When developing a marketing strategy, it is crucial to consider your target audience and tailor your strategy accordingly. A business to business (B2B) company should consider promoting benefits such as their return-on-investment (ROI), strong customer service, and efficiency. A business to consumer (B2C) company instead should focus on creating an emotional connection to their customer and highlighting the quality of their product or service compared to competitors.
B2B Marketing Strategies
B2B companies offer services such as outsourced accounting, marketing, or cybersecurity, or products like raw materials, packaging, or signage. They target other businesses and tend to foster more complex and long-term customer relationships than B2C companies.
Businesses tend to buy and invest more than a single customer. So when buying a product or service the sales cycle is longer, multiple people are involved in the decision-making process, and there is a higher retention rate than standard consumers.
Businesses prioritise efficiency, reputation, and revenue. So B2B marketing strategies should target related pain points and help businesses become more profitable. B2B companies often reach out to potential customers through networking, webinars, and press releases.
B2C Marketing Strategies
B2C includes companies like grocery stores, hospitality venues and retail stores – any business that sells services and products to the general public. These sales are normally smaller and short-term, so B2C companies are more focused on reaching a wide range of customers and offering a strong product/service.
B2C companies tend to be more creative and adventurous in their marketing campaigns, and advertise through a wider range of channels to reach a broad audience. B2C businesses are more interested in fostering an emotional connection with the customer. This often entails utilising social media marketing, email campaigns, influencer outreach and offering discounts. B2C customer journeys are a lot shorter, people want quick and efficient customer service rather than a long-term customer relationship.
For more advice on running B2B and B2C businesses and running a strong marketing campaign, vist our Knowledge Hub.
