As the name implies, business sales are revenue generated during the period when brands conduct transactions. They involve money with goods or services to generate profit. To say a sale has occurred means there’s an agreement between the buyer and the seller of the service or goods.
There are various reasons why different people engage in deals. Some good salesmen say it helps provide company solutions to buyers needing it. Some go into sales because it opens them to connections and an opportunity to learn new things from people they meet. Others do it to acquire new and lasting relationships with customers.
However, the main purpose is for companies or individuals to generate revenue through the product or services rendered for purchase. Therefore, this article will carefully discuss the types of business sales and some of the representatives’ roles.
Types of Transactions
- B2B: Business-to-business, shortened to B2B, is between two services, buyers, or brands, just like the name implies. Unlike B2C, which is more direct, B2B is quite complicated. This type takes more time than most and usually deals with generating large revenue. They are also subdivided into 3; supply, distribution, and service sales.
- B2C: This is quite the opposite of B2B. Business-to-customer, as the name implies, are transactions between a brand and its customers. In this business sale, the seller isn’t always the creator or manufacturer of the service or product being sold. Instead, the brands sometimes serve as distributors for product manufacturers. This type of sale focuses on getting the customer to purchase the product, so attention is given to the price, emotional reaction, and branding.
- Complex or Enterprise: This is a type of B2B sale. Here, the targets are extremely big companies. The revenue generated here is large, but it involves a complex process yielding a multi-cycle complex contract hence the name. In the initial course of this type of sale, the focus is usually on the product. However, the emphasis slowly changes when the venture has rolled by many years. At this point, it’s not just the product that the buyer is purchasing but a system that includes the staff, a specific implementation, and a liaison.
- SaaS: The full meaning is service-as-a-software. That is when software is sold on subscription as a service, commonly sold by one provider. The main purpose of this type of Software-as-a-service business sales is to enable smaller brands to increase customer service through customer relationship management software. The way SaaS works is by the acquisition of new customers and upselling to previous ones. The complexity of SaaS products makes it hard for a regular person to describe the operation of some features.
- Direct: Defining this type of dealing requires a certain level of specificity. Other business sales under direct transactions use terminologies that aid easier understanding. There are three divisions or definitions used when explaining direct business sales. They are; direct-to-customer (DTC), direct, and B2C. This type of business sales describes two independent models for the seller. The first is Single-level marketing; the seller generates their income by buying straight from the manufacturer’s organization and selling to customers directly. While the second is Multi-level marketing, the seller signs up customers to become direct sellers.
The type of business sales you intend to do depends on the purpose it’s expected to serve you. If you want to increase brand recognition, increase order value and income, and lower customer acquisition costs, B2B business should suit you best. It’s expected that you do adequate research on the specific type you desire. In the end, finding the type of business sale that suits your company best will aid in generating revenue. Independently of the type, you can always partner with a Global PEO China to help you with you HR department