B2B stands for business-to-business.
More Info: B2B is the term used for business transactions executed between businesses such as the transactions between a retailer and a wholesaler.
Although business-to-business (B2B) marketing is conducted online and offline as well, the term “B2B” is generally used when referring to online transactions. In recent years, a great deal of emphasis has been placed on the enormity of the B2B market, and that it will eventually surpass the business-to-consumer (B2C) market. While this may be true, it is also possible that the B2B market will become crowded as well.
What You Can Do
Vendors should be aware that to succeed they need to offer a means of cutting costs and making processes more efficient. However, they are also risk-averse in these economic times and tend to divide the implementation of technological advancements into smaller segments now. The big-ticket contract has become a rarity, and in general, companies now have the more modest goal of working on a project-by-project basis.
New business should be plentiful for those vendors that emphasize two categories of B2B software-one that includes by-side offerings and e-procurement and another that zeroes in on the sell-side. Also, consolidation seems inevitable as some businesses fail or are purchased by larger, more successful ones. To succeed, all companies, regardless of their size, must respond to the needs of their clients and have the capacity to deliver a quick return on their investment.
Automation Is Essential
Industry experts agree that the need for completing internal automation projects is increasing, and this is especially true for manufacturers who want to update their method of tracking inventory, shipments, and production. In addition, many companies are likely to automate the partnership-relationship programs with similar businesses and begin selling platforms at the same time.
Be aware that, because savvy businesses and consumers use the Internet to do comparison shopping, your B2B marketing should be inbound, rather than outbound, signifying that they will probably take the initiative. This means that you should concentrate on establishing your brand and creating your messages online. It can be accomplished with techniques such as developing a website that is customer-centric, video marketing, social networking, search engine optimization (SEO), and press releases. Above all, make the needs of your customers a top priority, and your success is virtually guaranteed.
“B2B – Definition,” MarketingTerms.com, N.p., n.d. Web. 24 August 2010. http://www.marketingterms.com/dictionary/b2b/>
Lou Hirsh, “The Incredibly Quiet B2B Resurgence,” ECommerceTimes.com. October 18, 2002. Web. 24 August 2010. http://www.ecommercetimes.com/story/19718.html?wlc=1282697419>
“Small Business B2B Marketing Trends & Tips for 2010,” ESBJournal.com. N.p., n.d. Web. 24 August 2010. http://esbjournal.com/2010/01/small-business-b2b-marketing-trends-tips-for-2010/>