These two types of markets are both different and yet still similar. First, we should define these two acronyms. B2B means a business (your company) marketing their products and services to other businesses. B2C means a business (your company) marketing their products and services to consumers or people who will be using the product themselves.
Let’s start with the differences. The first difference is the locations where you will find your customers depending on which type of customer you are reaching. For B2B you will most likely be working with social networks like LinkedIn, or building an email list from trade events and webinars. You might also place ads in specific industry trade magazines. For B2C you are going to find your customers by working on social media networks like Facebook or Instagram, and you might be running ads via Google Ad Words and going to craft fairs. The next difference is going to be the customer’s expectations and how you manage those expectations. B2C customers have less understanding of what it takes to provide them the product, but this is also an opportunity to offer a little more value through service and to charge a premium for that value. On the flip side, a B2B customer might have more understanding of what it takes and can be more part of the process on the front end (things like providing print-ready artwork) and therefore be easier to manage. With that, you would expect them to be more driven by value in their purchasing decisions, which mean your margins are going to be smaller.
Now at the end of the day, don’t get yourself too caught up on the B2B versus B2C. Yes, it will help you know where to find your customers and set your standards, but we also have to remember that all marketing should really be looked at as P2P, person to person. Marketing is about building relationships from one person to another, so your target customer feels comfortable paying you for the products or services you provide.
