C2B: The New Era of Operating Business Online in Your Area

Have you seen another posts by your favorite social media influencers promoting new brand of skincare products? Are you tempted to buy the products because of the reviews? This is one of the ways C2B ecommerce Malaysia works in the Internet age.

The consumers and the customers relied heavily on the Internet to search for products especially on searching reviews before buying it. Since we cannot touch, see, or taste, or hear the products that we want to buy, reading the reviews would be sufficient enough. Other than C2B, there are other types of ecommerce for you to check out. 

C2B Meaning and Example

Consumer-to-business (C2B) websites operate in the polar opposite of what most people are used to (business-to-consumer, or B2C) websites when they go online to make a purchasing decision. Our expectations are usually that there would be an abundance of e-commerce websites providing an abundance of goods and services from which we can select, add to our basket, and then check out and await delivery to our house.

C2B completely changes the way people think about business. When customers have valuable goods or services that may be consumed by companies, this is referred to as C2B. A customer is represented by the letter “C,” while a company is represented by the letter “B.” In this approach, it is the organisation that is investing money in something rather than the customers.

The C2B examples in Malaysia are reviews from Malaysian social media influencers and affiliate marketing done by Shopee. 2CB e-commerce websites list include Youtube, and TikTok.

Read also: Introducing eCommerce Website in Malaysia for Online Business

C2B Advantages and Disadvantages

Each business model has its own advantages and disadvantages. Here are some of the benefits of running C2B Business model:

Free Marketing from Your Customers

With a C2B model, the advantage is that your customers are marketing for you, resulting in a client base that is representative of your target demographic. You may also do market research using the information gathered from the customer’s campaign.

The Magic of the Word of Other Customers

Customers are more inclined to believe the word of other customers than they are to believe the word of big corporations. C2B marketing has the potential to expand the reach of your business while also instilling confidence in your customers.

Reviews from Your Customers

Consumers have more chances to give input about the goods or services they prefer when a company strategy is built on a C2B model. This enables small companies and startups to discover which goods are the most popular with customers and to improve their products in response to this information.

Direct Payments

Particular aspects of a C2B company, such as direct payments, may be automated, making it simpler for consumers and companies to interact with one another and do business.Direct payments are used by consumers who have recurring invoices to permit businesses to make regular monthly withdrawals to cover such costs.

Disadvantages of C2B Business

One Bad Review MIght Destroy Your Business 

Traditionally utilised business models, such as B2B and B2C, have shown to be dependable throughout the course of many years of operation. C2B models are still in their infancy and may be unsteady. A C2B strategy is risky in the long run since you are relying on the marketing effectiveness of a client, which is something you as a company owner have no influence over. Angry clients will affect your business.

When you rely on a customer’s services for your company, you expose yourself to the possibility of receiving unfavourable criticism. Sometimes, one bad opinion or bad review will tarnish your business reputation forever. Prepare to minimise any negative feedback while maintaining the lines of communication you’ve built with your customers, who offer the value that your business relies on.

The Examples of the C2B Model

In the C2B model, companies benefit from a willingness of customers to name their own prices or to provide information or promotion for their companies while consumers benefit from flexibility, direct payments, or goods and services free or low prices.

The examples of C2B Business model are:

Reverse Auctions

When it comes to purchasing a product or service, reverse auctions provide customers the ability to choose their own pricing.

Affiliate Marketing

Affiliate marketing enables end-users, who are often influencers, bloggers, or writers, to lend a business their platforms in exchange for a fee in order to promote particular goods. Using the example of a food business inviting a food blogger to incorporate a new product in a dish, this is possible.

Whenever a recipe blogger includes a link to a product on their website, the company may give the blogger a portion of the sales generated as a result of the recipe.

Advertisement Space

Advertisement space in the C2B space enables end-users to earn a fee on clicks on advertisements from other companies that are shown on their website. Users may customise the advertisements that show on their page to include companies that are comparable to their own, increasing the chance that their target audience would click through. 

Such C2B websites examples are Google AdSense, CJ Affiliate, and Amazon Associates. Another C2B e-commerce websites examples are FacebookAds and InstagramAds

Freelance

C2B business also focuses on helping freelancers, or gig workers network with businesses. Some of the C2B website lists include Fiverr, Shutterstock, and Upwork. Some C2B examples in Malaysia are eRezeki by MDEC, Truelancer, and Favser.

Reaching Out to a Wider Audience

How can you utilize C2B for your business? Here are some tools that you should consider for your business to reach more audience:

• Social media accounts such as Instagram followers and Facebook pages. 
• The study of the market (segmentation, qualitative interviews, quantitative surveys)
• Customer feedback channels include outlets for ideas and comments, customer support lines, and rating and review sites, among other things.
• Having a strong presence at trade shows and conventions, advertising in trade magazines, internet marketing, and other traditional awareness efforts are all effective ways to raise awareness.

How Does C2B Payment Work?

Since C2B business depends on the words of customers. Some companies hire social media influencers to promote their brand and products through social media. The payment could be in paid testimonials, Ads click, or directly pay to the consumer. 

Conclusion

C2B can influence so many people as the product reviews are made by the consumer itself. Some paid advertisements are subtle and you did not realize that the social media influencers are being paid to review the products. It is another shopping experience for the customers to enjoy. 

Read also: Which Online Business Platform Malaysia is Best for Selling?

Are You Ginee-us Enough?

Interestingly in this digital age, there are many varieties of options for you to try in order to elevate your business sale. With many kinds of software to help you organize your business from scratch, making your life easier.

But did you know that Ginee Malaysia is one of the genius websites that helps you to organize your stocks, update your stocks on online shoppings sites, track down your loyal customers and more? To experience such a wonderful life, register Ginee for free!