Business-to-Consumer Sales – Business Relationship, Interaction
Business-to-Consumer sales are businesses or transactions carried out directly between a company and the consumers who are the end-users of its products or services.
Highlights of Business-to-Consumer Sales
1) Interaction with Average Consumers:
- The B2C consumers tend to make purchases based on how a brand creates an emotional connection. Therefore, most B2C communications appeal to the consumer’s wishes and value systems.
- One or two people usually make different B2B B2C sales decisions. When a consumer buys B2C goods like food, cell phones, cars, etc., it is not about what it can do for me, but how it makes them feel.
- It is why emotion-driven or emotion-triggered marketing campaigns are commonly executed in the B2C space.
- Hence, marketing and advertising decision-makers spend most of their budgets on campaigns based on this attribute, from social media to television network ads.
2) Shorter Sales Cycle:
- The B2C sales cycle is comparatively much shorter than the B2B sales cycle mainly due to 1-2 decision-makers and secondly due to lower prices.
- B2C sales rely more on marketing to spread brand awareness and improve product visibility to attract customers.
- Due to the transactional flora of the relationship, one does not have to waste time building a relationship with the client.
3) Business Relationship:
- B2C purchases are extra likely to be one-time transactions or transactions with more limited time frames.
- B2C selling is personal, and quite often, the customer has checked the product online and knows which brands to choose.
- Therefore, a salesperson only has to convince the customer that it is the best for them and facilitate their choice.
- Thus, the business relationship is short, as customer preferences and loyalties may change over time.
4) Size of the Potential Customer Pool:
- Here the size of the potential customer pool in B2C is much larger comparing to B2B. Ex: the number of people who buy mobiles can reach lakhs.
- Therefore, an aggressive marketing campaign highlighting the features / USPs of a particular mobile phone brand can turn the tide in your favor.
- People’s buying decision is often influencing by advertising and brand campaigns. However, word of mouth and positive reviews also help attract customers for whom buying a particular product is more of an emotional decision.
Business-to-consumer sales remain described as a sales technique where businesses target specific customers. For example, sales representatives offering audio systems, vehicles, or gym memberships are B2C salespeople. While certain B2C products (such as real estate, cars, yachts, etc.) have high price points, most B2C products have lower prices and just one or two decision-makers. Because of this, the usual business-to-consumer (B2C) sales cycle is substantially shorter than the typical business-to-business (B2B) sales cycle.
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Review Business-to-Consumer Sales – Business Relationship, Interaction.