B2B2C Winning Strategy: How to Build Lasting Relationships with Consumers
Many industries know what B2B or B2C strategies are but when it comes to a business-to-business-to-consumer concept, things may get slightly muddied. So, what is the B2B2C business model? A B2B2C model - or business to business to consumer model - is essentially when a company indirectly reaches a consumer through another company rather than reaching the consumer market directly. Although the consumer market will recognize the company using the B2B2C model more than they are likely to know the in-between business. For example, a consumer can buy a product from Target where the product is then given to UPS to then be delivered to the customer. Although UPS was the connecting factor between both parties, the customer recognized Target as the original company they were interacting with.
For startups, the B2B2C model and sales strategy can be greatly utilized for a virtual launch amidst the pandemic. In this article, we will discuss how brands can adapt and market their own B2B2C models in eCommerce methods in the COVID era.
Over 62.7 million orders have been made online since the start of COVID-19. With this factor in mind, it’s been crucial for companies to prioritize their delivery services, specifically when recruiting a second party source to get their inventory to their consumers. Google in fact, as a start-up was considered a B2B2C that communicated its channels through AOL.
In the Covid era, startups have even more of an obstacle to overcome than in previous times. Companies considering going through a second party or company can help bring credibility to the brand itself and allow them to organically create a great relationship with markets. Another positive of using this strategy is the ability to offer more products, services, and allow your business to widen its portfolio since connecting with another company. This can also contribute to price convenience when distribution for B1 and B2, and overall allowing for economic growth and expansion with access to the other business’s audience.
As for the challenges of B2B2C marketing, strategies may not always keep up with the data needed on consumers for the first company in this process. The chain in a B2B2C marketing model is lengthened, meaning if the second party had not initially started gaining data or collected different information, businesses will be out of luck when it comes to creating stats for future operations. Along with this, the first company could still be held reliable for any inventory that consumers said had issues, as the middle company can not really be held accountable since the customer was initially buying from the initial business.
B2B2C Marketing Strategies
All different fields of startups from eCommerce manufacturing, retail, and delivery, or digital services can greatly benefit from the use of a B2B2C marketing strategy. If implemented correctly, this approach can help your small business sore in sales and gain visibility during covid-19 when things are particularly challenging. Without a doubt, starting a business can be challenging but by following some of the tips below, B2B2C marketing methods will help your business get on its feet:
Keep Track of Data - It’s important your business keeps track of its consumer data, as well as, great communication between B2. If B2 has its own method of collecting data, your business should clearly understand their approach and see if there is any valuable information your brand can collect. Data is a great way to learn consumer trends and learn more in-depth information about your audience that can be utilized for later campaigns and selling methods.
Customer Experience - Everything on your B2B2C eCommerce website should be functioning to its full capacity, which entails loading speed, page structure, and the overall aesthetic of your site. Consumers should also be able to swiftly search for items, place an order, and make a purchase without any confusion.
Localization - With the bonus of B2B2C widening your audience and reach, it’s still important to remember that customers could be coming from all different parts of the world. Your brand should think of using localization technology for seamless deliveries, an interface with multiple language options, and correct currency and pricing.
Cross-Selling - Working with another business gives your company the potential to cross-promote and sell products. Not only is this a great approach to upselling but also gives convenience to customers with suggestions of additional products they may need or want on your B2B2C eCommerce site.
Salad Box - Foodchain restaurant Salad Box uses the B2B2C strategy to reach customers through the digital delivery service Seamless. Not only does Seamless offer discounts on Salad Box’s menu, if a consumer was to buy from them, but in exchange, Salad Box offers specials related to Seamless’s services and fees.
Amazon - A powerhouse omnichannel source businesses can sell their products on is Amazon. Manufacturers can even ship their inventory to Amazon who then will ship it out to consumers who have purchased their products. An added bonus is the credentials that Amazon brings to companies that sell off of its platform, as Amazon itself is a trusted brand with an exponential audience.
Manufacturers and Brick & Mortar Dealer - In general, any manufacturer that produces inventory that eventually is sold in a brick and mortar shop can be considered as using a B2B2C strategy. The manufacturer can be identified as B1, brick and mortar dealer as B2, and a person that walks through the door and purchases an item customer.
Your company taking on its own B2B2C marketing strategy, your brand should most definitely perform research on potential businesses to create a bond with. Depending on the field your company falls in could determine which businesses could be best to work with. Overall, for startups learning and adopting their own B2B2C marketing strategy will give them a great advantage over their competitors.