CRM B2B and B2C: the difference and what managers should know

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There are many enterprises that are struggling with customer information management or customer retention. In the current economic situation, enterprises have to emphasize on customer relationships (CRM) due to the existence of many other competitors. This post is some suggestions for enterprises with the aim of tackling problems in sales management.

Table of Contents

Definition of CRM

CRM or Customer Relationship Management means building and maintaining the relationship with customers. It is a business strategy focusing on combining three elements: human, process and technology in order to figure out their behaviors.

It is a method for enterprises to interact with customers in a more organized and effective way. By collecting information related to customers and their behaviors, enterprises can evaluate and bring out strategies with different objectives. Thanks to that, enterprises can better communicate and manage customers.

The emergency of CRM

CRM is no longer a new term and is globally used by international enterprises. In Vietnam, this trend has been popular for about the past 5 years and is expected to keep increasing in the future.

Overall, by logically collecting customers’ information, enterprises are able to find and synthesize data about customers’ habits. Being an important factor in the era of information and technology, CRM’s purpose is to optimize customers’ value through building, developing and maintaining relationships with customers and laying the base for the sustainable development of enterprises.

The difference between CRM B2B and B2C

Process

B2C has a large number of customers and the buying process is quite simple; therefore, enterprises do not need to exploit all the information in that process. Some data is considered to be useful is: channels, customers’ preference or factors influencing behaviors.

On the other hand, selling B2B has a more complicated process. Buying process includes many steps and requires much evaluation and consideration. For this reason. enterprises should spend time on developing the connection with customers.

Customers segmentation

One major difference between B2B and B2C obviously is customers. Individuals and cooperates lead to certain differences in discovering customer psychology. For B2C, it is much easier to create relationships with customers. However, more effort is needed in B2B.

“One customer” in B2B includes more than one, in fact. It is because there are many people who contribute to the decision. Hence, it is crucial to find out the “true customer”. And often, this process takes quite long. A popular method is “selling tunnels”. Deeply understanding this model and optimizing all databases can be a strength for enterprises.

Objectives

While CRM B2C focuses on the whole picture and figuring out customers’ behaviors, CRM B2B is more aware of each individual customer. Customer relationship management in B2B emphasizes storing data and developing connections with customers during and after projects.

Apply software in CRM

Some Vietnamese enterprises have consciously applied technology in business. Especially with the customer-driven trends, many companies has used CRM software. Here are some benefits of using CRM B2B software.

Information-organized ability

An advantage of software is the ability to store and sync a large amount of information. Every information stored in software will be classified and organized logically, which allows people to manage and find information easily. For instance, digiiCRM of OOC has the function of storing data according to deals, contacts or purposes; therefore, users can follow old contracts or companies’ representatives.

Contract overview

On software, users are able to see which contract is recently started or finished, and which one needs to be promoted. Moreover, software allows users to find out the hole in the selling process. For example, in which part of the process enterprises often lose their customers. By doing so, enterprises can adjust their sales or marketing strategies in time.

Data visualization

Besides individual contracts, what enterprises care the most is profit. A good management software will automatically collect data and summarize needed data. digiiCRM software illustrates total profit in expectation and reality, profit according to regions, etc. Thanks to these figures, administrators can conclude about a company’s performance or draw customers’ portraits.