Just like how humans need oxygen to live, businesses – whether offline or online – need quality leads to keep them going. If your marketing efforts are not attracting leads, it can contribute to your business’s downward spiral. If this is the case, you may want to change something in your marketing tactics and strategies.
B2B Lead generation is not only limited to acquiring potential audiences and customers for your business. It is also involved in a brand’s effort in increasing visibility, trust, traffic, and credibility for a brand. The more effective a lead generation tactic is, the more high-quality prospect a brand receives.
B2B businesses are businesses that sell products or services to other businesses. This can include anything from office supplies to software to manufacturing equipment. B2B businesses typically have longer sales cycles than B2C businesses, as they often need to build relationships with potential customers before closing a deal.
There are a few key things that make B2B businesses different from B2C businesses:
They typically sell to other businesses, rather than directly to consumers. They usually have longer sales cycles, as they need to build relationships with potential customers before closing a deal. They often sell more expensive products or services than B2C businesses. Their customers are usually more loyal, as they are less likely to switch to a competitor.
Customer relationship management is the process and
tools through which your company grows and maintains a long-term relationship
with its clients and customers. Since it is a process and there are several
tools on the market, it’s important to craft an intentional CRM strategy,
taking into account your unique business needs. Moreover, creating a CRM
strategy should be a cross-functional endeavor that involves IT in the
How to Choose CRM Software
B2B vs B2C
CRM in B2B vs. B2C are both complex in their own ways.
In a B2B setting, you’re juggling multiple stakeholders, and it takes time and
savvy to know whom to contact. In fact, the purchasing group at any given
company contains an average of 6-10 people, according to Gartner. Given that
there are often multiple people to please and convince, the length of time for
tracking, negotiating, and finalizing contracts in B2B is also longer than CRM
processes in the B2C environment.
The purchasing group at any given company contains an
average of 6-10 people.
At the same time, B2C has its own level of complexity.
For starters, B2C sales are often repetitive and cyclical, so analytics that
provide detailed insights into consumer purchasing patterns will be a key
feature to seek in CRM software. There are far more customers in this selling
environment, making lead management essential in your CRM software of choice.
Whether you do business in a B2B or B2C setting,
you’ll want to focus on CRM software that can handle the level of intricacy
unique to your selling environment.
When the COVID-19 pandemic pushed
B2B and B2C commerce online, customer relationship management software became
an indispensable tool.
CRM products were once complex,
monolithic systems and have evolved to accommodate changing work habits and IT
strategies. CRM technology trends illustrate the importance of CRM strategies
and careful evaluation of the software. However, the divided market between
software and cloud services complicates how organizations choose the right CRM
software. Sprawling feature sets and vertical bundles tailored to specific
industries also increase these challenges.
CRM buyers should follow these
steps as they shop for CRM software or cloud services.
1. Identify needs and priorities
Organizations can break down
product evaluation into three major categories, each with multiple elements:
technology and features, vision and roadmap, and deployment and purchasing
models. Some criteria may conflict, so organizations should weigh it all to
account for requirements and constraints.
Evaluations must start with
identifying needs, including the following:
overall business processes and how
customer outreach fits within them;
customer buying and communication
preferences, with input from marketing teams;
sales teams’ processes, pipelines
the importance of sales force and
marketing automation to achieve business goals and how organizations document
and standardize processes for programmatic execution;
how customer service fits into the
organization, requirements of customer service representatives and how customer
service and support integrate with other business processes;
If you are sci-fi film buff, Charlton Heston’s desperate plea, “Soylent Green is people!” from the classic movie (it’s dark, overwrought and partially in fun) is something today’s marketers should note. Your return on investment is dependent on people because people are essential to the modern B2B marketing strategy that actually drives real ROI.
I’m launching this thread because of a combination of client observations, conversations I’ve been having with rising stars, developments in AI and recent announcements from certain tech companies regarding their own learnings about marketing’s impact on earnings and business health. It’s become clear to me that personnel challenges remain a basic, stubborn impediment still keeping many companies from making substantive, scalable marketing progress. There are two core elements at issue:
Just as they have been with most things digital, B2C marketers are ahead of their B2B counterparts in adopting the latest social marketing trends. While our B2C friends have been leveraging social media stories since they originated on Snapchat several years ago, it’s taking the B2B world a little longer to figure out where they fit in the digital marketing mix.
Why should B2B Marketers Care?
Social stories are the newest way social platforms are trying to engage their users- and they’re working. Research shows that social media stories are growing at a faster pace than newsfeeds and offer a new way for marketers to advertise. As businesses try to personalize their brands, marketing via social channels is more important than ever. The new story formats allow the brand message to be told in a logical, linear pattern, rather than having it split across newsfeeds.
In 2017, is there still such a big difference between B2C and B2B marketing? We asked experts of both sides of the fence to weigh in on their approaches to communicating with customers, promoting products and moving prospects through the sales cycle.
B2B and B2C marketers are driven by different factors. “B2C and B2B marketing have similar goals but we’re communicating to two very distinct audiences,” says Tabara N’Diaye, sales and marketing manager, Cocktails in The City. “B2C marketing is more emotional and focuses on the benefits of the product whereas B2B marketing is more logical and focuses on the knowledge and return on investment.”
The length of the B2B sales cycle is also challenging, as multiple touchpoints can make it tricky to determine the impact of different campaign components.
Ryan Gould, vice president of strategy and marketing services at Elevation Marketing, feels companies should view marketing as a capital expense and not as an operating expense. “When done right, marketing has a direct and lasting impact on an organization. Unfortunately, we often see companies take marketing too lightly.”
B2B marketing should focus not only on lead gen but building connections with prospects. “It is critical to look at the infrastructure, programs and activities that are directly responsible for developing these business assets as an investment,” adds Gould.
Sales goals are more obvious in B2C than in B2B, and it is more challenging for B2B marketers to set KPIs. “Many great marketers and professionals fall into paralysis by analysis by focusing on lower level priorities and metrics,” notes Gould. “Top-level alignment of metrics to goals is critical in keeping all eyes on the prize and establishing how success will be measured globally.’
“The lines between B2C and B2B are definitely blurred nowadays,” feels N’Diaye. “Quantitive and qualitative data are invaluable when targeting both audiences.”
But do marketers really know why an audience buys? “As a B2C buying decision is more emotional towards the product, understanding lifestyle and market segmentation to really target your message is key,” adds N’Diaye. “We spend quite a lot of time trying to understand our audience and create a profile so all our content is bespoke and something they are effectively going to engage with.”
With over 20 years of business, sales, and consulting experience SMS is capable of serving many market sectors. We provide the field level support needed to generate results and grow your business. Other companies may provide appointment setting services; whereas SMS will partner with you to grow revenue.