Though the Lead Generation strategies and techniques for B2B and B2C segments vary widely, the underlying concepts, tool used and resources required remain the same. Let us explore why we need to differentiate the B2B and B2C lead generation scenarios in the first place.
B2B (Business to Business)
As the name suggests, this activity is related to selling goods or services by a business to other businesses. For example, if you are producing machine tools or manufacturing equipment or creating enterprise software packages, your operations will fall under B2B scenario, as you will be selling your products / services to other businesses.
B2C (Business to Consumer)
In this case, a business sells its products or services to the end consumers (and not businesses). For example, if you are an insurance agent selling personal insurance services, you fall under B2C scenario. However if you are selling group insurance plans, then you will be selling to corporates and businesses.
Similarly if you are selling Debt Consolidation programs or Satellite TV services, then you will be selling direct to the consumers.
Most small businesses such as retail shops, realtors, dentists, florists, re-modelers and contractors sell their services direct to consumers and hence classified as B2C businesses.
Selling to Small Businesses
If you are selling your services to small and tiny businesses, it will work like more of B2C than of B2B as there is no corporate structure and elaborate procedures.
B2B and B2C Selling
Why should you differentiate between B2B and B2C? There are inherent differences in the sales processes and hence these points are to be kept in mind while generating leads. For example, B2B Sales is generally a complicated process with a longer sales cycle (months or even years). Whereas a B2C Sales is typically a very short sales cycle (days / weeks).
The decision making is a complex process in B2B sales whereas the consumers take a quick decision.
Lead Data Collection
The data to be collected in the lead generation process varies with the type of sale (i.e. B2B or B2C) as well as the nature of business and products sold.
For instance, in the case of insurance lead generation, all details including full address, phone number and insurance requirements are collected upfront.
In other cases, especially in B2B, very minimal prospect data is collected on the landing pages. For example, most B2B lead generation pages include the name and email address. Additional details are collected at much later stages during the prospect engagement process.
Keep these basics in mind when we discuss lead generation strategies, tools and techniques in future articles.