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How is B2B different from B2C Lead Generation?
When we talk about the marketing world, business and customers come to our minds. Thus, the market is divided into two major sectors on the basis of consumer and supplier of the chain. When one business company provides services to another, it is a B2B marketing strategy. What we don’t know is that businesses can be customers too. So when the latter B is swapped with a C, customers become the end users and the process converts into B2C lead generation. Business-to-Business marketing companies extend their hands towards other organizations for different commercial transactions such as:
1. Manufacturing products
2. Operational purposes
3. Resale of products
4. Marketing solutions
On the other hand, B2C companies are particularly dedicated to individual clients. They provide more direct and personal services to their customers such as:
1. Software and electronics
2. Bank and insurance
3. Mobile and DTH
4. Food, car, drugs and similar services
Since there are too many similarities among the two, some of you may believe that the only variation is that of scale. Unlike the past, today, the methodologies to deal with a variety of schemes are unique and are based on their nature and goals. Before specifying any marketing plan, it is necessary to understand the key differences. In order to build a stronger platform, let us have a closer look at the points of contrast:
Different objectives and tactics
1. B2B deals are primarily driven by the goal of developing a personal relationship with the customers. They focus on effective ways to create customer engagement.
2. Unbeatable B2C lead generation aims at attracting customer attention in the competitive market. Its main focus is on building a better brand name.
Span of sales cycle
1. B2B takes much longer to encompass all the activities from deal initiation to closure.
2. B2C companies have a comparatively shorter sales cycle and transaction process.
Time and resource investment
1. B2B organizations utilize large investments in terms of time, money and resources.
2. With a smaller business scope, B2C firms invest lesser resources, time and expenditure.
Relationship with leads
1. B2B has target-specific leads. It has a one-on-one relationship with its consumers. There is a sales team for training customers about the how the business works.
2. B2C enforces no such sales team or group of trainers to support individual leads. Its customers deal with the only amount of knowledge they hold.
1. B2B concerns with au-fait customers who are involved in deep research and require more precise content to push them along the sales funnel.
2. B2C tackles less acknowledged set of buyers. These end users do not have a rational thinking for reasoning.
1. B2B offers more detailed content to its customers such as free case studies, e-books, infographics, online videos and white papers to educate them.
2. B2C involves in promotions through social media, schemes and discounts on products, personal communication methods to generate interest and create awareness.
1. In the B2B world, every important decision is taken by the top management committee. A large number of people are responsible for influencing the steps to be taken.
2. In B2C, demographics are important and the consumer is the chief decision-maker for buying a product.
Sell and purchase approach
1. B2B companies sell products on quality and price perception. There is no personal attachment to the buyer. Therefore, an unlikely impulse purchase occurs.
2. In B2C marketing, a product is usually sold on an emotional-front and trust. Meta-sourcing is one such example of B2C marketing where companies seek business support from family and friends.
Level of professionalism
1. B2B meetings are highly professional. Managers hold conferences and presentations to discuss the business plans.
2. B2C agents make unsolicited calls to the customers that sometimes seem unprofessional and invading their privacy.
Value of products and services
1. Price of the products and services offered by B2B is generally high as it includes convincing the client to agree to certain terms and conditions
2. B2C gives cheaper goods to its customers as the deal closes after negotiation and persuasion according to the buyer’s will.
Based on the analysis of above-mentioned points, we can draw definite conclusions. Both B2B and B2C lead generation companies follow unique sales processes and a well-defined strategy to acquire customers. But, the methodologies involved in customer-dealing process and the overall plan layout is different. Hence, before laying the foundation of any of the two, a quick look at the differences is a must.
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