The Selling Factory

What Is B2B and How is IT Evolving?

Written by Sue-Ming Frauenhofer

Graduating soon with a Master’s degree in Management at UF, Sue-Ming is a Sales Development Representative at The Selling Factory. She is eager to drive results in a business analytics role where she can balance both her creative and methodical sides. No matter what industry, she hopes to serve others through her growth acumen, execution focus, and communication skills.

Photo by Content Pixie from Pexels

I’ll scratch your back if you scratch mine. That’s kind of how B2B sales works. B2B sales are expected to reach $1.8 trillion by 2023, a whopping three times as much as the $600 billion that B2C sales are expected to hit by 2024. Carefully grasping the dynamics of the B2B sales process and executing sales strategies is necessary when operating this ever-evolving business model.

What Is B2B Sales?

B2B is a business model in which businesses sell to other businesses. Through their products and services, B2B companies hope to serve their client companies by boosting their internal efforts and creating more predictable revenue streams.  

B2B vs. B2C Sales: What’s the Difference?

If this doesn’t make sense yet, let’s compare the sales process of B2B vs. B2C. Customers of B2C companies are the people who directly purchase a product or service. For example, people who go out to eat at restaurants or hire someone to renovate their home. Some cases are not B2B vs. B2C exclusive. Companies can have a mix of both models and offer their products and services directly to customers as well as client-companies, who then offer the products or services directly to customers. 

What Can the B2B Model Do for You?

The B2B business model presents distinct advantages, undergoing constant evolution with advancements in technology. Let’s discuss the four main benefits a B2B business model brings.

  1. Bigger sales: Sometimes, business buyers require products made specifically for their businesses. This product specificity will almost guarantee purchases if executed right. Due to this, B2B sales tend to be larger and longer-lasting than a standard retail order, which ultimately means higher and more predictable revenue

  2. Long-lasting relationships: B2B buyers and sellers may buy from each other, establishing long-lasting relationships and cost-saving opportunities. Additionally, you can create partnerships with retailers that result in regular orders. B2B companies will often hold a relationship with a buyer for years, while a B2C business will only have a sporadic relationship with a buyer. 

  3. Data-driven effectiveness: Through B2B sales exists a data centric process that drives effective management for client-companies. With sales prospecting tools and analytical insights, B2B companies can target a large market of companies across industries. At the same time, they have the flexibility of specializing in an area like technology to become a leader in the field.

  4. Lower operational costs: The B2B business model incurs lower costs of operation due to its ability to operate in bulk. The ease of advertising to other businesses through B2B websites can also help cut marketing costs and boost conversion rates.

What Can You Do for the B2B Model?  

The right understanding and execution of specific ingredients can make your B2B business model a success. There are four main things that thriving B2B companies should have.

  1. Defined audience: Since it’s inefficient to market to everyone at once, you should have a strong sense of your target audience. These client-companies would optimally have the highest probability of purchasing what you offer. This will help you narrow your focus to a specific market during the lead generation and sales prospecting process.

  2. Persuading context: Create content that resonates with your targeted audience. What does this group of people care about? What do they respond to? How do they buy? B2B companies answer these questions by researching the motivations, pain points, and buying behaviors of other businesses.

  3. Content optimization: Market your product or service in a way that allows your target audience to learn and work smarter. Create awareness of the benefits of the product or service, and how it will ultimately make their life easier. Beyond that, what makes your approach unique from others? As clientele are ever-evolving, we must tweak and adapt our B2B business model as needed. Utilizing content marketing is a powerful way to make your brand more credible.

  4. Social media accounts: Having a social media presence allows you to generate more leads and get to know your existing customers better. When interviewing marketers, 57% have generated leads from LinkedIn, 52% from Facebook and 44% from Twitter. By sharing your views and answering questions, you can showcase your expertise and build trust with your customer base.

B2B Success Stories 

If you find yourself still wondering “What is B2B Sales?”, you can also understand the model through examples of success. Companies like Phalanx and Feathr have done an excellent job facilitating their B2B sales processes. Both businesses claimed success by collaborating with their outsourced sales team and taking a hands-on approach to lead generation and sales prospecting. Through rigorous research and outreach, B2B companies can truly understand their client needs and create more predictable revenue streams, ultimately leading to business growth. 

