Drew DeMasters
Drew and I connected some time ago when both he and I realized we were both true database marketers or heavily involved with CRM. CRM includes Lead Generation and used to rely on traditional marketing. Over the last few years, that trend has changed to include Inbound Marketing.
In my ongoing series to learn the differences between B2B and B2C, SME, Drew DeMasters offered his thoughts:
B2B (business-to-business) and B2C (business-to-consumer) marketing are actually more similar than most people realize. At their core, both involve making a connection to particular person(s) to meet a specific need.
But consider a few key differences:
1) B2B purchase decisions take much longer often because there are multiple people or teams affected by those decisions.
2) Because that decision-making process is so involved, the lead time or “courtship-phase” is much longer for a business than for a consumer. And it demands the marketer to constantly engage, communicate and try to maintain a dialogue with the prospective business customer. The email service provider is aptly named Constant Contact. That’s exactly what it takes to turn a lead into a prospect and a prospect into a new customer.
3) B2B clients tend to be more loyal and spend a lot more money. Businesses usually have larger needs and more opportunities than consumers.
4) Different dynamics are also involved in B2B marketing. Often there are the decision maker(s), the influencer(s) and the gatekeeper(s). Identifying who these people are and understanding the relationship between them is a critical component of B2B marketing success. Compare that to B2C. There’s usually just one decision maker (you!) and certainly not more than two.
5) B2B purchase decisions are made in a very logical, deliberate way with a strong ROI case to justify them. But for most of us, B2C purchases are more emotional, personal and have a different set of rules that marketers must play by to ultimately make the sale. When you buy something, you don’t have it justify it to investors, bosses, or a board of directors. (Well, maybe to your spouse or partner.) But for the most part you can just decide on your own.
Marketers needs to know that B2B and B2C marketing is similar in many ways, but just different enough that a “one-size-fits-all” type of marketing strategy is sure to fail if it doesn’t meet the specific needs of the prospective client.
© 2010 by Drew DeMasters
All Rights Reserved
About the Author
Drew DeMasters is a landlord, author and award-winning marketing strategist with 15+ years in the rental business. His new book Landlord Marketing Secrets breaks down into actionable steps 11 of the strongest principles in direct marketing like the 80/20 rule, onboarding and trigger-based marketing. Landlords across the country are using his secrets to boost their rental profits. The book is available at www.landlordmarketingsecrets.com He is affiliated with some of the most popular landlord resource sites and publishes articles through Yahoo’s Associated Content network.
Winner of a 2009 Echo Award from the Direct Marketing Association, DeMasters holds an MBA in Marketing from the University of Missouri – Kansas City. He can be reached at ddemasters@landlordmarketingsecrets.com
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