It is so hard to please the creative department with a limited budget. If you are a marketer, you possibly struggle to decide which channel to choose for your B2B or B2C marketing strategies. The Digital Branding Institute affirms that “the right marketing channel can mean success; the wrong one can doom your new business. It’s a bit like that scene in Indiana Jones and the Last Crusade.”
First, let’s understand what B2B and B2C stand for.
Specialist Jacqueline Zenn explains that B2B means “businesses whose customers are other businesses.” B2B marketing focuses on the needs of people who buy on behalf of their organization instead of themselves.
One of the most famous examples of B2B is LinkedIn. The social network connects business buyers with professionals and it is one of the major platforms in content marketing.
B2C, in the other hand, stands for business-to-consumer. All the supermarkets or family businesses where you buy are B2C companies. Those companies advertise based on your needs and desires as a consumer.
Hubspot.com created a table to differentiate B2B from B2C.
|FOR B2B MARKETING||FOR B2C MARKETING|
|Goal||Customers are focused on ROI, efficiency, and expertise.||Customers are seeking deals and entertainment (which means marketing needs to be more fun).|
|Purchase Motivation||Customers are driven by logic and financial incentive.||Customers are driven by emotion.|
|Drivers||Customers want to be educated (which is where B2B content marketing comes in).||Customers appreciate education but don’t always need it to make a purchase decision.|
|Purchase Process||Customers like (if not prefer) to work with account managers and salespeople.||Customers like to make purchases directly.|
|People Involved in Purchase||Customers often have to confer with decision makers and other members of their chain of command before making a purchase decision.||Customers rarely need to confer with others before making a purchase decision.|
|Purchase Purpose||Customers make purchases for long-term solutions, resulting in a longer sales cycle, longer contracts, and longer relationships with companies.||Customers aren’t necessarily looking for long-term solutions or long-term relationships.|
Which Are the Most Effective Channels?
The hardest part is finding the right mix for your campaign. It all depends on your goals.
If you want to increase site traffic and revenue quickly, digital marketing channels work better.
Although advertising through broadcast, billboards, prints, or mail is always practical, companies rely on digital marketing channels progressively because they are trackable and cost-efficient. Digital marketing channels also report high-quality leads and quick return on marketing dollars.
Graphic source: 2xecommerce
Today, platforms like Google Analytics can track every lead, conversion, and dollar spent. B2B and B2C digital marketing also offer higher exposure to your target audience, translating into qualified leads.
All those advantages optimize your budget and guarantee a higher return on your investment.
Nevertheless, consultants like valve+meter recommend using a multitude of channels daily to ensure they generate recurring revenue and meet the cost per acquisition goals.
In other words, don’t have all eggs put into one channel.
If you have any experience on this matter that you would like to share, please let me know. I’m here to listen.
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