Sources:

  1. https://www.forrester.com/report/US+B2B+eCommerce+Will+Hit+18+Trillion+By+2023/-/E-RES136173

  2. https://www.statista.com/statistics/272391/us-retail-e-commerce-sales-forecast/

  3. https://www.smartinsights.com/digital-marketing-strategy/digital-strategy-development/creating-a-b2b-marketing-plan-infographic/

Kira Baker

Campaign Manager

Kira is a recent graduate from the University of Florida where she received her Master of Science in Entrepreneurship. She is passionate about helping businesses grow and connecting with new people. Some of her hobbies include traveling and hiking. She hope to visit all of the National Parks one day!

kira@thesellingfactory.com

Jared Glosser

Vice President

After graduating from UF in 2014 with a B.A. in history, Jared started his professional career Fundraising for a non-partisan political lobby in South Florida. In 2016, Jared moved back to Gainesville to work for a non-profit, recruit students for international travel opportunities, and pursue his MBA at UF. Jared has been with The Selling Factory since 2019 focusing on operations, client onboarding, and client success.

jared@thesellingfactory.com

Ian Massenburg

Chief Operating Officer

A graduate of University of Florida (B.A. 2001), Ian Massenburg brings over 18 years of sales executive and sales management experience to The Selling Factory. Before coming on-board, Ian worked alongside Brad at Infinite Energy, and then spent his next 3 years as VP of Partnerships selling SaaS products B2B. Ian brings his vast knowledge and experience to the team and to our partner companies served.

ian@thesellingfactory.com

Damien Paulk

Campaign Manager

Damien is a University of Florida graduate that recently joined the team full time after working as a Sales Development Intern for one year. As a Campaign Manager, Damien looks forward to contributing to the growth and success of The Selling Factory. When Damien is not at work he enjoys exploring Gainesville with his girlfriend and dog or watching the Gators dominate college football.

damien@thesellingfactory.com

Brendan Viehman

Campaign Manager

Brendan graduated from Liberty University with a Bachelor of Science in Business Administration and Project Management. For the past 5 years, he has enjoyed working with blockchain technology and cryptocurrency development. In his free time, he surfs and makes personal finance videos for his YouTube channel.

brendan@thesellingfactory.com

Savannah Howard

Campaign Manager

A graduate from the University of Florida’s College of Journalism and Communications, Savannah obtained her Bachelor of Science in public relations with a concentration in French. After almost two years as a sales development intern for The Selling Factory, she joined the leadership team in 2021 taking on the role of Campaign Manager. In her free time, Savannah enjoys going to concerts and festivals and cooking for her friends and family.

savannah@thesellingfactory.com

Zack Kampf

Campaign Manager

Zack is a creative technologist with experience in advertising, event planning, and game design. He started as an SDR in 2018 and has been with TSF ever since. Upon graduating UF in 2019 he became a campaign manager and is currently seeking a master's degree from NYU. In his spare time, you can find him at the intersection of Art & Technology!

zack@thesellingfactory.com

Josiah Blakemore

Campaign Manager

Josiah has over 8 years of sales experience, worked with Brad and Ian at Infinite Energy, and also spent time selling SaaS as Director of Partnerships at SharpSpring. He’s always been very competitive and has a love for sports and games. He enjoys solving problems and coaching team members to do the same!

josiah@thesellingfactory.com

Sue-Ming Frauenhofer

Marketing Manager

Sue-Ming received both her B.S. in Psychology and M.S. in Management from The University of Florida. As a student, she led a psychology research lab on goal achievement and life satisfaction and took on multiple roles while interning at The Selling Factory, including sales development, marketing, and recruiting, eventually leading to her current role as Marketing Manager. Through her creative and methodical vision, she engages both students and entrepreneurs to help them find their version of success.

sueming@thesellingfactory.com

Adam Grossman

Chief Development Officer

Adam is an ordained rabbi, who has founded multiple ventures focused on workforce development. Hired as CEO by a failing non-profit, in over 5 years, his ingenuity saved the organization, which led Slingshotfund.org to recognize it as one of North America’s most innovative Jewish non-profits. His expertise to identify, cultivate, and on-board talent ensures our student teams meet our partners’ needs.

adam@thesellingfactory.com

Brad Gamble

Chief Executive Officer

After graduating from UF in 1999 with a B.S.B.A, Brad Gamble has dedicated himself to sales management, branding, coaching, and building companies. He served as the VP of Sales & Marketing for Infinite Energy until 2014, when he founded The Selling Factory. He has dedicated himself to teaching critical skills to tomorrow’s leaders, and helping companies achieve sales success and revenue growth.

brad@thesellingfactory.com