In addition to B2B, B2C is currently one of the most popular commercial transaction models in our country. In particular, B2C is developing very strongly with the trend of e-commerce globally along with the explosion of online shopping forms. Please refer to the following article for tips on building a successful B2C business model for small businesses.
What is B2C?
B2C is an abbreviated term from the phrase Business To Consumer. So, with the question “What is B2C?” We can understand most simply this is the business model between the business (the source of supply) and the customer (the source of consumption). A direct transaction between a seller and a buyer without going through an intermediary or a distributor. Thus, businesses or companies that sell directly to consumers can be called B2C businesses/companies.
That said, most of the time this term is used more in the E-commerce industry. So most people often assume that B2C is the term used to describe transactions between sellers and buyers on online platforms. But as we mentioned above, selling directly to consumers – the final stage in product consumption – is considered B2C.
Perhaps, at this time, it will be more clear than traditional B2C or modern B2C. In the past, in traditional B2C, consumers would go to shopping centers, stores, and showrooms to shop directly. In modern B2C, just through the Internet, both sellers and buyers can conduct transactions easily and conveniently. That is, it is not close to having to meet face-to-face, even at the payment stage. Moreover, there are many incentive programs, discount codes, coupons on e-commerce sites to help you buy and sell more economically. . This business model, which began to become popular in the late 90s to mainly refer to people who directly retail products/services to customers and grow to this day with many other forms. together.
Tips for building a successful B2C business model
Marketing right customer needs
Marketing and promotion are the factors to attract attention and stimulate shopping very effectively. For B2C customers, experiences, trends, and reviews are all seen from a personal perspective. Especially for individual customers, shopping is influenced by emotions a lot, not by in-depth research and evaluation. Therefore, when doing marketing, we must hit them into the psychology and actual needs of customers in the direction of personalization. But so, businesses or B2C salespeople need to focus their marketing on the right needs, what customers need.
Build a customer appreciation promotion program
This is an extremely effective procurement stimulus strategy for the B2C model. When building incentive programs, giving discount codes, coupons for B2B models, customers are usually just a little more interested, but not sure if they bought because of discounts, coupons, or gifts… with B2C this happens very highly. Especially with the consumer psychology of people who like to shop, seeing discounts, promotions, and giving gifts are that people will love it and be happier when shopping. On the other hand, building a promotion program is also a way to retain and increase the next purchase rate very high.
Train staff in professional customer communication skills
Regardless of the business model, communication skills with customers are always essential. However, to improve this as well as revenue efficiency, managers should train their sales staff with professional customer communication skills. With customers shopping for personal needs, they are influenced by emotions a lot. If the salesperson has good communication skills, shows enthusiastic advice and understanding, of course, the closing rate will also increase quickly.
Connect with customers continuously
With B2C customers and especially with e-commerce business models, directly, connecting, or interacting is very important. 50% of customers will abandon your products or services if their needs are not met, and answer questions in the necessary time. Moreover, the majority of consumers today will often research information on your online sales channels in advance even if they end up going to the physical store. Therefore, it is necessary to have a customer care team, always ready to receive contact from customers.
Make the most of CRM software
Interacting with customers at the same time on many different sales channels with the limited staff has caused a lot of trouble for businesses. Not to mention, when more and more customer data makes manual customer care impossible, old customers don’t come back to shop much. Therefore, this is why your business needs to use integrated CRM software. This is a customer relationship management software that helps optimize the customer care process most effectively. Increase the rate of old customers shopping up to more than 30% and increase the closing rate up to 85%.
Combine convenient payment methods at the same time
Whether selling directly at a store or a mall, sellers still need to combine convenient payment methods at the same time. Because this era of digital technology develops, not only convenient shopping but also payment. Typically, payment by bank card, QR code scanning, payment via Internet Banking, payment by e-wallet, etc. Of course, if you have a store on e-commerce platforms, this is even more certain.
Build and strengthen trust with customers
Currently, modern B2C models, also known as online shopping, bring a lot of development opportunities for businesses, even increasing competition in the market. However, building trust with customers is much more difficult than traditional B2C, although it was not easy before. However, once you have successfully built and fostered trust with your customers, selling becomes a lot easier. Therefore, building and reinforcing trust with customers is a core goal that cannot be ignored.
Above is an article on tips for building a successful B2C business model for small businesses. Hopefully, the article will not only help you understand better but also give you an accurate assessment of the business model with this customer. Good luck.