Stages of the customer lifecycle

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Although the B2B sales cycle may be longer than B2C, the long-term rewards can be more significant. For example, customer lifetime value (CLV) is often much higher.

Experts identify CLV as one of the most critical metrics in B2B sales.

This makes sense when you consider the all b2c data included have work required to change the procurement process. Once a company has adopted you as a supplier, switching to an alternative supplier is laborious and complex.

Any changes in the supply chain can also cause disruptions. This can affect the company's profits and even cause it to lose customers.

All of this means that once you have acquired a new customer through a B2B network, it is most likely going to be a long-term one. Therefore, a successful B2B network can deliver high-value customers and long-term revenue if you wait for those conversions.

With B2C networks, the customer can move between multiple suppliers, potentially within the same purchasing session, without any friction. However, this does not necessarily mean that B2C customers cannot be transformed into B2C customers. old customers .

Assuming you provide customers with positive experiences, they may become repeat customers. However, they have the flexibility to switch companies at any time.

With this in mind, you may need to put in extra effort to retain B2C customers. For example, if your competitor is lowering their prices, you may need to organize a sale to keep your B2C converts.