Does your business need an app? About 51% of smartphone shoppers are more likely to download your company’s app if they know they’ll be able to get some type of bonus points out of it. Once customers download your app, it’s a lot more likely they’ll make repeat purchases. It’s another one of the joys of an e-commerce setup.
E-commerce sites allow businesses to have a global outreach without the physical overhead. However, you’ll have to create an airtight plan for success to get ahead.
When it comes time to choose between a B2B commerce and a B2C commerce setup, which is the right choice for you? Read on to find out.
What Is a B2B Commerce Platform?
What exactly is a B2B commerce platform? B2B, or business to business, describes the commerce transaction between a company and another operation.
Usually, the term refers to selling products directly to other companies. These products could be physical, such as office supplies or digital products.
Understanding B2C E-commerce
As you probably guessed, B2C commerce describes the transactions between a business and a consumer. Again the transaction can involve selling physical products directly to the consumers or providing them with some type of service. E-commerce simply refers to the fact that these transactions are taking place online.
Complexities of B2B vs. B2C Commerce
When it comes to B2B or B2C, is one of these situations better than the other? It depends on what your end goal is. Both situations provide a lot of opportunities.
For instance, B2B e-commerce tends to be more complex than B2C e-commerce. However, it can also be a lot more profitable.
Why is B2B commerce more involved? There are a few different reasons. B2B buyers will have to consult with multiple departments before making a purchasing decision.
You don’t have to worry about that hurdle when you’re marketing directly to a customer. Customers can usually make purchasing decisions on their own within moments of visiting your website.
Getting a hold of the decision-maker isn’t the only thing that makes B2B e-commerce more complex. You also have to create an entirely different strategy that takes a long-term approach.
B2B Works Best Longterm
As a business-to-business e-commerce site, you’ll have to be looking for long-term solutions. Businesses don’t want to buy a product or service that will not serve them in the long run. That means you have to prove to other corporations what it is about your company that makes it worth investing in.
You can expect your customers to be spending extra time researching and sourcing the top recommendations in their field. You won’t be able to take advantage of any type of impulse or emotionally driven purchases like you could with the business-to-customer approach.
High-Value Purchase
When dealing with the business-to-business e-commerce situation, the transactions are usually large. In other words, you’ll probably be dealing with top-value purchases in the thousands of dollars.
You’ll have to be on top of every purchasing transaction so that there are absolutely no errors. Any small mistake could mean losing one of your biggest clients! This takes us to our next point, B2B buyers tend to be repeat purchasers.
Repeat Purchases
For B2B e-commerce, you’ll usually have repeat customers. Your buyers have done so much research into your product that they’re not going to want to take their business elsewhere.
As a result, you’ll need to create a long buyer life cycle. You’ll need a strong account management system so that you can stay in touch with clients and encourage more purchases.
Remember, your B2B clients are making purchases for an entire company. They need to feel like they can trust you, even after making the buy.
Most Significant Benefits of B2C E-commerce
Instead of taking weeks or months to make decisions like a B2B consumer would, B2C consumers are swift to act. One reason is that B2C consumers usually make emotionally driven purchasing choices. They might be moved by the advertising on your web page, or perhaps they’re just trying to have some fun!
On the other hand, a B2B consumer will be driven by numbers and calculations, not emotions. There are about 8 emotions people experience. When you make yourself an expert at appealing to those feelings, you can take your company to the next level.
Thanks to your B2C e-commerce setup, you’ll have the opportunity to create the perfect marketing plan. With the right SEO strategy, you’ll be able to attract some of the best clients to your B2C commerce website.
Great Startup Solution
Will this be your first time starting a company? Then a B2C business setup could be the easiest choice. Since you’re a customer yourself, you’ll already be able to put yourself in the mindset of your buyers.
You’ll be able to invent and sell products that you know you would enjoy yourself. As long as your product provides some type of solution, you’ll be able to give the competition to run for their money!
Prioritize Your Message
When it comes to B2C marketing, branding should be your number one goal. The right brand logo will emotionally connect with your customers, motivating them to buy more.
The relationship between your company and the customer also needs to be memorable. The right brand will help you create a long-lasting memory that keeps customers coming back. One of the best ways to do this is by writing motivational copy that reaches your target audience.
Which Business Plan Will You Choose?
After reading this article, do you think you’re going to go for a B2B commerce or a B2C commerce setup? If you’re interested in the B2B route, you’ll have a long road ahead of you.
However, the payoff will definitely be worth the wait. To make sure you’re on the right track the whole time, let us help!
Here at 6Street Digital, we love helping people scale their businesses. As a certified Salesforce partner, we can give you the advice you need.
Success is just a call away. Contact us today, and let us show you how we can help with a FREE consultation.