The Beginners Guide BUSINESS TO BUSINESS (B2B) SALES

In your sales career, the abbreviation “B2B” has undoubtedly appeared innumerable times. B2B refers to business to business sales, or, to put it another way, the act of selling goods or services to other businesses as opposed to consumers, in case you are unfamiliar with the jargon.

Because they include selling to educated white collar professionals or decision-makers who are already familiar with corporate sales processes, business-to-business (B2B) sales are frequently more complicated than B2C (“business to consumer sales”). Because of this, B2B salespeople must adhere to a distinct set of guidelines and employ different tactics than their B2C counterparts.

The truth is that B2B sales will continue to rise in the next years. By 2023, it is predicted that B2B ecommerce will surpass a staggering $1.8 trillion in volume. This is just one of the many reasons it’s crucial that you sharpen your business-to-business sales skills. Here are a few tried-and-true techniques to help you in increase sales.

WINNING TACTICS FOR B2B SALES SUCCESS

Sales directors and managers develop sales strategies for the business sales team to implement tactically. Here are some of our best tips for stepping up your B2B sales game this year.

SUBSCRIBE AND ENGAGE WITH YOUR PROSPECTS’ CONTENT

It is not enough to create your own content for social media or your website. Engage with their content to gain traction with other business leaders.

Subscribe to newsletters and blogs written by prospects in your industry or niche, and leave feedback or comments on their posts on a regular basis. The more you do this, the more business buyers will recognise your name.

MODERNIZE YOUR SOCIAL MEDIA GAME

If you only use your one Facebook account to post photos from your summer vacation, you’re clearly not taking advantage of social media to its full potential. Instead, you should be active on multiple platforms, including Twitter and Instagram, to make connections, generate leads, and create long-term brand awareness.

However, when it comes to B2B marketing and sales, one social media platform stands above the rest: LinkedIn. This professional networking tool, acquired by Microsoft in 2016 for more than $26 billion, is the most widely used social platform for those working in the B2B market.

In fact, 94% of B2B marketing survey respondents say they use LinkedIn to distribute professional content.

TAKE A CONSULTATIVE APPROACH

Making a hard sell or pushing for a rushed, borderline deal can backfire by jeopardising your rapport with your prospect or client. Instead, take a consultative approach to B2B sales by becoming more advisory.

Rather than aggressively pushing your product to make a quick sale, consult with your prospect about their specific needs and how different products or services may or may not meet those needs.

A successful sales process is one that is honest. It will build trust and rapport with your prospect if you are open and willing to share relevant information that may not directly benefit you. Over time, this will result in more long-term sales opportunities than a hurried approach.

DON’T BE AFRAID TO ASK DIFFICULT QUESTIONS

When sales representatives sell to business buyers, sensitive issues are bound to arise here and there. However, you don’t have to let competing interests or minor disagreements stand in the way of a long-term fruitful partnership.

It’s best not to let these areas of contention fester in the background. Instead, bring them up early on and start a constructive conversation about it.

Even though these conflict points may derail the relationship, it is preferable for this to occur early in the business to business sales process rather than after weeks or even months of sales experience.

DON’T SELL THE PRICE, SELL THE ROI

Price isn’t everything in business sales. Instead of focusing on the price of your product or service and how you might be able to undercut the prices of your competitors, consider the value you provide for their money.

It is critical, especially for small business B2B sales tactics, to articulate to your prospects how your product will save them time, stress, and other resources.

RESPOND PROMPTLY

Responding to clients and prospects in a timely manner is an important habit for sales reps regardless of the type of sales they do. Although individual business models differ, most business buyers work under time constraints.

Punctuality and prompt responses to phone calls, emails, and direct messages sends a clear message that you value your client’s business and their time.

COLLABORATE WITH MARKETING

Your marketing department is your sidekick, and it is your responsibility to collaborate with them to ensure that your message is clear.

Meet with your marketing team at least once or twice a month to organise your sales funnel, qualify leads, and ensure that the message sent to customers is consistent across both departments.Be sure top notch advertising efforts are being implemented, cohesive across all channels and reaching the right audience.

UTILIZE CUSTOMER RELATIONSHIP MANAGEMENT (CRM) SOFTWARE

With so many user-friendly CRM software applications on the market, there’s no reason not to use CRM to develop prospect and customer relationships.

CRM software should be used as a sales tool by savvy salespeople to track customer objectives, record conversations, identify new sales opportunities, and much more.

According to a recent survey, nearly two-thirds of B2B sales companies that use mobile CRM tools meet their annual sales quotas. In contrast, only 22% of businesses that do not use CRM tools meet their sales targets.

As a result, it’s clear that CRM apps are important pieces of sales technology that can help you sell more effectively.

BRUSH UP ON YOUR WEB PRESENCE

Your social media presence isn’t enough to pique your prospect’s interest. You should take it a step further and create an easy-to-use website to highlight your product or professional sales resume.

Over 70% of B2B business leaders say their website is one of their most valuable selling assets, so having an appealing and easy-to-use website is essential.

LANDING A B2B SALE IN 2020

A B2B company operates differently than a consumer-facing company. When selling to businesses, you must be prepared to nurture each sale in order to build long-term relationships.

Because B2B companies typically have fewer total customers than B2C companies, every customer or prospect interaction is even more critical to your bottom line.

A B2B sale necessitates a higher level of professionalism than a typical consumer sale. Before meeting with a buyer or scheduling a phone call, business buyers are highly trained and conduct extensive research. As a result, it’s critical not to rush a close or complete a deal in a single phone call because your buyer needs time to consider their options.

HOW HAVE B2B SALES CHANGED?

There is no denying that business-to-business sales have evolved over time. Gone are the days when salespeople could control the narrative surrounding their product.

It’s never been easier for your prospects or leads to research your product and identify flaws or vulnerabilities, thanks to social media and unrestricted access to information.

According to recent research, 57% of a client’s purchasing decisions are made before they ever pick up the phone or speak with a supplier. In other words, they’ve done their research and have a strategy in place.

Because your prospects are in charge, you must tailor the sales experience to maximise rapport and trust with them. It’s pointless to withhold information that could help your prospect or to rush to close a deal with a less-than-ideal candidate for your product.

Be honest about your product’s flaws while also explaining why it still provides excellent value for their needs.

THERE’S NO ONE-SIZE-FITS-ALL APPROACH TO B2B SALES

Although the tactics and habits listed above can assist you in making the most of your B2B sales leads, keep in mind that there is no one-size-fits-all approach to success.

To maximise your B2B sales, you must be willing to be creative and experiment with various tactics to see what works in your industry. If a strategy isn’t working for you, don’t stick with it; instead, abandon it and try something new.

B2B sales mastery is more of an art than a science. Experimenting with different sales processes, habits, and tactics will eventually reveal what works best for you.

Although the tactics and habits listed above can assist you in making the most of your B2B sales leads, keep in mind that there is no one-size-fits-all approach to success.

To maximise your B2B sales, you must be willing to be creative and experiment with various tactics to see what works in your industry. If a strategy isn’t working for you, don’t stick with it; instead, abandon it and try something new.

B2B sales mastery is more of an art than a science. Experimenting with different sales processes, habits, and tactics will eventually reveal what works best for you.

The key to success is to stick with a successful B2B sales strategy while also being willing to adapt to new technological and social changes as they emerge.