Difference between b2b and b2c service
We are living in the age of corporate landscape where the emerging e- commerce business has grown by leaps and bounds. Big e-commerce site is growing 23% year-over-year, and the e-Marketer has predicted that the global e-commerce sales will elevate to $27 trillion in 2020. That’s a massive growth!
So if you’re interested in doing business online, you need to know the ins and outs of the e-commerce industry because the competition is getting tougher. When you are doing an e-commerce business, the first thing you need to do know is the E-commerce price analysis. It divides the e-commerce business into two forms of commercial transactions; business to consumer e-commerce (B2C) or business to business e-commerce (B2B). Both of the systems differ in scope, complexity, profit, and cost. So which one is more productive? Let’s find out.
This e-commerce price analysis of B2B and B2C will help you understand how the marketing strategies of these two systems can boost the revenues of your online business.
B2B buyers are professionals. You sell your product to fulfill a specific company need. The buying decisions are based on facts, logic, and finding the best product for the best price. It is not a whim; instead, it’s a need-based purchase. The buying schedules are often synced up with departmental needs, and the customers will go through a different purchasing methodology.
Whereas, in B2C, you sell the product to fulfills an emotional need. Motivation and desires drive the purchasing decisions. People will buy your product if your marketing strategy meets a pressing need. With B2C your website needs to be streamlined and more user-friendly. The users should not face any difficulty in adding products to the cart or experience a lengthy checkout process.
The B2B market has a higher tendency of knowledge to the product. B2B e-commerce focuses on features; you need to focus on what your product does and the substantial need it solves. You need to emphasize more on the features, instead of the advantages the business will get. You need to focus on the mindset of buyers what they will need to see while making a purchase and how ordering from you will help their bottom line while fulfilling a need.
B2C e-commerce focuses on benefits. As these markets are more emotional in nature, you need to cater your concern more towards the interests of the product. Your product’s message must be simple, and easy to understand. You will need to focus more on the end result of your product. With B2C you’ll take the time-tested approach for marketing, which is appealing to benefits, not features.
This e-commerce price analysis of b2b and b2c services will give you some insights that you can apply in your venture and amplify your e-commerce business to the next level.
Special thanks to our guest author : Iffat Tafseer