FastTalkers*, an established industrial equipment auction house, was considering the best strategy to bring its business online.
Traditional and online auctioneers have succeeded for very different reasons.
Traditional auctioneers focus on depth of offering
- Value-added services
- Aggregated assets
Online auctioneers focus on breadth of offering
- Anytime, anywhere
- Unaggregated assets
Bain was asked to help FastTalkers migrate to a full potential B2B e-commerce strategy.
The Bain team analyzed the online auction industry and defined how FastTalkers could best compete.
Bain recommended that FastTalkers adopt an integrated business model that would provide a unique solution for both sellers and buyers.
By implementing Bain's recommendations and working closely together with Bain in various phases of the start-up, FastTalkers rapidly gained sustainable scale and momentum.
* We take our clients' confidentiality seriously. While we've changed their names, the results are real.