Some Examples of B2B Sales B2b sales often take the form of a company that sells supplies or components to another. For example, a tire manufacturer may sell merchandise to a car manufacturer. Another example would be wholesalers who sell their products to retailers who then turn around and sell them to consumers. B2B sales refer to a sales model or sales category in which a company sells its products or services to another company.
Because B2B sales often involve higher prices, more complex processes, and multiple touchpoints across multiple channels, B2B businesses need to maintain a team of highly trained B2B sales professionals to drive revenue. A B2B sales rep is a professional who uses strategic sequences and specialized sales methods to attract corporate buyers. Because corporate buyers tend to search for products and services online before contacting a seller, these buyers are often knowledgeable and compare several competing products at once. Where teams don't have account executives, B2B sales reps own virtually the entire sales cycle, engaging customers along the buyer journey, from prospecting and nurturing leads to closing.
B2B selling is a complex process that requires a well-designed and executed B2B sales strategy to be successful. It follows a different process and uses a wide range of sales techniques for different buyers and sales situations. The exact number and names of the stages in your sales process will depend on your industry, company, and sales organization, but the B2B sales process is usually a 5- to 8-stage sales cycle. Unlike the B2B sales process, which focuses on the seller's perspective, the B2B sales funnel corresponds to the buyer's journey.
The sales funnel often serves as a visualization of the proximity or likelihood of a prospect making a purchase by identifying the cognitive or emotional phases that the prospect goes through in the buying process. The B2B sales approach involves several factors, including the seller's competence, the effectiveness of the sales process, the fit of the product, the alternatives available, and the buyer's purchasing power and willingness to adopt. There are an overwhelming number of B2B sales frameworks and methodologies to choose from. While everyone claims to be effective, not all of them will fit your business, your sales organization, or your target customers.
Some methods may work well for a specific industry, but not for others, while others are only successful if they fit the type of customer accounts in your portfolio. To determine if a specific B2B sales technique or sales sequence has a positive impact on a business, sales organizations identify and measure key performance indicators (KPIs). KPIs are agreed metrics that are used to evaluate a sales organization's performance in different areas, such as profitability, sustainability, and efficiency. They are also used to discover trends and assess the productivity and performance of individual sellers.
In B2B sales, outside sales professionals often operate outside of an office because they meet with potential customers or show up at an event. On the other hand, inside sales professionals interact with customers remotely via cold calling, email, and video conferencing. Inside sales professionals can close deals without even meeting their customers in person. In contrast, outside sales reps almost always make a sale during or shortly after a one-on-one meeting with customers.
This difference in engagement approach requires different skill sets and sales techniques that are required for each practice. For example, outside sales professionals leverage in-depth product knowledge and in-person communication skills, while inside sales professionals become experts at using CRM, a shared sales process, email, and social media. Recently, however, the line between inside and outside sales has begun to blur as outside sales reps begin to use the same communication technologies as well as engagement strategies preferred by inside sales professionals. As the names indicate, business-to-business (B2B) and business-to-consumer (B2C) sales differ mainly in their target customers.
While B2B companies sell products and services to other companies, B2C companies consider the general public (or certain segments of it) as their primary market and end consumers. B2B sales are in a state of rapid transformation. The line between inside and outside sales is blurring, while best practices for consumer sales, especially when it comes to personalization, are becoming commonplace in B2B. Sales tools introduced just a few years earlier (such as sales enablement platforms) have already become necessary to survive.
Technology and buyer focus are shaking up ecosystem as AI and machine learning enable teams to scale both customer engagement and revenue. It remains to be seen how COVID-19 will change B2B sales in the long term. More teams are likely to move from in-person to remote, fully or partially. Unlock faster sales cycles and more predictable revenue with the AI-driven, information-driven, outreach sales execution platform.
Business-to-business transactions and large corporate accounts are common for manufacturing companies. Samsung, for example, is one of Apple's largest suppliers in the production of the iPhone. Apple also maintains B2B relationships with firms such as Intel, Panasonic and semiconductor producer Micron Technology. The most common example of B2B sales is selling products or services directly to another company.
For example, a manufacturer of office supplies may sell its products to a law firm. The law firm will then use those office supplies to take notes on litigation or write case reports. A large B2B e-commerce platform will allow your business to easily develop and scale to meet market needs and customer expectations by generating new sales channels and approaching new market segments. Thanks to integration with ERP and other back-end business systems, e-commerce offers remarkable efficiency for B2B organizations.
Customers can conveniently place orders online, customer service can focus on real customer service functions instead of begging order takers, and demand for data key changes in separate systems is reduced. This will significantly reduce the chance of errors, improve shipping processes, and increase order performance. A B2B e-commerce website with public catalog pages is a solid way to access new B2B consumers. Because B2B customers go online to search for the best prices, manufacturers and distributors can capitalize on the power of search (and therefore be ready to index) your website pages to define new visitors and convert them into customers.
In addition, e-commerce opens up a valuable opportunity for B2B companies to improve their customer service initiatives. E-commerce websites can provide access to self-service portals with orders, accounts, history, and tracking information. In addition, it can also display customer-specific items, services, and prices according to the customer's credentials. The wishes and expectations of consumers will decide the principle of MedUX's business activities.
This includes creating your user-friendly web store. Finally, customers define how they make their purchases, either online or through MedUX physical stores. Alibaba constitutes one of the largest B2B e-commerce companies in the world. Sell products in 40 industries, serving more than 18 million sellers and buyers in 240 countries and territories.
Alibaba created a system that automatically expanded with its growth. The company achieved this by focusing on customer demands. Connect sellers and buyers while earning money with commissions and ads. For the most part, it provides a complete package that includes all the features needed for any B2B business, such as approval workflows, pay by invoice, multi-user accounts, etc.
