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Insurance can be sold to both consumer markets and businesses. B2B (business to business) marketing has different challenges and expectations than B2C (business to consumer) marketing. However, there are also some similarities—particularly in insurance, which is a complex product even for consumers.

Here’s a look at the different tactics and mindsets to keep in mind.

Emotion vs. logic

The common wisdom is that B2C marketing tends to be more emotion-driven than B2B marketing. Consumers are more likely to make quick decisions based on the feelings brought up in an ad campaign.

To an extent, that’s true with B2C marketing for insurance as well. Consumers are emotion-driven, and want the process to be quick and seamless. But buying insurance can be complex for consumers as well. It’s important to make the decision-making process as easy and simple as possible.

Business buyers, on the other hand, are faced with more complex challenges, and they tend to be more deliberate and logic-driven. A business buyer is much more likely to read a white paper on insurance, for example, than a consumer buyer.

However, emotions can run high for business buyers as well. Purchasing decisions for insurance can be quite high stakes, and fear of the consequences of making a wrong decision can be high. It’s important to make a reassuring, expert, and dependable impression.

Importance of price

Consumers tend to want to simplify the process of insurance buying. Since purchasing insurance can be quite complex even for consumers, many tend to boil their decision down to price—whether this is advisable or not.

They will want to see quickly if your premiums will save them money, and compare prices from different companies at a glance. That’s why instant quote tools are so important on insurance websites.

B2B customers tend to be less driven by price, and may even be turned off by the lowest-price option. It’s more important for them to know that they’re getting the coverage that will meet very complex and specific needs.

Buying cycles

With consumers, the buying cycle is relatively quick. Consumers generally don’t want to spend a lot of time comparing the specifics of different insurance plans. They want to make a quick, seamless decision. There is generally only one person to convince—or two, if the prospect has a spouse.

With B2B customers, there are often multiple people to convince with your marketing materials. The financial officer, the CEO, and other stakeholders within the business may all have different priorities, and may have a say in deciding. You’ll need to be able to speak to all of them.

Marketing to businesses can be quite different than marketing to consumers. It’s important to know the difference between the two markets, and how to effectively speak to each type of prospect. With these tips, you should be able to strengthen your marketing.