Top 5 things to know about B2M Marketing
Knowledge Base | By: Ruchi Shah
In the earlier articles, we understood what B2B and B2C mean. In this write-up, Jewelxy explains the unusual yet important term B2M.
1. B2M is a marketing term
Business-to-Many or B2M describes individuals or groups with whom a business interacts. Unlike B2B firms that interact with other businesses or B2C firms that interact with the customer, B2M firms engage with both businesses and customers.
2. B2M has a defined Target Audience
B2M does not mean that they carry out their commercial transactions with everyone. They too have a specific and defined target audience.
3. B2C, B2B and B2M are not always used for E-commerce
B2B and B2C terms are widely used in E-commerce activities. However, this does not mean that they are exclusively used for the digital sphere. B2B, B2C and B2M marketing and interactions also happen in the day to day transactions in the real world as well.
4. B2M companies are liked by investors
B2M companies have a fairly larger target audience which gets them a better opportunity for receiving exposure and funding. B2B customers are loyal, B2C have a bigger pool of buyers while B2M have the best of both worlds. It is easier to create their brand awareness through various marketing platforms and establish themselves.
5. B2M companies have diverse business marketing strategy
The strategy for a B2M company is more diversified compared to B2B and B2C models. It can get tricky for B2M companies to satisfy both target audiences resulting in increasing costs.
Book publishers, Telecommunications, Businesses in the Gems and Jewellery industry etc. are some popular examples of B2M marketing.