B2B sales is when businesses sell something to other businesses, in contrast to B2C sales, where a brand offers products to individuals.
B2B sales often focus on reselling. Thus, one of the main objectives is to join up with a partner company and its management to set up this process and keep it going smoothly.
Examples of B2B Sales
- Companies that produce tire casings sell them to car manufacturers.
- Supermarkets order items at wholesale prices to sell at higher prices to individuals.
- Lawyer firms work on corporate cases.
- Marketing studios prepare strategies and provide content for brands.
- Basically, any kind of outsourced service provider that works with companies belongs here.
B2B Sales Strategy
Corporations are much more sophisticated customers, and they usually look for high-end merchandise and service. There are three parameters that greatly affect B2B sales:
- The field a B2B company operates in
- The product a company sells
- The sales channels a company uses to deliver the product to market
A salesman working in B2B sales should know how to work with different departments of a buyer’s company. Administrators, secretaries, assistants, managers – they all can participate in the purchasing process. Often different professionals focus on different aspects of a product – price, advantages, perks you are ready to offer, etc.
B2B sales as a process consists of four phases:
1) lead generation;
2) lead development;
3) client fulfillment;
4) account management.
In B2B sales, the potential market is narrow, and the sales cycle is elaborate. So the process is more complicated in general, but it also takes the company to a whole new level. That’s why some companies practice working with B2B and B2C types of clients simultaneously.