Before getting directly into the difference between B2B and B2C it is vital to know the basic difference first so let’s start with the basic definition of both.
What is B2B?
B2B is an abbreviation for business-to-business, and it means to sell a product or service directly from one business to another. Besides, it is a commercial transaction between two or more enterprises like the manufacturer to the supplier, supplier to whole seller or retailer.
Office furniture manufacturers, advertising agencies, and software companies are examples of B2B transactions.
What is B2C?
B2C stands for business to consumer, and as the name indicates, products or services are marketed to individual customers.
Unlike B2B, B2C sells services or products to the consumer for personal use, i.e., cars, landscape, clothing, shoes, or anything you buy from stores.
Difference between B2B and B2C:
B2B marketers sell services, technology, or software, whereas B2C usually sells goods.
Marketers are usually aware of both these terms and know the key differences, but here we will elaborate the differences to make them clear for those who are new or for those who have some doubts about the intent of both.
B2B and B2C are commercial transactions that use different strategies to reach the targeted audience. Let’s have a look at the differences between both.
1. Decision Makers and Decision Making Process Vary:
B2C is privileged when it comes to reaching and flexibility of the campaign. It is not necessary to approach the primary client directly. It’s a widespread practice to give product or service reviews among friends and family. Sometimes you find a useful product while surfing the internet and you think it would fascinate your friend or family member. You further tag him/her so that he can buy or avail it if interested. So word of mouth is a source of marketing in B2C.
On the other hand, B2B is more focused and restricted toward a particular person or group of decision-makers. Similarly, the decision-making process among B2B and B2C audiences is different.
The B2B consumers will see your ad or offer, do research and keep the product or service under consideration, and take the user reviews or consultancy before the final purchase.
Whereas B2C is quite fast comparatively. You see the product or service’s ad, look for product reviews on-page, and good to go.
2. Customer Relations:
B2B is a long-term relationship that aims to build your brand and your relationship with the consumer can make or break the relationship.
On the contrary, for B2C marketers, time is money, and they least bother to personally know the customer. Instead, they want them to make a purchase and move on quickly.
So B2B marketers build personal relationships, whereas B2C opt to establish a transactional relationship. As compare to B2B, the relationship among B2C entities is short term.
B2B focuses more on relationships when it comes to branding also. A B2B marketer has to build an image in the market and shine, driving lead generation and brand recognition.
B2B buying decision is based on needs with planning and logic.
B2C, on the other end, relies on the quality of product or service to make a long-term relationship between the consumer and the buyer. Furthermore, the buying decision of B2C is based on desire and want with emotions.
As a B2B marketer, you need to focus on your personality traits, whereas in B2C, you are bound to prioritize your message to make the maximum sales.
4. Targeting Audience:
B2B business usually targets a particular niche whose target audience demographic is imperative to understand. Moreover, the best way to spot the target audience is to Google and evaluate the search engine result pages’ keywords.
B2C, however, works has a more extensive scale market with a much more spread out target. Unlike B2B, the consumer might purchase from an online store and never come back.
5. Content, Marketing, and Strategy:
It is vital to get a lot of traffic and conversion to run an e-commerce B2C business. A conversational tone is set up to build simple, catchy, and to the point content.
The content is framed according to the advertising aim. Whereas, for B2B, advertising content is formal and much elaborated.
The purpose of such industrial marketing is to educate the potential buyers and bring the company in a broader view.
The content, marketing, and strategy in B2B are designed to show their expertise in the particular niche.
Social Strategy of B2B VS B2C:
B2B: Focus of B2B is focused on the traffic on site, voice, leads and conversions.
B2C: Focuses on the audience growth, brand health and engagement reports.
B2B: It invests deeply in social media anlytics, media spend and content on perticular niche.
B2C: invests in customer service, social conversion and building brand loyalty.
B2B: Majority B2B marketers prefer Linkedln as social platform.
B2C: Mostly B2C marketers prefer Facebook as preffered social media platform.
Examples of B2B and B2C Marketers 2021:
Google, AliBaba, ShopifyPlus, Pepperi, BigCommerce, and PrestaShop.
Amazon, Mcdonalds, Netflix, Television Commercials and Nordstorm.
B2B customers are multiple stake holders, and the sales cycle also depends on multiple influencers. Moreover, the key objective of B2B is to aquire the lead and right contacts, increase revenue and sales, cultivate cross sells and up sells.
On the contraty, B2C customers are decision makers single handedly, and the purchasing decision is also simple. furthermore, the key objective of B2C is to increase brand awareness, cutivate customer loyalty and drive qualified traffic.