What is B2B Sales? Guide on How To Master B2B Sales

B2B or business to business represents the transaction in which one business sells its product to another business. For example, think of a manufacturing company selling raw materials to a production company. Or an automation software company making a deal with a startup to provide their software solutions. 

B2B transactions involve a deep understanding of the other business’ specific needs and providing tailored solutions that fit these needs. In fact, B2B sales involve product demos, negotiations, and detailed touchpoints, leading to a longer close time.

B2B sales are characterized by:

• More Educated Buyers and Sellers
• Larger Transaction Amounts
• High-Cost Pricing
• Recurring Transactions and Contracts
• Personalized Sales Process
• Longer Sales Cycle

‍

Types of B2B Sales:

Depending on your business model and your sales process, there are three B2B sales types: 

1. Supply Sales: In supply sales, B2B companies sell consumables to other businesses – for example, office supplies, equipment, clothes, etc. 
2. Wholesale or Distribution Sales: The wholesaler distributes to other businesses manufacturing or retail components, such as raw materials. Think about a convenience store that might purchase stock from a wholesaler – that’s a B2B transaction. 
3. Software or Service Sales: This is one of the most common B2B sales in the online world. In this situation, the service or software provider sells their products – mainly SaaS products – to other businesses to help them support their operations. For example, a startup may purchase a Design System in Figma for a standard payment. 

The difference between B2B and B2C businesses is their target market. While B2B companies are focused on selling their products to other companies, B2C businesses’ strategy solely focuses on its customers. 

In other words, a B2B transaction is when a convenience store purchases stock from a wholesaler, while a B2C sale is when we (as people) go to the store to buy some milk. For this reason, the marketing for each business model will differ due to the different needs of each audience.

But it’s not only the marketing that might differ! It’s also the entire sales process. There will be a longer sales cycle with possible negotiation and customized solutions regarding a business to business model. On the other hand, the sales process is simply determined by the simple exchange of products and payments, with less emphasis on personal relationships, and rarely is the communication direct.

‍

Key differences between B2B and B2C sales:

• B2B is usually represented by a lower volume of sales at a higher price, while B2C is at a higher volume of sales at a lower price. 
• B2B is focused on education and improving efficiency for other businesses, while B2C is focused on entertainment, needs, and convenience.
• B2B is based on interpersonal communication and focuses on customer service, whereas B2C is solely based on transactional relationships.

Back then, the old-school process of B2B sales was simple. Just a cold outreach from the marketing teams would be enough to collect leads – leads that would later be passed on to the sales team to close them. This would also be the strategy for SaaS companies. 

The modern B2B sales process is much more complex and involves more collaboration, relationship-building, and user-centric approaches. From the initial prospecting to the final stages of closing a deal, sales representatives are required to create a close relationship with our potential customers through multiple methods: 

• Cold Calling: contacting leads and converting them – entirely over the phone.
• Outbound Emails: managing and sending emails to your lead lists.
• Social Selling: creating a community on social media and pitching to your leads through social media channels.

‍

The B2B sales process is defined by seven steps that we should follow for a successful B2B transaction and nurture the relationship with our customers:

1. Define Your Target Market
2. Market Research
3. Qualification
4. Pitching
5. Managing Objections
6. Closing the Deal
7. Follow-Up and Check-In

With the B2B market expanding more and more, B2B salespeople must adapt to the ever-changing customer behavior and needs through multiple sales techniques. Here are some of the best B2B sales techniques that will help you close a deal faster and more effectively:

‍

1. Marketing + Sales Alignment

The days when sales teams and marketing teams were working separately are over. Now, to really create a long-lasting relationship with our lead, these two teams must work together to understand the buyer’s pain points and preferences. This way, they must agree on how to sell their solution and work in a feedback loop. 

Even more so, marketing and sales teams should now work in a centralized hub where everyone has access to lead data and their stage in the funnel. Yes, I’m talking about a customer relationship management (CRM) system. This way, we can gain actionable insights into customer behavior and analyze performance metrics on what works and what doesn’t. 

‍

2. Solution-Based Selling

Solution selling refers to completely understanding our lead’s pain points, challenges, and needs and proposing a product or service that solves their problems. This means that solution selling relies on developing customized plans and pitching a bundle of products (or features) that meet our customers’ needs. 

So, we must have a complex image of our ideal customer. Here are the steps for a successful solution: prospect, qualify, discover, add value, present, and close. 

‍

3. Value-Based Selling

Yes, this is a no-brainer. But what is value-based selling exactly? It refers to highlighting the value and the benefits our potential customers will gain from using our product or service rather than focusing on the features themselves. It’s all about making them feel like they’re investing in themselves rather than purchasing a simple product. 

Even more so, in value-based selling, we focus more on our customers and their needs and preferences rather than our product as a standalone offer. For this reason, as in solution-based selling, we must thoroughly understand who our customers are and how our product can help them achieve their desired outcomes. 

‍

4. Content Marketing Strategy

Have you ever heard the phrase “Content is King”? Well, customers will know about us before we even get to know them and talk to them. And how exactly? Exactly, through our content. Whether it’s on our website, on a landing page, or even on social media, we must ensure that we capture their attention with compelling content. 

In fact, 69% of successful B2B businesses have a well-documented and compelling content marketing strategy. And it makes sense! On average, B2B buyers click on 13 content pages before purchasing. So, if you’re not already prioritizing your content marketing strategy, it’s time to start now. Your content will do the work for you!