What Is The Difference Between B2B And B2C Marketing?
The main difference between B2B and B2C marketing is their intended customers. B2B sells to businesses that resell the products, while B2C consumer data sells directly to the end individual.
Understanding B2B Companies
Business-to-business (B2B), also called B-to-B, involves business conducted between companies rather than between a company and individual consumers. This and many other marketing acronyms are described further in our digital marketing abbreviations insights.
The most straightforward short-term measurement is to look at conversion rate sales generated as a direct result of a particular campaign. For example, how many units did I sell, and at what profit, after deducting the campaign cost?
Which Industries Cover B2B Companies?
B2B companies operate in many industries, such as:
B2B and B2C marketing differ significantly. At Business Data Prospects, we specialise exclusively in furnishing data for B2B marketing efforts. Our focused expertise enable us to deliver solutions tailored to business-to-business marketing.
Five Questions To Ask A Company
Do you consider asking questions when thinking about your content strategies?
What do they need?
Who are the decision makers?
Can they afford your product or service?
What other solutions are they considering?
Are they ready to take the next step, such as having another meeting, attending a product demo, signing up for a trial, etc.?
Seven Latest Developments In B2B Companies
B2B business development is all about probing your business operations and identifying areas of improvement. As a result, you can leverage what is working great while improving the underperforming areas of your b2b database.
Here Are The Seven Latest B2B Marketing Developments;
Security and privacy.
Real time customer service.
Sales and direct marketing alignment.
Data-driven decision making.
Companies And ROI – Return On Investment Is King
Think about these five criteria:
Number of pieces you are mailing or emailing.
Total programme costs.
Response Rate: % of responses expected.
Conversion Rate: % of responders expected to make purchases.
Average profit per sale.
From this you can calculate:
Number of responders.
Cost of campaign per response.
Number of buyers.
Cost of campaign per buyer.
Cost of campaign per mailing/emailing piece.
Total profit from the campaign in monetary terms.
Ask us for details, and we can help you calculate these numbers from your initial business data.
You can use these metric for both B2B and B2C Marketing.
Measuring Response Rates As Well As Conversion Rates.
Response rates are important to factor in as part of your judgement on the success of a campaign, as they show you the level of engagement and interest in your campaign, even if a sale (on this occasion…) didn’t occur.
Response rates are something you can build on with future campaigns, perhaps tweaking and varying your offer. Responses can be creating more long term benefits than the immediate kick of a sale:
Awareness Of Your Business/Brand/Services
Initial interest which may lead to a sale on the second or third email/mail: most people don’t buy on first contact.
Click through rates offer a pathway to discover more about your products/services, extending beyond those possibly highlighted in the B2B agency campaign. Depending on your campaign message, there emerges the possibility to dispatch a sample product, a gift, a business report, or additional information, thereby facilitating engagement. Once they’ve interacted with you, there’s the opportunity to acquire their complete contact details, enabling subsequent follow up by phone. With an appropriate approach to this follow up, these ‘responses’ hold the potential to yield a significant conversion rate.
RAR Top 10 Fastest Growing Agencies
BDP feature in the Top 100 Agencies
It’s too easy to make all sorts of claims about how good your business is. However, it’s harder to be recommended by clients. Although it is much more rewarding. And of course, a recommendation can be the key decider when choosing a supplier, right from a plumber your neighbour has used through to a key supplier for your business. This applies to us, with our top B2B data lists.
That recommendation carries even more weight if it’s part of an independent recommendation programme in your industry. For example, it could be argued that the marketing services industry needs more independent verification than most. As its practitioners are skilled at publicity. Therefore, skilled at self-publicity as well.
Top Companies List
Therefore, we are thrilled that our agency, Business Data Prospects, features in the top 100 RAR agencies, as chosen by the Recommended Agency Register, RAR.
Instead of believing what we say about our service, RAR asked a broad cross-section of our clients what they think about us across seven key criteria. Ranging from creativity and innovation to whether we complete work on time and within budget.
This client feedback was overlaid with an assessment of our business. Which looked at aspects such as our resources and key staff. As well as our sector experience, the state of our finances and our level of growth.
Marketing and media magazine The Drum, in conjunction with RAR, has published this top 100 list; consequently, we are delighted to appear on this list as this is out of thousands of agencies across the UK… Moreover, we’re one of the top 10 fastest growing marketing agencies in the whole of the UK.
So, look at this list. Perhaps even add it to your selection process when choosing an agency to work with. And maybe investigate what verification schemes exist in YOUR industry. Therefore, Allowing people to benchmark your business against your competitors. Of course, it requires supreme confidence in the quality of your own business to subject yourself to this level of evaluation. But you’ve got that, haven’t you?
How Can We Help Your Business Expand Its B2B Marketing?
We have a large range of business data to offer, whilst we do not supply consumer data at all, we help you expand your companies marketing reach and achieve incredible marketing campaigns. BDP Agency can also help expand your international marketing lists with our BDP universe.
And finally, If you have any questions or want to enquire, please contact us by calling the number above or filling out our contact form to request a call back.