Knowledge is important in business and keeping it up to date is essential. So you shouldn’t get stuck on the same set of knowledge. You have to research and know more about the industry you’re working on. Along the way, you’ll encounter terms that are hard to understand at first glance but are easy to understand as long as you do your part.
B2B and B2C are some example of those terms. But, they aren’t just keywords. They actually play a huge role in business. So you really have to know about them. Here we’ll discuss more about them.
As you can see, there are some small businesses which sell their products or services to other businesses. That’s what we call Business to Business or B2B marketing. Meanwhile, those who sell to consumers are called B2C in short for Business to Consumer. That’s right; these abbreviations represent two different marketing relationships. It is important because whom you sell to makes a difference in what marketing methods are effective.
Business to Business
Business to business relationship requires being developed and on-going. Businesses like this should expect that their sales process is longer compared to that of B2C relationships. B2B decision making may also go through different levels. For example, the salesperson meets with the departmental manager, who then has to get approval from the business owner before the sale is closed.
Business to Consumer
B2C business includes Housecleaning services, restaurants and retail stores. Websites that offer consumer products are also B2C. The B2C sales cycle is shorter as it involves the business directly dealing with the consumer encouraging them buy the product right away.
Acknowledging the difference and knowing your strengths
Now, knowing the nature of the two, we also have to recognize that there are different marketing tactics used in B2B and B2C. One difference is in the methods of advertising, promotions and publicity which may not work the same way because each business has different targets. For example, Television or radio advertisements may be effective when you’re reaching out to direct consumers but may not when your market is composed of businesses.
Generally speaking, there is something that a business must provide to achieve success regardless of its target market. That is delivering relevant and engaging experiences to your customers at the right moment, every time.
You also have to make sure you are giving seamless experiences across all channels. Keep in mind that both consumer and business buyer expect a seamless experience across multiple touch points and channels.
Remember that your high-quality products can still mean nothing without a compelling and personalised customer experience. So it is important to prioritise customer experience and consider it always in every business decisions because in reality, people do not remember the products but instead the experiences they had in the process of purchasing.