November 14, 2011
Business Growth, Customer Management, Customer Relationship, Internet Business, Marketing Strategies, Online Business, Online Marketing
b2b, B2b Marketing, Business, Business Strategy, Business Tips
Business to business transactions revolve around the settling the deals to bring out maximum profits for both buyers as well as the sellers. It is a normal practice where the buyers attempt to make negotiations and the sellers look forward to draw good profits yet occasionally it is a different situation altogether. Sometimes as a supplier, it becomes important for you to pause and think if you are really interested to continue with a specific client. There are certain instances that should be able to tell you that this is the time to say ‘Goodbye’. Following are the situations that could help you come to a conclusion about the client:
Unreasonable Additional Favor: Draw The Line
When your client starts asking for undue favors from you in spite of the benefits that you have been providing him already as a bulk customer, you should not give in to his demands. It is good to crack the best possible deals but not at the stake of other customers who may get affected due to this.
Seeking Information of Competitors: Be Loyal To Your Business
There is every possibility that two of your clients could be arch rivals in the market and you have been serving them equally. If one day you find one of them getting curious about the personal details of the other, think about it on a serious note. Being a loyal business partner, you would definitely not want to share details of your client with the other while disturbing your other dealings. Do not let things get murkier and leave the client who may disturb your business.
Breach of Agreement: An Unworthy Client
An agreement is done when a legal bond is signed between the buyers and sellers. It is not just about the legal obligations but the mutual trust amongst the business partners, which makes your business run smoothly. If there is breach of that agreement it’s the breach of the mutual faith which is no way good for your business. However, if your partner doesn’t seem to have done it intentionally and posses a good track record then an explanation can be demanded. If not satisfied with the reasoning provided, you can shun the business relation right away.
Good business does not mean holding on to as many clients as possible, it’s about having a healthy relationship with select few who can deal ethically for mutual benefit. So when you realize that the client you are dealing with is getting difficult, just say Goodbye and move on.
March 7, 2011
B2B, B2B Portal
b2b, B2B Portal, SMEs
In the current revolutionary era of internet and the World Wide Web, B2B (business-to-business) portals have facilitated a perfect path for doing business for small and medium enterprises (SMEs) at low costs with greater convenience. These portals help in establishing new trading relationships between companies as well as support the existing relationships. The B2B portal can be termed as e-market place and primarily serves as a platform for wholesalers, retailers, distributors and manufacturers to converge together in order to carry out their business activities online. Moreover, these B2B portals have also started offering free business directory and local yellow pages.
B2B online marketing is essential for both the buyers and the sellers. For buyers it assists in searching new suppliers, post buying requests, and search for used or new goods. Again for a seller, B2B online marketing makes it easy to find out buyers for their products so that they could sell online new as well as used products.
B2B Website Is Cost Effective For SMEs
B2B website is a cost-effective medium to communicate about your products or services to the target markets. B2B website is easy to maneuver with minimum requirements like web browser, internet connection and added business listing that is beneficial for people engaged in this business.
In a B2B portal, marketing is exclusively done through online and has no print, distribution or postage costs as it is measurable through sophisticated tracking software. SMEs generally don’t possess big marketing budgets and therefore the portals have become right source for them to promote and attract new customers.
Low Cost Membership Fee
Membership fee is the only investment that the SMEs have to make to promote their products. These online market places provide its members with standardized supplier storefront and many of the same functions as a corporate website. Thus, B2B portals provide the opportunity to reach out to companies and businesses globally at very lower cost.
Advantages Of B2B Portals
The online marketplaces offer features and support services that are customized for international trade. This is a resourceful way to promote products directly to potential buyers. Again, B2B portals offer SMEs professional and easy to navigate templates, which are particularly designed to attract international buyers. B2B portals have also helped SMEs to engage in exports and imports.
Some Of The Benefits Of B2b Portals Are Listed Here-
- Minimizes the overall steps of selling procedures thus reducing cost of sales
- Low cost electronic medium in terms of time, money and resources
- Saves time for business transactions and commercial dealings between the buyer and the seller
- Facilitates the establishment of new trading relationships between companies and supports existing business relationships
- Business directory and search engines provided in B2B portals buyers assist in finding potential sellers
- Classifieds makes it easy to sell or purchase different products
- B2B Portals can deliver quantifiable returns on investment (ROI) in a matter of months
Thus, there exists several benefits with B2B portals and these portals provide the most efficient ways of reaching target markets.
March 3, 2011
b2b, B2B Selling
B2B selling is an effective method to display your offerings and enlist the company details. The advent of Internet has given totally a new dimension to the online businesses. It is a perfect way to enhance your credibility in the market and race ahead of your other competitors in the B2B world. There are various types of B2B selling methods that you can adopt for the benefit of your business. Read the write-up ahead to get yourself acquainted with different types of selling techniques:
It is a method that involves getting bids on a daily basis, which is enough to generate sales. It basically involves drawing as many prospective customers you want on a daily basis. But, they do not have a personal relationship with the buyer or are proficient enough in understanding the customers buying criteria.
The buyers feel that the only way of differentiation between the products and services is through their prices. The underlying assumption is that in order to race ahead in the competitive world, anyone can lower down their prices to generate more sales. There is no unending loyalty of the customers in this model.
In this method, customers directly call to the customer service for asking a query or the sales team for placing an order. This is a good opportunity for the company to inform the customer about other products in the catalogs or other special offers through emails, websites etc.
This is one of the most effective selling techniques. Herein, the customer is lucky to receive added value or more benefits on the purchase of the routine product. Even the sales team of the company receives certain amount of profit from the dealings done with the customers.
Good relationship with your buyers is imperative to keep your business going and touching the heights of success. It doesn’t mean that if a buyer likes you, it will help to enhance your sales. But, it will give you opportunities, which you did not have without that relationship. Building relationship is very significant to an extent for the growth and development of your firm.
To maximize your profit, B2B sales people can choose any method enlisted above as per the business needs and requirements.