What are B2B Sales Prospects in India in 2022

B2B sales prospects in India in 2022 are endless. Whether one is looking for a job role or running a start-up, there is good news! The role of B2B in the Indian economy has grown over the years. Today there are many noteworthy B2B examples in India. Thanks to the pandemic, more and more people have chosen to take the entrepreneurial route. While many have chosen D2C (Direct to Consumer) route, more have joined the B2B bandwagon.

India is poised to see a growth in the B2B segment in double digits. For example, just over 2021, there was a growth of over 9% in this segment. This number is about to touch more than 10.4% in 2022. There are many categories in which one can expect B2B growth. Leading the pack are -eCommerce, SaaS, logistics, and business automation, among others.

What is the meaning of B2B Sales?

B2B or business-to-business is where one company sells their products or services to other organizations. Some common examples are companies that provide consulting or auditing services to other companies like the Big Four.

In a more traditional context, in B2B sales, one company sells their products in bulk to another. For example, a company sells tons of packaging cartons each year to a logistics company. Or a hotel that distributes its room inventory to travel aggregators like Trivago.

B2B Examples in India

Udaan is a B2B eCommerce platform that helps retailers streamline their business as a one-stop solution. They help small and medium-sized retailers to iron out operations issues. In their own words, Udaan helps small businesses with better transparency, affordability and accessibility nationwide.

Discussing the B2B examples in India and excluding IndiaMART does not seem right. Before B2B got its place in the Indian economy, IndiaMART created an online place for manufacturers and buyers to meet. Even though the brand started in 1996, it is still relevant, and many B2B businesses generate leads from that platform.

One brand that dominates B2B worldwide (including India) is Google. While this may come as a shocker for many, Google generates its revenue from ads. Whether on their search platform, YouTube, or partner networks, Google serves B2B and mints money. Organizations pay billions of dollars to Google to show up in front of their target audience every day.

Difference between B2B, B2C, and D2C Sales

For the unversed, there can be utter confusion about B2B, B2C, and D2C segments and how is it different from each other. Business-to-business is all about organizations dealing with other companies. Whereas, Business-to-customers is where organizations sell their products and services to end customers via various channels. Examples of B2C companies are Procter & Gamble (P&G) and Hindustan Unilever.

If B2C is selling directly to the customer, how is it different from D2C or Direct-to-Customer? If one looks at the B2C explanation above, it’s all about reaching the customers via various channels. These could be wholesalers, retailers, agents or agencies. In D2C, the company cuts out the middleman and serves the public directly. Many start-ups in India have a complete D2C business model. Examples of such organizations are, Meatigo, Lenskart and Licious, among others.

What are B2B Sales Prospects in India in 2022

With the growth of the Indian economy, the B2B sales segment is also growing multi-fold. There are plenty of reasons for this bright future in this space. Firstly, with the advent of technology and the e-commerce boom, starting newer businesses has become easy. Most importantly, reaching new, underserved or unserved markets has become simple.

Job seekers and entrepreneurs can dive right into the e-commerce boom and build their future. There are plenty of jobs at all levels, and the perks are attractive. For entrepreneurs, it means exploring segments and taking the first bird advantage. For example, they could serve a specific niche and dominate it.

The B2B segment is betting big on automation, artificial intelligence and machine learning. Since these disciplines are now becoming part of large organizations, the scope of the B2B segment as a whole is unparallel. These disciplines also bring a holistic approach toward understanding the customer.

Promising B2B Start-ups in India

Captain Fresh is in the seafood industry, delivering fresh produce from harvest to retail. As per Crunchbase, they have raised $126.7 million in total. The series C round took place in April 2022. The company employs anywhere between 100-250 people.

Another B2B supply chain start-up to look out for is Ninjacart. Big investors like Tiger Global, and Nandan Nilekani, among others, back the company. Ninjacart is a cutting-edge supply chain player that brings fresh produce from farmers to businesses. The company has crossed revenue of INR 750 Crores FY21 and is poised to grow exponentially.

