Mastering B2B Commerce is Your Path to Growth
The world of online business is growing faster than ever and B2B (business to business) is a big part of that push. Wholesale and direct business sales are important vehicles for businesses to expand. But you might be wondering, how can you use B2B sales to find new growth opportunities for your own business? To answer that, it's important to understand the unique needs involved in the B2B process. These steps can differ from typical B2C (business to customer) sales, as they often involve larger transactions, longer sales cycles, and more complex negotiations.
Let's dive in and explore how you can effectively use B2B sales, and workflows to boost your business' bottom line.
Defining B2B Commerce
Let's start with the basics, what is B2B ecommerce? B2B commerce refers to the transactions, trade, or business conducted between two companies rather than between a business and an individual consumer.
These sales can occur in a variety of formats including, selling raw materials, wholesale products or even providing professional services to other companies. For example, a company that makes paper might sell large amounts of it to a publishing company. The publisher would then use the paper to print books. That transaction is an example of B2B commerce. It's sort of like a secret business world where companies help each other operate, produce, and serve their own customers. It can happen offline, but it often happens online these days, through digital platforms designed for this kind of trade.