When it comes to generating leads the type of customer that you have will be a big influencer. From this we mean if you work in a B2C market or B2B. Both do have many similarities but also many differences on how you can generate leads. In this article we look at the differences between B2B and B2C Lead Generation.
What is B2B and B2C?
B2B stands for business to business. This is where a company will sell their products and services to other businesses. B2C stands for Business to Customer. A customer will be someone not affiliated with a specific business, this could be selling insurance or mortgage products. Both have many similarities, but also when it comes to generating leads there are many other avenues you will need to explore.
What Are The Differences?
When utilsiing lead generation methods for both B2C and B2B, they will be similar. However, the process may change slightly depending on who you are trying to approach. These differences include the following:-
Sales Cycle Length
Most businesses that enter into contracts for services will be larger and take longer. This therefore means that the resources dedicated to these purchases in the B2B are larger, and will take slightly more time to be ‘signed off’.
In the B2C world this tends to be the other way round. Many sales processes seem transactional and tend to be for much less money. This helps to make the process shorter, and somewhat easier to complete.
There are some unique differences in the content that you need to produce in order to attract specific types of audience. When it comes to B2B your target audience is business owners, or those in key decision maker roles. Therefore your content will need to be informative and worded correctly. This will sometimes mean needing to have a more corporate feel.
In B2C however, the content you produce also needs to be engaging but can be less formal. This is where the use of video and also infographics can be very beneficial. Being able to engage your readers effectively, and actively engage them to leave details with you is very important.
Knowing who your audience is, is very important no matter what area you are working in. If your customers fall into B2C offering, you will find that the scope of the audience is much broader. Those that make a great B2C lead generation plan grab a customer attention amidst noise from their various competitors.
On the other hand B2B will cater for a narrower market, which is usually the business owner or the companies decision makers. The goal with this type of audience is to make sure that your products and services are on the radar when they come to make a purchase. This is achieved via effective marketing and product promotion.
The Use Of Social Media
Social media is one of the greatest outlets when it comes to building a lead generation strategy. This is due to the amount of users on various platforms. What has developed over a period of time are also what platforms are more specific for B2B or B2C.
In B2B the best social platform to utilise is LinkedIn. LinkedIn helps to directly see and approach those within decision maker positions, or even business owners. Being able to build connections that are valuable to your business of unique lead generation opportunities.
However, with B2C there are a multitude of social platforms which can be beneficial. Instagram, Facebook, Twitter and even LinkedIn can help those needing to attract specific customers. B2C marketers will regularly use these outlets to promote content, or even engage with customers about products and services.
How Products Are Sold
When it comes to selling your products there are some differences between B2B and B2C. Most B2B sales will be conducted through long standing relatiobnships. These types of sales usually happen with people they know personally and or have worked with previously in who they trust.
B2C on the other hand is more about perception and quality. Most customers do not know the individuals who they buy from so they work on the basis of reputation. That is why the focus for B2C Businesses should be building that quality driven perception in their market space.
The differences between B2B and B2C lead generation is clear to see and how you conduct this process is going to determine success. Understanding your audience is key and should be of importance when you build any form of strategy.
Take a look at our Knowledge Hub for more marketing related content.