Today is another day of LinkedIn unlocked, where I break down how to generate more followers, turn those business connections into leads and customers. And today we're going to be breaking down the third lesson of the week, which is B2B versus B2C. You can, in theory, use LinkedIn for a little bit of both.
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Now, before we get started, you have to ask yourself, are you in the B2B space or B2C space? And how to market each because that'll help you generate more sales. And we'll discuss, as I mentioned today, B2B versus B2C, and how you can use LinkedIn for both of them.
So selling B2C includes lower price points, shorter sales cycles, fewer decision makers, selling direct to the consumer. 95% of your sales would typically happen on your site or platform or in sales and you usually don't have too much interaction with people.
Selling on B2B is a little bit different. It's wholesale, distributions, large chain retailers, selling to organizations, much longer sales cycle, higher price points, and typically 80 plus percent of the time, you're going to be having to go through salespeople.
Since we've already covered marketing in the B2C space in the last few modules, this time around, we're going to be focusing on B2B. Now, granted, it works for B2C, but it's more effective in B2B and in general, it's just a really public social network that everyone should be using. So let's take a look at the typical B2B model.
Well, in business to business, you know, they could buy on your website, which is a fraction of the people. But in most cases, you're going to get a lead that turns into a discovery call. If the discovery call is qualified, it then goes into strategic plan or a presentation.
And then from there, it usually goes into a decision meeting. There's a lot of steps in between these five boxes, but that's usually how it ends up playing out and your sales cycle could be six months, could be one year, it could be two months or three months or even two weeks, but you'll find that there's a lot of different steps within these boxes, and the longer the sales cycle, the more followups, the more calls you'll have.
So with your call preparation, you need a goal for you. Your goal is to receive lead or confirm appointment. You want to match the prospect to ideal buyer profile. Is a lead, a qualified lead? What's your website, what's your budget? How many employees do they have? How big is that organization? Do they need a product or service that you're offering? You want to understand their business cause that'll help you determine if they're a good fit or not. Then the goal for the prospect.
They need to know what's in it for them, what benefits them by working with you. Then you have your homework.
In essence, your reps need to cancel bad or fake leads cause you're going to get them. I don't care what industry you are, you always get bad or fake leads. And you want to make sure you're going through all the leads to make sure they're high quality and you're focusing your time on the people that are super qualified that you shouldn't be closing.
So the discovery call. What's your goal for the discovery call? Well, it should be that you want to get to know them on a personal level. You want to understand what products they're interested in, and what issues and problems they have and how you can help solve them.
The goal for the prospect is to understand their own problem because if they don't understand their own problem, then you're going to have a bad first call cause they're not going to really know how you can help them.
All of that is super important and if you don't do this right, it's going to be harder to close these deals. So if you haven't done this, go check out the last lesson where I broke all of this down and you can find it at neilpatel.com/training.
Setting up a step by step approach to reaching out to influencers and connecting with them. And of course, case studies, so you get and a good understanding of who to follow, what you can learn from them and how you can replicate their results.
I want you to download and track your leads with the B2B Deal Tracker and I want you to download your B2B script and modify it based on your products or services.
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