Most people are unaware that Amazon has a B2B wing that helps Indian organizations with bulk orders. Amazon Business is a platform that solves issues like fast, reliable delivery, GST invoicing, and bulk lower wholesale rates. This platform is best suited for small and medium business owners to iron out operational issues and keep them hassle-free.

B2B Sales Techniques

Business development professionals need more than an automated process to close deals. Undoubtedly, technology can help one streamline the sales process, from cold calling to an advanced sales funnel stage. But lacking sales techniques can lead to doom for any business development professional.

Here are some sales techniques that one can implement today and get the results sooner.

Social Selling

Selling is no longer restricted to traditional methods. Businesses have incorporated social media as part of their marketing strategy. Hence, sales associates must tap into this channel actively. As an example, one should message decision-makers of target companies on LinkedIn.

Sharing customer testimonials on social media with the right hashtags is a proven method of gathering social proof. Sales associates can then share testimonials with hot leads to convert.

CRM

Usually, sales professionals are very market-focused. They get engrossed in meeting the customers, hunting for new leads that they forget or undermine CRM platforms. While this may sound basic, most associates do not leverage the full power of the CRMs made available to them. One should have a tight grip over one’s leads and sales process. It can have a super impact on conversion.

Follow up

No kidding, Sherlock! The basis of all sales is via follow up. Everyone knows about it, and hardly a handful do it. The truth is most businesses do not buy in the first meeting. It is especially true for B2B sales since the sales cycle can be lengthy with long gestation periods. The reason follow-up features under techniques is because it is an art. Letting one’s prospect know from time to time that one cares for their business is crucial to success.

Personality Traits of a Successful B2B Sales Professional

Attitude matters more than aptitude at the end of the day in any aspect of our lives. While it is imperative to have the skills, it is equally crucial to groom oneself for a successful sales career. These traits apply to all formats like B2B, B2C and DTC.

Sense of Urgency

The number one trait that separates the wheat from hay is a sense of urgency. An adage says, “Hustle beats talent when talent doesn’t hustle”. No amount of learning, technology, or sales process can replace this trait in a sales professional. A sense of urgency is not a nice-to-have trait but a must-have trait to succeed in sales. Any sales professional who has a sense of urgency will never run out of a healthy sales pipeline.

Resourcefulness

No, this is not about money. The English dictionary says, “it is the ability to find quick and clever ways to overcome difficulties.” B2B Sales professionals may face complex objections, aggressive negotiations and custom solution demands from their prospects. The lack of resourcefulness can paralyze the deal, which might eventually go to the competition.

Being resourceful is also crucial for sales associates dealing with their organizations internally. These associates tend to crib and cry over things. They love to highlight the already existing problems instead of focusing on solutions. They blame their failure on their employers, colleagues, processes and policies.

Commitment and Integrity

Commitment and Integrity are essential for sales associates if they want to create a brand out of themselves. When sales associates are committed to their customers and prospects, they become dependable. Others see them as leaders, and leaders see them as assets to the company.

Since most associates work in the field all day, they have minimal supervision. Doing the right thing when no one is watching is called Integrity. Sales associates who live by this rule always find ways to add value to their portfolio. They always generate business. Such salespeople move up the ladder faster.

B2B Sales – Online Courses for Business Development

Those who aspire to become business development champions should sharpen their skills for a successful career. While umpteen amounts of information are available on the internet to reference, some courses cut the slack and teach you what you need to know.

One such course available on Udemy is Business Development Foundation – B2B Sales Ninja Bootcamp. It is a to-the-point course for B2B sales associates who work in start-ups or large organizations. It teaches one to think strategically. The course is full of real-life examples to give context to topics. 

Conclusion

The future of B2B Sales in India is not only promising but more. It has an exponential growth trajectory for anyone who wishes to hop on the bandwagon. Job seekers and entrepreneurs will gain from an early entry should they wish to pursue this discipline. In short, there is no point in waiting on the benches if Sales is one’s passion.

B2B Sales Ninja Bootcamp

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