B2B2C, B2E, B2X, DTC: it might look like a jumble of letters and numbers, but what it means is a bigger pool of buyers for B2B companies. Here are five essential ingredients for your strategy to expand your audience and see your sales soar.
But First: Why B2B2C?
More than 40% of all manufacturers are expected to sell directly to consumers (D2C or DTC) by the end of the year, which translates to 71% growth. What’s driving this rapid change?
In short: B2B2C lets you cut out the middle man. By selling directly to consumers you are able to bypass the supply chain. This lowers your costs, and lets you offer lower prices to your consumers. Everyone benefits.
And B2B2C benefits don’t stop at the bottom line.
When you think of your company’s most important assets, what’s the first thing that comes to mind? Depending on your operations, it could be anything from your production facilities to your most skilled employees. But is your brand included in that list of essentials?
Because it should be.
A lot has been written about millennials. If you believe the headlines, they’re killing bar soap (among other things) and unable to buy houses due to their love of avocado toast. But in between all these occasionally odd claims about the generation born between the early 1980s and mid-1990s, there is one undeniable truth: growing up with the internet and related technology means that they think very differently about brands than Generation X and baby boomers.
Millennials are used to communicating directly with brands. Social media, email, chat, and personalized advertising: interacting with brands rather than resellers is the most natural thing in the world.
By selling directly to consumers, you have more control over how your brand is presented and how your audience interacts with you, strengthening your brand and further cementing it as one of your most powerful assets.
There are plenty of good reasons to make the switch from B2B to B2B2C, and one easy way to do it: e-commerce. Here are 5 tips to help you create a rock-solid B2B2C strategy and an enviable consumer web store.
1: Prioritize an Excellent Customer Experience
Competing with businesses specialized in selling to consumers might seem like a challenging or even impossible task for a B2B company like your own. This doesn’t have to be the case if you deliver a great customer experience with your B2C web store — and doing so is easier than you might think.
Here are the key factors for making sure your web store delights consumers:
This means that a web store that works perfectly on all devices is a crucial component of any successful B2B2C strategy — and will only become even more vital in the future.
3: Take Your Web Store International
Why settle for expanding to consumers in a single country?
Localizing your marketing materials, web store content and documentation is a great way to get more consumer eyeballs on your online sales portal. However, that’s just the start: you also need to make sure you can offer the right tax calculations and shipping arrangements.
A good web store helps consumers find the products they’re looking for. A great web store also helps them find the items they didn’t even realize they needed.
Make sure your web store can display related items on product pages. This could be useful accessories, but also more high-end versions of the product the consumer originally searched for. This is particularly relevant if you sell complex items and products that are often grouped with other products — think, for instance, of automotive parts or electronics.
This will help your clients find the best possible product for their purposes, while also benefiting your bottom line.
5: Go for Integration
This is a bit of an umbrella tip, as it makes it easier to put tips 1 through 4 into action. Using an integrated e-commerce solution lets you leverage the invaluable information stored in your ERP system. The result: a powerful online sales portal that provides all the product information consumers need, without sacrificing speed or usability.
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