented market that they are able to target, therefore have more play and freedom within their targeting strategy. Whilst B2B industries are much more restricted as for starters, there are a lot less businesses than there are individuals and businesses are situated within different industries, so what you are offering will not apply to every single business within the market.

 

Similarities 

Data Driven ROI

No matter what industry you are competing in, whether you are B2B or B2C, at the end of the day the goal for both categories is to break even and generate a profit margin. This type of goal is generally driven by data that has been gathered throughout the marketing journey. Whether you are a B2B or B2C, you both will be able to accumulate data, analyse it and use it to adjust or create new marketing strategies. 

Buyer Personas

As we mentioned earlier the target market for each of the categories are completely different. However, no matter which category you operate in, marketers still need to develop buyer personas for their target audience. This step is vital as it helps to determine who those buyers are / their needs and wants and where they are located. 

 

As an award-winning digital marketing company Singapore, Digital Squad looks after all aspects of Digital Marketing and SEO so that you don’t have to. Get in touch with a B2B Marketing Firm today to discover how to successfully market your business. Digital Squad can assist with all B2B Marketing and keep you on track and in the lead within your industry.