B2C sales refer to Business to Consumer sales, which is the models in which the businesses target individual customers. Sales representatives are the best examples of B2C sales in which they sell cars, stereo systems, gym memberships, magazine memberships, and medical representatives visiting individual practitioners.
Some of these products are high price point products like cars, real estate, medical equipment, but the majority of them are lower price point products, which involves one or two people as decision-makers. The typical sales cycle of this type of sales is concise than an average business to the business sales cycle.
B2C sales may refer to any process in which the selling is done directly to the end-users. In the case of retail sales, we can see this type of model in which the customers are contacted directly by the company establishments which have a brick and mortar store. Examples include an Apple Store, gap store, etc.
B2C sales involve a lot of customers, but the conversion rate can vary. But in the case of B2B sales, the lead list is small, and the company has to work on a higher conversion rate.
Differences between B2C Sales and B2B sales
Both the type of sales are necessarily consumer sales. While customer purchases could be made immediately, the business purchases could take time because of several people involved in decision making.
The following are significant contrasting differences between B2B and B2C sales
B2C Sales is comparatively faster than B2B sales. The process of B2B sales is much longer and can take several months or several years to arrive at the decision-making process. It starts right from lead nurturing goes on till the engagement and does not stop at selling the product but continues with after-sales service. In the case of B2C Sales, that may not be the same.
The decision making is quicker as compared to the B2B counterpart, and the sales are faster and repeated more in a short duration. The B2C sales funnel is shorter as compared to B2B sales.
Usually, the purchasing decisions of B2C sales are taken by one or two people. On the contrary, for high price pointed equipments like medical pieces of equipment, real estate, etc., many people are involved. In the case of corporate sales, many people from different departments such as the marketing department, finance department, and even the board of directors would be involved in providing the final approvals regarding the purchases.
Involvement of so many decision-makers with only lengthen the purchasing process and increase the sales cycle. This hurdle will never be present in the case of B2C sales because the decision-maker is one person.
The net of sales of B2C is much larger and brings in a lot of qualifying leads. The number of leads to work is much more significant in B2C sales as compared to B2B sales. The percentage of conversions does not matter in the case of B2C sales, but it is of high relevance in the case of B2B sales.
The price points for B2C sales are much lower as compare to the B2B sales and the products. Usually, long contracts are involved in the case of B2B sales, and a single order can be of very high value in the case of B2B. This is not true in case of B2C sales where they work upon a large chunk of orders although of less cost.
5. Buying Process/Cycle
The transactions of B to C are quite straightforward. The products are produced usually on a mass scale and a uniform in character. The requirement of the customer can be fulfilled immediately in case of B2C sales.
On the other hand, the products are highly customizable, and the buying process is very long and complicated and depends on the situation in case of B2B sales.
Sales tips for B2C sales
1. Know your customer
You should have an excellent knowledge of your target customers when going for B2C sales. You could waste a lot of effort and money and not to mention time in trying to approach everyone. Prior research is crucial.
Profiling the customers and shortlisting the probable buyers will reduce a lot of physical work for B2C sales.
Knowing the history of the customer, the preferences of the customers, and the persona of the buyer that is a semi-fictional representation of your ideal customer should be with you before initiating B2C sales.
The amount of expertise needed in B2C sales is much less as compared to B2B sales. It is always appreciable to learn a few skills before approaching the job, but it is not mandatory while applying for B2C sales. It is also advisable to keep yourself updated with the industry trends and to know your customer or prospect.
3. Establish Rapport
If you are going to be personally visiting the customers face-to-face to make the deal, then you must learn to put them at ease and earn their trust while going through the sales process. You have to ask the right questions to understand their concerns and needs and sell your product on that basis.
Selling in the case of B2C is very personal. You should be convincing to the customer to spend their own money, and they should understand the individual needs. You have to make the sales pitch very personal, and it should have a customized message for the customer. You have to convince them that you are interested in their best interests. Next time offering thoughtful insights, directing your conversation without dominating them, and being in contact are few of the essential tips that you can use to make the customer at ease. You should have a genuine desire to solve the problem by offering a product or service.
4. Use E-Commerce
If you are expecting a lot of business, then approaching the online segment is also an important step. Most of the customers for every type of sales visit online e-commerce websites. The conversion ratio of an e-commerce website is much higher compared to the number of visitors the site has. These figures also determine the efficacy of your online business and the effectiveness of your online messaging.
It is a different thing to have a great product or service, and it is entirely another thing to make it accessible and attractive so that the customers purchase themselves.
To improve your B2C sales online, you have to explain about your products in a video, give your visitors a clear set of product images, and include a web chat feature that will allow the customers to ask the questions related to the product instantly.
You also have to ensure that you answer those questions immediately, which would increase the chance of customer conversion. If you can take these measures, then you will provide a smooth and accessible user experience for the customer, which will improve the online experience of your customer conversion.
5. Follow up
When you encounter a new customer, send them an introductory email about your business. Assure them that you will always be present for them to solve any issues or address their concerns for them. Pay special attention to your existing customers so that they feel valued. Let them know that you are still thinking about them even after the purchase has been made. Reach out to them consistently without annoying them and care for the schedule emails and promotional messages for them.
The objective in focus should be to turn the one time buyer in to repeat customers, which will generate an excellent ROI. Turning the existing customers into brand ambassadors is even better because they will start telling their friends and family about how good your product or services, which is entirely a free promotion.
Skills required for B2C sales
B2C sales are swift and unpredictable. The salesperson has to be on his toes all the time to stay ahead of the competition. You should have a mindset which is ready and should accept challenge and change.
This will also put you in a better state of mind then getting stressed out when your present-day does not work out as expected.
2. Building Rapport
As mentioned earlier, B2C sales is straightforward as compared to B2B sales because fewer people are involved in decision making. You have to use for the convention only one person rather than continues to talk with the committee full of decision-makers.
That means you have to make relations with only one person and work on him to build your rapport. It is of utmost importance that you present them suggestions, show them benefits and close the sale quickly because most of the people are short on time and distracted easily.
You must have communication skills while entering the B to C industry. The better communication, the more are the chances of your customer conversion because that means you will be able to deliver the message quickly and close the sale.
Interaction does not mean talking but also means understanding the customers and checking back if you have followed the customer correctly and then presenting a proper solution.
Using formal language without jargon or slangs, which is friendly but has a formal tone at the same time is essential to close a B2C sales deal.
The buying process in B2C sales is based often on the customer and his needs. The buyer has to feel the emotional connection to the brand, and that will only be possible if you have marketed the product correctly. You should understand the social trends and should be able to use that knowledge to place your product in the minds of the customer properly.
You should also be able to gather essential marketing and competitor information as a frontline salesperson and use that information in the marketing of your product to deliver competent and compelling messages.
The important thing is to take time and reflect and work on the sales that have not been materialized.