Marketing well is the most important thing that a business can do, we market our business to try to generate a steady flow of customers and eventually gain a strong, trusted customer base.
One of the ways that smaller business owners try to market their business is through Business To Business marketing. This would include exhibiting at business exhibitions and networking events such as business breakfasts and lunches in the hope to connect with other businesses and as a result do further try to generate sales or gain a client.
Business To Business marketing has its advantages for certain companies, but there are also problems that it is facing such as:
Business To Business having a limited market
Business to business has its downfalls, one of them being that you as a business are only reaching a limited market. By limiting the amount of potential clients you are reaching, your chances of gaining a customer or client as a results decreases. If you are reaching a wider potential market, you will find that you will have a better chance of gaining more clients.
Slow Sales Process
Another challenge Business To Business faces is the slow sales process that it may take to gain a client. Some businesses may decide to oppose Business To Business as it is too time consuming, and focus on building a solid marketing structure in which it may take less time to gain clients. Some smaller business owners and entrepreneurs don't have the time to go to 3 meetings in a week to follow up leads from a Business To Business Exhibition, which may not guarantee any business.
E-Commerce Taking Over
E-Commerce has been the main challenge facing Business To Business Marketing, and with the progress in technology helping smaller business to market them online, the Business To Business Model has been seen as a more expensive and a less successful way of marketing. Some business however like companies which are based more about necessity and compliance may feel that the Business To Business model is something integral to their marketing plan, As Accountants we believe that Business To Business marketing is important as we deal with compliance that all businesses need to do, whereas more leisurely companies may not believe in the Business To Business model and would use E-Commerce to find more customers and generate more sales.