“The only way to consistently grow in B2B is to be better than good.”-Seth Godin.
When questioned what is b2b?
The first answer that sums up in your mind probably could be...
B2b is a transaction made between businesses involving manufacturers, suppliers, wholesalers, retailers, and buyers.
Yes, the answer is absolutely fine.
But, when you are looking for an in-depth meaning and wanted to know what actually happens in a b2b e-commerce?
Here the answer is opened up for you...
B2B is a business where a company buys a product and increases its value until reaches the customers.
To explain briefly..
When a business (A) produces a product for its consumers and when another business (B) helps business (A) in providing the required support in the form of raw materials etc to complete the production process and make the products to reach the customer is b2b.
Let us see this as an example,
A textile business company manufactures a saree for its customers; the saree manufacturing involves a value chain. Cotton or other fiber is brought from another manufacturer or supplier and woven into a cloth and then tailored into a garment and then distributed to wholesalers and retailers after which it reaches the customers and that’s the end of the value chain which completes b2b business.
“Success is liking yourself, liking what you do and liking how you do it.”-Maya Angelou.
And what makes us love b2b is...
The Decision-making unit –
The decision-making unit in b2b is unique has it involves peoples with different perspective and emotions.
Buyers will aim for good financial deals, a production manager looks for a maximum rate of production, a health and safety executive wants low health risks, so, when all these people fall under decision-making unit stunning variations are created as a result in choosing the product and supplier.
Buyers are rational-
In b2b the buyers always act logically as they don’t want to risk their livelihood purchasing an irrelevant product; this makes the b2b marketer’s job easier, as they only have to design and manufacture good products, quote them with a reasonable price and deliver them on time.
Purchasing decisions are technical –
In b2c the purchasing decisions are more emotional. But in b2b the purchasing decisions involves technical knowledge.
For example, a consumer buys a bike not only because of its appearance but he looks in for features like materials used in the production of bikes body, bike’s maximum speed etc and this is what goes with b2b purchasing, products are not purchased based on its appearance but its quality, durability etc.
B2B Relationships are more personal –
Apart from purchasing decisions, b2b involves security, trust, and belief. Achieving all the three points enables to build more personal and responsible relationship with the business.
Buying needs are long-term –
In b2b the buying need doesn’t end as the production process is all the way throughout the year. This helps the business gain long-term buyers.
Finally, B2B is purely turning a stone into a sculpture, making it glorified by millions. Thus, the love for b2b is enormous among business people and that love will never fade!!