If you’re involved in the world of sales, then you know it can be a rough business. It’s necessary to find as many different avenues as possible to get your product out there.
Typically, sales are focused on either B2C (business-to-customer) or B2B (business-to-business). In order to truly be successful, you’ve got to diversify and cover as many potential clients as possible. That’s why it’s important not to limit yourself to just one sales avenue.
Let’s take a look at the big differences and similarities between B2B and B2C sales and how your business can improve your sales strategy.
How are B2B and B2C Sales Similar?
At their core, B2B and B2C sales have one major piece in common: they are centered around selling to a specific customer. Whether the customer is an average consumer buying a custom-configured car, or a business shopping for an entire fleet of vehicles, the basics are still the same. If the customer feels valued and supported, they’re likely to come back for more and recommend you to others. To that end, customer service is essential.
Even beyond customer service, both sales types require a strong marketing strategy to be successful. While the details of these strategies may differ wildly for B2C and B2B sales, they both center on getting your message out to the right audience.
What is the Difference Between B2B and B2C Sales?
There are plenty of differences between these two markets. Some of the less obvious ones are:
- B2C has a much larger base of potential customers. While you may have millions of potential customers in your field, the number of businesses that you may be able to work with is much smaller.
- The B2B sales process or sales funnel is usually much longer than B2C. With a B2C client, the customer is the sole decision-maker when it comes to buying the product. But with a B2B client, you may have to wait for a dozen people to sign-off on whether or not to buy your product before an order is placed.
- B2B sales are less emotional. When it comes to marketing your product, a B2C client is more likely to be emotional and subject to buying products on a whim or the spur of the moment. But B2B clients will be much more logical and looking at making informed business decisions.
- B2B customers aren’t going to be looking at basic customized products. More often than not, they’ll need more specific help with the technical side of your product.
Why Is a B2B Sales Process Important?
One of the main reasons to add a B2B sales process to your company is that these sales are usually much larger than B2C sales. While the buying process may be longer, a B2B customer is not likely to purchase just one or two small items like B2C customers will.
Instead, you’re more likely to sell large quantities of products with a B2B client. Additionally, you have a greater opportunity to reach out to B2B customers to make repeat purchases.
For instance, if you sell a fleet of custom-configured tractors, you know that after a while, you can reach out to them for reorders to replacement parts. This can create a strong sales avenue even when new customer sales might be slower.
How Will You Improve Your B2B Sales Strategy Today?
If you’re interested in improving your B2B sales strategy, here’s a simple roadmap:
- Put an emphasis on customer service and the value proposition of your product. B2B customers are more likely to work with a company if they know they can count on the customer service and that the value of the product is worth the money.
- Change your marketing style. Many businesses are being inundated by emails and newsletters that are claiming their company is the best. You have to make your business stand out from the rest. Look for creative outlets to get the attention of your customers. You could achieve this by embracing video marketing, or by sponsoring a podcast relevant to your industry.
- Streamline your configuration process. Another way to improve your sales strategy is to make your customized products easier to configure. Using a 3D visual configurator, a client can see exactly how their product will look with their specifications. Many clients today are not interested in “one-size-fits-all” products, but instead, want something specific to their needs.
Increasing sales is always important. If you’re currently selling to only businesses or to single customers, now is the time to add to your customer base. Providing your company stable growth through steady sales is what every CFO is looking for.