Question

How can B2C e-commerce businesses utilize the Internet to further enhance their CRM initiatives?

How can B2B e-commerce businesses utilize the Internet to further enhance their CRM initiatives?

Answer 1

A B2C ( Business to Consumer) e-commerce business refers to the purchases and transactions that take place between a Business Organization/Entity and a Client who is essentially a non-business related individual.

A B2B ( Business to Business ) e-commerce business refers to the purchases and transactions that take place between two business groups. Thus the name B2B.

The Internet can be used very constructively by both B2B and B2C e-commerce businesses to improve the functioning of their respective Customer Relationship Management ( CRM )

For B2C businesses, they can use the Internet for performing various purchasing Data Analysis using tools such as Splunk, which can help in finding many useful insights related to the customer's purchasing history and can be used as a model for recommendation systems.

For B2B businesses, they can use the Internet for performing the required Data Analysis on data like what raw materials do the concerned companies buy ore often, what price do they sell their final product at.

The Internet, if used constructively, can prove to be a huge boon for both B2B and B2C industries.