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Business to Consumer (B2C) is probably the most common business model. It’s certainly the oldest. At the same time, it’s also probably the least predictable.
You are dealing with a massive pool of diverse interests, needs, budgets and priorities in the consumer market (unlike B2B transactions, which center on set budgets and clearly defined needs).
How does one succeed with a B2C model? How can you speak directly and meaningfully to consumers, fostering loyalty along the way? This article outlines a few maxims for achieving success.
Whether you’ve just started building your B2C company or are facing roadblocks in the growth phase, use these tips as navigation.
Start by Filling a Need
As Regan McGee neatly puts it in his interview with Superb Crew, “A key element for any business venture is the ability to fulfill a need.” He should know.
His company, Nobul, capitalized on a need among real estate consumers for information, resources, and choice – qualities that were noticeably lacking in the stalwart industry.
“Nobul brings choice, accountability and transparency to an industry that has – for decades – been widely regarded by homebuyers as opaque and challenging,”he said in his interview..
Nobul’s success is a lesson in targeting a long-held need in an industry and centering the consumer.
As you build your business, consider what pain points and sources of friction exist in your market; then, try to manoeuvre your business idea and core values to address those issues.
Prioritize Engaging, Meaningful Content
B2C content marketing should not be overly technical or jargon-rich – remember, most consumers lack your level of expertise and need to be brought up to speed.
Most of the time, consumers want plain-spoken, informational, fun and value-adding content.
Populate your company blog with informational content relating to your product or service. Make a YouTube channel chock full of demonstrations and visual consumer resources.
Center your social media strategy around helping consumers understand and use your product. And pay special attention to common end consumer problems you can address in your resources.
When Fast Company asked global marketing leader Renee Richardson to define her success, she told them, “Customers are impressed that we’re meeting them where they are.” It’s as simple as that.
Remove Friction and Pain Points From the Buying Process
Conversion is the beating heart of a B2C. But often, new companies create their own conversion hurdles with un-intuitive apps, laborious checkout processes, complicated UX, lack of visible inventory, minimal product descriptions, too many form fields, and costly logistics solutions.
These are just a few of the common pain points that drive consumers away from the checkout line of your business.
Writing for the Harvard Business Review, Adam Richardson recommends companies ask themselves this question: “What structural, process, cost, implementation, or other barriers stand in the way of (the consumer) moving on to the next stage?”
Listen to your consumers. Pay attention to their barriers, and continually work to streamline the buyer’s process.
The through-line in all of these tips is to focus on your consumer – their wants, needs and problems.
By filling a need, engaging consumers, and removing friction from the buyer’s experience, you can succeed with a B2C business model.
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