This is a contributor’s blogpost …
In business, there is a saying that goes ‘the customer is always right’. As a business owner, you probably use this as a means to success. The problem is that the saying isn’t correct because businesses can cut out the middleman. How do they do this, you ask? They do it by trading directly from one company to another. B2B, as it is called, is not a relatively new phenomenon, yet businesses act as if they have never heard of it before. Not only have you now heard of it, but you are about to find out why B2B is the future. Are you ready? You should be because this might change the way you do business forever.
They Invite You to the Party
Probably the greatest facet of dealing with companies is their openness. With consumers, you are constantly trying to figure out what they want while they guard it with secrecy. Your peers are different and will invite you to the table with open arms. The contract administration that follows can go either way, but that isn’t the point. The point is that there is no reason to waste time second guessing their motives. Instead, the creative thinking can focus on hitting the brief and increasing your chances of winning the contract.
Greater scope for what is the cry? The answer is pretty much anything you sell to customers. When you think about it, customers only have a small budget they can play with. Plus, they are one person, so there is no reason to buy in bulk. Companies are different as they are huge entities that need lots of resources. And, once they run out, they have to refill them again and again. The result is a greater scope to buy products and services, sign bigger contracts, and generate more revenue. Money isn’t everything, but it means a lot in this industry.
Photo courtesy of Wikimedia
With customers, you don’t want them to use logic because it increases the chances of bouncing. After all, once they start to overthink a purchase they can talk their way out of it. Dealing with fellow businesses is different. Because you know they are logical, you can plan and get one step ahead. For example, you are aware that their criteria include things such as price and quality. As a result, you can sell them a pitch which has these qualities at the top of the list.
To be honest, there is zero loyalty in business. However, there are habits that some firms won’t drop until the day they die. One such habit is to use a company that has provided results in the past because they don’t want anything to go wrong. As such, you can create contacts that last a very long time and make bucketfuls of cash. In this industry, those opportunities don’t come around too often so you need to grab them with both hands.
If you have never considered it before, now is the time to think about business to business trading.