Business to Business Marketing is a type of commerce transaction that exists between businesses, characterized by (1) relatively large volumes, (2) competitive and stable prices, (3) fast delivery times and, often, (4) on deferred payment basis.
When it comes to winning business, many sellers believe it’s all about price – but in B2B sales, that’s really not the case, says Sean Geehan, CEO and founder of the Geehan Group and author of The B2B Executive Playbook: The Ultimate Weapon for Achieving Sustainable, Predictable and Profitable Growth.
During a session at Ariba LIVE 2014, Geehan outlined the unique characteristics of successful B2B sales organizations, why they need to strategize differently than B2C companies, and steps they must take to gain customer loyalty and drive lasting growth. Read more
What makes B2B so different?
While B2B and B2C companies share many similarities, they differ in several key ways. First, B2B companies typically have far fewer customers than B2Cs—so when you apply the 80-20 rule to a B2B, 80% of revenue may come from just a handful of key accounts. And because of B2B’s high concentration of revenue, Geehan says, success “is going to be won or lost at the top: how we treat our major accounts, how we engage them, and how we design our future with them." Read more
What are the benefits of B2B?
Here are four benefits for doing business-to-business transactions by Paul Rappa from CROWD HUBB:
1. Instant purchases
2. Increased revenue
3. Expands company's presence
4. Closer business relationships
Find out more
For more information on B2B success strategies you can use in your business, watch the full session on the Ariba Slideshare site.
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