BC covers business transactions between a company and its customers
BC is an abbreviation that refers to commercial relationships between companies (business) and end users (consumer) and has found its way into the German economy from English. More commonly, however, the abbreviations B2C or BtC are used. BC can be distinguished from business-to-business relationships (B2B) and from business-to-business relationships between companies and public authorities or administrations (B2A). B2C covers all business events and transactions between a company and its end customers. It includes the acquisition of new customers, the support of existing customers and extends to sales. Marketing concepts for products and services aimed at the end customer must be carefully planned, because the marketing of so-called consumer goods, such as clothing, food or cosmetics, is generally aimed at a large number of end consumers who make their purchasing decisions based on gut instinct. Although consumers are often unaware of it, their purchasing decisions are guided by emotions and specific needs.
BC in e-commerce
In e-commerce, BC also refers to the business relationship between online retailers and a changing number of customers. Since in e-retail the retail business is enormously determined by anonymous and changing customers, web stores and end customer portals have to be advertised more intensively and repeatedly. In addition to online trading for goods and the sale of services (e.g., insurance, travel), Internet auctions or banking transactions are also part of the BC relationship. However, the individual areas differ considerably.
Marketing crucial for profitable BC
That is why it is particularly important in e-commerce to know the different requirements of customers. Only in this way can the sales strategy be perfectly tailored to the different target groups. Marketing in the B2C sector plays a significant role and must appeal to customers emotionally or attract attention through unusual advertising. At the same time, marketing is subject to permanent changes and new developments on the market, consequently, the advertising and thus also the sales strategy should be reviewed from time to time and revised if necessary. Although the product range at BC is typically quite large, the products are often rather simple. E-commerce is mostly about selling digital goods (e.g. music downloads), physical products (e.g. CDs or books) or services. A single purchase generates a rather small amount of revenue, but the high number of sales makes up for this. This is due to the relatively unspecific target group, apart from individual niche products. Particularly in e-commerce, retailers have to reckon with the fact that the number of repeat buyers is low. That’s why it makes sense to implement the widest possible range of payment systems in the web store, so that as many potential buyers as possible make a purchase. In addition, affiliate programs can promote sales on the Internet.
- Payment Processing
- Marketplace & Affiliates
- Automated Invoicing
- Membership & Subscriptions
- MOTO & Pay-by-link
- Instant Plugins
- Payment Processing