B2B is short for business to business. It refers to the selling of products and services by a business to other businesses. It is the exchange of products, services, or even information between businesses instead of businesses and consumers.
B2B businesses are present in almost every sector and every industry, from manufacturing to retail.
B2B transactions and sales often take the form of one business selling products and services to another. For example, amazon web services provide server level infrastructure for cloud computing to other businesses that operate on cloud.
Choosing what to sell and how to sell it will directly impact your business and how you operate becomes crucial. It also depends hugely on the type of business you are operating that are bound by geographical limitations until they go global.
Now, let’s take a look at the B2B businesses:
– Product-based businesses are mostly focused on tangible products and can be exclusively online, have a brick-and-mortar store, or both.
– Service-based businesses can also exist completely online or have a brick-and-mortar store just like tangible products, though this will be determined largely by what type of services you are selling.
– Software-based B2B businesses are purely online and almost always involve subscriptions to software that solve some problems or need for businesses.