What is B2B Sales? Definition and Strategies

B2B eCommerce sales are expected to exceed $1.8 trillion by 2023. This is three times the expected $600 billion B2C eCommerce sales by 2024.

My first experience with B2B sales was in 2012 when I sold legal services to SMB businesses. As exciting as it sounded, it was thrilling as well.

Since then, I have seen significant improvements in the B2B sales process.

Researchers-driven buyers, multiple avenues to purchase, and a variety of vendors are just some of the major developments I have seen over the past decade.

Is this making it harder for B2B leads to be reached?

Yes, to a certain extent.

This is good news, however. (More on this at the conclusion).

It is essential to understand the dynamics of modern B2B sales and recognize the best sales techniques if you want to meet, but also exceed your sales quotas.

What is B2B sales?

B2B Sales stands for business-to-business. This refers to salespeople or companies that sell products and/or services directly to businesses.

This is in contrast to B2C sales where products and services can be sold directly to consumers.

Three types of B2B sales exist depending on the product/business model.

1. Supply sales

The supplier sells consumables to support another business. This could include office supplies, equipment, or workwear for employees.

Similar to B2C companies, they follow a similar process. However, the difference lies in purchase authorization and quantity.

An employee will purchase 50 cartridges instead of buying one cartridge. A manager or decision-maker must approve the purchase.

Lyreco is a large retailer of office and equipment supplies. This company specializes in this type of B2B sales.

Originally publish on The Tech Trend