Posted 13.12.2021
It sometimes feels like there is a line drawn between B2B and B2C companies. In marketing particularly, B2B can be seen as the stuffy elder statesman, tied to his true and trusted methods, sourcing leads through established relationships. In contrast, B2C marketers are always moving forward. They embrace new methods, respond to new technology and constantly strive to improve customer experience. As nearly every B2C marketer does this, it’s the only way these companies can stay competitive.
The niche nature and large scale of many B2B offerings might make this level of competitiveness seem unnecessary. Yet there is plenty that B2B marketers can learn from the B2C marketers, to help improve their marketing strategies.
Before discussing the similarities that these two business models share, it may help to touch on the differences between them first.
One big difference is the length of the sales cycle. Many more stakeholders are involved in a B2B sale, compared to the single customer you are usually pitching to in B2C. The multiple stakeholders will need time to make decisions regarding purchases as they relay details between themselves.
To address this, B2B sellers need to build a more engaging buying experience, that features many repeater touchpoints. In turn, this allows B2B companies to build deeper relationships with their customers, which is useful as the relationship between B2B buyers and sellers also tends to be more sustained over a longer period.
Another difference is the rationale that drives purchases.
In B2C customers make decisions based almost entirely on their own. This means they can be a lot more emotional, driven by values or personal preference. With B2B decisions will be a lot more rational. Businesses will weigh up whether a product or service will drive revenue or give them some form of strategic value. They rely on facts and data to make strategic decisions that can be proven to benefit the company.
This means B2B sellers will need a high level of product knowledge and be able to engage and educate their buyers about the benefits of a product.
So those are the differences between the two business models. However, the point of this post is to highlight what business to business companies can learn from each other. To appreciate the scope for sharing methods and approaches, it is also important to understand how may similarities these business models share.
First, they both revolve around solving a client/customer problem. Both B2B and B2C businesses exist because they have identified a need for a service or product and now they are providing it. The job of their sales team is to convince customers that the solution they offer is the best one available.
This means that they both require a customer-focused sales process. They should make the purchasing process as smooth and simple as possible, with the company doing all the work rather than the customers. This also means customers for both business models want an excellent customer experience.
Both sets of customers want support from a company they can trust. Before they make their purchase and after. They want to know their purchase will live up to the expectations they have been given.
Another thing that customers of both B2B and B2C companies share is that they are becoming more knowledgeable and, in turn, more demanding. Their expectations are high, not just of the products or services they are purchasing, but of the service they will receive from the company they purchase from.
All of these various similarities really boil to one big thing that unites both business models (and that you have to remember to be successful at either). Both categories have people at their heart. All of these needs and expectations stem from people
In it’s unlikely that any B2B owner or even B2B marketers read that list of similarities and saw anything they didn’t already know. However, it can be easy to lose sight of how universal the basic rules of sales are.
When you are aware of the commonalities between these two models, it becomes easier to see how much scope there is for B2B marketers to learn from the world of B2C marketing. Here are 5 tips it would be well worth any and all B2B marketers borrowing from the world of B2C companies.
The lower cost of products and higher pool of potential customers means that the accepted spend on customer acquisition is a lot lower with B2C than it is with B2B companies.
On the one hand, this means you only justify expensive marketing campaigns if you expect an equally sizable ROI. On the other hand, small-to-medium B2C businesses make the most of low-cost, high-return marketing solutions. In contrast, most B2B companies rely on sales reps and sales teams to generate leads, follow them up and convert them.
This team approach has definite benefits but it can take away from the human connection, which is a key aspect of B2C marketing and should sit at the heart of B2B marketing too.
You may be pitching to entire companies but these clients are still people. They still have challenges and pain points. Create buyer personas to develop a deeper understanding of their needs and use these to guide your marketing.
We mentioned above that B2B marketing tends to focus more on facts, figures and data than the emotive tones of B2C marketing.
However, this doesn’t have to mean you can only use dry, dense, data-heavy reports to speak to consumers. The information you’re conveying may be concrete, but you can get more creative when delivering your message.
Case studies, blogs, even infographics can contain all the same information in a much easier to read format.
Even videos can be a great way to develop your message in a new accessible way. In 2021, YouTube is the second-largest search engine on the internet – establishing a presence there means that your business can be seen by an even wider audience.
Make sure to provide more than just resources about your own product or service too. Publishing new research or industry insights will demonstrate the authority and expertise of your brand which will reflect onto your product. Combine these with how-to videos, or product introductions and you will create an accessible and engaging set of resources that can help attract new prospects as well as support existing clients.
Social media is becoming increasingly important in the B2B marketing toolkit, but compared to B2C it’s been slow take-up.
B2C companies don’t just use social media for product marketing either. They realise how effective it is in increasing brand awareness and creating authority. These can be overlooked in the B2B world, where a sales team is expected to deliver leads and convince, but having social media on your side means that even when the sales rep goes, that conversion continues.
Of course, social media covers a wide range of channels. Another thing that B2B companies should learn from B2C is how to identify which of their social media accounts deliver the most leads. While some channels, like YouTube, might work across a number of industries, others will only benefit certain companies.
Discover where your audience spends their time, where other businesses with similar interests are pitching, and develop your own brand presence there.
More than simply relying on social media as a way of reaching out to customers, B2C companies often use it as a way to build communities among their market as well.
Social media pages can bring satisfied consumers together to discuss the benefits of your products. They can also answer questions, give tips and offer support to each other Starting your own forum, such as a Reddit, is another way to let your customers respond and engage with each other. It reflects well on your company that people would want to share on this information, provides a useful resource and in general creates a great image that any potential consumer might see.
A similar principle is drawing on influencer marketing. This is not exactly a common technique among B2B marketers yet, but it is growing within the industry. Handled correctly, it is an excellent way to convince consumers of your expertise and the reliability of your product.
If “influencer marketing” doesn’t sound right for your business, maybe think of it as “engaging brand ambassadors instead”. Find people your customers can relate to, or whose opinions they respect. Industry figures, company leaders, anyone who is an example of success within their world. This kind of messaging reflects well on your product, as well as bringing it to new audiences.
This is less of an actionable step, and more of a golden rule to remember. It also encapsulates every other step we’ve mentioned.
With the numbers and timescales involved in B2B, it can be easy to lose sight of the humans at the part of the purchasing process. Businesses may be more discerning consumers who require more concrete reasons to invest in your company over others, but they are still humans.
Every part of the purchase process should focus on the customer. Simplifying the buying experience is a great example.
Once a consumer has made a purchase from a brand such as Amazon, they are immediately included in the delivery process, able to track the status of their order right until it reaches the door. They have instantaneous invoices and receipts even when they don’t have vital records to keep. This might not seem the most relevant example to every B2B company, but it provides a level of transparency, usability and accountability that brings customers back to these companies again and again.
The more people experience this high-level of customer experience, the more they will expect it. B2B will catch up eventually so embrace it now and your company will be at the forefront and enjoy all the benefits that brings.
Evolve Trader offers a personalised B2B sales experience for your customers and clients. Request a demo to find out more about how Evolve Trader can support your B2B ecommerce business.
Image credit: Jason Goodman on Unsplash
