Data-driven insights. Opens in a new windowData from digital platforms can help you zero in on your potential customers’ behaviors, preferences, and pain points quickly and accurately so you can offer relevant solutions.
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B2B (business-to-business) and B2C (business-to-consumer) both use digital sales channels. However, they have vastly different sales processes. Let’s look at the key differences:
B2B sales
B2B companies sell to other businesses — industries needing raw materials, manufactured goods, software, or other products to run their businesses. For example, Salesforce is a B2B company that sells its products and services to help businesses manage customer relationships.
B2B sales target large groups of decision-makers (upwards of 10-14 peopleOpens in a new window) who make purchase decisions for high-priced products or services that typically affect the entire organization. This not only raises the stakes for both the buyer and the seller, but it also requires customized solutions based on the business’s needs. By the same token, it means you’ll have a much longer and more complex sales process than in B2C.
Given these characteristics of B2B sales, digital channels are used for america phone number list early-stage communication (prospecting), but are less frequently used towards the end of the sales process when in-person meetings better serve to negotiate the complex details of a sale.
B2C sales
B2C companies sell directly to customers. Anytime you shop online, you’re involved in a B2C sale. In contrast to B2B sales, there are fewer decision-makers involved and much lower stakes, so the process is much quicker. Think about ads on Instagram or products in an email — it sometimes takes just a few minutes for a consumer to see the product and decide to buy. As a result, the focus in B2C is on experience, value, and instant gratification. This makes digital selling much easier throughout the entire process — from awareness of a product from email marketing or social media ads through purchase in an online store.