Many long-established and classic B2C businesses were affected and brought to their knees as we ventured into the digital age. It may seem like the end for these businesses. However, a few of them take this digital transformation as an opportunity to expand and rise to the top. The same can’t be said for the B2B space, as this transition didn’t hit them hard initially. All the attention that B2C garnered has made B2B quite hidden in this process.
Nonetheless, B2B has undergone its own digital marketing transition. They have become a lot more dynamic and competitive, not to mention adapting the B2C strategies and making them their own. This means B2B has the chance to really catch up to its B2C counterpart and make its mark. This article explains some battle-tested strategies from the B2C to further develop the B2B space.
Customers Before Products
B2B companies and businesses have the tendency to create their products and services first without deciding their market and target audience. The downside of this system is that the products and services they made in the first place might not resonate with the customers’ needs. The glaring difference between B2B and B2C is that B2C realised the importance of a customer-centric approach in their marketing and business model. Many successful B2C companies prioritise their customers’ needs first and then create and model their products and services based on said needs. These B2C companies would thoroughly know the customers’ perspectives and insights and determine what products and services they seek. Moreover, by attracting customers, the companies would have the freedom to innovate and expand their range of products and services.
Research conducted by Deloitte and Touche stated that; client-centricity is the most crucial factor in a successful business digitalisation since client-centric companies are 60% more profitable compared to companies not focused on the customer. Yet, only 23% of B2B marketers claim to have a customer-centric organisational structure instead of channel-centric or product-centric. This approach, supported by the research above, has shown that investing in knowing the wants and needs of the customer before developing a product or service will generate higher revenue and ensure sustainability for the company. Finally, put the customers front and centre, and it will be inevitable that business will soar.
Bite-Sized Information For A Better Experience
In the modern age where technology is available for everybody, it’s safe to assume that consumers will be well-informed about the products and services they need. B2C marketers have perfected the art of providing detailed information for consumers without leaving them feeling overwhelmed. The consumers’ attention is everything when promoting and selling products or services. Presenting information in just the right amount is the trick to keep them engaged long enough to decide. B2B marketers could definitely learn this method. B2B marketers need to assist consumers in finding the most relevant information about a product and how it will help them in one sentence or less. Most decision-makers value their time more than anything. B2B terms can be quite technical in their nature. So sharing expert knowledge and providing actual value for them without expecting anything in return is a great way to attract and entice the consumers’ attention and interest. This is also a great way to make your company look good. Make them see your company and brand as an entity that aims to become a thought leader and not at all money-oriented. A study done by Accenture stated that nearly two-thirds of consumers globally (63%) prefer to buy goods and services from companies that stand for a shared purpose.
This method will eventually streamline the customer experience as a whole. The companies are willing to invest large sums of money in developing a simple, intuitive, and user-friendly experience. B2B marketers tend to establish long and complex systems where customer experience is neglected. Hence, B2B should learn how B2C streamline its customer experience by planning every step of the way to the tiniest details. The most effective customer experience strategies plan out the target consumers and deliver the perfect experience for them, meaning aligning your internal operations to support that goal. Transparency equipped with informative and convenient expertise will produce a stellar statement about your brand.
Successful and proven strategies could come from anywhere. These points stated above should be learned by B2B companies to elevate their B2B marketing strategy to take their business to greater heights. Get in touch with the leading digital marketing agency in Singapore today!