Broadly speaking, both B2B and B2C marketing involve selling a product or service to a customer. However, there are fundamental differences between these two types of marketing.
Put simply, B2B marketing is brain-driven, while B2C marketing is heart-driven. In other words, B2B marketing makes use of logic, whereas B2C marketing makes use of emotions. Let’s delve a little deeper into what distinguishes one from the other.
Centered around relationships
· Smaller, more focused audience
· Lower customer turnover rate
· Educational, awareness-building work to turn prospects into clients
· High cost of sales
· Logical purchase process driven by business value
· Longer sales cycle
Centered around products/transactions
· Larger, broader audience
· Higher customer turnover rate
· Aggressive promotional work to turn shoppers into buyers
· Wide range of cost of sales
· Emotional purchase process driven by benefits and desires
· Shorter sales cycle
The most effective marketing occurs when you understand what your specific market requires to make a purchase decision. What are your thoughts on the key differences between B2B and B2C marketing? Share your comments below.