Every entrepreneur needs to have an idea about the business models to improve the business sector. It is important to know which model of business to follow, even if you sell fewer products, the amount of profit will be relatively high. Businesses are usually conducted in a combination of 4 models. That’s are-
- B2B (Business to Business)
- B2C (Business to Customer)
- C2B (Consumer to Business)
- C2C (Consumer to Consumer)
The two most popular models are B2B and B2C. The two most popular models are as follows:
More than seventy percent of all the business have that type of business model where they sell directly to their consumers. So B2C is the most popular. This is the best business models.
E-commerce business is the most popular in this age of information technology. The B2C business model is involved in e-commerce business. In this Covid-19 season we have been able to realize the popularity of e-commerce organization. Most consumers of e-commerce organizations are involved in social media in one way or another. Every day 2 billion users roam on various social media including YouTube, Facebook, Twitter, Instagram. Popular e-commerce company Walmart, Target, Amazon has been conducting business in B2C method. Doing business in B2C model through social media can lead to better improvement in a short time. B2C business model analysis:
Biggest 4 challenges in B2c marketing:
- Sufficient technology skills.
- Using customer insights to drive decision making.
- Producing high quality content.
- Gaining expertise in emerging channels.
4 B2C Marketing strategies:
- Identify consumer’s goals. Answer any questions the customer may have. Solve their problems.
- Choose beautiful headlines.
- Make your website user-friendly.
- Engage in social media (such as Facebook, Twitter, Instagram etc).
4 Advantages of B2C Marketing:
- Unlimited market place.
- 24 hours store reduced sale Cycle.
- Lower cost of doing business.
- More Efficient business relationships.