When you get fully into the world of business marketing, it can seem like the alphabet is being thrown at you. B2B, B2C, USP and all of the other combinations of letters aren’t meant to confuse, but instead offer you insight into what you could be doing to increase your revenue. Taking note of the terminology is just one way to expand knowledge on what you are doing and on what could be done. Especially in emails, meetings and when keeping in touch with suppliers, learning the basics can get you up to speed with so much more than you’d initially think. Understanding what they’re about and how to make the most of them is essential in propelling yourself forward in the business world.
Business to business relations and transactions take place when you are wanting to use something that another business can provide to help aid what you are doing. A good example of this would be if you were running a restaurant and using a wholesale food market to order your goods – and then if you were wanting to deliver your food to other businesses during their lunch hour. Keeping good B2B relations is essential in terms of marketing your business. You are able to buy curated B2B lead lists online to help you to reach out to those who you think could help you to expand. This can either be by you offering your services to them or vice verse – it really doesn’t matter which way you go, as long as you know that it is profitable for your company to do. Keeping the process simple, streamlined and effective helps the both of you out; beat around the bush too much and you could lose a sale or an important contract.
Business to consumer relations are the most vital when you are running your own company. It is word of mouth, as well as ensuring a stable reputation, that you need. There are so many practices and vital ways of getting your products across to the consumer in the right way; dependent on what type of company that you’ve got running, there are different means to selling yourself. Whereas B2B marketing is all about explaining exactly what you’ve got on offer and how it can benefit their business in a variety of ways, B2C marketing is all about how it can help the consumer right there, right now.
Essentially, what all businesses need is a unique selling point/proposition. In terms of marketing, this is what your potential clients will be looking for both B2B and B2C. In a world full of businesses vying for the top spot, you need to stand out in an extremely busy crowd. If you are unable to figure out what your USP is, do some standard market research of surveys/interviews with those who have already bought from your business or hire an analyst to either create one or guide you towards what your standout feature might be.