B2B sales in e-commerce in the US are projected to hit $3.1 billions by 2027.
In comparison, the revenue from B2C e-commerce sales is only estimated to reach $1.7 billion by the same year.
A strong understanding of
the differences between B2B and B2C sales is essential for achieving B2B success. Investing in sales tactics that have been proven to work is also essential.
Luckily, we have everything you need to bangladesh whatsapp number data know right here in this one article. Read on to explore the definition of B2B sales, understand the B2B sales process, and uncover the best practices that will help you avoid common B2B challenges.
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What does B2B sales mean?
B2B sales, or business-to-business sales, are when companies sell products or services directly to other businesses. Because businesses tend to buy in bulk and invest heavily in services, these sales often involve large orders.
Due to this, the typical process of securing a B2B sale is long and complicated, requiring sign-off from numerous decision-makers and/or a long-term trade commitment.
B2B sales vs. B2C sales: What’s the difference?
B2C sales are made directly from a business or revolutionize your b2b strategies with the best of buyer salesperson to the consumer. Unlike B2B sales, they’re usually smaller in scale and involve only the consumer’s decision.
Common business-to-consumer sales examples include:
A sales rep at a car dealership.
An online eCommerce store kcrj that sells clothes.
A supermarket selling a variety of consumables.
Compared to B2C, B2B businesses have a bigger pool with larger fish, greater targeted marketing opportunities, and, of course, more expansive budgets.
So, why is there such a drastic difference between B2B and B2C sales?
Higher average transaction value
While the B2B sales pipeline can be small, like an SMB making an order of office supplies, it can often stretch to thousands or millions of dollars and involve a massive supply chain.
Outside of a few specific B2C industries—such as real estate, automotive, and luxury goods—this isn’t the case.
Longer sales cycles
Excluding the three B2C industries mentioned above, B2C consumers base purchasing decisions on emotions and quick, fleeting needs—a phone case, clothes, or edible goods, for example.
B2B buyers, however, are often looking for a concrete ROI, a measurable edge, or a logical solution to a specific problem. The B2B industry uses CRM software just to keep the sales funnel in order.
They must also win the approval of numerous decision-makers.