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What Makes Entrepreneurs Tick?
B2B or B2C – same principles but different skills
There is a game you can play imagining you have £30k to buy a BMW 3 Series. Go on-line as if you are buying a car for yourself. The site is beautifully designed the imagery is great and I’m back 20 years ago being one of the first on my generation in business to sweep around in something other than a Sierra or Vauxhall Cavalier! The trick in the game now is to click through the Fleet management screen and you will find alongside the same imagery very different information. Rational stuff about CO2 outputs, depreciation, whole life servicing costs. Not the sort of stuff that encouraged me to sweep around in my youth, rather the essential needs of the Fleet Manager to support the rational decision for this marque and model over another.
I spent part of last week with an NHS management group. The pervasive culture amongst these groups is process driven and ordered. All good traits for the rational mind but not enough for the emotional engagement we were seeking
There are a number of key differences and lessons for B2B marketers to learn about from Consumer marketing
- Buying decisions can be erratic and emotional rather than rational. Understand how consumers see your product and how they might use it. This will determine how you present your offer and which aspects you communicate. Where should it be merchandised who are the competitors and remember, retail prices are completely transparent
- Retailers will be doing some of your work and want paying for it - supply chains can be complex with working capital demands high and forecasting difficult due to erratic buying patterns
- Change your mind-set or the vagaries of consumer buying patterns will irritate and wrong-foot you. Keep your business simple but never underestimate consumers understanding of their markets
David Clayton-Smith