CRM for B2B And B2C: How to Avoid Company Overkilling
The advancement in technology changed the market paradigm, and now a customer modifies the rules of selling process. CRM software emerged like a solution that facilitates the paperwork, improve business procedures and communicates with clients for diving into their interests. However, in CRM the notion of ‘customer’ is not only distinguished as a person but also like the whole company as well.
Presently, companies have a general division into B2B and B2C. These business models have a standard feature of providing a high-quality product or service, but the approach to the work with the clients differs. B2B (business to business) is a mutual informational and economic interaction between organizations. B2C (business to consumer) is a company which focuses on collaboration with the end user. So, the selection of CRM for B2B or B2C model has a crucial importance for future development of your business. A diversity of CRM platforms allows you to choose the most suitable system that will enhance your revenue instead of overkilling your organization.
CRM for B2B: Improve Customer Relationships
B2B model focuses on a small targeted market that has a long sales cycle and a massive amount of contact data. So, here is the list of B2B peculiarities that should be taken into account before implementation of CRM software.
Defining Targeted Customer
Due to the enormous amount of customers data, B2B requires CRM platform with powerful administration tools for dividing its prospects into specific groups. As long as a client represents the whole company, this business demands a real-time monitoring and updating of clients’ database. So, CRM for B2B has to facilitate the building of substantial and logical relations across various channel partners of a single corporate body. B2B usually has accounts with numerous contacts. With the help of CRM, it may identify the most powerful and influential position (sales manager, dealer, etc.) that makes the critical decisions.
Pace of Sales
The sale cycle of B2B is quite long and may last months or even years. So, the call, email, and buying activities histories have to be stored in CRM and accessible at short notice. B2B has a complex and multi-step procedure of deal accomplishing that depends on the number of decision makers.
Product Types and Profits
B2B companies run the prolonged targeted marketing campaigns and provide their users with highly customized products. So, the automation of main processes and real-time monitoring improves the ROI. B2B organizations get the thousands or millions of dollars revenue after a successful deal close. That’s why analytics features of CRM facilitate budget setting up and getting reports of departments and a separate worker performance.
CRM for B2C: Vital Requirements
The most suitable CRM software for B2C organization acquires such options as the speed of every stage management, optimization of the processes and customer segmentation.
Advance Sales Cycle
Due to the short sales cycles, the speed of accomplishing plays the principal role in enhancing the sales process. So, B2C company requires permanent records updating and a lead integration. The monitoring of the changes and lead distribution is a sufficient basis for analyzing and planning future projects.
Optimize the Uptime
A powerful workflow is a crucial element that will optimize teamwork and automatically assign a new task to a specific salesperson. The conversion has a profound impact on the sales rate. That’s why the milestone is tracking, and automated lead nurturing improve the effectiveness of marketing campaigns.
The tool of customer segmentation scores your leads and divides your clients into separate groups according to their importance, interests, buying history, etc. With the help of these data, B2C company can plan targeted offers, prioritize campaigns.
These peculiarities make clear that B2B and B2C require applying different CRM platforms for sales and marketing management.
Can CRM for B2B Have Foot in B2C Camp
Customer relationship management system offers efficient and untold tools for productive performance at the market and conversion more leads and prospects. However, B2B businesses take advantage of hierarchical structure of CRM data categorization. They save every client as one organization record that may include some different contacts form the same company.
If B2C business uses the CRM software in this way, the managing of main processes falls on their teams like a heavy burden. The customers of this company are a single contact and extra features of CRM increase the duration of sales cycles and waste the human and cost resources of the organization.
Obviously, B2B and B2C companies require different CRM platforms with a particular feature and tool sets for successful accomplishing of business objectives. As you can see, CRM for B2B differs from demands of B2C organizations. The standard set of CRM tools may fulfill the needs of both types only to a certain amount.
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