Ahh, marketing jargon — it’s everywhere, isn’t it? From lead magnets to KPIs, there are an unlimited number of terms and things to remember when you’re implementing a marketing strategy. However, there are two terms that you absolutely have to understand: B2B and B2C. If you’re in the marketing space, you’ve likely heard one or both of these about a million times — and for good reason.
Why? Because B2B and B2C companies need different marketing strategies to be effective, and a big part of your job as a marketer is to understand them. Plus, it’s imperative that you know what B2B and B2C companies are, since you’ll likely work in one or both of them over the years, if you don’t already. Here’s what you need to know.
B2B vs. B2B companies: what’s the difference?
B2B companies, otherwise known as business to business companies, sell products or services primarily to other businesses (think: Salesforce, Hubspot, Hootsuite, and Slack). B2C companies, otherwise known as business to consumer companies, sell products or services primarily to consumers (think: Target, Starbucks, Amazon, and Netflix).
While some B2B companies also sell the occasional product or service to consumers and some B2C companies also sell the occasional product or service to other businesses, their primary missions are different — and that means that their marketing strategies need to be, too. From the volume that they’re selling to the markets they’re selling to, B2B and B2C companies both have different goals… and understanding those goals is key to acting on them the right way.
Effective marketing strategies for B2B and B2C companies
Wondering what strategies work best for each type of business? While all businesses can benefit from even the most basic marketing strategies, these are the best individualized ones:
B2C marketing strategies:
- Print, radio, and digital advertisements
- Social media — especially Instagram and Facebook
- Connecting with an email list
- Engaging people with fun, exciting content
- Targeting a wider audience of people
- Focusing on brand awareness and shorter selling cycles
- Encouraging purchases via emotion
B2B marketing strategies:
- Digital advertising
- Social media — especially through LinkedIn and Twitter
- Targeting a niche audience through email
- Educating people with in-depth, smart content
- Focusing on brand understanding over a longer selling cycle
- Encouraging purchases through logic
At Marketing Career Hub, we’re here to share the best marketing advice around — whether for B2B companies, B2C companies, or the companies in between. Looking for more resources? Check out more here.