The Best Marketing Strategies For B2B and B2C Businesses | B2B vs B2C
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The Best Marketing Strategies For B2B and B2C Businesses | B2B vs B2C


in this episode I’m going to be talking
about the two seemingly different campaign objectives of brand awareness
and lead generation what they are how they’re different and which one’s going
to be best for your business let’s get to it
hey there my name is Adam Erhart modern marketing strategist and welcome to the
modern marketing show where we help you grow your business by making way better
marketing so if you’re interested in learning the latest and greatest
marketing strategies tools tips tricks and tactics well you may want to
consider subscribing and hitting that notification Mel all right let’s talk
marketing objectives specifically two of my absolute favorite campaign objectives
one of which being brand awareness and the other being lead generation now
here’s the thing when it comes to these marketing objectives you see most
marketers tend to fall squarely in one camp or the other the brand awareness
people for example say that lead gen is too salesy and destroys the brand image
and reputation and the lead gen people say the brand awareness ads are useless
and don’t provide a real and concrete tangible return on investment that’s
accountable and trackable so which is the better option and more specifically
which one’s going to be right for you well I’m going to tell you exactly what
I believe at the end of this video but first let’s go over some of the key
differences between brand awareness campaigns and lead generation campaigns
alright so the very first thing we need to cover here is what exactly is brand
awareness you see when we’re gonna be running a brand awareness campaign it’s
important to kind of understand what exactly our objectives are what our
goals are what we’re seeking to achieve and probably most importantly how we’re
gonna measure this so at the end of the day we can deem whether the campaign was
successful or whether it wasn’t so in a nutshell and really in its most basic
sense a brand awareness campaign is really just how well people know your
brand or to put it literally how aware people are of your brand hence brand
awareness not very original but at least that explains it pretty clearly
now the reason brand awareness is important is kind of self-evident right
after all if people don’t know about you they don’t know about your brand well
how are they ever gonna do business with you but we’re brand awareness campaigns
tend to fall short is because there’s a big gap between someone’s simply knowing
about you and then actually going and doing business with you all that said
people and consumers and the customers that we’re trying to reach in this case
well they only have a limited to inventory for brand names or names in
general which means that you really want your brand and your business to occupy
that incredibly valuable real estate in their minds now one of the cliched
sayings is essentially you want to become the coca-cola of your industry
now the reason we use coca-cola as an example in this case is just because
it’s such a well-known brand that people actually ask for it by name this is the
same reason that some brands have become synonymous with the products that they
actually are good examples here are Kleenex or band-aid not really products
they’re actually the brands behind them but it’s rare that somebody asks for
tissue paper or a plaster or I don’t even know what the generic name for a
band-aid is let’s say a plaster yeah it just sounds wrong this is the reason
that you really want your brand to be really well-known so that it becomes
synonymous and interchangeable with whatever product or service or whatever
essentially that you’re selling to your market and the reason that they’re
deployed all the time and even by some of the more hardcore kind of Legion
advocates well they still recognize the importance of this aspect of a brand
awareness campaign and that is that people customers and prospects those
that you’re seeking to essentially sell to well they need a lot of touch points
in order to build that know like and trust factor that this is going to be
required to do business with you now the number of touch points that are going to
be required to build that know like and trust factor and in order to kind of
create a sale well it’s going to vary depending on your business and your
market and your industry but depending what statistic you read it’s somewhere
between six and twelve maybe 13 or 14 if you’ve got a higher price point thing
for sale or if it’s sort of a higher trust value industry things of that
nature basically if you’re selling a pack of gum you probably only really
need one touch point but if you’re selling something like insurance or a
home or business to business services well you’re gonna require a lot more
touch points regardless this is where brand awareness comes into play because
the more well-known you are and the more touch points that you make the more
trust that you’re going to be able to establish with your market also as
consumers we’ve been kind of subconsciously trained to associate
frequency with trust meaning that if you can show up more times in front of your
target market well they’re naturally more likely to trust you man therefore
it to do business with you now fortunately when it comes
touchpoints these can happen rapid-fire sure of course we’ve heard about how we
need to nurture relationships and it can take time to build that trust aspect but
for some people this can happen very fast really what you want to do is you
want to facilitate the journey so that it’s up to your consumer to decide how
