Identifying Key Differences that Impact B2C and B2B Lead Generation
Lead generation is an integral part of the digital marketing strategy for both B2B and B2C companies. But the exact approach to generating quality leads varies greatly between these two industries.
Consistently creating quality leads in the B2B sector tends to be more challenging overall. That is why many B2B businesses turn to lead gen digital marketing firms to strengthen their ability to draw in prospective clients.
With that said, not all lead gen digital marketing agencies are suited to handle the unique demands of B2B client acquisitions.
If you want to ensure that you choose the right partner for your long-term goals, then you must first understand the core differences between B2B and B2C lead generation.
Length of Sales Cycle
When you’re comparing B2B and B2C sales, you’ll find that one of the most distinct differences is the average length of the sales cycle. B2C sales cycles can be completed in a matter of minutes, whereas B2B sales take a lot more time.
Generally, larger B2B purchases require a longer sales cycle while smaller transactions can be completed more rapidly. According to SAASMetrics, B2B deals that are approximately $5,000 ACV should close in about 30 days, while transactions totaling $25,000+ can take 90 days or more.
When a business is making a large purchase from your B2B organization, they must often have the deal approved by multiple staff members. This increased average sales cycle means that you must have a continuous stream of quality leads coming in year round.
Unlike B2C companies, you cannot rely on flash sales or similar tactics to give your revenue a quick boost.
Another core difference between B2C and B2B is the type of audience that you are targeting. While general consumer products certainly have a niche market, these customer bases are much more flexible. Fringe buyers can be incentivized to purchase products with a clever advertising campaign or seasonal sale.
On the other hand, B2B organizations must specifically target a clearly defined audience. Your lead gen marketing service provider should understand this fact. Otherwise, they are likely to route leads to your business that have little chance of converting into paying customers.
Content Composition and Style
Due to the nature of B2B sales, these clients are not in the position to make spur-of-the-moment purchases. In response to this, you have to tailor your content accordingly.
B2B marketing campaigns must be designed to guide prospective clients down the sales funnel slowly. Your campaign should feature informative content that addresses leads that are at different points along the sales funnel.
Social Media Platforms
When you’re tasked with generating leads for B2B, the social media platforms that you will leverage should change also.
The top platforms for consumer marketing include Facebook, Instagram, and Twitter. The layout and function of these platforms make them uniquely suited for connecting with consumers. However, not all of these options are a good fit for B2B lead generation.
The exception to the rule is Facebook. This platform is consistently effective in producing results for both B2B and B2C companies — when it is paired with quality marketing content, of course.
In addition to Facebook, B2B companies should make sure that they are active on LinkedIn. This channel is ideal for connecting with high-level professionals that can make purchasing decisions for their organizations.
Our last core difference is the overall pricing model. While pricing is an important factor for both B2B and B2C lead generation, line-level consumers tend to place a higher emphasis on this detail.
B2B companies are often willing to spend a little more if the products or services meet the needs of their organization.
However, B2B clients still have a budget to adhere to. If your products or services are pricier than some of your competitors, then your advertising content had better explain why.
A good lead generation company should emphasize traits like the reliability and quality of your product lineup in order to intrigue prospective clients.
When you are searching for professional lead gen digital marketing services, make sure that your prospective partner understands the needs of B2B businesses. Ask plenty of questions so that you can find the right firm to help you grow your brand!