Sales is a challenging business, so it’s critical to generate leads through as many avenues as possible. The top two types of sales are business-to-consumer (B2C) and business-to-business (B2B) — but just sticking to one or the other could cut you off from valuable customers and revenue opportunities. Let’s look at the big differences and similarities between B2B and B2C sales, and how your business can use both to improve your sales strategy.
At their core, both B2B and B2C sales center around selling to specific customers. Whether the customer is an average consumer buying a custom-configured car, or a business shopping for an entire fleet of vehicles, the basics are still the same. If the customer feels valued and supported, they’re more likely to purchase again in the future, or recommend you to other buyers.
As much as B2B and B2C sales have in common, they are fundamentally different — and each comes with their own challenges and benefits. Here’s what sets them apart:
One of the main reasons to add a B2B sales process to your company is that these sales are usually larger than B2C sales. While the buying process may be longer, a B2B customer is not likely to purchase just one or two small items like B2C customers will.
Instead, you’re more likely to sell large quantities of products with a B2B client. B2B customers are more likely to have higher lifetime value than consumers, as well. For example, if you sell configured tractors, eventually they will need replacement parts. This can help generate reliable revenue even without new customer acquisitions.
Here’s a simple roadmap to improving your B2B sales strategy:
Businesses can’t grow without increasing their sales, but these efforts don’t have to be confined to just one avenue or type of consumer. If you’re currently selling to only businesses or to only consumers, now is the time to tap into new markets and grow your customer base. Configure One by Revalize provides all of the sales capabilities you need to make an impact for both B2B and BC2 customers. Get in touch to learn more.