I know it’s a stupid question. My brain hated me when I made it think like that.
Bananas are everyday, low-stakes purchases with a quick decision process.
Real Estate requires more investment, decision-makers, and consideration.
More like B2C vs B2B product comparison.
This is NOT a B2C vs B2B comparison post, my friend. This is about something deep.
I was researching why converting a B2B lead is tougher than converting a B2C user. Here is what I found:
1️⃣ B2B buyers consider 6 or more options before making a purchase, compared to just 17% of B2C buyers
My mom asked me to get basmati rice from the Annachi Kadai (Grocery Shop).
I went and asked Annachi (owner) gimme 1kg of Basmathi rice.
He asked, “India Gate or Dawaat?”
I was like who cares? I need Biriyani.
You should have seen me researching to get a custom gaming PC. Haward Business Review articles would fail in front of my research.
F**k 6 options, I got 10!
RTX 4060 Ti or RTX 4060? Gigabyte B450M WIFI or MSI PRO B760M-E? I did permutation combinations with PC components.
So, what’s the difference between Basmathi rice and Custom PC? Money and decision-makers (my wifi funds my lavish purchases).
2️⃣ Average B2B sales cycle is over 2 months long
A big salute to persuasive sales folks. This is the reason why I didn’t choose sales as a career.
During these 2 months, your sales team will need to make every effort to strike up a conversation and close the deal.
It might mean that they invite the decision-makers to lunch, call them to follow up and re-pitch (and re-pitch (and re-pitch)).
3️⃣ 44% of millennials don’t want to interact with a sales rep before making a B2B purchase
This is an Avengers-level threat. They are selfish with their time.
This is the reason why text-based marketing, like chatbots, works so well in B2B marketing and sales.
They need to know upfront the value they’re getting from your product before agreeing to a contract.
This is why your B2B customer journey should be filled with as much valuable content as possible. They want to consume explainer videos, case studies, and tutorials.
If you straight up ask for a call, BOOM, bounce!
4️⃣ 27% of people will abandon a form because it’s too long
B2C conversion is simple. You have the data. With the right messaging touching the right pain points, it’s a win.
In B2B, every additional form you add lowers your conversion rate. More fields = more time to complete the form submission.
B2B relies on lead gen and forms are crucial unless you solely rely on PQLs. This might sound like a small part of CRO. But it holds some weight.
