What is Business to Business (B2B) marketing?

What is Business to Business (B2B) marketing

What is Business to Business (B2B) marketing? Business to Business marketing, or in its abbreviation B2B, are those marketing strategies that a company applies to sell products or services to other companies.

 

Its main characteristic is that it is a marketing relationship between companies mainly instead of individuals, as has already been seen in traditional digital marketing.

 

Other particularities of this type of marketing are:

 

What is Business to Business (B2B) marketing? Fewer customers

 

What is Business to Business (B2B) marketingB2B marketing seeks to attract other companies as customers.

 

Because they are companies, the volume of clients tends to be much lower than if we talk about individual people.

 

Marketing based on rationality

 

This type of promotion seeks to get straight to the point, not arouse emotions.

 

Companies looking for a specific product or service do not want the other party to convince them because they already know what they need. Still, they are looking for a competitive price so that the purchase is as favourable as possible for the budget.

 

Protocol procedures: What is Business to Business (B2B) marketing?

 

When a company must choose concerning acquiring a particular product or service, it usually goes through several decision channels before the definitive yes, which generally takes time, making it a slow process.

 

Likewise, accessing the person who makes the final decision is complicated; negotiating through filters for whom the advertising applied is probably unnecessary.

 

Internet-marketing: What is Business to Business (B2B) marketing?

 

B2B marketing must be up-to-date with digital innovations, focusing its strategy on applying online marketing mainly to reach more companies more efficiently.

 

What is B2B, and what is it for?

 

What is Business to Business (B2B) marketingAnother definition that we can include is that B2B marketing is a business scheme in which an exchange of products and services between companies is carried out.

It is used for one company to offer another a solution to some other needs.

 

An example of the situation would be a digital marketing company that offers its services to another to position it in the market and make it more visible through instruments such as websites and blogs.

 

What is B2C marketing?

 

 

  • It is characterised by marketing mass consumption products or services, which is why it is designed for a broad audience.

 

 

  • The promotion, customer acquisition and sales processes are usually short since the hook is sought through promotions or low opportunity prices.

 

  • The number of clients or public is significant. However, that often does not translate into a high sales volume.

 

  • For the application of B2C, different digital media are used, with social media being the primary or favourite because it’s where the most significant number of customers are.

 

Differences between Business to Business and Business to Consumer.

 

Both schemes differ in:

 

Business-to-business Business-to-consumer
  • Its objective is to sell products or services to companies.
  • Your goal is to sell products or services to people.
  • Focuses on high volume sales
  • Sales usually are retail.
  • They seek to close sales quickly and effectively.
  • Appeal to the emotions.
  • Dealing with clients is formal.
  • The treatment of the public is informal, casual, humorous
  • It is oriented to cover and solve punctual needs.
  • It seeks to satisfy basic needs or sell not essential products.
  • Inclines to long-term relationships.
  • It seeks to finalise the sale mainly without establishing a permanent link.
  • Decision-making can be bureaucratic and formal.
  • The decision to make the purchase depends directly on the customer and is subject to the emotions they may have at the time.
  • Sales are usually few but highly remunerative.
  • It produces large amounts of sales but of little value.
  • Look for long-term goals and relationships.
  • The goals are short-term, hook the customer and make a sale immediately.
  • Marketing strategies are oriented to logical and rational needs.
  • It aims to encourage consumption in response to an emotion or desire for a product that is not strictly necessary.

 

Advantages and disadvantages of B2B.

 

Advantages Disadvantages
  • A portfolio of business clients is created
  • It would be a limited or shortlist of clients due to the type of product or service they offer.
  • Once the client has been captured, the acquisition of your product is practically a repetitive event, so it is not necessary to update your campaigns or marketing strategies periodically.
  • There may not be a significant increase in revenue for a period if new customers are not frequently acquired.
  • The captured customer usually stays consuming your service for an extended period of time.
  • Negotiations don’t often take place quickly or immediately.
  • The best tools are email marketing and e-commerce.
  • Despite being exact tools, they are limited compared to the rest of the digital marketing strategies that can be applied.
  • B2B marketing usually involves low costs.
  • The sales process is slow and complex.

 

 

Advantages and disadvantages of B2C.

 

Advantages Disadvantages
  • Sales are made more simply and directly.
  • They may not become loyal, long-term customers and may change providers.
  • The trend is towards high trading volume.
  • Despite making many sales, the income is usually not high.
  • Customer acquisition and purchases depend mainly on an emotional factor.
  • Due to this, the campaign may not be successful as it fails to convince the person.
  • The public is much more extensive in terms of data on sex, age, geographical location
  • As the public is so extensive, it can become dispersed and not specified.

 

In conclusion, it cannot be said that one is better than another since their objectives are different.

 

Everything will depend on who your product or service and customers are. This way, you will determine which of the two works better as a digital marketing strategy.

 

Additionally, the cost of the products you offer must be considered. Often, those who use B2B are large companies whose prices to charge are high.

 

While those who go through the B2C route often offer objects of less value and everyday use that can be marketed through less formal channels, social media being one of them.

 

In this case, both schemes have their advantages. You have to choose the right one for you and your business.

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