Three Tips for Pitching B2B vs. B2C Clients
The golden rule of effective marketing is to always understand your target audience. Without this knowledge, it is nearly impossible to establish appropriate messaging for each group. This ideology couldn’t be more accurate when it comes to pitching B2B vs B2C stories for clients.
B2B sales and marketing plans vastly differ from those necessary for B2C brands. Considering the needs of each brand type will help you inch closer towards an effective strategy for customer acquisition.
Consider Buying Motivation
Crafting sales pitches for B2C clients is fairly straightforward. Consumers generally make buying decisions based on their emotions. Many buyer preferences are also heavily formed by social norms and expectations. All things being equal, the product that has been adopted by a larger majority of the mainstream market will be the preferred choice for most buyers. Convenience cannot be ignored when dealing with customers, however. If a similar alternative is cheaper or more convenient to acquire, a lesser-known brand may have the advantage. On the other hand, utility is the most important concern for businesses. Over a third of purchase decisions are driven by features, with 95% of B2B buyers opting for brands that can deeply understand their needs and provide relevant information at each stage of their journey.
Remember All Stakeholders
B2C clients only have a single consumer to appease. In rare instances, buying decisions may be made by a couple or small family. However, the vast majority of successful B2C pitches are crafted to convince an individual.
According to the Gartner Group, a global research and advisory firm, an average firm with 100 to 500 employers is reported to have seven people involved in most buying decisions. The specific roles of these individuals will differ from business to business, but oftentimes includes those in finance, human resources, operational and executive positions. Pitches must be comprehensive enough to address each of these functions, while also speaking to the overall needs of the firm. Failing to adequately do both could result in longer sales cycles and fewer conversions.
In the consumer market, the simpler you are able to convey the value in a product or service, the easier it will be to convert. This is known as cognitive fluency, a psychological term referring to the ease of completing a mental task. Unsurprisingly, individuals prefer things that are easy to understand and process. While it may seem like a fairly obvious concept, psychologists are only just beginning to uncover how great of an impact cognitive fluency has on consumer decision-making.
Businesses actually prefer more technical details about an offering and its use cases. In fact, 62% of B2B buyers state that they can make purchase decisions solely based on existing digital content created by a brand. With a growing number of stakeholders involved in the buying process, however, the length of the B2B sales cycle is reported to last 83 days on average. This figure continues to grow, as companies place a greater emphasis on ROI when comparing solutions. Comparatively, B2C conversions often occur in as little as five minutes.
Regardless of whether you’re pitching for a B2B or B2C client, storytelling is incredibly important in capturing your audience. Uncovering this story may require a lot of creativity and effort, but will undoubtedly set your client apart from its competitors. The success of your pitch will depend heavily on the narrative you’re able to create around the brand. Keep these three tips in mind will come in handy while pitching both B2B and B2B brands.