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In today’s digital and interconnected world, anywhere you look — there are new businesses constantly coming to life, providing new products and services to global consumers. And while most businesses sell directly to the people, there is a whole separate world of B2B companies.
B2B (business-to-business) companies have significantly grown over the last couple of years, now valued at over $20 trillion, which is more than 5 times the B2C market, and there are several reasons for that (we’ll dive into them soon).
Much like in B2C commerce, the ultimate driving force of B2B success and longevity is sales, though they drastically differ from traditional business-to-consumer sales.
Without further ado, let’s dive into the complex world of B2B sales and explore how they transform modern businesses for growth and success.
What is B2B sales?
what is B2B sales
what is b2b sales
The definition of B2B sales is quite straightforward — it’s the sales transactions between businesses and other businesses, rather than between businesses and individuals like in traditional sales.
In essence, it’s the practice of one company selling their products or services to other businesses, which in turn helps them better operate their workflows. Just to get a perspective of the sheer volume of B2B transactions, virtually all B2C companies rely on B2B products and services to keep their businesses running.
To better understand what’s B2B sales and how it works, think of a marketing software company selling their product to an e-commerce store selling clothing and accessories. The store will pay for the software on a subscription basis to use the marketing platform for running marketing campaigns and attracting new customers.
Everyone wins!
In B2B sales, there are 3 main roles, each responsible for different stages of the sales funnel:
- SDR → sales development representatives are responsible for outbound prospecting, qualifying leads, and engaging qualified prospects in the initial stages.
- AE → account executives will then take over the qualified and potentially interested prospects with more engagement and nurturing to provide assistance throughout the buyer journey, ultimately pushing toward a closed deal.
- BDR → business development representatives typically focus on creating new business opportunities and building long-term connections to create new sales streams.
Real-world scenarios of B2B sales
When we talk about B2B sales, it might sound a bit abstract at first and you may ask the question, “What are b2b sales examples?” We got you.