Believe it or not, the B2B industry is worth far more than the B2C industry – five times more, to be exact. Yet, there is more known about B2C trading because we’re all a part of it. We’re all consumers who contribute to the ever-growing tricks of the trade that seems to make B2C sales easier. It doesn’t help that the buying cycle for B2B trading is so much longer and that B2B traders are more likely to have more people involved in the buying cycle. But can B2B companies benefit from some of the tricks of the trade? Discover more here.
Social Media Interactions
Social media has contributed to many a change for B2C brands – from ad pop-ups that allow consumers to shop without even leaving their social media apps to influencers that help promote products – social media has elevated the B2C shopping experience. Plus, 4.4 million active users are lapping up promotional content that 79% of marketers are paying to appear on social media timelines.
According to one study, 84% of C-level and VP-level buyers make their purchases based on influences from social media, and it’s actually the most popular B2B marketing technique – with 83% of marketers using it. There’s a real chance for B2B brands to engage with buyers either through promotional posts, post interactions, or direct messaging. Before you start thinking a B2B brand is going to start liking buyer’s personal posts – we’re thinking more along the likes of LinkedIn, which is the most popular social media platform for B2B sales.
66% of B2B buyers use it and consider it to be effective in comparison to 30% who use Facebook. LinkedIn is somewhat more professional.
Loyalty Programs and Rewards
Loyalty programs and rewards are most definitely a leaf from the B2C book that B2B brands can take. Loyalty programs and b2b incentive programs are, believe it or not, a great way of retaining loyal customers. They focus on rewards-based shopping, which gives every purchase a reason and promotes an emotional connection between the buyer and the seller – according to Psychology and research into buyer habits.
A loyalty program for b2b customers like https://www.incentivesmart.com/customer-loyalty helps build a meaningful relationship, with 55% of buyers believing b2b rewards are essential, and a way of a brand showing buyers how valued they are. Plus, a highly-prized and tiered-based rewards package is more likely to promote recommendations and further spending.
There are plenty of companies that offer a tailored loyalty program for b2b customers based on your business needs.
Targeted AdvertsÂ
Targeted adverts can sometimes feel like the bane of our lives. It’s as though they know exactly what we’re saying and thinking – and the advert always pops up at the strangest of moments. Yet, it’s also convenient. If you’re always thinking about buying a new TV, for example, and TV adverts keep popping up when you’re scrolling through social media, it’s more likely to influence you to make a sale.
Targeted ads can work just as well for B2B buyers, but perhaps in a more specific way – such as through email marketing. Base your email marketing efforts on previous purchases to personalize and tailor the advert and ship it in an email. For B2B marketing – email is the most effective method to use.
B2C and B2B buying experiences are shifting more towards similarity than ever before, with many buyers demanding a similar process to B2C sales – one that’s more streamlined and straightforward. There are plenty more examples of similarities between the two forms of trading – such as live chats as a form of instant communication.
