Determining Your Marketing Strategy: B2B or B2C Marketing
When deciding to use B2B or B2C marketing you must first consider your customer. B2B is business to business marketing and B2C is business to consumer marketing. The goal of social media marketing is to build a relationship with your customers and grow visibility. You must know who your customers are and decide if you are going to utilize B2B or B2C marketing.
For some, this decision will be easy as the product is either geared to consumers or businesses. For others, the decision is a bit more difficult because the product could be marketed to both businesses and consumers.
What are the Differences in B2B and B2C Marketing?
There are key differences to how consumers and business approach a purchase. Knowing and understanding these differences is essential in creating a B2B or B2C marketing plan.
When a business is considering a purchase the decision is based on logic. There is little emotion involved. Businesses need information on the product. The cost of sale to a business is typically higher for this reason. So keep in mind that this type of targeted marketing may require higher budgeting for the big ROI for your efforts.
Consumers make purchases based on emotion and need. Consumers will make spur of the moment decisions and spend less time researching facts. If this is your target customer then your marketing strategy should include learning where they hang out online and then developing a social media marketing strategy that will draw them to purchase from you.
Tips for B2B or B2C Marketing
As you develop your marketing strategy and determine whether to go with B2B or B2C, here are a few things that can help you make your decision:
- Focus on features of the product
- Marketing materials need to be more in depth
- Customers want to know how the product helps them in their business
- Focus on the benefits of the product and clearly point them out
- Get to the point quickly
- Customers want to know how your product benefits them personally.
When using social media to grow your visibility and market your product take some time to consider who your customer is and how their decisions to make a purchase comes about. Some of the most successful social media strategies were accomplished because the right marketing decision was made between B2B or B2C.
What do the statistic show about B2B or B2C Marketing?
According to a survey from Ascend2, B2B and B2C marketers have different views on what is the most effective marketing tactic and their goals. B2B companies strive to increase quality and quantity. They also strive to boost sales conversions.
B2C companies primary focus is increasing lead conversion rates and driving website traffic.
Similarities Between B2B and B2C Marketing Campaigns
The goal regardless of who you are marketing to is to establish a connection. Customers expect you to build a relationship of value to not only yourself but to your customer.
Customers want to get to know you. Ads are no longer the only way to reach customers. Customers are looking for a personal relationship. They want to feel a sense of trust in you.
When marketing using social media to grow your visibility strive to truly engage and connect with your customers.