Transitioning from a traditional B2B business model, where your primary customers are retailers, distributors, and other partners, to include individual consumers, presents a myriad of opportunities and challenges. This transition requires careful planning, particularly in the realm of marketing, to ensure both segments are properly supported. This article will cover key strategies for communicating with existing B2B customers, developing a go-to-market strategy for the new B2C business, identifying the right marketing channels, and monitoring crucial KPIs to track business health.
The good news is that since there is a general trend of B2B shifting to B2C, many businesses will already be familiar with this strategy. This familiarity does not, however, alleviate B2B customers worrying about competition and losing their customers to the new B2C channel. Addressing these concerns transparently is essential to maintain strong relationships.
Exclusive Deals and Offers: Provide exclusive deals or offers for B2B customers to maintain their loyalty. B2B customers need to be reminded of the value and benefits of being your customer.
Many traditional B2B websites are in need of updating. If your website hasn’t been updated in the past 3 years, it is probably losing its competitive edge. B2B customers are younger and used to ecommerce experiences on big brand B2C sites. They are expecting a comparable experience in their B2B purchasing. The good news is that transitioning to B2C provides opportunities to refresh and revise the customer experience on the B2B site. The key decision here is whether to create a new, separate B2C site or to modify the existing B2B site to accommodate both types of customers. This is an important strategic decision that should be determined by company stakeholders and consultation with your web and marketing partners. Here is a short list of pros and cons.
ProsConsUtilize latest ecommerce frameworksStarting from scratch without SEO or brand recognition built up by B2BSite will be 100% B2C focusedExpense to build and maintain and market 2 websitesExtend brand with a consumer siteStill need to clearly communicate intentions to B2B customersLess impactful on existing B2B customers
ProsConsCan build on existing infrastructureStrategy on how to clearly separate B2B and B2C offerings on one websiteCan build on existing B2B traffic and search engine rankingModify social and marketing channels to accommodate both customer typesOpportunity to refresh branding and marketing Simplifies site management
With this type of transition, marketing channels are critical to support the business change and communicate clearly with all customer types. Here is a short list of which channels should be considered and how they can be used.
Brand Consistency: Maintain brand consistency across B2B and B2C channels.
Customer Support: Ensure robust customer support to handle inquiries and issues from both B2B and B2C customers.
Data Analytics: Use data analytics to track performance, understand customer behavior, and make informed decisions.
Legal and Compliance: Be aware of legal and compliance issues related to selling directly to consumers. For example, more focus needs to be placed on ADA compliance.
Regularly monitoring these KPIs and conversions will help you ensure the B2B segment remains healthy while driving growth in the B2C segment. This balanced approach will enable you to make informed decisions, optimize strategies, and achieve sustainable business success.
Know more about Kensium Marketing Strategies
Expanding an existing B2B business into B2C requires a lot of strategy and effort from all levels of an organization but the potential payoff is huge. The competitive landscape is full of businesses adopting these strategies. Kensium’s marketing and business teams are familiar with the many considerations required to make the transition a success. If your organization is considering with the best way to move forward, contact us today for a consultation and see how we can grow your business together.