Don’t Fail at B2B – Avoid These Devastating Mistakes!
Are you in the business-to-business commerce arena? Then the possibility will be very high, you’re making some serious mistakes. We’re going to take a look at some of the B2B mistakes we often see. These mistakes are common among startups, but even some of the bigger organizations might be guilty of them!
Forgetting the key differences between B2C and B2B
The approach you make in B2B needs to be a lot different to the approach you would take in B2C. Yes, you are, essentially, still selling a given product to a particular consumer. But that doesn’t mean you should be using the tried-and-tested B2C sales or marketing techniques in this field.
Remember that B2B buyers are going to work and think a lot differently to B2C buyers. They’re making business decisions and investments. The purchases they make aren’t just decided by a single buyer. Often, they’re decided by a decision-making unit. They’re more likely to buy things in bulk, and to set up recurring purchases. Developing a long-lasting relationship with the buyer takes on a greater significance. And that relationship is often going to be defined by various contracts and conditions.
Not looking into credit programs
Many new B2B organizations make a mistake here because they’re dealing with businesses instead of single buyers. They assume that they have access to bigger cash reserves. Which, yes, is generally true. But this thinking leads them to the assumption that they’re more willing to part with huge sums of cash in one go.
Most B2B businesses are going to offer credit programs of some kind. The businesses who want to buy your product are probably going to expect you to offer a finance option. Direct payments are actually pretty rare in this field. So even if you’re in a newer field like B2B E-commerce, you should be looking into credit programs.
Thinking social media is just for B2C
There are a couple of mistakes that B2B business owners make here. The first is that they believe that their work is too dull for the “social media public” to enjoy. They also tend to believe that their clients, and the businesses they desire as clients, are too “serious” for it. That they don’t enjoy social media content.
But neither of those actually reflect the reality of B2B social media. General consumers are often interested in the exploits of B2B brands. Take a company like Oracle. Oracle are a B2B organization, but they’ve got nearly half a million followers on Twitter. Not all of those followers are potential clients. But all those followers will definitely impress potential clients!
Neglecting your CRM tool
Here’s another common mistake. B2B business owners often tend to neglect their customer relationship management tool. That’s if they even have one! People tend to think that a CRM tool is something unique to the arena of B2C. But this is absolutely not the case!
The fact is that your client database could end up getting quite large. And in order to maintain consistency and efficiency, it’s best to use some of those “B2C methods”. It not only helps you maintain relationships with clients. It also helps business owners hold particular reps accountable for any mistakes that may occur.