B2B

B2B is defined as an abbreviation for business-to-business and is a business relationship where a company's customers are other businesses.

Facts About B2B

• B2B sales are focused on a very narrow segment that has a use for your product.
• B2B sales are almost entirely based on a rational decision of business value to your customer. The product will simplify a task, provide less waste, increase productivity or cut down labor costs.
• The B2B sales market heavily relies on relationship selling.
• The sales are obtained in a longer sales cycle than B2C sales. A business may buy a few of the products to evaluate and then a larger order will follow the evaluation of the first few.
• The bill is usually paid on a net 30-day schedule so the profit to be achieved is at least a month out on most sales.