Decisive Differences Between B2B and B2C E-Commerce You Should Never Confuse
Is B2B more profitable than B2C? Originally appeared on Quora: the place to gain and share knowledge, empowering people to learn from others and better understand the world.
B2C and B2B are two different eCommerce module,
B2C stands for Business to Customer where products and services are sold directly to customers like a traditional retail business but online.
On the other hand, B2B stands for Business to Business which means in b2b e-commerce products and services are sold to other business mainly companies and other organizations.
Main differences in B2B and B2C are:
Decision Making
In b2b mostly decision making is done by a team, it’s very rare that there is a single person making decisions, which means there will be multiple people who need to approve sales.
B2C sales are faster as there is only one person who just needs to pull out their credit cards to make the purchase, is it easier than b2b because you deal with one on one with the customer.
Overall Buyer Experience
In b2c, a customer buys a product or service to fulfill his/her emotional needs. Motivation and desire is the most important factor for b2c purchase you just need to fulfill a pressing need to get sales.
In b2b, your product or service is fulfilling a specific company need, customers here are professionals who need those products of their work. Purchases are made based on facts and finding the required products at the best prices.
Short or Long Buyer Lifecycle
B2b buyers will purchase from you for a longer period as they will get a supplier which can fulfill their demands quickly. A repeat order is also a feature of B2b e-commerce system,
In b2c e-commerce, you want to be getting that many bulk or repeat orders but its good to have that feature in your store for the better buying experience.
Variation in Prices
In B2C markets the price is not hidden its always spelled out, and also there are no chances of price negotiations, however, one can provide special offers or discounts to their loyal customers to maintain their trust for the store.
In B2B, the prices are hidden until the customer creates an account, and the prices are negotiable depending upon the agreement made with the buyer, in b2b pricing policy is more complex than b2c.
Marketing Strategies
In B2C markets prime focus is on the product`s benefits, so you will have to make marketing strategies that will cater to that particular thing. You will focus on what will be your customer`s life with the product, you will be using a strategy that is fully focused on benefits which are a time-tested approach.
In B2B, it is all about the features, what need will your product fulfill? what will be the ROI? Is it the best decision to buy from you from a business perspective? these are the question of which you need to give a flashing reply to generating sales.
