What is b2b sales according to your findings? Business-to-business (B2B) sales simply means the process of selling services, products, or SaaS to another business. It’s a challenging sales model that needs a skilled team of salespeople with strong communication and negotiation skills, as well as a commitment to data-driven decision-making.
There are many aspects to B2B sales. It involves everything from cold calling, sales email cadences, scheduling meetings, organising and conducting demos, and researching buyers’ pain points and objections.
While the sales cycles are longer and more complex than B2C sales, they result in higher-order values and greater incoming revenue.
This article contains a number of resources that provide information and insights into B2B sales.
What is B2B Sales?
Business-to-business (B2B) describes the process of selling products or services from one business to another. It involves understanding the specific needs and goals of the buying business and providing tailored solutions to address them.
B2B sales often require building relationships, effective communication, and demonstrating value to drive successful transactions in the business-to-business environment. A B2B company is one that sells to other businesses.
6 Common Examples of B2B Sales
B2B sales refers to a sales model or a category of selling wherein a business sells its products or services to another business.
Because B2B sales usually involve higher price points, more complex processes, and several touchpoints over multiple channels, B2B companies need to maintain a team of highly-trained B2B sales professionals in order to drive revenue.
Here are 6 categories that would be considered examples of business-to-business companies.
1. Manufacturing
Manufacturers selling heavy machinery, specialized tools, or production equipment cater specifically to other businesses operating in manufacturing sectors.
These B2B transactions revolve around delivering machinery that enhances operational efficiency, increases productivity, and helps businesses meet their production goals.
2. Software Solutions
Software companies develop and offer specialized software solutions tailored to the needs of other businesses.
Whether it’s enterprise resource planning (ERP) systems, customer relationship management (CRM) software, or project management tools, these B2B sales involve providing scalable and customizable software to streamline operations and improve productivity for businesses in various industries.
3. Professional Services
Professional services include consulting firms, legal services, accounting firms, marketing agencies, and more.
B2B sales in the professional services sector revolve around offering expertise, advice, and specialized services to help businesses overcome challenges, improve performance, and achieve their strategic objectives.
4. Business Consulting and Training
Business consulting and training provide valuable guidance and education to other businesses. These services can include management consulting, leadership training, sales training, or specialized workshops.
B2B consultants and trainers work closely with companies to identify areas for improvement, offer expert advice, and empower employees to enhance their skills and knowledge.
5. Wholesale Distribution
Wholesale distributors purchase goods in bulk from manufacturers and sell them to retailers or other businesses.
Wholesale distributors often deal with a wide range of products, from electronics to consumer goods, and act as intermediaries, ensuring the smooth flow of products from manufacturers to end consumers.
6. Office Supplies and Services
Companies specializing in office supplies, stationery, furniture, and technology equipment cater to the needs of other businesses.
These transactions involve providing essential supplies to maintain smooth office operations or offering services such as managed print solutions, document management, or office cleaning services.
What is the B2B Sales Process?
B2B selling is a complex process that requires a well-designed and executed B2B sales strategy in order to succeed. It follows a distinct process and uses a wide range of sales techniques for various buyer personas and selling situations.
The exact number and names of stages in your sales process will depend on your industry, company, and sales organization, but the B2B sales process is typically a 5- to 8-stage sales cycle.
What is a B2B Sales Funnel?
In contrast to the B2B sales process, which focuses on the sellers’ perspective, the B2B sales funnel corresponds to the buyers’ journey. The sales funnel often serves as a visualization of a prospect’s proximity to or likelihood of making a purchase by identifying the cognitive or emotional phases the prospect undergoes in the buying process.
Most B2B sales funnels consist of 4 to 7 steps. Here is an example of a 7-step B2B sales funnel:
- Awareness
- Interest
- Decision
- Purchase
- Evaluation
- Delight/Dissatisfaction
- Repurchase/Attrition
How Do You Make a B2B Sale?
The B2B sales approach involves several factors, including seller competency, sales process effectiveness, product fit, available alternatives, and the buyer’s purchasing capability and willingness to adopt.
To make all these moving parts work together, businesses need to:
- Build a responsive B2B sales strategy
- Determine the best B2B sales techniques for their teams and ideal customers
- Create well-calibrated playbooks and sequences for their sales reps to follow
- Measure and improve performance
What is the Future of B2B Sales?
B2B sales are in a state of rapid transformation. The line between inside sales and outside sales is fading while best practices for consumer sales, especially when it comes to personalization, are becoming mainstream in B2B.
Sales tools introduced just a few years earlier (such as revenue intelligence software) have already become necessary for survival. Technology and buyer-centricity are shaking the ecosystem as Sales AI and machine learning empower teams to scale both customer engagement and revenue.
