What is B2B and how to successfully sell to a business

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

We are used to thinking in terms of seller-buyer. Of course, this is a universal formula, but it has many solutions. Let's deal with the new term, which is increasingly flashing in business conversations, but few people still understand what it is all about. So what is B2B?

Business to business

Indeed, this term literally translated from English means “business for business”. That is, our end consumer is not a specific person, but a certain company. One legal entity sells its goods or services to another. For example, we have some information products that help optimize accounting in the company. We contact the director of the company "M" and offer him our product, as well as related services. That's what B2B is.

Simply put, this is trade between representatives of the business audience. This may include the provision of production needs, the sale of equipment, software development, services for the development and promotion of sites, automation and optimization of work processes. Everything, up to supplying company offices with office equipment, paper orcleaning services.

What is B2B and B2C

What then is meant by another formula - B2C? The main difference is in the end customer. In this case, your buyer is an individual. Yes, you also offer equipment, goods, services, but not to companies or enterprises, but to an ordinary consumer. The difference is that you have to build relationships differently. If in the case of corporate clients it is important to build long-term partnerships, then in the B2C sector everything is based on personal relationships. It is important to attract the attention of a mass audience, take into account the buyer's love for discounts and bonuses, and also skillfully play on spontaneous desires.

How to sell to a business?

What is B2B selling and what are the challenges? First of all, your tasks include not just a successful sale once, the main goal is to build reliable partnerships. It is necessary to achieve the establishment of long-term trusting relationships with the first persons of companies, those who directly make decisions.

And here, unlike in the B2C market, you don't wait for the buyer to pay attention to you. You must actively offer yourself. Traditional flyers, press or TV ads, flyers and banners do not work here. Corporate sales are active sales.

Identifying your customer

Entrepreneurs - that's what the B2B market segment is. At the level of a specific organization, these are directors or individualentrepreneurs, if we are talking about individual entrepreneurs.

When working with corporate clients, you must be clear about your target audience. At the same time, when forming an offer, you should proceed from the main task of your partner - to make your own business more profitable. It is important for him how profitable your product or service will be for him, what profit it will bring.

When launching your business, carefully analyze the existing market, consider in which sector your potential customers are concentrated. Find out as much as possible about their needs, expectations.

Explore the competitive landscape. There are very few unique products on the market right now. Your goal is to make your offer more worthy in the eyes of the buyer.

It is also necessary to take into account the fact that, in turn, your buyer is a businessman. That is, he, for his part, will also carefully analyze the market for the most profitable deal.

Sales Technology

What is a B2B market is already generally clear. But what sales techniques are typical for him?

This is where telephone sales account for a large share. Of course, personal negotiations with key persons are very important. But before the meeting takes place, it is necessary to correctly build a system of cold calls. It is by phone that you have the opportunity to hook the client, to form a steady incoming stream.

It is important not just to “stupidly” call everyone who comes to hand. Your telemarketing service should target the segmentwho is really interested in your offer. Analyze possible entry options in advance, work out probable failures, think over what kind of benefit you can bring to your potential partners.

In addition to telephone sales, direct mailings with offers also work well. But in this situation, you should be aware that some of your emails may end up in spam. This means that your efforts will be wasted.

And, of course, once you've got a client, you should start to systematically build friendships with them. You must tie it to yourself. And at this stage it is very important to properly motivate managers involved in maintaining business relationships with customers.

Marketing

What is B2B? This is an effective system for finding new corporate clients and reliable retention of partnerships. You can't do without marketing activities. It's not just about advertising. You need to plan actions to reduce costs during the sales phase. It's no secret that only a small fraction of phone calls are productive. All others end in nothing.

Your goal is to find out why this is happening, identify weaknesses and work through objections. Why is it better for a marketer to do this, and not a “salesman”? It's just that marketing research methods make it easier to identify the failures of the accepted ways of offering goods or services. And a competent marketer can easily help you compose a selling text.

Now that you know what B2B is and what makes it special,it will be easier for you to promote your business and find reliable partners.