quickly they want the relationship to progress as an example here you could
run a brand awareness ad they could maybe take some kind of action on that
ad on the very first try they might then download a guide or watch a video that
might then get retargeted with another ad and receive an email and then maybe
watch another video and all of this could happen in the span of maybe even
just a few minutes others on the other hand this could happen over a period of
hours of days of weeks of months and in some cases even years which is why it’s
important to continually drip or continually deliver more and more
valuable content and brand awareness type materials to your market now a
really important note here when it comes to brand awareness is you need to make
sure that the content that you’re putting in front of your prospects is
entertaining or educational or informative in some way and more
specifically that it’s on brand because you want to make sure that these touch
points that you’re making well they all line up with your brand so if you’re
sending all sorts of different and divergent and confusing messages none of
that brand awareness is going to carry over because you’re going to end up
confusing and possibly losing potential customers alright so now that we’ve got
that established let’s cover some brand awareness advertising metrics because at
the end of the day one of the biggest arguments against brand awareness is
that it’s not really trackable and you can’t really tell if it’s working or not
so here’s the metrics that we like to use in order to judge the effectiveness
or at least how many people are getting exposed to our potential message the
very first metric is reach reach covers how many different people saw your
message it’s a really good indicator of sort of how wide or how broad or how
narrow if that’s the method you’re choosing to use well it’s essentially
just a measure of how many different people are getting exposed or have the
potential to become more aware of your business the next metric is frequency
and this is how many times someone saw something now this one’s important
because again as we covered we do need to increase those touch points so by
keeping an eye on frequency we’re going to be able to tell how many times
someone is potentially seen your ad or your content or your message and the
last one impressions and this is simply just
reach times frequency so how many different people saw your message how
many different times and that gives you impressions and this is kind of the main
metric that people use when they’re looking at brand awareness campaigns how
many different impressions did we get and if we want to get more granular and
look at the budget side what’s our cost per impression so basically how much is
it going to cost us to get in front of our target market alright so now that
we’ve covered reach and frequency and impressions well let’s take it a step
further and really dial in how we’re gonna measure brand awareness because if
you’ve got an agency or someone on your team and they’re advocating just running
brand awareness campaigns but all they’re doing is really spending a lot
of money and you don’t have a lot of sales in return for that ah not a great
strategy on the other hand if you can actually track that yes this is working
more people are talking about us more people are trusting us they’re hearing
about us they’re liking us well eventually this is going to
correlate to more sales provided you’re making good offers and have a good
product market fit all the usual stuff alright so the first one we need to look
at is brand recall this is essentially how well people are gonna remember your
name now really hard to go out there and
survey all of the potential people and say what’s the first brand you think of
when it comes to cars or drinks or services or whatever it is on the other
hand what you can do is simply take a look at your Google Analytics data for
your website and see how many people are coming to your website Durant this is a
good indicator because it means that somebody is actually put in your name or
your brand name in order to get to your website and how are they gonna put it in
if they’ve never heard of you right that’s why brand recall is one of my
favorite ways to look of overall brand awareness campaigns and making sure that
this is increasing over time another good way to do this is with another
Google tool using Google Trends and tracking the mentions or basically how
many times your brand is mentioned on social media or across the web and again
we’re looking for here is an upward trend in those number of mentions made
again clearly indicating that more people are talking about you and
therefore more people know about you this next one’s a little more advanced
but it involves search volume and essentially if your brand starts
becoming a targetable keyword meaning that people can bid against it on google
ads or it’s showing some kind of search volume on the search engines well this
is a good sign that again more people are searching for you and
your brand is actually becoming so valuable that people are willing to bid
against it in order to rank above you for your own brand sounds frustrating
actually if someone’s willing to bid against your own brand but it’s actually
kind of cool because it shows that you’ve really solidified a position in
your consumers minds Plus for what it’s worth it’s going to be really hard for
someone else to rank against your name so as long as you do proper optimization
and make sure that you’re continuing to market your business well you should be
okay lastly we have things like vanity metrics now vanity metrics are easily my
least favorite metrics of all these are things like likes comments and shares
