Understanding The B2B Business Model
Business-to-Business – B2B and Business-to-Consumer B2C are two distinct marketing types of strategies that companies have adopted, to target different types of customers so as to achieve their respective business goals.
Business-to-Business (B2B) Marketing:
B2B marketing involves businesses rendering services or selling products only to other organizations or businesses rather than to individuals. The target audiences in this type of marketing model are decision-makers in the companies, corporations, government entities, or any organization, looking to make purchases to support their operations.
The purchase processes are usually complex and longer because there are many stakeholders and departments involved in buy-in. These processes engender strong and lasting relationships between the companies, leading to long-term partnerships, loyalty, and repeat purchases.
B2B marketing helps businesses make smart logical and rational purchasing decisions. It enhances efficiency, and productivity and saves costs.
B2B marketing takes advantage of trade shows, industry events, professional networking, content marketing, email marketing, and targeted advertising as their marketing channels. Mingling Trends Marketing – Social Media Marketing Agency is a good example of the B2B platform.