Business to Business, also called B to B or b2b, is a type of transaction that exist between Two Business companies, such as one involving a manufacturer and wholesaler or a wholesaler and a retailer. This happens when one business makes a commercial transaction with another. Business to Business or B2B doesn’t happens between a company or an individual. B to B stands in contrast to business to consumer (B2C) and Business to Government (B2G) transaction.
What is B2B commerce?
In growing internet world, A sector knows as B2b E-Commerce has emerged as a result of the digital revolution. By using these online platforms, now business can sell directly to other business companies, as well as they can share their product data and information about products and services easily and quickly. For B2B E-Commerce there are three major categories.
- Web Development
- Supply and Procurement Exchange
What is B2B Marketing?
B2B Marketing refers to the techniques and best practices used by companies to sell their products to other business. B2B Marketing can be done by using digital platform like SEO, PPC, Landing Page Creation, Social Media and Email Marketing linked to CRM Marketing Automation System or a simple email auto-response system.
Five (5) best ways to B2B Marketing
- Through Email Marketing
- Content Marketing through Blogging and Microsites.
- Social Media and Search Marketing
- Develop Buyer Personas
- Measure your marketing
Advantages of B2B Business
- In B2B the Investment is much less than the other platform but the return is high
- Using B2B platform you can have access to Millions of Buyers and Sellers
- With the advancement of technology B2B Business can be done with the help of Electronic Commerce.
- B2B is a great way to Automate your sales.
- This is a smart way to Lift your search Engine Ranking.
- This is a Powerful Research Platform of Marketing.
- If you want to do Business Branding than there no better option than B2B.
- B2B Business is an Ideal place to expand your business Network.
Disadvantages of B2B Business
- Purchase decision time is very long. The greater part of shopper buy choices include one or maybe two chiefs and the aggregate time for a buy choice tends to keep running on the short side.
- Inverted Power Structure. Inside breaking points, normal buyers stay helpless before the organizations regarding what items they can purchase, the accessible highlights and at what value focuses the items offer. In B2B, purchasers use more power than dealers.
- The Sales process in B2B demands considerable face time.
- When a Business is selling to other business gets a much smaller buying pool than business selling to consumers.
Challenges of B2B Business in Bangladesh
Bangladesh is a growing market for every business but when it comes to B2B, this business faces a lot of problems. One of them is our people are not ready for these kinds of business. We tend to buy products in typical way where we will go to the company and make the deal in person. Another one is, this business demands a lot of technological knowledge which our people don’t have. Also the technological infrastructure in our county is not at per.