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Why B2B and B2C Sales are Different
Why B2B and B2C Sales are Different
Selling is always about the seller’s relationship with their customer. The nature of that relationship is different depending on what kind of customer we’re talking about, though. Some companies sell to other companies, and others sell directly to consumers. These two types of sales are known respectively as B2B (business to business) and B2C (business to consumer). There are aspects of each that make them similar to each other, but there are also some important distinctions.B2C
Business-to-consumer sales are the kind that almost all of us are most familiar with. The process is simple, and it’s all about the product in question. Relationships are a factor, but the goal of both parties is to get the most value possible out of the single transaction. Repeat business is nice, but it’s not the main goal here, because individual preferences change often. Just because the customer buys an apple today means nothing next week, when they may prefer a pomegranate instead. Because of those shifting preferences, the seller must focus their efforts on a very large market of individuals in order to move enough product to stay in business. Marketing focuses on images and feelings that appeal to individuals who seek intangible benefits. They also must keep the buying process as simple as possible, with clear pricing, to keep the buyer’s attention.B2B
Business-to-business sales are less intuitive. They require far more conscious effort and preparation on the part of sellers, because their customers are not usually a single individual. Business customers are purchasing committees and boards, deeply focused on the rationality of a contract and how it affects the bottom line. Sellers in this market have to carefully cultivate trusting relationships over a much longer period of time in order to close a deal. Stability and consistency are key. These markets are also considerably smaller and far more specialized. Competition is fierce, so the seller who is able to definitively prove that their solution offers the best value, through patient education and relationship-building activities, is the one who wins over their customer.“It’s fascinating how the fundamentals of business-to-business marketing are the same today as they were 50 years ago. It’s still about relationships, although today we have new tools and techniques at our disposal.” (David Meerman Scott)BoomDemand focuses on the nuances of B2B selling strategies. Our team of expert SDRs has mastered the art of cultivating strong relationships between our clients and their potential business customers. Contact us today to give your B2B marketing efforts a BOOM!
5 Tips to Find Success in Your Sales Job
5 Tips to Find Success in Your Sales Job
Working in sales is not for the faint of heart. It takes a particular personality. You have to be someone who feels passionate and driven to success, alongside a good pile of self-confidence. Anyone can develop this kind of personality if they work on it, but not everyone is willing to do what it takes. That’s because almost every sales job consists of long stretches of monotony and lots of rejection, punctuated by exultant moments of triumph. Those moments make the rest worth it, but it’s key to have the right approach to the whole process if you want to reach them. Here Boom Demand presents 5 powerful tips (and 5 awesome quotes by sales master Zig Ziglar) to help anyone in a sales job cultivate and maintain success every day.1: Listen and Observe Before You Speak.
You were made with two ears and two eyes, but only one mouth. There’s a reason for that. Sales is fundamentally about service. You are providing something that you know people need. Rather than going on and on about how great your stuff is, you should make sure that it will actually help the person you’re talking to. How? By listening to them. Let them tell you what their problems are, and watch their body language. They will show you what to say, and when.“Stop selling. Start helping.”
2: Believe Passionately In What You Are Selling.
If you are selling something that you don’t think will actually do any good for the customer, they won’t believe you either. You must understand your product and its capabilities on a fundamental level. You must be willing to use the product yourself. You should, whenever possible, have personal experience with its benefits.“Have an absolute and total belief that what you’re selling is worth more than the price you ask for it.”
3: Trust is Everything.
Your credibility depends on your personal level of honesty and sincerity. Customers hate slimy tactics, misrepresentation, and high pressure. It’s unfortunate that sales has a reputation based on those who used such tactics in the past, so to stand out, be trustworthy. Trust is currency. Trust is a deal closed, and it is repeat business. Never, ever betray your customers’ trust.“The most important persuasion tool you have in your entire arsenal is integrity.”
4: Follow Through.
Don’t let prospects slip through the cracks. Stay organized and keep in touch with everyone. You never know who might give you a referral, nor when. Any prospect who shows interest should be contacted again, and every interaction should end with a mutually agreed-upon next step. Always be moving forward with everybody you serve in your sales job, whether employer or customer.“Take time to be kind and to say thank you.”
5: You Have 960 Minutes.
If you’re getting a healthy amount of sleep each night (you ought to, for top performance), then you have less than a thousand minutes awake each day. You should be acutely aware of that number, and plan your activities in advance to make each and every one of them count, because they are irreplaceable. Use every single minute to move closer and reach your goals.“Lack of direction, not lack of time, is the problem. We all have twenty-four hour days.”
Which Social Media Platform is Best for Your Business?
Which Social Media Platform is Best for Your Business?
Social Media is everywhere, and for marketing, it’s almost everything. So many people use these modern communication systems that any company that doesn’t actively engage their customers through them might as well close up shop. Time is money, too, so it’s important to know how best to direct your posting efforts. Each platform has particular strengths that cater to one type of business or another. Here’s how they match up:B2B: LinkedIn
All social media platforms are networks, but LinkedIn is the platform that is most specifically designed for business networking. There is no easier way to find the best person at a prospective client company to contact regarding your solution. LinkedIn is especially powerful for SaaS companies offering an entirely non-physical service, where the right contacts are key. Example companies that are right at home on LinkedIn include Domo, Salesforce, and most other major international corporations that you want for clients.Retail and E-commerce: Instagram
Instagram was originally designed as a way to share beautiful photography. That makes it especially well-suited to marketing where appearance is key. The platform makes it incredibly easy to show off your retail products in the best light and from all angles, and interact directly with your customers. You can get instant feedback on your designs. Both well-known retail brands like Adidas and smaller sellers like FoxyRedsDesigns can derive the same benefits from the ability to show off their products with photos and videos on Instagram.B2C Services: Facebook
As the reigning king of all Social Media platforms, with over two billion registered users, it pays for almost any company to have at least a minimal presence on Facebook. That said, this platform lends itself to more local and family-oriented engagement. It may even soon beat Google at its own game:“Nearly half of consumers are already using social networks, like Facebook, to discover local businesses through brand pages, the Places feature or recommendations.” (Forbes)Local construction, repair and handyman-type services that work in a limited geographical area can use this structure to great effect. As well, small regional chains and Mom-and-Pop stores do great with Facebook. It’s great for spreading word-of-mouth reviews, and when people ask for local recommendations, these small businesses really shine. Each of these platforms can be useful one way or another for almost any business. To get the maximum benefits from them, consider the expert help we can provide at Boom Demand. Contact us today so we can drive your online presence with a BOOM!
