How many clicks does it take to convert a business lead?
What are the differences between selling to consumers and businesses?
Back in my 'old' days of database marketing we knew the differences only too well. B2C is about a brand's relationship with a consumer. B2B is about an organisation's relationship with another organisation.
How does this relate to web marketing?
- In B2B There are fewer searches, but each search has a higher potential value
- There are multiple decision makers (the decision-making-unit or DMU)
- The initial search intent is to research rather than to buy
- Whereas B2C is about clicks and transactions, B2B is about leads and conversions
- ..which means you MUST capture leads
- The time from initial search to transaction might be weeks or months
- ..which means that getting indicators of interest (signals of future buying intent) is vital.
Huh? Well say you're marketing an advanced building method to an architect. Assuming the architect has an immediate application for the product, he or she is part of a specifying team of professionals each of whom will play a part in recommending your product.
But the architect won't ultimately buy the product, the building contractor will. Staying front-of-mind and getting referred to other decision makers is crucial.
Indicators of interest may include subscriptions to Blogs and newsletters, white paper and case study downloads. Lead 'nurturing' is essential.
Where B2C is literally a numbers game (high volume, low value leads), each B2B lead is as scarce as Gold:
- Leads are more important than traffic
- The more specific the keyword the better the quality (favours the Long Tail)
- There are multiple decision makers and influencers (the DMU)
- Landing Pages must be designed to capture the lead and NOT try to close a sale
- Engaging the visitor is essential (you want them to refer the site to co-workers and make repeat visits and/or subscribe)
- Did we mention conversions?
- OK, say it aloud 'Conversions NOT (just) traffic'
How Google killed the trade show
90%+ of B2B buyers start their search online. Rather than relying on trade shows and Sales Reps for information, the modern buyer is much better informed.
Without effective call for Action(s) you may provide metric tonnes of free information while devoting your bandwidth to charity.
It's all about engaging the visitor and exchanging information for contact details. The operative word is 'exchange' but it may be extended to 'fair exchange'.
What does it take for you to give a website your contact details (quick quiz)?
- Download a brochure? yes/no
- Download a Whitepaper? yes/no
- Get an obligation-free assessment? yes/no
- Subscribe to a newsletter? yes/no
- Access premium content? yes/no
- Trial a product, service or system? yes/no
As the years go on, we want more in exchange for our precious contact details. This is the challenge.
Be strategic. Be patient.
Since buyers search early in the Sales Process, they are often not ready to speak to a sales person.
That's where an effective social media strategy comes to the fore. Hungry for inside information, buyers are more likely to subscribe to/engage with a blog, forum, newsletter or feed rather than show their hand by contacting a sales person.
This is often a reason to put some distance between your corporate website and your Blog or Wiki.
With B2C the process ends shortly after the click.
In B2B the click is just the beginning ...