One of the biggest challenges for any business is to efficiently market its products. There are so many factors that can affect the ability of a business to create marketing advertisements in Singapore. This includes creative demands, limited budget, channel decisions to name a few.
However, one of the major challenges for business marketing is identifying the target “audience”. If a business is unable to do so, all its marketing strategies will certainly fail.
The major difference in target audience comes when businesses either serve personal shoppers or businesses. Marketing to business organizations is quite different than marketing to personal shoppers. In technical terms, this is also known as B2B marketing and B2C marketing.
In this blog post, we will get to know the difference between B2B vs B2C marketing and customers. This will give you a better understanding of identifying what kind of business you are and what strategy suits you best. So, let’s get started.
B2B Marketing
B2B (Business-to-Business) marketing caters to the needs, interests, and demands of other business organizations. In this type of marketing, the target audience is not an individual shopper, but an organization is a customer. This will include any individuals who are purchasing on behalf of their organization. A few examples of B2B companies include:
- A company that offers coworking or shared spaces to businesses and freelancers.
- Or a company that provides software tools and services to other businesses.
B2C Marketing
B2C (Business-to-consumer) marketing and advertising caters to the needs, interests, and demands of individual shoppers. In this type of marketing, the business will target individuals who are shopping on behalf of or for themselves. A few examples of B2C companies include:
- A company that sells clothing items for men, women, and children
- A company that sells music or video subscriptions to listeners and viewers.
B2B vs B2C Customers
Since marketing is completely dependent on your target audience, you need to know the major difference amongst customers based on several factors. Here’s how B2B and B2C customers differ based on different factors.
Goal
The main goal of B2B customers is efficiency, ROI, and expertise. However, B2C customers are looking for entertainment and fun deals.
Therefore, B2B marketing needs to be direct and to the point, whereas B2C marketing must be fun and engaging.
Purchase Motivation
B2B customers are motivated to purchase a service or product based on their financial incentive and logic whereas B2C customers are motivated by their emotions.
You might have heard people shopping for lots of different clothing items just because they liked it. This emotional aspect is crucial for B2C businesses to marketing their products and services.
Drivers
For B2B customers, they want to have resources that will educate them about the product or service. Hence B2B content marketing is a crucial aspect.
On the other B2C customers will appreciate crucial information; however, they don’t necessarily need it to make a purchase.
Purchase Process
B2B customers are more interested and will prefer working with account managers and salespeople whereas B2C customers will want to make a purchase directly.
People in the Purchase process
Usually, B2B customers have to discuss the purchase of an item with their chain in command. However, B2C customers rarely need to discuss their purchase with anyone else.
Purchase Purpose
B2B customers are looking for long-term solutions. Therefore, they will be interested in creating long-term relationships with the seller. Also, the sale cycle will be longer.
B2C customers, on the other hand, are not looking for long-term solutions nor long-term relationships with brands.
Although B2B customers and B2C customers differ in various aspects, they are also similar. There are chances for B2B marketers to learn something from B2C marketing.
If you want professional assistance in targeting the right audience for your business, get in touch with us at Hyper Fame Digital. We are a leading performance marketing and advertising agency in Singapore that will help you market your business to the right audience.
Get in touch with us now to know more.
