Let's define what B2B means. Simply put, it means a business to
business transaction. That is to say a transaction that occurs between two
companies, as opposed to a transaction involving a consumer.
Most companies today are looking for additional streams of revenue that
complement their core business. If your core business services consumers (B2C),
you should consider targeting your product to businesses.
Your company may be a retailer, a sports organization, a loyalty program, or a
College or Institute. It is very possible that your company's offering may be
attractive to a new market, other businesses.
The gift card business is a great example of this concept. As a retailer, you
sell gift cards to your customers in your store for gift-giving, for birthdays,
and holidays, however, many retailers have huge success targeting that same
product to businesses. Gift Cards are a very popular tool for employee
incentives and customer loyalty. Because businesses have huge buying power, this
approach can drastically increase your revenue.
In most cases your product will not need any customization for the business
market, but you may need a new sales strategy, pricing strategy, marketing and
customer service support for your new customer base.
JW Consulting Group can help you effectively position your
product, build a sales and marketing strategy and build an effective Client
service support team to support this market.
One of the most important factors to
remember in running a B2B business is that almost all of your clients will also
have a customer.
Your client's customer may be another
large company, or may be a consumer who walks into a store. It may be an
internal executive in their organization or their entire employee base. No
matter who the end customer is, your company's success is defined by your
client's success and so on.
When you understand that you are not
only servicing your client but also theircustomer, you can focus your
whole strategy and operations to optimize your client's success. This ensures
100% satisfaction, which will drive loyalty and increased revenue for your
References available upon request