We are living in the era of inventions and innovations. People move from one area of a sphere to another without hesitation. They go for different purpose like education, lifestyle and business. Yes! They want to do business as we have two major forms of business i.e. B2B style and B2C style. In this century, anyone who really likes to involve themselves in business would have to make sure the choice they make between two different styles. Below are the points to consider:
- It is easier to work with companies rather than getting to direct customers. In order to reach to maximum strength of customers, you need to work on your marketing strategies. Pulling the attention of customers is way more difficult than contacting to the companies directly involved in the business.
- Choosing B2B is important option as you get yourself involved in most stable form. Providing services to the companies as per their need will enable you to establish your reputation in the market. Customers whose reliance on the product or services is great, they hardly believe on changing their choices. In B2C you will face difficulty in convincing them to move towards your product.
- As per Forbes report, the market having B2B companies are driven by sales and market having B2C companies are driven by marketing. It is because B2B companies target only small group of customers from the very start and consider in providing product and services and maintain the reputation among them. They believe on establishing strong relationships rather than concurring new adventures.
- B2B can be tailored as per the needs of clients. Any change or development in the product or service in B2C will be difficult to achieve. In B2B, it is easier to develop a portfolio of services to cater the needs of clients in order to expand further.
- There are companies that look for outsource their major departments were in-house in any day. They move for several reasons i.e. Cost efficient, maintenance of quality and knowledge of the product and services.
- Through B2B business, one can reduce operational costs. Assess if the B2B franchises can establish operations in town or other suitable area that will not cost much.
- Keeping in mind to choose a right B2B option in order to have equal results. Do cost benefit analysis, research market conditions and estimate your success in this and then choose the best option for B2B franchise.