There is such a significant focus on consumer goods and the customer journey in that arena. I wrote about the customer journey last week, and you can read more about it here. Rightfully so, as more people are directly impacted by the marketing and positioning of products for personal consumption over those intended for B2B purposes. Why then, do I consider the emphasis of B2B sales to be more important than B2C? I’ll tell you why.
First up: Accessibility
When I want to purchase something, I have a few options depending on the product. In many circumstances, I can buy directly from the company that makes the product. This is B2C in it’s purist form. Another option is to go to a store I love that carries that product and purchase it there. That is still B2C, but something happens before that.
If I create widgets and sell them directly to customers, that’s fine and dandy. I also need to
position my widgets where my customers are already shopping. I need to sell my widgets to
another retailer from whom my customers can purchase the widgets. This positioning gives
consumers the ability to gain easier access to the product. There are plenty of reasons why
someone would go this route over directly from the manufacturer. Those reasons include
convenience, loyalty, policies, and more. By selling your widgets B2B, you are increasing your chances of increasing your brand’s awareness and visibility, which will lead to more revenue
Next Up: Trends
Businesses, by and large, set the purchasing trends for consumers. Ultimately, you can only buy what is already for sale, and retailers tell you what those products are. Sales teams will
intentionally pivot certain products towards target audiences to achieve a specific revenue goal, as determined by market research. That trend trickles down to the consumer. For example, if I told you that our bestselling wine trio is made up of three California Cabernets,
and then directed that advertising towards you, you may be inclined to purchase it. Still, if I am selling to another company I would advise them to purchase that set for all of their clients and employees at the insistence that my professional experience and education has led them to the right place. Not only am I selling more volume to one customer that way, I am creating other customers who will receive that wine and potentially want to repurchase on their own in the future.
Finally: Information
Collecting data and reporting on those analytics is easier to do with businesses. You can use that collected data to understand your business buyers more clearly, and change your approach more quickly. You can use the information you have gathered, like budget, use, preferences, and needs from their first purchase to remarket it towards them a second, third, and fourth time.
You can also shorten the sales length of a customer when you already have this data. You can setup instances of recurring revenue from monthly sales. You can even customize products for the needs of individual retailers if it means maximizing profitability.
Moving product is arguably the most important part of the supply chain, and this is best
accomplished when predictable. Businesses are more predictable buyers than consumers are.
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[…] week, we discussed the importance of B2B sales to the supply chain. This week, we will discuss the improtance of omnichannel marketing in the wine […]