Those looking to start a business often get into a business-to-consumer (B2C) model, where you offer a product or service to private individuals, but this is not the only model available. There is also the business-to-business (B2B) model, where you cater to other businesses. Examples of these are companies selling hydraulic power units to an excavation company or an employment agency offering recruitment services to companies in need of personnel with specific requirements.

A B2B start-up doesn’t generate as much hype as B2Cs, but can be just as, if not more, profitable and fruitful if approached right. If you’re looking to hit it big in the B2B industry, here are some tips for you.

Do: Take advantage of digital marketing techniques to gather clients and build brand awareness

Social networking sites like Facebook or LinkedIn are a great way to drum up attention for your business. Search engine optimization (SEO) also helps by putting your website at the forefront of Google searches relevant to the product or service you offer. You can also invest in paid media like pay-per-click, e-mail marketing, and social media ads for a faster and more targeted approach. Remember that you’re catering to industry executives and not regular consumers. Address them with a professional and respectful tone.

Don’t: Underestimate the benefits of working with a digital marketing agency

You may hear success stories of businesses who succeed in marketing their brand without the help of a fully-fledged marketing team or an external agency, but the chances of that happening to every company are exceedingly rare. There’s no secret formula to going viral, and if you choose to rely on those minuscule chances instead of investing in digital marketing services, you’re going to miss out on getting much-needed clients. Don’t hesitate to hire digital marketing experts or work with a digital marketing agency. The investment will be well worth it if it gets you clients in the soonest possible time.

Don’t: Lower your prices

Many start-ups are of the mindset that lowering their prices will help them get customers. While this may be true for a B2C model, businesses are more willing to pay a higher price if it means getting the best option. Businesses will often distrust a company that’s offering their services at too-low prices. Instead, research your competitors to determine the mean industry pricing.

Do: Add value to your offerings

Instead of lowering your prices, focus on adding value to your products and services. Combat your competitors by offering what they’re not. Provide extra customer support, certified employees, faster results, an expanded service line up, better quality, and so on. If prospective clients see that your company offers more value, they will be willing to partner with you even if your portfolio isn’t as extensive as your competition.

Running a B2B start-up can be a daunting process, especially knowing that B2B companies expect slower sales rates due to long purchase requisition cycles. However, once you land a client, work to maintain a fruitful and lasting relationship with them. Constantly reinvest into your business to provide better services in the future. With enough grit and persistence, you’ll surely succeed.

Paul Petersen