Every single entity is becoming online and the technology is growing steadfastly. We can order whatever we wish to acquire with just a click while resting on our sofa. From food to electronic goods, everything can be purchased online. However, have you ever wondered how it all came into existence? Where it all started? Well, you will know soon!
What is it?
E-commerce refers to any type of online commercial transaction. Online shopping, which is defined as the purchasing and selling of items through the internet on any device, is the most well-known example of eCommerce.
E-Commerce, on the other hand, may encompass a wide range of activities, including online auctions, payment gateways, online tickets, and internet banking.
What are the Different E-commerce Business Models?
B2B, B2C, and C2C are the three most common eCommerce models depending on the type of participants participating in the transaction. These business models can be summarised as follows:
1.Business to Business (B2B):
From one company to the next B2B eCommerce, or business-to-business eCommerce is an online business model that refers to transactions between two businesses rather than between a corporation and individual customers.
What are the Different E-commerce Business Models?
B2B, B2C, and C2C are the three most common eCommerce models depending on the type of participants participating in the transaction. These business models can be summarised as follows:
1.Business to Business (B2B):
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| Image source - indianretailer |
From one company to the next B2B eCommerce, or business-to-business eCommerce is an online business model that refers to transactions between two businesses rather than between a corporation and individual customers.
B2B eCommerce is most commonly used to enable transactions between a manufacturer and a wholesaler, or a wholesaler and a retailer.
How Does B2B Differ from B2C?
The main distinction between B2B and B2C models is that B2B transactions take place between two organizations, whereas B2C refers to selling directly to individual consumers. The following are the areas where these models differ the most:
The Purchasing Procedure:
A B2C transaction is generally significantly easier and shorter than a B2B transaction since it includes one consumer making a buying choice based on their unique needs.
How Does B2B Differ from B2C?
The main distinction between B2B and B2C models is that B2B transactions take place between two organizations, whereas B2C refers to selling directly to individual consumers. The following are the areas where these models differ the most:
The Purchasing Procedure:
A B2C transaction is generally significantly easier and shorter than a B2B transaction since it includes one consumer making a buying choice based on their unique needs.
A B2B purchase process is significantly more complicated than a consumer purchase process since purchase decisions entail more money and risk, and are typically made by several stakeholders
As a result, completion might take days, weeks, or even months.
Brand loyalty:
In a B2B scenario, brand loyalty is a critical component of the sales process, since businesses prefer to seek long-term commitments when engaging with other businesses and cultivating revenue-generating partnerships.
In a B2C context, on the other hand, brand loyalty plays a considerably lesser role in the sales process since the value of a transaction is considerably lower and customers have a wide range of other possibilities.
Product knowledge:
B2B clients are often better informed about the items or services they are purchasing due to the scale of the investment they are making. B2C buyers, on the other hand, have a limited understanding of the goods and are more likely to make impulse purchases.
Marketing?
Companies who want to sell their products to other businesses use B2B marketing. It is generally feature-driven and focuses on a product's value and rationale.
Customers are more detail-oriented and information-seeking, which is why the most effective B2B marketing tactics focus on offering in-depth, educational material that helps decision-makers identify the best answers for their challenges.
What Are the Best B2B Marketing Strategies?
B2B consumers care a lot about logical reasoning, financial rewards, and solid facts.
Marketing success, after all, is based on supplying useful material to the industry and making a product appear like a logical decision. The following are some of the most common B2B marketing strategies:
As a result, completion might take days, weeks, or even months.
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| Image Credit - ecomsultant |
Brand loyalty:
In a B2B scenario, brand loyalty is a critical component of the sales process, since businesses prefer to seek long-term commitments when engaging with other businesses and cultivating revenue-generating partnerships.
In a B2C context, on the other hand, brand loyalty plays a considerably lesser role in the sales process since the value of a transaction is considerably lower and customers have a wide range of other possibilities.
Product knowledge:
B2B clients are often better informed about the items or services they are purchasing due to the scale of the investment they are making. B2C buyers, on the other hand, have a limited understanding of the goods and are more likely to make impulse purchases.
Marketing?
Companies who want to sell their products to other businesses use B2B marketing. It is generally feature-driven and focuses on a product's value and rationale.
Customers are more detail-oriented and information-seeking, which is why the most effective B2B marketing tactics focus on offering in-depth, educational material that helps decision-makers identify the best answers for their challenges.
What Are the Best B2B Marketing Strategies?
B2B consumers care a lot about logical reasoning, financial rewards, and solid facts.
Marketing success, after all, is based on supplying useful material to the industry and making a product appear like a logical decision. The following are some of the most common B2B marketing strategies:
- Educational webinars.
- Whitepapers, eBooks, and manuals, for example.
- Thought leadership.
- Case studies.
- Video testimonials.
- Native advertising.
- Marketing automation and CRM tools.
- Trade shows and networking events.
What is B2C eCommerce?
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| Image Credit - arenasoftwares |
A commercial transaction between a business and an end consumer is referred to as B2C, or business-to-consumer. Traditionally, the phrase is related to the practice of selling things directly to customers, such as shopping at a store or dining out. It now refers to transactions that take place between internet sellers and their clients.
B2B eCommerce refers to the practice of selling directly to individual clients, whereas B2C eCommerce is an online business model that permits online sales transactions between two firms.
An online store selling office equipment, for example, is a B2B company since its major target market is other companies.
B2B eCommerce is a more complicated procedure that facilitates transactions between wholesalers and retailers or manufacturers and wholesalers. Someone buying shoes online or renting a pet motel for a dog is an example of a B2C transaction. Most folks are probably familiar with this model.
Some firms are both B2B and B2C in nature.
Benefits of B2C eCommerce:
The biggest advantage of B2C eCommerce is its worldwide reach. Customers on the opposite side of the world can buy from tiny firms working out of their homes. This ability to sell to anyone, anyplace ensures that success is a foregone conclusion.
There are no physical overheads:
In-store purchases, in which consumers must visit a physical store to acquire something from a brand, have dominated B2C. Management can reduce overhead costs by incorporating an eCommerce component into the firm.
More data for customer profiling:
When you take your company online, you gain access to more data about your customers and more options to reach out to them directly. Using analytics solutions like Google Analytics, you may learn about your customers' demographics as well as psychographic information like their hobbies and values.
Consumer to Consumer (C2C):
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| Image Credit - ehelperteam |
C2C is a relatively new business concept in which customers who have previously purchased an item try to resell it to another customer. This can be simple and profitable when using markets like eBay and Craigslist to sell stuff you no longer need.
Types of Customer to Customer (C2C) Businesses:
Craigslist:
Craigslist is an online marketplace that links people who want to sell their goods, services, or situations. Craigslist not only offers a marketplace for buying, selling, and trading goods, but it also publishes classified advertisements on a monthly basis, such as job openings and real estate listings. This platform requires the vendor to personally deliver products to the customer.
Etsy:
On Etsy, business owners can construct their bespoke websites to sell their products to customers. The C2C site provides advice and tools for building a business, with prices varying depending on the stage of development. There's also a "Sell on Etsy" app that makes it easier to keep track of orders, listings, and customer inquiries.
Ecommerce has evolved to the point that it has tremendously changed the trading techniques and paved the way to a lot more solutions for merchandising.
There is much more to learn about e-commerce architecture, but I am afraid it’s not enough to cover in just a single article.
Henceforth I’ll be back with another article on the same.
Written By - Kirthiga Morais P
Edited By - Daniel Deepak Charles
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