A lot of factors are taken into account when mapping out an effective marketing strategy for your business:
By having an answer to who your audience is, you are able to narrow down options when it comes to the factors in your marketing strategy. You can learn which channels your audience spends time on and tailor your message and creative to them. This gives you a higher chance of reaching potential buyers and will also allow you to see a better return on investment than if you marketed to simply everyone.
That’s why you hear the term B2B, or business to business, marketing.
B2B marketing is when a business markets its products or services to another business.
For example, a business that develops project management software isn’t going to market that software toward the individual customer, but the businesses that use them.
While that business might have a decision maker that the software company keeps in mind while developing their marketing strategy, that individual is making decisions on behalf of the business - which makes the business the custome.
B2C marketing is when a business markets its products or services to the individual consumer.
It looks at the interest and challenges of the consumer who is making purchases for themselves or the people in their lives.
Some examples are an e-commerce store that sells beauty products or a clothing store in your local mall.
While both B2B and B2C strategies are developed with someone in mind - those someones or “personas” look a little different.
B2B personas are very much driven by logic and are focussed on improving their business, productivity and expertise. They want to be educated and talk to a knowledgable salesperson when purchasing. Oftentimes they have to work with others in the business in the decision making process, but once they have made that decision to purchase they tend to keep a longer relationship with the company they purchase from.
B2C personas are driven by emotion and are looking to improve something in their everyday life, enjoy some entertainment, or find the best deals on products and services. They like to be informed about their purchases, but it’s not always a deciding factor. For the most part, they like to make purchases directly - independent of a salesperson or others in a decision making process. Once B2C customers have made a purchase, they aren’t really looking for long term relationships or contracts. However, they could become loyal customers to brands and products they favour.
As you can see the two types of personas are very different and so the strategy you develop would look very different for a B2B persona than a B2C. If you’re a business offers a product or service to other businesses and your message doesn’t let them know how what you offer adds value - your strategy could be all for naught.
Stuck on your B2B marketing strategy? Advisory Cure offers a free 30 minute consultation to help get you started. Book yours now!