B2B (business to business) or B2C (business to consumer) are common ways of classifying business relationships and commerce transactions. Recently there are more categories we can add, namely P2P (peer to peer) or H2H (human to human). No, we aren’t befuddling you with molecular structures from chemistry classes of yore – these are real terms.
As such, P2P has gained traction in lending, fundraising and networking, effectively changing the way people and businesses communicate. Think of P2P platforms like Etsy or eBay – these are examples of people dealing and trading with people, not necessarily a conglomerate. This represents a great deal of opportunity for those who can take advantage of this new commerce space. Specifically, business and marketing professionals can learn a thing or two from the P2P’s. Let’s dive in:
It’s All About People
No matter what type of industry you’re in, you deal with people. (Most of the time – there is the occasional gecko selling insurance.) It has become nearly necessary to make those personal connections as best you can. Understand your audience on a human level by considering feelings, emotions, needs and wants. Given the speed of the digital technology in an increasingly online world, it’s more important than ever for an organization to show a little – or a lot – of humanity.
Fortunately this is entirely possible in our now highly interconnected marketplace. Digital media and careful marketing techniques can provide a complete profile of your customer in real time. This allows companies to better predict what customers need and understand more accurately what they want.
One way to accomplish this is by creating effective P2P (or H2H) channels to enable dialog. Not just for broadcasting – although a tidy benefit – but the primary goal is to listen and learn from those you are trying to connect with.
Can I Automate P2P (or H2H) Marketing?
Building trust is what marketing is all about. Marketers are already at a disadvantage, as customers tend to trust other customers more than businesses themselves. In fact, customers trust peer-to-peer recommendations a whopping 92% more than advertisements or recommendations provided by companies. Therefore, it is important to build an effective digital marketing platform that integrates people, technology and business. As a result, businesses can directly reach target markets and connect with influencers who were previously blocked by gatekeepers or powerbrokers.
The ultimate struggle for organizations is to determine how to reach the individual person and do it at scale. Fortunately new technologies have opened an abundance of new possibilities, which we can help you with.
Tips from the Pros
Don’t complicate communication strategies – keep it genuine and simple. Think of it like a one-on-one conversation – what would you say if your customer were standing in front of you? While you are carefully crafting your marketing communications, be transparent, inspiring, educational and especially, entertaining! Just like people, when organizations are approachable and easy to interact with, you win more promoters who are more likely to recommend you, and eventually buy from you.
The goal is to demonstrate that there is a real and honest team of people behind your brand. You aren’t the big heartless corporation who couldn’t care less about the little guy. You care! And your customers care. Talk about what matters to your followers and target your markets as individuals. When you’re reaching out in a genuine manner and invest your time in getting to know them, they are much more likely to invest in you.