The Industry Transition from B2C to B2B eCommerce

Defining the Shifting Industry

B2B commerce was always seen as relatively separate from B2C commerce. Companies used to focus on only one of the business models. However, the internet and eCommerce has changed all of that. The commerce industry is fluid and organic as it grows alongside new industry standards, advancements in technology, and of course, trying to stay one step ahead of the competition.

Transition your business to B2B from B2C

Some businesses are transitioning from B2B eCommerce to B2C eCommerce, and some are moving towards B2B eCommerce from B2C eCommerce. Regardless of what business model you fall under, having an eCommerce solution in place is critical to the continued growth of your business. The transition can be a big B2B project that takes careful planning.

The B2B industry is continually expanding and evolving in eCommerce. In eCommerce, interactions between two businesses tend to be much more significant than an interaction between a business and a single consumer. Because of this impact, many B2C businesses are transitioning to a B2B business model or a hybrid option where they can cater to both audiences.

In 2015, Forrester Research forecast that U.S. B2B eCommerce would be approximately double the size of B2C eCommerce by 2020. If businesses are transitioning from B2C to B2B eCommerce, here are some things that they have to be mindful of.

Comparing B2C and B2B eCommerce

B2B and B2C eCommerce are not entirely unrelated. Both markets operate on similar principles and similar sale processes. Therefore, the purpose of both is to generate sales leads and convert them into sales. The leads are generated by driving traffic to the B2B eCommerce platform. The traffic is created by employing SEO best practices and improving the business’ visibility on the internet. However, they differ on many other points, such as:

Target Market

The primary difference between B2C and B2B eCommerce is the target market. B2C businesses are selling to individual consumers, while B2B businesses are selling to other businesses. All other differences between the industries arise from this. Due to the dissimilarity between buyers’ nature and needs, B2C and B2B businesses are structured and operate differently. This means that companies transitioning from B2C to B2B have to change how they service clients to stay relevant in the industry.

Customers

There is a mostly fixed pool of clients in B2B eCommerce. On the other hand, B2C companies have broadly varied customers. They are always targeting new potential consumers because B2C buyers usually only make a one-time purchase instead of B2B buyers. There are multiple sales cycles involved in the latter. Consequently, B2C sellers do not prioritize relationships and partnerships with clients as much as B2B sellers do.

B2B businesses want quality sales with loyal buyers more than they want quantity sales with several buyers. This is also the reason the vertical industry is so prevalent in B2B eCommerce. Specialized sellers in a particular niche have less competition. Therefore, they have more chances of attracting and securing buyers in their specific industry. B2B businesses can then make more sales and grow.

Sales Process

The what of the sales processes may be the same, but the how is different. B2B sales cycles progress differently. Business buyers generate more profits for B2B businesses. This is why a B2B business is more invested in a single transaction. Successfully selling to a business buyer means more revenue and more possibility of future sales to the same buyer. The decision making involved by buyers in B2B eCommerce is more complicated than in B2C eCommerce.

Sellers can cater to customers’ emotions in B2C eCommerce but not in B2B eCommerce. This is because there are multiple stakeholders involved in a B2B transaction. It is unrecommended to apply a marketing formula that is based on emotion rather than logic. Such marketing does not lead to sustainable success. Businesses hoping to transition to B2B eCommerce from B2C eCommerce need to tailor their model and business strategy to be successful.

On the same note, B2B businesses need to structure their B2B eCommerce platform and B2B eCommerce software to make the sale as smooth and straightforward for the buyer as possible. This involves servicing all the needs of business buyers while they contemplate their purchase. The prices and payment processes will also differ. Business buyers expect personalized prices and discounts while shopping. Businesses order in bulk and may have complex customization requirements, so B2B businesses need to have capable B2B eCommerce integration to handle such demands.

Marketing Process

B2B businesses use different marketing techniques than B2C businesses. They might use websites like infomediary sites to reach their target audience and drive traffic. B2B eCommerce is a complicated business system with interactions on multiple platforms. These platforms may include email or electronic documents on top of the primary B2B eCommerce platform, such as a broker site. The social media channels used may differ.

For example, a B2C marketplace or retailer is more likely to market a product on a medium such as Facebook or Instagram. Alternatively, businesses may be better marketed on a platform such as LinkedIn.

B2B sellers also need to collect and analyze business data to maximize productivity. The problem is that such data is not as readily available as consumer data required in B2C eCommerce. B2B businesses have to work around this. Additionally, B2B businesses focus on technology more than B2C businesses. B2B companies need to have more customized platforms and software. They need a useful user interface to interact with buyers.

The B2B software and technology used in B2B eCommerce needs to be functional, keep up with the unique requirements of B2B transactions, and be as user-friendly and resourceful as B2C platforms.

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B2C Tricks for B2B Businesses

Be purpose-driven. Businesses need to direct their efforts in B2B eCommerce with B2B software and marketing. They need to use analytics and take steps to form and solidify business relationships. Companies need to, therefore, market their products or services in the best way. They need to be sure of what they want to achieve in the specific marketplace (increase sales, or maximize productivity, or cultivate relationships) and act accordingly in an organized manner.
Assess the competition and apply relevant strategies. No businesses operate in a vacuum in B2B eCommerce. There is always competition present. This competition is striving to sell to the same audience as a B2B business. The only way to secure sales rather than letting competitors do so is by being better and applying relevant marketing strategies. A B2B business needs to modify its strategy to become a more reliable option for customers.
Focus on marketing and visibility. B2B businesses need to be visible on platforms to get leads and conversions. If they are not using SEO optimization practices or marketing right, they will lose out on potential buyers. The relationships needed to sustain a B2B business can only be formed if the business buyers can find out about the business through online channels.
Customer service is essential. This tip is the most important. Business buyers value support during transactions. They will return to sellers that cater to their unique needs. Therefore, B2B businesses should focus on making the sales process as seamless as possible with B2B software solutions. The more positive the buyer’s experience was, the stronger the business relationship will be. Ultimately, it will result in more return on investment than a B2C transaction.

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Transitioning from B2C to B2B eCommerce