basically things that make you feel good and make it look really good but I don’t
really relate to more sales or more customers or more leads or more revenue
for your business that said as a brand awareness thing now they’re not too bad
because more likes more comments more shares means more engagement and more
engagement typically means that more people know about you and are talking
about your business alright so why do the brand awareness camp and the lead
generation camp why don’t they get along and what is it about brand awareness
that the lead jenner’s just don’t like well for starters attribution with a
brand awareness campaign is a little trickier after all it’s really hard to
figure out where exactly that sale came from where it originated and what
factors were in place in order to deliver the sale and if you can’t figure
out where the sale came from or what’s working and what’s not well then how do
you know what part of your marketing you should do more of and what part is
completely useless and you should just stop doing altogether the other problem
that lead-gen has with brand awareness is that brand well they do recognize
that it is a valuable asset does take a long time to build which means that
you’re gonna have to put in potentially a ton of time a ton of money and a ton
of energy into creating content running brand awareness campaigns and all of
these things that are going to help to build trust and people being more aware
of your business but don’t necessarily equate to short term sales which a lot
of businesses are governed by alright so now that we’ve got all that covered
let’s dive into lead generation as a campaign objective alright so first
start is what is lead generation or lead gen as it’s more commonly known well
essentially lead gen is just attracting and converting people who have no idea
who you are or may not have heard about your business and converting them into
prospects and people likely to do business with you basically if brand
awareness is generate more awareness for your brand well lead
generation is generating more leads for your company basically again the name
kind of implies and says exactly what it is now lead gen is typically done by
providing something of value to your prospect or potential customer in
exchange for their contact information which allows them to become a lead now
the first thing you need to understand when it comes to running an effective
lead generation campaign is that nothing happens without a good offer all the
touch points in the world simply don’t matter if the touch points that you’re
making aren’t irresistible enough or they don’t incentivize your prospect to
take action and hand over their contact details at the end of the day whether
people buy or not isn’t simply because they’re aware of you it’s because they
like the solution that you’re proposing they like the offer they like your
product or your service or your business basically they like what you can do for
them not just the fact that they know you we all know somebody that we really
like but we’re not exactly going to hire them to do important tasks if we don’t
feel they’re up for the job now just like with a brand awareness campaign the
touch points required and the funnel as we call it with lead generation
well the funnel or the steps that someone walks through these can happen
rapid-fire as well for example they could see the ad they could hand over
their contact information they could be retargeted moving them further down the
funnel and basically move them closer and closer to a sale and all of this can
happen very quickly all right so if lead generation is all
about generating leads by essentially providing something of value to your
potential customer in exchange for their contact details well what are some of
the metrics you want to take a look at to make sure you’re on the right track
well one of the first things you want to look at is CTR or click-through rate
this is basically showing how many people saw your ad and then clicked on
it in order to take action basically indicating that it was interesting and
relevant to them the next metric is CPC or cost per click this basically tells
you how much it’s going to cost you every single time someone clicks on your
app the next metric is conversion rate and what this shows is of the people
that clicked how many people actually went all the way through with the action
by handing over their contact details in exchange for whatever you were promising
finally we have CPA or cost per acquisition and this is probably the
most important metric of all when it comes to lead generation because it’s
the cost that you’re going to end up paying in order to acquire a lead now
how much you can afford to pay to acquire a lead is going to depend on
a number of different factors but most importantly is going to be the lifetime
value of your customer for example if you’ve got a customer that’s worth 10
bucks over their entire lifetime well you’re obviously not going to want to
pay more than 10 bucks to acquire a lead and that’s assuming you have a hundred
percent conversion rate by turning that lead into a customer on the other hand
if you’re selling a product or service for ten thousand twenty thousand 50
thousand dollars well paying ten bucks the lead sounds cheap might even be
willing to pay 20 bucks or 50 bucks or maybe even 100 depending on how fluid
and how greased-up your funnel really is at converting them from lead to paying
customer all right so how can you measure the effectiveness of a lead
generation campaign well fortunately when it comes to measuring lead gen
compared to brand awareness it’s actually really easy essentially all you
