Businesses consider the B2B and B2C to be completely non-related and isolated marketplaces. Business people who had succeeded in making the switch are the misnomers of our generation.
This will lead to a few pressing questions!
Can we consider the B2B and B2C to be entirely two different markets? Are they both governed by entirely different marketing tactics? Do B2B and B2C customers have entirely different mindsets? Will the success in B2B necessarily equip you to succeed in the B2C and vice versa?
Arguably, having the right answers to these questions would finally determine whether you succeed or jeopardize your business’s future. The businesses that have been successful have zeroed-in on the right answer. On the other side, some businesses end-up with inevitable negative balance sheets due to their mistakes in evaluating.
Ok, now please indulge as we go through some humblebrag.
We believe ourselves to be in a unique position to bring some perspective into answering this question.
But, how does this exactly work?
We have tasted success in both B2B and B2C marketplaces.
Our SaaS product ’Kapture CRM’ has opened the gates to the B2B landscape. The platform enables businesses to smartly manage their sales and lead management. Our 200+ strong client list includes Big Basket, Quikr, Manipal Hospitals etc.
Our Sister company, Adjetter Media Network excels in managing social accounts and websites to achieve their search and social visibility goals. We have found success in diverse industry verticals through our SEO, SMO efforts. This helps you improve the client’s bottom line in different industry verticals.
In answering these questions, we will not try to deliver a single knock-out answer. But, we will try to enable you to figure that answer by yourself in your individual circumstances. This will help you nourish or organize your business in achieving its highest growth rates.
Differences in Crafting B2B and B2C Marketing Strategy
The B2B and B2C industries are governed by entirely separate dynamics of client communication and closures. This requires you to craft messages that are engaging in those particular customer sections.
B2B marketplace has a much smaller prospect pool that needs you to close much bigger deals.
At present, both the B2B and B2C Industry requires you to stimulate 1-to-1 customer interactions.
This requires you to concisely plan for customer targeting.
Let us enumerate the most important point of differences.
- In the B2B marketplace, you have a largely fixed pool of customers whom you are looking to engage and convert. The B2C landscape involves you to continuously appeal to a constantly moving stream of customers.
- B2C marketing is focussed on creating recognition for the particular business. It can include creative advertising. The B2B marketing revolves around crafting positive logical arguments.
- Usually, B2B leads are much harder to generate than B2C leads. The B2B online lead generation has a much higher CPL or cost per Lead acquisition.
- B2B deals are more lucrative and carry a higher profit margin. The B2C deals are comparatively less competitive and come with a lesser profit margin.
With this in mind, B2B marketers require sales funnel to channel the acquired prospects towards long-term engagement and final conversion. This enables the acquired prospects to be streamlined to a single channel of conversion.
The B2C industry is focussed on converting immediate inquiries.
With this in mind, you can repeat a successful campaign for the same audience demographics. This allows you to replicate a successful campaign multiple times.
Manage Different Marketing tactics to attract different Audience
It’s very important to understand that you have different audience demographics on different platforms. Even the same audience demographics act differently in separate social searches.
For example, the users will be looking at entirely different messages on search and social streams. This allows you to streamline and manage attention in the different streams.
This allows businesses to streamline attention in different streams.
It’s true that B2B and B2C marketplaces require entirely two different approaches. But both of them work on the same marketing and sales principles.
Our Kapture CRM Marketing Platform helps you understand and adapt to your underlying Industry dynamics.