Sales is sales, be it B2B or B2C. However, it is important to know that B2B and B2C sales strategies are not alike. The strategies used in B2B cannot be used in a B2C business set up. Mixing both up would waste a lot of money and time. Therefore, it is very important for everyone to understand the key differences between B2B and B2C. Here are a few points of difference:
- One of the most important B2B sales strategies includes mercurial usage of the marketing content. In B2B sales, the involvement of a sales team is impeccable. The audience of a B2B expects to be helped endlessly by the sales team. A lot of thought processing activities go behind a single sale. They usually want to know whether the product would be able to solve the problem. Supplementary content is thus, aimed at reducing the doubts of the buyer. Hence, the content of your marketing plays a major role in a B2B sale. On the other hand, a B2C sale can easily be driven by social media activities which are humorous, shareable and useful.
- B2B sales strategies include targeting accounts, undergoing proper research, having a sales process and building a long-term relationship with clients. B2B sales involve long-term planning and usually has a lot of people involved in the decision making process. On the other hand a B2C sales strategy is more about using the traditional approach. You let the sale happen either due to a good sales team or by letting the customer’s emotional requirement take over at the point of sale.
- One of the most important things to be kept in mind is that a B2C has a shorter sales cycle. Most of the times it involves impulsive buying on the part of the customer, hence as a selling organization, lesser amount of work is required. When the same is compared with a B2B sale, it is quite opposite. It involves longer sales cycle, complex sales process, and stellar value propositions to pull the clients from your competitors towards you.
- In a B2C sale, the power of making a decision often lies with one person. Emotions play a big role in decision making. Very often, as said earlier, a B2C selling happens due to the immediate need or want of the customer. It is more or less an emotional purchase. Hence, your marketing strategies should be aimed at attending the customers’ emotional needs and desires. On the other hand, a B2B sales strategy is planned, calculated and long-term. The decision making authority often lies with a group of people who decide on the requirement of the product or service. For this reason, a proper guidance is required of the salesperson.
- More often than not a B2C sale would have a lower price point when compared to a B2B sale. It has more to do with the buying capacity of the buyer. A B2C sale as everyone knows mostly caters to a single person whereas a B2B sale is to a firm. More often than not, the prices are lower for a B2C sale.
- The buyer’s motivation differs hugely in a B2B sale when compared to B2C. In a B2B sales strategy, the major intention of the seller should be to prove ROI for the client. If the buyer finds it less effective, you may be at the risk of losing out on a good deal. On the other hand, the major concern of a B2C salesperson should be to convert leads. Since it is emotional and impulsive, a lot depends on the presentation skills of the seller and how convincing the selling skills of the seller are.
- One of the major differences between a B2B and a B2C sales strategy is that the former is a relationship building and the latter is the kind of one where an interaction happens only once. One has to note that retail purchase is done without any prior contact or for that matter, any sort of relationship between the customer and the sales person. Hence, the conversation between the buyer and the salesperson is just for that particular point in time which is not carried to the future. On the other hand a B2B sales process is circled around relationship building and trust. More often than not, if the salesperson is able to be a solution provider, one that can be relied, the prospect will convert.
As explained earlier, the skill set required in a B2B sale varies when compared to a B2C sale. Many a times, few organizations mix up B2B and B2C strategies that lead to long-term problems. Hence, it is very important to understand the difference between the two strategies and use them in an effective way. Really internalizing this difference is vital for developing a successful B2C or B2B marketing strategies. After all, proper planning and executing them is the key to success.