This article will help you understand (or remind you) what a B2B2C business model is and learn how POM navigated its industry’s challenges successfully by understanding their customers’ needs. So grab your bucket of popcorn and oversized drink, and let’s help you apply the same concept to your product!”
B2B2C, or business-to-business-to-consumer, is a business model that connects manufacturers to retailers to consumers. POM’s B2B2C business model simplifies purchasing, so everyone gets paid without wasting time creating invoices and following up on payments (read ‘less paperwork’).
Customer feedback is crucial to providing the best experience that users need. Usersnap helped POM leverage customer feedback to increase revenue and support the B2B2C model.
In this article, we’ll be covering the following:
What Is a B2B2C Business Model?
Traditionally, we think about businesses being either B2B or B2C, however, there’s also a third model that combines the two. A B2B2C company bridges the gap between suppliers and retailers. B2B companies that need help marketing their products or services can partner with B2C online shops.
A practical example: one business supplies goods for an intermediary storefront. The intermediary company in turn, earns a commission on the sales from the consumers. Other examples include a B2B product supplier buying leads from a B2C entity. It’s also possible for B2C businesses to take a share of the revenue from B2B goods sold through shops.
The Benefits of a B2B2C Model
Understanding how the B2B and B2C businesses work hand-in-hand shows how the B2B2C model streamlines the purchasing process. Manufacturers connect with retailers to sell their products to customers without needing storefronts.
For example, Media_Logic advises businesses to tap into their B2B partner audiences without getting overwhelmed. Focusing on individual segments ensures you’re meeting customers’ expectations without going beyond the scope of your company.
Let’s Meet POM
POM, short for Peace of Mind, is a Belgian fintech company, focused on simplifying how businesses get paid for goods and services.
Their mission is to eliminate useless time and effort spent on inefficient systems, and this is reflected in all of their payment solutions. Thanks to POM, businesses are able to reduce their collection costs and speed up receivables. POM’s focus is on offering a frictionless payment experience in a multi-channel environment:
- Payment buttons
- QR codes
- Text messages
- Web portals
- Mobile apps
Fintech Payments
POM’s payments platform allows billers to integrate payment buttons into invoices sent via email or print unique QR payment codes on paper invoices. These QR codes direct the client to a payment page, where all payment data are prefilled. There’s no more manual data entry required. QR codes printed on paper direct the client to the payment page without needing to type the address.
Getting a direct link to the payment portal means you can send the information through apps, web shops, and text messages. Clickable links, buttons, and scannable QR codes ensure a client won’t delay payment.
POM’s Approach
POM simplifies the invoice payment process by eliminating manual efforts to retype payment data. They also make it easier for clients to pay without wasting time navigating inefficient systems or downloading yet another app.
By using the following principles, POM streamlines payment processes.
Maximum Automation
POM eliminates the chance of human error by digitally connecting clients to their invoices. This level of automation also reduces the need to send reminders for past-due payments.
Ease of Use
With Usersnap’s Customer Feedback Analysis Guide 2023, POM improved the user experience on their payment check-out pages.
No Mediocre Work; Only Complete Solutions
James Derry, a Chief Client Officer for internet businesses, found that B2B2C effectively closes the gap between companies and customers. POM offers a complete solution for each stage of the B2B2C business model.
The Challenges Faced by POM
Over 8 years’ time, POM has grown into an innovative frontrunner in the digital payment sector with more than 1300 customers. However, it wasn’t easy for them to become so prominent in their field.
Delays and Difficulties
Anthony de Bruyn has experience as a marketer at Microsoft and Ricoh. Working at POM was a unique challenge compared to those established brands. Many businesses in the B2B2C chain experience delays when creating invoices and expecting payment, which can devastate a small company.
Usersnap’s Role in POM
Usersnap evaluated how the B2B2C model is transforming to help POM offer what consumers need. Based on customer feedback, they found ways to simplify invoicing. With the insights collected from Usersnap’s user feedback widget, POM improved the user’s payment experience.
Responsibilities
As a marketing manager, de Bruyn worked with Usersnap to connect businesses involved in the B2B2C model. User experience is critical, but POM ensures every payment is made without errors. The invoice payment data (amount, communication, bank account of beneficiary) are pre-filled and cannot be changed.
How POM Used and Leveraged Usersnap
With the insights gained from Usersnap’s feedback widget, POM can see what works and what doesn’t from the end-user’s point of view.
Characteristics of Go-to-Market
Getting user feedback showed POM what’s needed to streamline its platform. On the payment confirmation page, end-users can rate the payment experience and leave a comment to suggest improvements or request features.
The release of new features and solutions doesn’t end once they’re implemented. Customers can still give feedback on these updates, so POM continues to evolve and provide the best user experience.
Identifying Flaws and Problems
Customer satisfaction scores (CSAT) are a crucial tool for eCommerce businesses. You want to know that customers can use your site or platform without encountering major issues that cause them to leave and buy from another vendor. Being flexible is one fundamental way to implement solutions to improve user experience.
With the help of CSAT surveys, POM was able to gather insights on how satisfied customers are with the experience on their merchants’ websites, and identify any issues with them. The constant flow of information resulted in an improved and optimized experience for end-users.
Tech startup expert Andrew Chen notes that B2B2C changes according to the market. This model can shift to B2I2C to allow influencers to help brands grow their audience and sell more products and services.
Scaling Startup
POM was able to not only take advantage of the surveying tools provided by Usersnap, but also scale them to their needs. By adding an additional field to their CSAT surveys asking for a customer’s email address, they were able to receive valuable feedback, and respond to any issues that were being encountered.
This B2B2C example provides a framework for POM, which doesn’t aim to revolutionize the invoicing process but simplifies it using digital methods. As merchants use POM’s links, they can provide feedback that helps the company offer better payment options.
Looking at the Numbers
POM uses Usersnap’s feedback platform to track CSAT of end-users (payers) over time and uses this feedback to streamline its payment solutions.
Ratio of Feedback
10% of all people who pay via POM leave feedback via Usersnap’s feedback widget on the payment confirmation page. They answer the question: “How would you rate the payment experience via POM?”. POM can filter the CSAT score for each customer (based on the customer ID in the payment URL).
Different methods of Invoicing
POM developed several innovative methods for invoicing, making the process easier for merchants and customers. Using a payment URL for an invoice lets merchants text or email the link to clients. Emailing invoices simplifies the payment process, but it’s not a necessity. Businesses are also able to add QR codes to paper invoices and still accept digital payments.
Upselling of the Payment on Due Date Feature
Through the Usersnap widget POM received a lot of requests from end-users to be able to pay on due date. These feedback items were used to inform merchants of the possibility to enable the payment on due date functionality, resulting in multiple upsells at POM’s existing customers.
The Right Tool for the Right Job
POM’s positioning as a B2B2C company puts them in a unique situation. By offering solutions to both end-users and merchants, it was clear that they had to understand the needs of both the B2B & B2C market and optimize on two fronts. With the help of Usersnap, not only were they able to improve their product, but also the experience for their customers and end users. By leveraging their own competencies with the power of a vast amount of feedback, POM showed how they can improve their services and keep innovating.
Capture user feedback easily. Get more insights and make confident product decisions.
Getting feedback has never been easier and we hope you’ve realized that after reading this article. Let us know what you think, your feedback is important.
And if you’re ready to try out a customer feedback software, Usersnap offers a free trial. Sign up today or book a demo with our feedback specialists.
