B2B is an acronym for "business to business." There are several ways to write this acronym. Some prefer to call it B2B, while others use BtoB or B-to-B, but they all refer to the same concept.
B2B is used to describe a business relationship that takes place between two companies or two professionals.
By definition, it’s the opposite of B2C, which stands for "business to consumer," referring to commercial activities between a company and the general public.
In reality, B2B makes up the majority of commercial transactions globally.
Its main characteristic is that the product is often not sold to its end-user but rather to an intermediary or another company. This can involve a business selling to its target market via a direct or an indirect distribution channel, with sales occurring strictly online, offline, or through a hybrid business model, such as click and mortar.
Like traditional commerce, B2B businesses also rely on a marketing strategy using a variety of types of content. In this regard, inbound marketing, often powered by word of mouth, has recently emerged as one of the best acquisition and conversion strategies.
It's also important to know that B2B customers operate differently from B2C buyers.
Generally, when exchanges occur between professionals, the average sales cycle is longer. However, the volume of product orders is also more significant.
This longer sales cycle is due to the involvement of multiple parties. In B2B transactions, sales are often made after the approval of several people. Numerous interactions are necessary between the seller and the customer before making a purchase.
Likewise, salespeople specializing in B2B don’t address their target in the same way. This is generally a very well-informed audience, with more technical needs and very specific expectations.
Negotiations are also more crucial, involving many interactions between buyers and sellers.
