How Lead Generation Differs For B2C and B2B
If you’re in sales, lead generation is something you hear about daily. But what does it mean, exactly? The simplest way to think about lead generation is to solicit new prospects or customers for your business. Both businesses that sell directly to consumers (B2C) and those that sell to other businesses (B2B) use lead generation.
What is lead generation?
Lead generation is actively soliciting new prospects or customers for your business. Lead generation is important because it helps you grow your business by generating leads, which are individuals who have shown interest in what you have to offer and could use your product or service. Lead generation is a critical part of the sales process because, with leads, there is a way to sell something.
Leads are the lifeblood of any successful business; in fact, they’re often called “the prince” or “the princess” because they’re so valuable (and hard to get). As Jeffery Gitomer explains:
“A good lead can be worth $1 million over his lifetime.”
You need leads to keep your business running and growing!
Leads, also known as prospects or potential customers, are the first step in the sales process. They’re people who have shown interest in your product or service by taking action (e.g., downloading an information sheet or giving you their contact information) but haven’t yet purchased anything from you.
You might be thinking: what’s so special about leads? After all, if someone has already expressed interest in one of my products or services, why wouldn’t they buy it right away? Well, the answer is simple: because many barriers get in the way of making a purchase decision!
Both B2C and B2B use lead generation.
Lead generation can be used by companies that sell directly to consumers (B2C) and those that sell to other businesses (B2B).
B2C companies often have a more laid-back approach to their sales cycles than B2B. They may rely on the lead generation process less frequently but use it regularly. Many B2C companies need to know where they’re getting their leads. It’s all about how they’re tracking them. Instead, they must focus on the actual sale—when a customer clicks “buy.”
B2C companies usually have fewer employees dedicated solely to lead generation because they need less. However, some companies may utilize one person or team responsible for generating leads to meet specific goals or quotas within the organization’s strategic plan.
B2C companies often have a more laid-back approach
B2C companies typically have a more laid-back approach to their sales cycles but still rely on lead generation to sustain their businesses. As a result, you’ll find that B2C companies tend to have a longer sales cycle, lower average order sizes and fewer daily customers.
When it comes to attracting your target audience, B2C companies can look at the following tactics:
- Social ads on Facebook and Instagram
- Facebook retargeting ads (for people who have visited your website)
Inbound leads are the type of leads you receive when prospects find your business through channels like your website, blog content, social media, and paid advertising. These inbound methods typically target the early stages of your sales cycle — individuals who aren’t necessarily ready to speak with a salesperson (or even chat with one online). Instead, they’re more likely to research products and solutions, build awareness of their problem, or search for answers.
The first thing to know about B2C lead generation is that it’s more than just getting people to fill out a form. It’s about understanding what your prospects want and then delivering it. That’s why having a well-defined target market with specific needs, goals, and pain points is so important.
Once you’ve understood your target market and their needs, you can start thinking about how best to reach them—and how to keep them engaged once they’ve contacted you!
If your company has been around for some time, chances are good that people already know who you are. But if not? That’s okay—you can still use content marketing to build brand awareness among potential customers. Content marketing is all about creating useful material (blogs, ebooks etc.) that will attract people who might be interested in what you have to offer—and keep them coming back for more!
Tips for B2B
A B2B lead generation strategy is important to any business’ growth. As a business owner, you know that there’s only a point in spending time and money marketing your products if you have a way to track the leads you’re generating.
The first step in any successful B2B lead generation strategy is understanding who you want to target as potential customers. Do they like social media? Are they more likely to respond to phone calls or emails? What makes them tick? Once you’ve identified this information, it’s time to get down to the nitty-gritty: how will you reach out and engage with them?
Unfortunately, this is where many businesses need to catch up. They spend all their time thinking about how to reach out best and engage with potential customers, but they need more time engaging with them once they’ve reached out! This means that even if a company offers an amazing product or service, its efforts will ultimately be well-spent if it can connect with potential customers meaningfully.
The best B2B lead generation strategy is a multi-pronged approach. There are plenty of ways to generate leads, but they will only be successful with the right strategy. A good lead generation strategy can help you reach your goals but also helps you avoid wasting money on ineffective tactics like PPC ads and cold calling.
So what is the best B2B lead generation strategy? It depends on what kind of business you have and what your goals are. For example, a telemarketing campaign might work well for you if your goal is to sell products or services to small businesses. However, an email marketing campaign might be more effective if you want to sell products or services to big companies with high budgets and lots of resources.
Lead generation strategy is critical to any company’s growth plan but can be challenging. If you’ve been in business for any length of time, you know how important attracting new clients or customers is. With them, your business can grow and thrive.