INSIGHTS

You may be wondering what are B2B sales and how do they differentiate from B2C sales?

Business to business trades are sales between two businesses and business to consumer sales are when you sell directly to individuals.

B2B sales are often a long process and involve more negotiations but can ultimately lead to a more solid and longer lasting partnership and sales.

B2B transactions usually have higher order values and conversion rates and are generally more cost-effective for business owners.

So the question is, why are businesses getting cold feet on their purchasing decisions?

The pandemic has seen a massive decrease in the number of purchases made by B2B firms. A decline in purchasing can be due to many aspects of business proceedings. However, according to a report from sales enablement platform Showpad, 46% of B2B buyers have paused their buying decisions since March 2020, while 43% deprioritized them. These findings correlate specifically with the Covid pandemic and the overall cultural shift in customer experience due to remote selling.

 

Whilst the pandemic has indeed caused confusion and instability for businesses. Suitable training on switching over to digital technologies should once again give sellers confidence in their purchasing decisions, once established within the world of e-commerce.

The pandemic has hastened the switch to modern selling processes and thrown many businesses into disorder whilst slowing down their purchasing habits, but would this switch have been inevitable even without the pandemic?

The world of e-commerce can and should be taken full advantage of to engage with clients, partners, and prospects. The right amount of creativity and innovation means that there is no reason for businesses not to use e-commerce to create a new and improved customer experience.

Content marketing through websites, blog posts, social media marketing and email campaigns can be a way for B2B firms to gain new leads.

It is clear to see the disruption that the pandemic has caused and the steps that many businesses have taken to ensure their future security. It’s now time for businesses to seize the opportunities that e-commerce and online sales can bring in this new post-pandemic world.

For information on how Bellingham IT can protect your business, visit our security page.

 

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