In industries as diverse as ecommerce, events, edtech, retail and hospitality, businesses struggle to manage complex B2C processes and intelligence in parallel with increasingly important B2B processes and intelligence.
In edtech, that means selling SaaS products to teachers while engaging in a long sales cycle with the school district. In retail and ecommerce, the problem is to manage one set of processes for individual consumers who purchase products for their homes – and another for businesses that purchase products in bulk. In hospitality, the problem manifests itself as ensuring an outstanding customer acquisition process and visit experience for individual business travelers as well as company events.
Regardless of industry, the B2C challenge usually arrives first because of the larger pool of potential customers and shorter sales cycles. As companies grow and mature, the value and importance of enterprise clients represent a larger potential market with more consistent renewal rates, along with the internal resources available to invest in longer sales cycles.
As B2B grows in importance, a common set of questions arises for these mixed B2C/B2B companies:
- How do we acquire and monitor individual vs. enterprise leads through our sales funnel?
- What are the strongest indicators of individual vs. enterprise lead conversion?
- What are the pivotal points in the customer journey for individual and enterprise customers?
- What are the drivers of individual and enterprise customer renewal, retention, and repeat purchase?
- How do we develop internal processes that support both client types successfully without increasing overhead?
- How do we structure our data models to support internal processes with the information business owners need to grow revenue while increasing margins?
Obviously, processes for the sales, engagement and retention of individual and enterprise customers must be approached differently. This leads to difficulty structuring operational databases, CRMs, and ERPs that can manage both business lines.