Selling to consumers and selling to other businesses are two different things.
The two types of customers might share some things in common but are also very different. Consumers usually think about their wants and needs, whereas buyers must always keep the business’s goals in mind. While some business purchases might not be as direct as placing online orders, many companies like the efficiency of purchasing from an online store. However, it’s still important to recognize the differences between running an online store for consumers and running one aimed at businesses.
There Are Different Ways to Get Leads
Generating leads can be very different between B2C and B2B ecommerce businesses. B2C businesses might focus on digital advertising, especially as it can be very cost-effective. However, there can often be a greater focus on offline methods for B2B lead generation. In particular, attending trade shows or encouraging word-of-mouth referrals can be helpful. Online forms are also instrumental when selling to businesses. Social media, email marketing, and other digital marketing channels are effective at getting and keeping the attention of your desired audience.
You Might Require Customers to Create an Account
Some wholesale or B2B websites are open about their products and prices, sometimes even allowing purchases from businesses and consumers. But others prefer to keep their sales under wraps for several reasons. It ensures your exclusive prices remain private, and you only deal with businesses that meet the requirements of who you want to work with. Asking customers to create accounts before they can order is also an excellent way to onboard new customers and get to know them a little more. You can ask for details about their business and their needs.
You May Need to Appeal to Multiple Decision Makers
There is often only one person involved in making a consumer purchase. However, when it comes to businesses, multiple people may need to approve an investment before it can be made. This is something to consider when considering how your sales process works. People might visit your website more before placing an order than consumer purchases. You can think of ways to make it easier to convince decision-makers at different levels that buying is the right choice.
It Can Take Customers Longer to Buy
Because more people are involved in making the right decision, and sometimes a lot of money is on the line, purchases can take longer, too. You need to ensure your sales team is providing information and support at each stage of the process if you want to keep your customer’s attention. This could mean actively getting in touch with them or being on standby to answer questions whenever you might be needed.
Selling to businesses is always different from selling to consumers. But remember that you’re still selling to people, even if their priorities aren’t the same.
Selling to consumers and selling to other businesses are two different things. The two types of customers might share some things in common but are also very different. Consumers usually think about their wants and needs, whereas buyers must always keep the business’s goals in mind. While some business purchases might not be as direct as placing online orders, many companies like the efficiency of purchasing from an online store. But, it’s still important to recognize the differences between running an online store for consumers and running one aimed at businesses.
There Are Different Ways to Get Leads
Generating leads can be very different between B2C and B2B ecommerce businesses. B2C businesses might focus on digital advertising, especially as it can be very cost-effective. However, there can often be a greater focus on offline methods for B2B lead generation. In particular, attending trade shows or encouraging word-of-mouth referrals can be helpful. Online forms are also instrumental when selling to businesses. Social media, email marketing, and other digital marketing channels are effective at getting and keeping the attention of your desired audience.
You Might Require Customers to Create an Account
Some wholesale or B2B websites are open about their products and prices, sometimes even allowing purchases from businesses and consumers. But others prefer to keep their sales under wraps for several reasons. It ensures your exclusive prices remain private, and you only deal with businesses that meet the requirements of who you want to work with. Asking customers to create accounts before they can order is also an excellent way to onboard new customers and get to know them a little more. You can ask for details about their business and their needs.
You May Need to Appeal to Multiple Decision Makers
There is often only one person involved in making a consumer purchase. However, when it comes to businesses, multiple people may need to approve an investment before it can be made. This is something to consider when considering how your sales process works. People might visit your website more before placing an order than consumer purchases. You can think of ways to make it easier to convince decision-makers at different levels that buying is the right choice.
It Can Take Customers Longer to Buy
Because more people are involved in making the right decision, and sometimes a lot of money is on the line, purchases can take longer, too. You need to ensure your sales team is providing information and support at each stage of the process if you want to keep your customer’s attention. This could mean actively getting in touch with them or being on standby to answer questions whenever you might be needed.
Selling to businesses is always different from selling to consumers. But remember that you’re still selling to people, even if their priorities aren’t the same.
Understanding B2B Payment Terms
When selling to businesses online, it’s crucial to understand the payment terms often different from B2C transactions. B2B transactions might involve net payment terms, such as Net 30 or Net 60, which means the buyer has 30 or 60 days to pay for the goods or services after the invoice date. This can affect your cash flow, so factoring this into your business model is essential. Offering early payment discounts can be a strategy to encourage quicker payments.
The Role of Content in B2B Selling
Content plays a pivotal role in B2B online selling. Businesses often require more information before making a purchase decision. Your online platform should provide detailed product descriptions, case studies, whitepapers, and webinars. By offering valuable content, you position your business as a trusted expert in the field, making companies more likely to purchase from you.
Custom Pricing and Bulk Discounts
Unlike B2C, where prices are usually fixed, B2B often involves custom pricing based on the volume of the purchase or the long-term value of the business customer. It’s common for businesses to expect bulk discounts or negotiate prices. Ensure your online platform can handle custom quotes or has a feature that automatically applies values based on order quantities.
Integrating with Business Systems
Businesses often use various systems for procurement, inventory management, and accounting. When selling to companies online, consider integrating with popular business software solutions. This streamlines the ordering process for your business customers and can give you a competitive edge.
Building Long-Term Relationships
In B2B online selling, the focus isn’t just on making a sale but on building long-term relationships. Businesses value reliable suppliers and often stick with them for the long haul. Offering excellent post-sale support, loyalty programs, and regular check-ins can help nurture these relationships.
Summary
Selling to consumers and businesses online presents distinct challenges and opportunities. While consumers purchase based on personal needs, enterprises consider the broader company goals. B2B sales often involve multiple decision-makers, longer sales cycles, and unique lead-generation strategies. Additionally, B2B online platforms might require features like custom pricing, bulk discounts, content-rich resources, and integrations with business systems. Understanding these nuances is essential to succeed in the B2B online marketplace. Furthermore, building and nurturing long-term relationships with business clients can lead to sustained growth and profitability.
Frequently Asked Questions
How is B2B online selling different from B2C?
B2B focuses on selling to businesses with considerations like bulk pricing, longer payment terms, and multiple decision-makers, while B2C targets individual consumers.
What are standard payment terms in B2B transactions?
Net 30 and Net 60 are standard payment terms, giving businesses 30 or 60 days to pay after receiving the invoice.
Why is content important for B2B online selling?
Content, like product details, case studies, and whitepapers, helps businesses make informed decisions and positions the seller as an expert.
Do B2B online platforms offer custom pricing?
Many B2B platforms allow custom quotes and bulk discounts based on order volume or long-term business relationships.
How can I build long-term relationships with business clients?
Offer excellent post-sale support, loyalty programs, and regular check-ins to nurture and strengthen business relationships.
