The B2B or business-to-business sector of the economy is massive. Companies transact with each other all the time to bring you the products that you love. Accountants sell their services to retail companies, equipment manufacturers to food producers, and fuel companies to warehouses. Most of this goes on behind the scenes, meaning that the majority of entrepreneurs don’t actually pay it much attention, but they should. B2B has a lot to teach us all about how to generate fabulous incomes, no matter what market we’re in.
Offer Subscription Payment Methods
B2B companies usually sell their products and services on a “retainer” model. A retainer is where the buying company pays a fee to the seller every month and is then free to draw upon their services when they need them.
Subscriptions are similar, but usually, involve a more intense provision of services across the month.
Subscription models are intelligent because they allow B2B firms to manage financial risk. A steady stream of income is much more desirable than chunks of money here and there.
Offer End-To-End Service Provision
Gas oil can be bought from suppliers online. It’s a service that many industrial companies rely on every day to keep their plant and equipment running. Gas oil, however, is tricky to transport, and the large barrels that it arrives in are tough to dispose of.
B2B, companies, therefore, provide gas oil “as a service.” They fill the drums, deliver them to the site, and then take away old drums for reuse, negating the need for the customer to do anything themselves.
The gas oil industry is just one example of how B2B companies offer an integrated service that asks as little of the customer as possible. There are many more. You can apply the same in your industry, eliminate customer pain points, and start enjoying the profitable rewards of delivering a service that your customers love.
Create Industry-Leading Content
B2B enterprises do their marketing a little differently from traditional, consumer-facing companies. Instead of creating catchy jingles, they focus more on creating industry-leading content, mainly white papers. The idea here is to set the company up as an authority on a particular topic, generating trust and giving decision-makers in organizations the confidence to choose their products.
As somebody looking to make money, you can do the same. Try to create a library of material that your audience can use and share with their peers. The more helpful the content, the more likely you are to attract new business in the future.
Offer A Support Team
Offering a support team might sound like a significant commitment, but it is something that practically all B2B companies do. The reason is that B2B products are complicated. Firms often need bespoke solutions for their problems. It is rarely a matter of buying a product off the shelf and then putting it to use. It takes time and planning to implement.
Support, therefore, is an essential part of the service. If you want to gain the confidence of your customers and sell more products, it is a good idea to offer someone they can contact if they get into trouble.