In addition, customers can have Business Prime with several levels that unlock more incredible benefits. Each level is unique and has different prices. In addition, Amazon Business is always innovating by continually reviewing new features and making adjustments to the current experience. Personalization has become an essential part of B2B e-commerce.
Salesforce Research Shows 80% of B2B Buyers Expect a Shopping Experience Equivalent to Their Amazon Shopping Experience. If you can't provide excellent, personalized service, your B2B buyers will immediately find another provider. With more than 10 years of experience in B2B e-commerce, Royal Brinkman has gained a huge database of customer knowledge. This allows the company to segment its audience into specific groups.
Applying customer segmentation, Royal Brinkman has content that connects with the various stages and characters of its B2B customer journey. Use short videos and other content to answer your customers' questions through your intuitive web store. Although eWorldTrade has become one of the most incredible virtual marketplaces to help connect millions of buyers and sellers around the world, it has made a big name for itself through its single point of sale (USP). Its single point of sale (USP), which has been the center of attraction for most sellers worldwide, is to offer sellers a complete list of potential customers, saving b2b sellers the trouble of waiting and searching for buyers.
In addition, eWorldTrade has taken into account the needs and requirements of buyers by reducing the chances of fraud and errors through its well-thought-out policies. EcoEnClose provides companies with environmentally friendly packaging to address almost any need, with the aim of matching customers with the right packaging in line with the sustainability values of their business. EcoEnClose comes with B2B features that some business customers may want or prefer, not forgetting to satisfy those customers who prefer to imitate their daily B2C experience. In addition, to help customers know which packaging items will suit them, EcoEnclose adds detailed details about each item.
For each item, they add a full specification sheet describing the features, sizes, and technical specifications. In addition, they also help customers identify if the items in the packaging are recycled, recyclable or biodegradable. There are several factors that make Mallory's website an impressive example of a B2B e-commerce store. If B2B e-commerce sites don't group products in this way, visitors will find it difficult to filter too many product options, leading to abandonment of their carts.
In addition, the website also keeps the search bar and shipping cart icon “fixed” at the top of the navigation so that they always stay on the screen, even when shoppers scroll down the page. In particular, Atlanta Light Bulbs generates a mobile app that makes it faster and easier for B2B buyers to place orders. The company uses another application to allow buyers to make personalized quotes in seconds. In addition, with another app, Atlanta Light Bulbs allows customers to set their own price for an item and then receive a message showing if their offer is approved.
Kippie allows customers to complete their purchases as a guest. Customers don't need to enter all their information. In addition to having a regular login, they can also use a “one-time guest payment” to purchase products. These B2B customers want the same shopping experience as B2C, where convenience is significantly improved.
In addition to displaying products with high-resolution images and product-specific information, site navigation makes it clear to B2B customers that they must filter through the company's gigantic product catalog. Buyers can narrow their search using a wide range of parameters, including color, shape, material type, capacity, function and more. In addition, Berlin Packaging creates the B2C-like shopping experience that B2B customers prefer with features such as customer feedback, relevant articles and live chat. That said, they offer features unique to the B2B shopping experience, including a request to request credit and the option to create a quote.
Smartwares Group, a supplier of small household items, has succeeded with a spare parts portal. The group includes 8 brands in its portfolio (such as Princess and Tristar) and 8 different web stores (B2B and B2C web stores). Retailers can order products online, but end buyers can only order replacement parts. Smartwares Group helps customers search for spare parts in a separate portal in the webshop.
For example, if the end customer orders a replacement part, this part will be transferred to the group's multiple B2B suppliers. B2B visitors navigate to your webstore to search for information. Therefore, the function of your web store design is to provide customers with details about your products. The web store necessarily an attractive corporate design with detailed product data, such as information on the connection of items with other spare parts available on the site.
This gives your customers a seamless B2B customer experience. Quality Mill is a great B2B example of an e-commerce site that provides convenience to its customers. It comes with a feature called “Customer Part Number (CPN). If your customers have the part number of a product on the website, they can insert it on the product detail page.
This allows customers to return to the site and look up their unique part number and for the product to be returned in the search results. In addition, the company supports live chat that helps its customers interact with its sales team in real time. By doing everything possible, Quality Mill ensures that no buyer reaches a dead end while shopping on its B2B e-commerce site. Founded in 1956 by Jack Miller, Quill is a B2B e-commerce company that provides office and educational supplies.
By targeting the right audience, Quill brings office supply products to small and medium businesses. SeeBiz is an emerging B2B e-commerce platform with a vast network of wholesalers, distributors, suppliers and retailers. Not just a wholesale market, SeeBiz is also a commercial networking platform that brings together retailers, wholesalers, manufacturers and distributors. Make sure your M2 store is not only in good shape, but also thrives with professional equipment, but at an affordable price.
The most common type of B2B sale occurs when a company sells a product or service to another company that will use it to help run their business. Well, b2c sales are “business-to-consumer sales,” so instead of selling to businesses, Netflix or Nike are prime examples of this: a lower level sale, a lower quantity of product and price. B2B sales have changed dramatically in recent years, and B2B sales strategies that used to work are no longer effective. This is a perfect example of a microconversion; while it may not lead to a direct purchase, it allows buyers to interact with the sales team to see if they can offer a solution to customer requirements.
Patrick Dang, Business Development Specialist, lays out the framework for common b2b sales functions and what the team does at the lead generation, closure and renewal level. A useful best practice is to put together a Delighting the B2B Sales Experience playbook with the best definitions, technology, tips and FAQs so that the entire sales team can create an effective and repeatable process. . .