Expanding into B2C Markets: How a B2B Company Achieved Conversion Rates by 32-40%
Have you ever wondered what it would be like for your B2B business to tap into the B2C market?
Well, that's exactly what I did over the last 5 years, and let me tell you, it was one wild ride!
But it was also a huge success story that I can't wait to share with you all.
Sales Funnel 101: The Key to B2C Success
First things first, it was all about the sales funnel. Every page on our website led to the quote calculator, which was a custom-built tool embedded in a wordpress backend. We experimented with gated and ungated access to the calculator and found that even with ungated access, our conversion rate for quotes still remained a whopping 32-40%.
Simplifying Pricing: The Key to B2C Growth
We also had to make some adjustments to our pricing structure, creating easy service packages and simplifying costs for complex calculations. But even an estimate of costs was good enough for clients looking for quotes, and we used tools like Pandadoc for online quotes and contract signing and Pipedrive as our CRM for the sales team. And I highly believe that this was the actual secret of our high sales conversion rate.
Paid Advertising: The Key to B2C Sales
We also used paid Google ads to target the ready-to-buy 3% of website traffic, which helped us set up a new lead handling process and hire a new sales closer with a proven track record in cold calling, appointment setting, closing and customer service.
Post-Sales Opportunities: The Key to B2C Lifetime Value
But it wasn't just about the technical side of things. We also made sure to have a good invoicing and payment process in place and adjusted our terms and conditions. And since our company was already established, we didn't need to offer big guarantees - our expertise and thousands of customer testimonials spoke for themselves.
We also made sure to think about post-sales opportunities for higher lifetime value, and even considered partnering and bartering with other companies to offer beneficial goods and services to our target audience.
Automations: The Key to B2C Lead Nurturing
And let's not forget about automations - we set up abandoned cart series to reactivate unfinished quotes, which had a 2% reactivation rate (which could definitely be optimized in the future).
What You Need to Know About B2C Growth
So, if you're thinking about taking your B2B business to the B2C market, here's what you need to know: it's all about constant iteration and monitoring of data to improve the lead handling flow, starting with a reasonable price that can be adjusted often for positive ROI, and understanding the end consumer of your service or product to create relevant content that also educates your B2B customers.
With these strategies in place, we were able to scale to multiple countries and continue to see success. So, don't be afraid to think outside the box and explore new markets - you never know what kind of success you'll find!
There is NO reason to postpone growth marketing!!!
If you are looking into turning your b2c potential into growth, book a FREE and unbinding call with me.
Let's see if we are a fit and how I could help you with strategy, concept and even with a setting up a focused team for you that can achieve the goals faster than your inhouse team.