The digital marketing world is familiar with the terms B2B and B2C but it is highly unlikely that they will know how to target B2B and B2C prospects, and what marketing strategies they need to adopt! While B2B (business-to-business) strategies are process-driven purchasing decisions, B2C (business-to-consumer) focuses on purchasing decisions that are based on emotions. For the two marketing types – B2B and B2C, marketers need to implement strategies in such a way that they can effectively capture the attention of the two distinct audiences.
Ways To Target B2B Prospects
B2B businesses need to gain direct access to relevant decision-makers in the industry to increase their reach and visibility along with showcasing their products and services. When trying to find the details or background of the decision-maker in a particular company, an online search will usually consist of the following combination: it could be company name & founder name, or company name & co-founder name, or company name & sales manager, or company name & marketing manager, and so on.
For example, if you need to find the Director of Exide Industries, the online Google search will yield a result as shown in the above image. Let’s discuss below some of the tricks to target the B2B prospects.
Building Personal Relationships
Relationship building plays a crucial role in B2B marketing. This is true especially during the buying cycle. The top priority of B2B businesses is to generate leads and drive long-term relationships. When targeting B2B prospects focus has to be on building personal relationships – this helps to generate repeat and referral business.
Understanding the demographics of the target audience is essential when targeting B2B prospects since B2B businesses thrive in a niche market. To target B2B prospects, compiling and analyzing accurate data effectively can attract the audience. As lead generation is the main goal for B2B marketers, they need to build a top-of-funnel prospect list. This can be followed by an integrated re-marketing and lead generation marketing funnel
Speaking a similar language that their target audience likes to hear is what B2B businesses need to take care of when targeting their prospects. B2B prospects prefer purchasing services or products from experts – those who understand their terminology and processes. For example, selling costly software requires the B2B business to focus on building confidence in the prospect. In B2B business no emotions should come in the way. B2B prospects that intend to buy software that will improve the overall performance of their business will always go for it.
Understanding Decision-Making Process
The Decision-making process of B2B prospects is meticulous and calculative. This should be kept in mind when targeting B2B buyers as purchasing decisions are taken by committees within their business. It can involve various departments like procurement or accounts for the approval of the purchases.
Showcasing Efficiency & Expertise to Drive ROI
Logic and financial incentives drive the purchasing process of B2B customers. B2B buyers seek efficiency and expertise. B2B prospects analyze the Return on Investment (ROI) before buying any product or service from other businesses.
Ways To Target B2C Prospects
Individuals and not decision-makers for a major chunk of the B2C prospects. Businesses that wish to target B2C prospects need to cater to the interests and challenges of people in their daily lives. For example, FMCG companies are a B2C businesses that sells oral care products like toothbrushes and tooth-pastes. The background of a B2C prospect can be explored more by searching their social media profile in say, Facebook or LinkedIn. It can give insights about their occupation, company, business, etc. Such details can indeed help you to devise your personalization campaigns. Discussed below are some of the tricks that help to target B2C prospects.
Showcasing High-Quality Products at Competitive Prices
When selling a product to B2C prospects, businesses need to keep in mind that they need to spend maximum time on delivering high-quality products at competitive prices. This has to be done in the quickest time possible. The major goal when targeting B2C prospects is to induce them to buy products on the website of the company or its affiliate.
Following Marketing Funnel
The market of B2C prospects is on a larger scale and the area where they exist is more spread-out. So, targeting B2C prospects involves marketers following the marketing funnel to acquire them. It should begin by pushing emotional advertisements at the top of the funnel. This enables in creating a wide net to gain qualified top-of-funnel leads. When businesses analyze the demographics of the top-of-funnel leads, it helps them to generate the warmest lead list that converts into sales.
Avoiding Industry Jargons
Using a voice that entices prospects to click on an advertisement can be helpful. When targeting B2C prospects using straightforward language that speaks in the customer’s voice is important. When targeting B2C prospects, businesses need to avoid any industry jargon that could turn them away. For example, someone wanting to buy a bike will certainly take less time to decide than a business that is planning to purchase a piece of highly-priced software.
The purchasing decisions of B2B prospects are based on their desires. B2C prospects are driven by emotions. Therefore, businesses need to evoke the emotions of B2C prospects and buyers. B2C buyers depend more on their gut feeling when they decide to buy something. As they are not answerable or accountable to anyone, they are independent to take their own decision to purchase. A brand that is able to convey a promising yet rosy story can propel buyers into taking a quick decision!
Displaying Offers and Entertainment
Businesses that wish to target B2C prospects should know that such buyers seek frequent attractive offers and entertainment. Further, the purchasing of B2C buyers is driven by emotions, and unlikely to analyze the Return on Investment (ROI) for themselves. Therefore, businesses need to flood them with more offers and entertainment so that they become loyal to their brand.
The Closing Remarks
As seen above, targeting B2B and B2C prospects is unique. B2B marketers are faced with a shortage of content or the time to create it. B2C marketers have a bigger advertising budget and need to use means to spread their word. However, the ultimate goal of both types is to generate leads, target prospects, and generate sales.