10 Reasons Why B2B Marketing is Special and Different to Consumer Markets
B2B markets and B2C markets are both markets but the strategies and scale of businesses are very different.
Here is a list of why B2B products are different and you need to change the game plan.
- B2B Markets Have Complex Decision-Making Units
In B2B markets, there are bigger transactions involved, which has a bigger impact on businesses. These are categorized on the basis of value and risk. The marketer exhibits a high level of expertise in B2B marketing solutions while selling to the highly knowledgeable buyer.
- B2B Buyers Are More “Rational”
Contrary to consumers, B2B buyers are more rational and do not let their emotions come into the picture while drafting B2B marketing strategies. They can’t afford to lose out on profitable deals just because of a whim.
This is why trust and security are critical when it comes to B2b transactions.
- B2B Products Are Often More Complex
Just like the decision making is complex in B2B transactions, so are the products. Industrial products always require high levels of fine-tuning. They are almost never the same for clients.
Industrial products also need high expertise and precision to fit in the grand scheme of things, rather than simple standardized products intended for individuals (consumer goods).
B2B products need the marketer to know more about the technical details, provide after sales services, problem resolution, client management solutions, B2B marketing solutions and more.
- Limited Clientele In B2B Markets
Compared to consumer markets, B2B products and services have a small number of clientele with a large scale of operations.
It is easier to cater to a few buyers rather than millions. Set up after sales service personnel and customer relationship teams to solve problems and queries around the clock.
There are very few clients, hence it is more important to retain them.
- B2B Products and Services have Fewer Behavioral and Needs-Based Segments
Although B2B markets have fewer segments, identifying them is still a big task. It is only on the basis of this that you can make a marketing funnel to target them.
The most simple strategy may be to simply segment clients on the basis of geography.
- Cultivating Relationships is More Important In B2B Markets
Since there are only a few clientele, there is a bigger need to establish trust and personal relationships.
This clientele has a huge transaction quantity, which is ongoing and needs a certain level of trust to function properly.
- B2B Buyers Are Longer-Term Buyers
It is not easy to establish a transaction in huge proportions such as are required in B2B transactions. There is a lot of decision making, time and deliberation involved in the process. The sheer effort ensures that B2B clientele stays longer.
- B2B Markets Drive Innovation Less Than Consumer Markets
B2B marketers have the luxury of only following trends and not to drive them.
B2C markets are always dynamic to cater to the ever changing needs of the consumers. B2B markets are more stable and have to only focus on adaptive B2B marketing solutions. There is less innovation involved.
- Consumer Markets Rely On Packaging for Sales
Consumer markets spend a lot of money and effort on packaging, whereas B2B markets don’t need to worry about packaging. They can focus on developing relationships and expertise.
- Sub-Brands Are Less Effective In B2B Markets Compared to B2C.
Sub brands for B2B markets are usually marketing strategies that have gone wrong. B2B markets do not need sub brands, just a very knowledgeable technical sales team which can troubleshoot problems on the go.
Let’s Discuss B2B Marketing Strategies and Solutions Now!
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