How to do a good job in B-side business? After talking with several experts, I concluded four points

In recent years, the economy has been in a downturn, and how to transform has become a difficult problem. In this article, the author shares the key points he has summarized after talking with several industry experts on how to transform and how to do a good job in B-side business. There are four points in total, let's take a look.

Transformation is not easy, and we must learn from others' successful experiences.

I consulted some experts in Knowledge Planet and shared the key information with everyone.

1. The market demand for B-side business is still very large

Although many industries are still sluggish, from another perspective, the companies that are currently operating above water are all strong and wealthy.

There is a demand for such enterprises, and from what I have observed, there are quite a few of them.

Moreover, their demands are highly complex and non-standard, with guaranteed profits and short payment cycles, which means that if you can get in deeper, even if you only get a small piece of it, you can support yourself.

Let’s look at the situation on the C-end.

Judging from the market conditions in recent years, C-end business has become very difficult to do. There are two reasons:

1. The bonus period of rapid development of the Internet industry has passed. Only the top few Internet companies are stubbornly holding on, and small and medium-sized companies are rarely seen.
2. There are fewer recruitment needs and more news about layoffs, which makes practitioners lack confidence in the industry and will reduce their budget for investment in this area.

How does the saying go, choice is more important than effort.

2. B-side is responsible for cognition, C-side is responsible for conversion

The transformation from C to B is easy because almost all the logic is different. It took this friend's company about three years to complete it.

The core difference here is that B-side business focuses on cognition, while C-side business focuses on conversion.

When doing C-end business, we think about how much traffic comes in and how much conversion is achieved at each step, so that we can get the final transaction amount. If we want to increase transaction amount, we should increase traffic, conversion, frequency, and average order value. It is a logically clear formula.

When doing B-side business, the logic is not about converting C-side traffic, but about cognitive logic.

For example.

Companies doing B-side business can start live broadcasts on Douyin to sell their own products or services. This can be done, but you definitely can't look at the conversion rate like buying women's clothing or snacks, otherwise don't do it.

Why? Because B-side customers make decisions in cycles.

You need to build up awareness, then encounter the right demand scenario, and finally make a decision. Each link cycle is very long, and there is no such thing as impulse consumption. If you calculate the conversion rate, then many live broadcasts are 0.

I myself have very real feelings about this.

The corporate clients who come to us for consultation are definitely not those who have read a certain article or watched a certain live broadcast. Instead, they have been consuming my content for a long time, gradually building trust, and then come to us when the demand scenario emerges.

So I don’t care that much about the data from articles and live broadcasts. What’s more important is to keep moving in the right direction.

3. Building a good personal IP is the best way to enter the B-side business

Since the B-side business is about cognition, how do new companies that are just starting out build cognition?

A carrier is required.

In the past, this carrier should be a differentiated product or service. But now, the cost of gaining recognition in this way is too high.

Therefore, building a good personal IP is the best solution.

The best IP is a representative figure of the company, which can be the CEO or a mascot that can represent the company. For example, Fan Deng is not the CEO and is not responsible for the daily management of the company, but he can represent the company externally.

The logic is that IP is used to build B-side awareness, slowly gather accurate traffic into the pool, and then make subsequent conversions.

I just do the live broadcast myself. If you have any needs, add my assistant’s corporate WeChat to see if there will be any follow-up.

There are two key points here:

1. The back-end conversion must be undertaken by other colleagues. The IP cannot both attract customers and provide services.
2. The contracting team must be able to break down the needs. Customer needs are often hidden and need to be sorted out and explored. If this part is done well, delivery pressure will be low, risk will be low, and profit will be high.

So what we are talking about here is building a personal IP, which is not as simple as just creating good content.

4. Dig deep into the industry and create standardized products

How to do B-side business specifically? Simply put, find the right direction + polish the product + build awareness.

1. Find the right direction

The direction is the industry.

The reason for doing industry is very simple. First, the demands of various industries vary greatly. Second, it is easier to produce demonstration effects within the industry.

Dig deep into several industries, accumulate successful cases and methodologies, and become an expert or a well-known brand.

You can choose a richer industry where there are more opportunities and no one can monopolize all demands; you can also choose one that is close to your strengths or expertise, which makes it easier to get into quickly.

2. Polishing products

Designing and constantly refining your service products is the foundation for survival.

In the early stage, it was definitely non-standard. Basically, we accepted all customers. In this process, we accumulated customers and experience, and the goal was to make standard products.

Once a standard product is produced, it can be reused continuously to improve the efficiency of the project. The higher the efficiency, the more customers you serve, the higher the probability of successful cases, and the higher the profit.

3. Build awareness

To do B-side business and build awareness, you must go offline.

Don’t look at this from the C-end perspective, thinking that offline costs are high and efficiency is low, because you can only see a few people and it takes a lot of time and money.

The difference is that the individual value of the B-side is very high. Everyone is a boss or a decision maker, and behind him is a customer or N orders of business, which is different from the C-side consumers.

In addition, the B-side is the industry, and the industry has circles. The circles must meet and communicate offline to realize their value.

To build awareness, we need to organize offline meetings frequently or make business trips to visit.

This is how you get your clients, and how information and resources are circulated. To be a B-side business owner, you need to have an industry perspective and awe.

Author: Han Xu

Source: WeChat public account "Operation Dog Work Diary (ID: yunyingriji)"