B2B or Business to Business is a description of a transaction that occurs between two businesses rather than between a business and a consumer. There are a few ways that businesses interact with each other.
In this article, we will look at the different types of B2B transactions, B2B trends to look out for, and how you can improve your B2B communications and telemarketing.
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What Does B2B Mean?
B2B can apply to many interactions that happen between two businesses.
Manufacturing companies rely on other companies in their supply chain in order to get the parts and raw materials they use in the manufacturing process. The finished products may then be sold to a wholesaler, and the wholesaler sells products to retailers, where they are finally sold to consumers. Each one of these transactions between businesses is a B2B transaction.
Businesses also must communicate with each other through email, social media, phone, and more. This type of communication between businesses is called B2B communication.
To sell products and services to other businesses, companies use B2B marketing techniques which are different in some ways than those used for consumer campaigns.
B2B Trends to Watch
According to LinkedIn, here are some contrarian B2B trends that are gaining steam and can give you an edge over your competition:
- Product Delusion: Making your product perfect may not be noticed in the marketplace. Often the brand that is remembered is purchased over the one that isn’t.
- The 95-5 Rule: 95% of your potential buyers aren’t ready to buy today, but they may be in the future. Most of your advertising won’t work right away.
- Reach Maximalism: 41% of buyers buy after seeing an ad 1-2 times, 25% after 3-6 times, and 33% after an average of 10 times. This should be accounted for in your marketing strategy.
- Situational Awareness: It is not enough for other businesses to remember your brand. When your company can help with a situation, it should be associated with your brand.
What is a B2B Marketing Strategy?
A B2B marketing strategy differs from a business-to-consumer marketing strategy (B2C) in that it tends to be more straightforward and informational. Consumers make decisions based on emotion, but employees that make purchases for a business are spending that business money. They have to justify their purchases.
ROI is the primary focus for businesses buying products and services from other businesses. They want to know that the products and services they buy will save them money or help them make more. This means marketing must be fact-based and ongoing to position your company as an expert in the industry.
But some of the marketing strategies are the same, like getting a memorable vanity number for branding and easy recall.
What is B2B Telemarketing?
B2B telemarketing is a kind of marketing where one business calls another business on the phone to sell a service or a product. Some businesses set up call centers that handle both inbound and outbound B2B calls or teams that specialize in one or the other.
Inbound telemarketing agents handle calls from businesses that want to learn more about your products and services. These agents will determine what type of help the callers are looking for and forward qualified leads to the sales teams.
Outbound telemarketing agents call other businesses to gain new clients. The first call to these businesses is called a cold call. Outbound agents must have solid people and sales skills.
Streamline your B2B Communications and Telemarketing
Getting a vanity phone number is a good first step to better B2B communication because the companies you do business with will remember your number and associate it with what you do. It is especially helpful when they don’t act right away. Your number will stick in their heads even after your ad has run.
Updating your phone system to a virtual one will also streamline your B2B interactions. Instead of the complications of phone lines, switches, and custom hardware, you can forward calls, track callers, and send SMS marketing messages through a simple online interface.
And 800.com makes it easy to set up. Get your new vanity number and virtual phone system today.
