B2B vs B2C Equipment Rental eCommerce: What's the Difference
No matter what kind of product or service a business is selling, there's an opportunity to successfully reach one's target market with a well-executed eCommerce strategy. Since businesses in every industry are becoming more aware of the potential to gain customers and earn revenue over the internet, the digital world of eCommerce is booming now more than ever.
As an equipment rental company owner, you can take your business to the next level through the use of eCommerce and a reliable equipment rental company software. That said, it's common for equipment rental company owners to be wary of stepping into this complex, digital world. They often wonder how exactly eCommerce can be used in their business model, and specifically what the difference is between B2B versus B2C eCommerce rental processes.
Understanding the definitions, differences, and approaches of B2B versus B2C equipment rentals in the eCommerce space is fundamental to the success of your rental company's eCommerce strategy. That's why we at DOZR have created this guide to help you understand the difference between B2B versus B2C eCommerce in the heavy equipment rental industry.
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Definition of eCommerce in the Equipment Rental Industry
At its most conceptual level, eCommerce is the buying and selling of goods or services using the internet, and the digital transfer of money and data to execute these transactions. In the heavy equipment rental industry, eCommerce would refer to the ordering or reserving of heavy equipment rentals solely through the rental company's website with the help of equipment rental management software.
Within this definition of eCommerce are the concepts and definitions of B2B and B2C eCommerce. Appropriately, just like in a non-digital context, B2B eCommerce refers to transactions between two or more business entities through an online sales portal. On the other hand, B2C eCommerce refers to the online-facilitated exchange of goods or services over the internet between businesses and individual consumers.
Difference Between B2B and B2C eCommerce in the Equipment Rental Industry
Just like the definitions suggest, the main difference between B2B and B2C eCommerce in the equipment rental industry is the customers who are renting your equipment.
When it comes to your B2B eCommerce transactions, this would include any online sales that are between your rental company and contractors, construction companies, or any form of business entity. Of course, even if a contractor is running a small business where they are the only person employed, they are still by definition a business entity, thus making the transaction a B2B eCommerce rental.
Your B2C eCommerce rentals would fall in the category of sales between your rental company and qualified DIY consumers who are not represented by a business entity. This can include any sales from, for example, an individual renting a scissor lift to hang up their Christmas lights or any other odd number of aerial jobs to a DIYer who needs a quick excavator rental to dig a trench or garden.
How This Changes Your Overall eCommerce Approach
Understanding the difference between these concepts allows you to intentionally and effectively change the way you market the eCommerce side of your rental company depending on who you're trying to sell to. Although you can definitely orient your marketing efforts towards both B2B and B2C goals at the same time, keeping in mind the differences between the two will help you segment and execute several marketing functions more precisely.
Online Customer Relationships
Online customer relationships are vital in the world of eCommerce. Being able to quickly and personably connect to your customers is something that will give you an edge in the equipment rental eCommerce space.
Traditionally, B2B marketing focuses on building personal relationships with the business owners and representatives that you're trying to sell to. Although this is usually done in person, it can also be effectively done online as a part of your eCommerce strategy. You can build great customer relationships with contracting and construction company owners through tactics like sending informative email newsletters and integrating business accounts on your rental company website.
B2C online customer relationships in the eCommerce space have a bit of a more transactional focus. Being able to catch the digital eye of your target DIY-customer market is less about building relationships and more about standing out. For example, having a sophisticated chatbot, or even a live representative chat function on your website is a great way to cater to your B2C customers during their browse through your equipment rental website.
At the end of the day, more often than not, the way you engage with B2B and B2C clients is different depending on how well they know the equipment options and work they're trying to do. That's why it's important to understand how you market and sell to them differently.
Customer Service
Once you've gained the interest of a potential customer on your eCommerce platform, exceptional customer service becomes your main priority. Just like in-person, online B2B and B2C customer service differs in the eCommerce space.
In an eCommerce context, great B2B customer service means maintaining open communication in the decision-making and buying process through online methods. When a B2B customer is about to rent a piece of heavy equipment for a long project, or once they actually have, it's going to be quite costly. Because of that, they'll likely want to have a direct, quick, and easy way to ask questions. Whether that's about delivery methods, rental insurance, or potentially extending the renting timeframe, providing quick answers to the clients who give you the majority of your business can be time-saving. Make sure to provide your prospective B2B customers with a direct way to chat with your best-suited representative online through email, or even with a phone number.
For B2C customer service in the eCommerce space, you should strive to make the rental process as quick and easy as possible. Make sure to have all the necessary information ready for B2C customers to view, and try to eliminate any confusion or roadblocks during the checkout process. Since their equipment rental is likely going to be less expensive and for a shorter period of time, prolonged communication through a direct channel might not be necessary.
Helpful eCommerce Solutions
At DOZR, we've created two solutions for heavy equipment rental companies that want to break into or further succeed at the eCommerce game. These solutions are DOZR Marketplace and WebStores.
By becoming a supplier on the DOZR Marketplace, your equipment rental company can easily and effortlessly boost its sales. Listing your equipment on the Marketplace is a free and easy way to connect with local contractors looking for equipment online. When an order that suits your fleet is requested around an area near you, we'll reach out to your company in order to book that machine. You have the option to accept orders or decline them at any time.
WebStores by DOZR is an eCommerce solution for rental companies that enable touchless online bookings with your customers. This software lets you unlock and seamlessly integrate full e-commerce capabilities for your rental company for your website.
If you'd like to learn more about DOZR Marketplace or WebStores, don't hesitate to contact one of our representatives today.
