B2B (business-to-business) simply means buying and selling of products and services between two companies. It is slightly different from business to customer services, as the B2B market is driven by low profit margins and lower prices while peer pressure, latest trends, products popularity are the deciding factors for B2C business.
Years 2016-17 were the watershed for almost every sector of the Indian market. The storm of demonetization and GST had a temporary side effect for all sectors in the past years. However, they have seemed to benefit the B2B sector in the long run. Demonetization plays an incredible role in marking the online presence of the B2B section in India.
In 2018, the B2B industry keeps on adding new colors to its growth and experience high developments on India. It has evolved as the most beautiful platform, where every marketer wants to explore more. If we talk about some big global markets like China, US, Japan, the B2B market has much evolved than the B2C sector. Also, the B2B market is blossoming in India with a fast pace.
According to experts, this shift from offline to online market is prominent. Team LiveSauda has found that the credit behind the success is the advent of the internet and Social Media. The advent of the Internet has revolutionized the whole world of B2B sector in India. It not only helps to cross the regional boundaries but it also allows the business owners to interact with the final consumers.
From the rise in investment to the flow of start-ups in the B2B market in India, this segment has become the driver of many uncommon changes in recent years. The micro, small, medium or large enterprise, be it any case, every size of b2b business relied upon the development of digitalization in the sector. It helps the sector to improve engagement with the potential customers as well as increase the brand value. It makes easy for both buyer and seller to deal in B2B industry and this has ultimately increased the operational efficiencies of the businesses of the distributional pipeline.
Some of the common B2B marketing tips include establishing a Omni-channel marketing pipeline, interacting with the buyers, innovating the products, analyzing the buying pattern of the final consumer and creating an ecosystem of quality led-competition and not price-led competition.
It is encouraging to notice that the new amendments, patterns and effect of globalization have lead to the improvement of the growth of the wholesale markets. According to research, the business-to-business industry is expected to be of tens of thousands of billion by the year 2020. Therefore, we can say that technology, new investments, and social media redefine the position of B2B industry in India. All that is required is the capturing of the first mover advantage which lies ahead of the wholesale business owners.