What is B2B and How Does It Work?
B2B, also known as business to business, refers to the business or transaction between two or more businesses such as between a wholesaler and a manufacturer, or even a wholesaler with the retailer. Distribution is what brings out the true essence of the business that is conducted between these companies, rather than the business of an individual customer to a company. These kinds of transactions are most frequent in the auto industry, and even property management and housekeeping.
B2B transactions mostly tend to occur in the supply chain, where one company purchases raw materials from another to use in their manufacturing process. The growth of companies like Postman or Freshdesk has shown that India can also build a market for B2B, even in this modern day and age.
B2B business models depend on a few crucial factors – There has to be a large enough market such that you can have a low-cost mass-producing goods, or even a competitive cost structure to keep the balance, access to the product, and availability of talent. Rather than marketing to individuals who immediately purchase a product like a typical B2C eCommerce business, B2B businesses strategically reach out to other businesses.
The Rise And Rise Of B2B During The Pandemic
The pandemic has caused the B2B market to rethink the strategy and create an enormous amount of change. Because of this, it is different compared to the previous year and some trains have accelerated upfront because of the pandemic. Like the rise of digital for the significance of content marketing, artificial intelligence andlow-costng automation, account-based marketing. Most B2B marketers have changed the direction and strategies according to the friendship which has enabled them to tune in their approach.
The audience is changing and digital marketing efforts are being implemented. new payment options are being brought and according to the B2B e-commerce statistics. Some of the top trains are to focus on new customer acquisition and user experience with the acceleration of online marketplaces and the companies are trying to embrace the B2B mobile commerce which allows them to grow their expectations of the B2B customer personalization and the adoption of B2B customer loyalty. The integration of systems for multi-channel selling provides a faster demand for B2B order fulfilment.
B2B Startups in India
Udaan
It is an online B2B marketplace for multi-category products, founded in the year 2016, and is based out of Bangalore, India. It was created particularly to trade most feasibly for SMEs in India. Udaan is the biggest B2B trade platform in the country which allows traders, manufacturers, retailers as well as wholesalers to sell and abstain goods on a single platform.
Both the sellers and buyers can get into contact with each other to finalize the deal within a matter of minutes. The company has already entered into the unicorn club and apart from trading it provides the users with information about all the latest trends and give them an AI-driven insight to get more success. the total amount of funding that has been disclosed is around 900 million USD.
Inmobi
This is a very profitable B2B startup which is located in India and has grown at a very fast pace over the years. It is a mobile marketing platform for worldwide enterprises. The reach among the customers for this company is very high, especially those customers who are looking for new products and services to be provided on their smartphones.
The company provides them with relevant recommendations on the mobile devices in a way that doesn’t interrupt them and engages them at the same time. it has been valued at 1 billion dollars and in recent years Inmobi has successfully become a unicorn company in India.
Delhivery
Since the company started in the year 2011 they have come a long way. They are based in Gurugram which has now become India’s most leading delivery and supply chain firm. They have more than 25000 delivery partners with their branches located at more than 30 places all across India.
Their main priority is the E-Commerce businesses and in the near future, they are planning to add more warehouses to the steam line of the company to provide more strength and operation. it is the first logistics company to be included in the unicorn list in India.
Pine Labs
This is a B2B financing and POS service company. comments in the year 1998 the company provides various services which also include EMI as well as cashback and discount programs with loyalty programs having dynamic currency conversion and targeted promotions and many more. The company operates in moreover than 3700 cities across India, Malaysia and many more Asian countries.
The latest technical innovation that was brought in using the smartphone is the point of a sales machine instead of their traditional POS systems. they successfully partnered up with Google to help them in the process of UPI payment.
Perpule
The company has prioritised making payments more feasible in the retail stores and this is to help all the shoppers avoid queues during the checkout. He was founded in the year 2015 by Abhinav Pathak and Yogesh Ghaturle.
It is a fintech platform that is essentially a long queue buster at the busiest retailer Store. It also has leading investors such as prime minister partners or venture highway etc. it allows the customers to make payment in an online format with the help of the mobile devices by just scanning the barcodes that have already been printed on the product you are about to purchase.
Airpay
The company is based in Mumbai and it is a platform where one can acquire various financial services for example the payment gateway for mobile POS and net banking as well as digital payment. The company was founded by Amit Kapoor, Kunal Jhunjhunwala and Rohan Deshpande in the year 2012. they went on and successfully raise the fund of 3.6 million US dollars.
Get Fingage
The company is based in Bangalore and it helps the clients especially the freelancers for online sellers and even other startups or SMEs. The startup provides the customer with the option of outsourcing their account as well as finance. For example, services like invoice creation or cash flow management record expenses and file GST returns. All the services can be bought for 55 dollars annually. the company was incorporated in the year 2017 by Shubhumm Khandelwal.
Artscow
The company was incorporated 5 years ago into a house of a hundred artisans who are selling more than 10,000 products. It is a company that seeks the right set of circumstances to boost scalability and reach all across the world. The primary aim of the company is to become a global platform by settling in countries such as the UK or Israel or an Australian Singapore. They love to promote the culture and love and passion. It is an online marketplace where the products are segregated into different categories and under these categories,, the host product is mostly handcrafted or hand-stitched. The company provides liberty to manage the price. the people who make the product. It is also open to social media and networking which builds the brand in a more lucrative way and brings in more creators to the store or even the website.
Closing Thoughts
The B2B startup has made a huge impact on the economy by contributing to a lot of factors. Especially the innovation of Make in India is doing exceptional work by making the concentrated efforts of the consolidation of manufacturing in the ecosystem of India is being very efficient. The industry needs efficiency and this kind of young startup play an instrumental role in innovations that are made in India. It has become important to identify the sectors or products and the existing capabilities to consolidate the manufacturing face which will help strengthen India’s position in the global supply chain map.
