Most people who are new to the business world miss out on a market which is much bigger than the primary market they naturally focus all their attention on. They miss out on the business-to-business market in pursuit of the end-user, consumer market, whereas the B2B market is much, much bigger and offers lots more opportunities. It’s kind of secret which is hidden in plain sight, that of how targeting other businesses increases the chances of your fledgling business surviving, let alone succeeding, but there are a number of very specific reasons why the B2B market is much bigger than B2C.
You only have to look at B2B solutions such as using dot peen marking to get a clue as to why this is so, but we’ll get into a bit more detail.
Some established businesses thrive off of newly-established businesses
This makes for a bit of a negative view to start off with, but it’s a very necessary one, quite simply because that’s the reality. So, one of the reasons why the B2B market is much bigger than B2C is because there are B2B businesses that thrive off of the newly established ones, offering services and products which are touted as utilities to help the latter establish themselves easily. Moreover, since the products or services of B2B brands are deemed crucial for the growth of other companies, it becomes easier for the former to market their products. Take the example of businesses that create advanced medical devices with the help of IDR Medical and companies like it. By doing so, these businesses help hospitals to remain in operation. Without the right healthcare tools and equipment, it is highly unlikely that hospitals would function properly. Which is why sourcing the relevant materials and products such as Hyperboloid PCB Connectors through a hyperboloid connector supplier, for example, is a necessity to ensure that devices are created efficiently and safely so they can be relied upon. This is why it can be understandable why the B2B market is huge.
In fact, a simple podcast marketing technique (created perhaps with the help of Caspian Studios and similar firms) could provide B2B companies with 10 more potential customers who might have been on the lookout for their services.
Still wondering how this happens? Take, for instance, the case of a branding company. A branding company will always be in demand because of its services to a new business, giving that new business the impression that these are essential services that will help it survive and perhaps even thrive (it’s an entire industry, but that does not so say those aren’t indeed essential solutions which are being offered). This, further, makes it easy for the branding company to market its product and reach new customers as their services are considered important for the growth of other firms.
Businesses tend to help each other out
If you’re an entrepreneur and you happen to land a meeting with a prospective client, but that prospective client is an entire company, chances are it’ll be with a key decision-making figure who appreciates your hustler’s spirit. People in business tend to help each other in this way and that’s one reason why the B2B market is much bigger than B2C, where the client is likely in no mood to give anybody new any chances. The latest eCommerce data tends to suggest that trends in b2b ecommerce are increasingly shifting toward greater collaboration and transparency between businesses, such as increased data sharing, improved customer service, and flexible payment terms. This is allowing businesses to better serve their customers and to build relationships that go beyond just transactions.
B2B is just a naturally bigger market than B2C
Getting back to the specialized industrial marking systems I introduced earlier on this post (dot peen marking), this type of solution is perhaps one which exists entirely in the B2B world. In fact, many consumers probably don’t even know what industrial marking is, although they interact with it whenever they use the products or services of their retailer-level supplier of goods and services they buy from them.
The availability of tangible assets as collateral
A B2B solution such as industrial marking can be viewed as a method of using existing business infrastructure as some collateral, where the industrial marking service provider gains some marketing by mere virtue of rendering their service, for instance. Any established business which comes into contact with the industrial marking work of a company such as TechnoMark can immediately attribute the quality of the work to them, for instance, whereas end-user consumers probably don’t even know of the existence of such an industry as industrial marking and traceablity solutions.
