Business to Business (B2B): What is it and how is it different from Business to Consumer (B2C)?
The Business to Business or B2B concept refers to a business model in which products or services offered are targeted to the corporate or industrial market. That is, the client of a company is another company or business and not the final consumer, as in the case of Business to Consumer or B2C.
Typically, purchase decisions in B2B involve more than one person and are based on a deep analysis of all types of benefits the investment may bring to the company. Therefore, the purchase process tends to be slower.
An aspect companies consider essential to B2B is the Return on Investment (ROI) or, in other words, the purchase impact in their final profit.
On the other hand, the purchase process in B2C is shorter and impulsive, since it relies more on emotion than in rational thinking or the long-term benefit of the product or service, since, usually, they are meant for immediate consumption.
In addition, generally, the purchase decision in B2C involves a single person or, if any, a small group of people. The reason is that, usually, the product or service is purchased or hired for personal consumption.
Therefore, it is essential that you are fully aware of the business model to be implemented, in order to successfully adapt your communication and marketing strategies to its specific needs.
For example, in the case of B2B, and since the target market is much more selective and smaller than that for B2C, your strategies to reach your target audience must focus, especially, in personalized contact with your clients. An example is e-mail marketing.
By contrast, B2C tends to contact their target via mass media, whether traditional (television, radio and printed media), or digital (websites, online search engines, social networks, etc.).
In addition, remember that purchase decisions of companies are based on a deeper analysis of what you can offer. Therefore, in B2B, the content generated must be, primarily, informative and verified.
Always bear in mind that in Business to Business or B2B the purchase decisions will never be defined by the feeling the product awakens, but by what you can be proved with facts.