In the world of entrepreneurship, knowing some terms is very important to think about the next steps of your company. Many times, the entrepreneur already thinks about strategies, but still doesn’t know how to name them, and this may be happening to you with B2B sales.
To help beginning entrepreneurs to start understanding more about the business world, the “entrepreneur dictionary” series will clarify some essential terms for those who want to be entrepreneurs.
So, to understand what the B2B sales model means and how it can increase your business opportunities, follow the article below.
What is B2B sales
B2B is the abbreviation of the term Business to Business, which in Portuguese means “from company to company,” the term refers to a sales model where a company sells its products or provides services to another company.
Implementing the B2B sales model can be a growth opportunity for your company, however, it is important to be attentive to make this implementation in a correct way and please this demanding public.
The B2B sales model can be executed both physically and virtually, but needs maximum attention to the internal processes of the company to serve with excellence and offer the best to the company that is buying your products or services.
Difference between B2B and B2C
The terms B2B and B2C differ at the end of the sales journey, while in the B2C sales model the end consumer is an individual, in the B2B model the end customer is another company.
Winning business customers may require a little more effort and dedication than winning over an individual, however, deals closed in the B2B system tend to be more profitable and longer-lasting.
In the B2C sales model, the purchasing decision is made by a single individual, while in the B2B sales model the decision is made by several people and sectors of a company.
Advantages of the B2B sales model
When we think of an individual as a final consumer we see a huge number of business possibilities, but we often don’t stop to think about the range of possibilities of current consumers in need of good suppliers or service providers.
The commercial agreements closed in the B2B model tend to be more stable, generating cash predictability, and the possibilities of default are lower.
Important steps to implement the B2B sales model
Assess the buying company
When selling to a business customer, your company must be properly regulated to be accepted by the other company, which, in turn, must also be carefully evaluated by you to ensure business security.
Adapt your marketing strategy
To communicate with a business client you can use similar strategies to those you use with individual clients, but the language must be adapted to this type of business.
Remember that your company’s image must be up to the client’s standards, so your marketing strategies must convey knowledge and security to the buying company.
Use technology to your advantage
To run a business that uses the B2B sales model the use of technology to drive company growth is essential.
Using tools that allow you to optimize data control, project management, and even financial management and receivables is fundamental.
Now that you know how the B2B sales model can boost your business growth, how about considering this possibility further?
Creating and managing a business is not easy, but when you know the possibilities it can be simpler to believe in your abilities and start your own business.