Selling to other businesses can be harder than selling to consumers for a number of reasons. Rather than emotional motivations, business buyers tend to be drawn to products through intelligent campaigns and referrals which focus on strategy and measurable facts. Business to business sales can be highly profitable and rewarding for those who are successful in their pursuit.
Here are eight tips to help you coordinate a successful B2B sales strategy.
Identify what your buyers want
A product-focused sales strategy is good, but the best strategies will focus on the buyer’s needs. How can your sales team come together to show potential customers the benefits of your product, for their unique problem(s)? Organise your strategy to draw attention to the details of your product and how they benefit the user.
Support your sales with hard facts
Can your product offer savings against current operational costs? Will the equipment you're selling last five years longer than that sold by a competitor? When building your sales strategy, identify the evidence for your claims and present people with this evidence during your campaign and sales process.
Present tailored solutions
Personalising your approach to each client demonstrates that you are invested in the success of their business. Always ask what their challenges are? What's the financial impact of the problems they face? How can you help? Monitor the news, their website and press releases to learn what you can.
Target the right people
Developing relationships with staff or with buyers or purchasing managers with little autonomy can be good practice, but it is not always helpful in leading to meaningful sales. Include identifying who to target in the buying process as part of your coordinated strategy; reviewing your current client list, analysing product features and functions, research your competition and demographics can all be factors to consider in deciding your ideal target audience. Having a CRM system is a sensible way to take such a targeted approach.
Explain clearly how you are different
Many almost-successful sales strategies falter because they fail to show potential buyers how they differentiate from their competitors. These are the facts, benefits and arguments to memorise and present as part of the sales process when there is an opportunity. Equip your sales personnel with the knowledge of what sets you apart to increase the rate of success.
Meet in person
Part of the B2B sales process involves indirect communication such as emails and telephone but in B2B people buy from people. Meeting someone in person creates a more human connection. Travelling to meet potential customers can make a difference, as your competitors are likely to be doing the same. Being present and building a positive relationship will help you stand out.
Believe in your value
Repeatedly introducing prices cuts can devalue the brand and product. Work with your team to create appropriate and effective pricing strategies which truly reflect the value of your products, and stand behind them when presenting to your buyers. Sometimes rather than just discounting a deal, try to find other ways to add value to the deal such as extended warranties for machinery or additional support.
Keep emotions out of it
Taking a balanced, rational and strategic approach is important in a B2B context. Keeping your emotions at bay demonstrates confidence in your value proposition and avoids unsettling your customers. If they feel you are apprehensive or uneasy about the sale, it will put them off.
For more information on how you can use an ERP system with built-in CRM to streamline your existing processes and maximise ROI, contact us at WinMan today.