Business goals change depending on the type of audience being sought. Business-to-business (B2B) companies are those seeking other businesses as clients, whereas business-to-consumer (B2C) companies are those seeking a consumer audience. Because the strategies for these two types of business models are vastly different, so are the market automation processes. Different technology, data, and analytics will be used based on the target parameters set by your company’s structure.
What are these differences? Although there are several, we will focus on three main aspects to expect from a B2B vs a B2C automation platform. By understanding these distinctions, you can make more educated steps towards either beginning a marketing automation onboarding process or adjust a current strategy to better fit your goals.
To get introduced to the basics of this software, start at the beginning by viewing this article that answers the questions, what is marketing automation?
3 Key Differences Between B2B & B2C Marketing Automation
In marketing automation, there are three key differences between B2B and B2C–the source of contact information, the variations in content, and the end goal of each strategy.
Contact Data Sources
The sources of your contacts can come from both CRM integration and visitor identification. The latter is a technology system that allows businesses to see the name and contact information of other companies making website visits. This gives B2Bs a competitive advantage by knowing the name, address, phone number, and email address of qualified leads.
In contrast, data from visitor identification systems are only shown for businesses and therefore is not visible for B2C companies (i.e., you can’t gather consumer contact data). For B2Cs, the primary source of contacts is usually built from scratch. Through lead capture strategies, social media, and other means of gathering contacts, B2C businesses build their own contact list.
Type of Content
The type of content that B2B companies disburse will be primarily educational and informative. Becuase there are so many other alternatives for information sources, businesses should continuously stay in touch with contacts to keep them informed of industry news and materials that keep people coming back. You never want to leave your customer once a service or product is sold–by remaining a valuable resource, you can show customers everything you have to offer.
For B2C businesses, the content in a marketing automation campaign typically targets those ready to buy and has a goal of generating profits. Examples include automated emails for coupons, special sales, discounts and events centered around creating a unique buying opportunity. Retargeting customers is another way that B2C companies can create content–promote products that will entice and keep them coming back for more.
People love personalization! Make your contacts feel special by automating emails for birthdays, anniversaries, and other special events. Include the contact’s name and any other custom touches you believe will make a big impression.
KPIs & End Goals
While it is obvious that the end goals of B2B and B2C companies will differ, it may be less apparent that their key performance indicators (KPI) also vary.
The key takeaway for a B2B company is to generate leads, while their main focus is lifecycle management. The typical KPIs for these types of businesses will be within:
- Leads – increasing not only the amount of leads but the quality as well. Leads need to be qualified and have some indication of a potential purchase.
- Lowering marketing expenses – For some businesses, one of the main points to using marketing automation is to reduce overhead costs. By automating more processes, you can lower manual work from the marketing department.
- Get more conversions – Another key point to getting involved with marketing automation is to increase conversion rates. By better managing leads and implementing the right processes, your business can do just that.
For B2C companies, the end goal is to retain customers; keep them coming back to purchase more. The typical KPIs for these types of businesses will be within:
- Email open rates – By increasing the number of times an email is opened, you can not only gather more useful data but also get that much closer to another sale.
- Lower shopping cart abandonment rates – This is a huge concern for B2C businesses. Targeted and automated emails can help reduce this number–remind users of the items in their cart and maybe even give a coupon to entice a follow-through purchase.
Let The Pros Manage Your Automation
Marketing automation systems can be complex and time-consuming for someone outside of the marketing industry. We know you are busy trying to run a business–let us help! By partnering with ITVibes, we can establish a strategy that will help your business grow. Contact our specialists today for more information or to get started benefiting from a marketing automation platform.