What is B2B?
If your business is focused on selling products or services to other companies, your model is called B2B, or business-to-business. In contrast with the business-to-consumer or consumer-to-business models, B2B facilitates the transfer of raw materials, parts and components from which additional profit is derived, through manufacturing or final sales to consumers.
An example of a traditional B2B market is automobile manufacturing. A vehicle's components are generally manufactured by different companies, and the auto manufacturer purchases these parts independently. The tires, hoses, batteries and electronics may be manufactured by separate companies, and then are sold directly to the automobile manufacturer. The products themselves do not end up in the hands of consumers, though often, the end product of the purchasing business does. Because so many small transactions result in one large business-to-consumer sale, B2B companies tend to be high volume.
B2B, like all business models, requires some careful planning to undertake successfully, noted Brent Walker, vice president and chief marketing officer at C2B Solutions, a healthcare marketing consulting firm. "B2B typically relies on its sales function and account management team to establish and strengthen customer/client relationships," Walker told Business News Daily. "Marketing may include advertising in trade journals, having a presence at conventions and trade conferences, digital marketing (online presence, SEO, email outreach) and other traditional awareness efforts."
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