need to know is are you acquiring leads for an acceptable cost meaning that
you’re profitable or are you not and you’re paying too much meaning that
you’re losing money being profitable is good losing money is bad it’s that
simple with lead generation by tracking things
like click-through rates and conversion rates and cost per acquisition while all
of the data is easily accessible and really easy to read meaning that making
decisions is a lot more strategic and therefore a lot easier to make the right
ones for you and your business all right so what is it about lead generation that
the brand awareness people just don’t like after all we’ve just painted a
pretty clear and compelling picture of why lead gen sounds like a pretty good
strategy well the biggest problem with lead gen from the brand awareness
perspective is that legion has really focused on the short term and the short
term alone we’re brand awareness is seeking to build a brand and really
create an asset around your business lead generation tends to just be focused
on the short win acquiring leads getting as many as you can for as cheap as you
can and converting them into customers with little appreciation for building
that longer-term and more sustainable brand in business okay so now that you
know the key differences between a brand awareness campaign and a lead generation
campaign which one is going to be best for you and your business well the
answer there really depends on what type of business you’re in and whether you’re
in a business to business or b2b type industry or whether you’re doing a
business to consumer or b2c business meaning you’re selling direct to the
consumer first up we have the business to consumer or b2c type business now
typically brand awareness campaigns are going to be a lot more prevalent
in this type of industry because it’s going to tend to apply with a more
mass-market appeal basically the goal here with a b2c and with a brand
awareness type approach is to reach as many of your ideal target market as
possible with a fun and memorable and on brand piece of content your focus here
is going to be less on collecting the names and emails and contact details of
your specific customers and more essentially on carving your name and
your brand and your business into their minds so that you become the most
relevant and the most memorable brand that’s going to be associated with your
industry a key thing to remember is that repetition is key here so you really
want to focus on those touch points by ensuring that you’re constantly showing
up in front of them in as many relevant and strategic ways as possible and on
the flip side of that while repetition is important so is novelty so you want
to keep things fun fresh and exciting and make sure that the content you’re
producing is relevant and memorable because the only thing worse than
showing up a million times is showing up a million times with a completely bland
or boring or vanilla message that’s a great way to waste money all right so
now let’s talk about b2b or business-to-business where légion tends
to be the method of choice the reason lead generation is the preferred method
for business-to-business markets is that you’re dealing with a significantly more
limited and more targeted and more narrow focus part of the market
basically we’re not trying to go for a mass market appeal here because it
simply wouldn’t make sense because we just don’t have that many of our
targeted buyers out there in the real world on the other hand we have a few
very carefully selected business-to-business leads that we want
to require and bring into our funnel b2b also typically involves a more
relational style marketing approach rather than a transactional style
approach again we’re not selling a pack of gum here or a t-shirt or anything
like that we’re involved in complicated and often long-term and very expensive
purchases that are going to be long-term and ongoing relationships for this
reason it pays to acquire lead so that you can continue to nurture them again
and again and again over time with relevant and valuable and helpful
information also brand awareness is much less of a consideration here because
again we don’t need everyone to know about us
so we don’t necessarily want awareness we want consideration and more so we
want conversion and ideally you want it fast which means providing some kind of
irresistible offer or valuable content in exchange
for your prospects contact information so which one is best well inside our
marketing agency we use both brand awareness and lead generation campaigns
on a daily basis for both our b2b and our b2c clients also as I just touched
on there if it’s a b2b client we tend to err more on the side of lead generation
and if it’s a b2c client we tend to err more on the side of brand awareness that
said if I had to pick an absolute winner of which one I prefer nine times out of
ten well it would have to be the lead generation side because I really like
trackable accountable and measurable marketing campaigns the reality is
whether you’re b2b or b2c investing your time energy and resources in a
measureable trackable and accountable marketing strategy is going to be well
worth it and will provide a significant return on investment alright the next
thing you’re going to want to do is check out the video I have linked up
right here which is going to be released next week it’s part of this b2b versus
b2c series and it’s going to give you even more actionable and practical tips
that you can use to immediately deploy in your business so make sure to check
back next week for that video thanks so much for watching and I’ll catch you
next time on the modern marketing show

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