How Are B2B Customers Different from Their B2C Counterparts?
Four Key Characteristics That Differentiate B2B Customers from Their B2C Peers
Seven Steps to Targeting Your Company’s Niche Market
Looking at the business scape, and the market scape, you could probably figure out pretty quickly that not everyone out there is your market. If you aren’t a market leader, such as Wal-Mart or Target, you probably don’t have much control over who that market is. The reality is that despite our best efforts, most of the time, our markets will choose us – including what we provide, how we offer it, the price they will pay for it and how they get it.
If you compare your business to a vehicle, you’ll note that there are vehicles that are meant for speed, others that are meant for touring, others, still, that are meant for off-road experiences. The models are created to meet the purchaser’s expectations at a price, level of service and expectation that meets the expectations of the desired consumers.
This makes it vital, as business owners, to learn about the companies and individuals who are purchasing from us. As business leaders, we cannot afford to simply take the crowd sourced perspective on how to identify and reach our target markets. It is a combination of information that you, as the business leader, are probably in the best position to pursue, just like the business leader, in young companies, is the best person to cast the vision for where the company is going. While companies like my own might help to clarify and organize the information, if it is not the business leaders’ vision, it is typically not as successful as it could be.
While there are a number of ways to identify and connect with your target audience, here are a number of tools that you can use that will help:
If you evaluate your offerings and make your way through this process and make the necessary adjustments in your offering to identify with your audience, you will find that your business development activities are much more successful. You will find that you are “appropriately dressed for the right party,” versus trying to be everything to every one. As Bill Cosby once said, “I don’t know the key to success, but the key to failure is trying to please everybody.” Rather, focus on being extraordinary to those in your target audience.
Aepiphanni Business Consulting: The Business Strategy People is an Atlanta, Georgia based Operations Management and Business Strategy Consulting Firm dedicated to serving the needs of small to medium sized business leaders. We help business leaders DESIGN| CREATE | BUILD extraordinary businesses. We support our clients with financial management, product and service production and delivery, outsourced services management, sales & marketing and business growth. We provide them with a number of flexible solutions to help them reach their goals.
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Four Key Characteristics That Differentiate B2B Customers from Their B2C Peers
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