The New Hybrid Business Model: B2B2C
In recent years, B2B2C has arisen as a new hybrid business model that expands B2B, a model based on commercial customers, into the customer-based world of B2C through e-commerce. The main purpose of this business model is to develop a mutually beneficial relationship between suppliers and retailers. The B2B2C model also allows companies to monitor the financial and corporate processes between commercial customers and consumers in real time.
B2B2C allows producers or manufacturers to establish new B2C marketing channels. Similarly, this business model helps B2C companies enhance their product variety. However, this model will be vulnerable unless supported by a digital infrastructure in the background. B2B2C requires a customer service management (CSM) software for stocking, product return, and delivery issues, a business process management (BPM) software for human resources and other such business processes, and a software to manage digital marketing and sales processes (CRM).
As the B2B2C business model is often extended to e-commerce, it is crucial that these CSM, CRM, and BPM softwares not create any additional IT costs, and they must be cloud-based. An omnichannel infrastructure should allow users to listen to customers on all channels and devise process management according to corporate rules and without depending on key individuals. Since digital marketing and sales are crucial in e-commerce, these departments should be able to monitor every step that current and potential customers make and formulate unique marketing strategies for each event.
Here, we have outlined the three critical aspects of this business model:
1. Do Not Let Your Customers Abandon You
Customer loyalty is a vital part of the business; it is hard to achieve but easy to lose. If your client can easily replace the goods or services offered by your company with those of another company, they might decide to part ways with you at the slightest inconvenience. The first step in achieving customer loyalty is, therefore, to make improvements in customer service.
Ensuring customer loyalty in your sales processes is just as essential to the health of the company as the products and services you have developed. Digital transformation in customer service should place the customer at the center to enhance competitive strength. This will prevent your workflows from being dependent on key individuals and help you achieve a more sustainable level of customer satisfaction.
2. Get to Know Different Customers
Traditional segmentation tends to be boring and to lead to corner-cutting. Difficulties in integrating or updating customer data, or eliminating inconsistencies, results in inefficient databases. However, you cannot market without data. The more up-to-date and editable your customer data, the more coherent your marketing strategies will be.
When provided with sufficient data and a manageable environment, marketing experts can analyze customer behavior by integrating customer data, transaction data and even metadata to develop unique strategies for each channel that will yield greater campaign returns.
3. Digitalize Business Processes with a Customer-Oriented Approach
Competition may necessitate that you make changes to your business operation methods quickly. However, it may take months or even years to completely adapt your business process infrastructure. In that case, it’s critical that you shorten your business development duration, lower coding and consultancy costs, promote rapid digital transformation and minimize costs. You must be able to design and operate your own processes and interfaces without having to write any code.
A Successful B2B2C Makes Everyone Happy
Healthy progress in these areas will enable the B2B2C business model to establish a mutually beneficial relationship between suppliers and retailers. This model can help producers or manufacturers create new B2C marketing channels while also allowing the B2C company to improve its product variety. Ultimately, this will nurture a purchasing culture that is preferred by consumers and create a platform that unites every actor in the marketplace.