This guide explains business-to-business (B2B) sales, exploring examples of B2B sales and the core B2B sales process. 

Read on and learn to measure B2B sales success to maximize results and boost your bottom line.

What is B2B sales? 

B2B sales describe transactions between companies. Instead of providing goods or services to individuals — as is the case in business-to-consumer (B2C) sales — B2B companies sell to other companies. 

A business acts differently than a consumer, from its buying behavior and decision-making processes to the number of negotiations and stakeholders involved.

What are the main features of B2B sales?

B2B sales are often characterized by long sales cycles and high-value transactions involving multiple stakeholders. The B2B sales process is often much more complex than a typical B2C buyer's journey — conversions often require months of careful planning and detailed negotiations. 

Because B2B sales often occur between sales teams, the process demands a dedication to customer relationship management (CRM). Careful communication with your leads can improve your chances of striking a deal that benefits both parties.

What are the main types of B2B sales?

B2B sales are often categorized by the type of commodity involved. Product- and service-based B2B sales are relatively self-explanatory, but solution-based B2B sales can describe either physical products or services.

Product-based sales 

Manufacturing companies are the epitome of product-based B2B sales. Since manufacturers develop tangible goods, they focus on the quantity and quality of their products when developing B2B relationships. These products include everything from cleaning supplies to electronic components. 

Service-based sales

Expertise and reliability are at the core of service-based sales. Software-as-a-service (SaaS) is a type of service-based B2B sale that prioritizes technical capabilities in solving business problems. 

For example, point-of-sale (POS) systems and related software helps your favorite restaurants charge you for your meal. Those POS systems came from a service-based B2B sale.

Solution-based sales 

B2B sales that involve solutions combine products and services to deepen a company's value proposition. 

Facility management services are a prime example of B2B solution-based sales. Services provided by facilities management companies often include maintenance and inspections, while specific products can consist of solutions like LED lighting or carbon monoxide detectors. 

What is involved in the B2B sales process?

Businesses cultivate B2B sales using a combination of electronic communication tools and in-person networking. Each B2B interaction requires a tailored approach to ensure the highest chances of success. 

That said, a standard B2B sales process incorporates an established formula:

Lead generation

Before generating any leads, sales teams must identify their ideal buyer persona, exploring their pain points and motivations. Matching those essential qualities to prospects enables sales teams to optimize outreach via text, email, phone calls, or networking events. 

The better the research a sales team does at this stage, the more likely it is to generate quality leads. 

Qualification

Qualifying leads requires assessing how well a particular product or service fits a company and its needs. Sales representatives should always qualify leads before pursuing them further to ensure success. 

Sales proposal

When making a B2B sales proposal, you should contact sales associates, account executives, and other internal stakeholders to share the specifics. Your proposal may include a presentation, a written report, or both. 

Lead generation and qualification contribute heavily to the success of a B2B sales proposal, so don't just skip straight to this step. 

Negotiation

The process of negotiating B2B sales can vary significantly from one business to the next. 

Depending on the companies and stakes involved, this step can last a few hours or several months. During negotiations, representatives from both sides typically trade proposals until they reach an agreement. 

Closing

Although closing a B2B sale technically wraps up the negotiation process, some companies may wish to bargain until the ink dries to maximize their return on investment. 

Still, closing a B2B sale deserves a celebration, as everyone involved in prospecting, development, and negotiations will have spent countless hours working toward this moment. 

Customer support

Once a deal has been struck, both businesses enter a partnership. The servicing company should be prepared to provide support for the duration of the contract. 

Maintaining such a working relationship ensures the continued satisfaction of the B2B sale. Many companies also leverage their B2B relationship to develop case studies and testimonials, which can prove invaluable when approaching other businesses for similar sales.

How to measure B2B sales success

ou can roughly estimate your return on investment by evaluating the following: 

• The number of new leads in the sales pipeline
• Of those leads, the number that have converted to customers
• The annual contract value (ACV)
• The customer lifetime value (CLV) 

Ultimately, winning the contract itself is the best measure of a successful sale. When you can duplicate your process and partner with other businesses on top of that, you'll know you're doing something right.

What are some tips for maximizing your B2B sales?

Hone your B2B marketing skills and sales techniques with the following best practices: 

• Get the balance right between automation and a human touch to cultivate long-lasting relationships
• Prioritize your leads based on their likelihood of conversion, dedicating the majority of your attention to those most likely to convert.
• Leverage social proof and social media to network, engage with prospects, establish your brand's credibility, and increase visibility.

Remember, B2B sales aren't done alone. Leverage the skills your team brings to the table to optimize your efforts and increase the chances of your success. 

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