Selling your product or service to other business is surely tricky, but who says it is difficult? B2B sales require a different take than selling anything to the customer. B2B sales can be extremely rewarding if you go through the right process. One needs to take different approach for B2B selling because selling to individual customers and selling to businesses are two different things. Implement these tips if you want to close more B2B sales tips:
1. Target decision makers:
Usually what majority if businesses do is put their purchasing managers on the front-line when it comes to buying something. But, in reality, they aren’t qualified in finalizing buying decisions. They just report with the details to their superiors. That’s why it is a good idea to skip these kind of professionals and target the actual decision makers in the company itself. Such professionals do not have the budget or authority to finalize such transactions and therefore is usually a bad idea to go down this path.
2. Sell results and outcomes:
In B2B transactions, other businesses aren’t interested in how and why of your product. They usually go ahead with B2B sales process when they know the other company can deliver. So, using a sales pitch to sell your product won’t work anymore. Instead, today you need to deliver results and pitch them the result itself. This is the technique which will help you lead in the B2B sales area and not a generic sales pitch.
3. Being clear about your value proposition:
If you’re going to be selling to a large corporation it is better to be prepared with the value of your proposition. As a business person you need to prepare to quickly get your proposition across to the other business’ person. Convey how you differ in approach regarding your product and results in comparison and how you deliver to the businesses that buy from you. Usually, B2B sales people have their script at their fingertips and can deliver to easily and quickly. The better you prepare the better you can close profitable sales with big businesses.
4. Talk to decision makers in person:
As mentioned above, talking and trying to get your proposition doesn’t necessarily work when talking to a purchase manager and such. But, talking to a decision maker who has the authority to say yes or no will greatly help you. But there are ways to get to talk to a decision maker. As possible, try your best to sell anything to decision makers in person. It speaks volumes about the company’s willingness for such business decisions. Moreover, if you’re selling really high-end and expensive products you definitely should meet the decision maker in person. Whether it takes a flight, bus or train, in such situation, sometimes the difference your company can make is talking to the decision makers in person.
5. Don’t back off from premium pricing:
Businesses don’t care about the prices as long as they’re getting the results. They’re likely to buy from the company giving the results from their products, not a discount on it. Moreover, lowering your premium pricing will attract more low-end prospects who can’t afford to invest in proper solutions. This way you get better sales and of course all at your premium pricing.
6. Discover and dig for challenges and expectations:
Knowing about the issues your businesses you sell to can help in coming up with better solutions. For example: If you know about the kind of problems they face or the cost they have to bear to deal with certain challenges can help in figuring out better strategies. Knowing about such issues can help you in figuring out how your product or service can solve them. And doing so can help in getting an edge over the competition that is trying to sell to such a business also.
7. Keep the sales cycle short:
With the every changing behavior of prospects, your sales cycle can become longer because of old techniques. But, a long sales cycle will result in many wasted opportunities and resources over time. The best way to deal with this problem is to target qualified leads. If your prospects are in an urgent need to buy your product for their solution, you can shorten your sales cycle. Additionally, if your prospects want to keep you waiting for their personal reasons, its better not to invest time in them.
8. Giving Demos:
Using demos to make your sales cycle faster is another great way to close more B2B sales. By doing so, you’re showcasing what your product or service is capable of and keeping the buyer engaged as well.
Research: Key to preparation here would be to know about the buyer first. Use social media to find out as much as possible about your prospects.
Anticipate: Think of all the questions and hesitations your buyer could have regarding the demonstration. Doing this eliminates the sudden unpreparedness on getting a non-anticipated question.
Dialogue: You don’t want to end up giving a monotonous demo or presentation to the buyer. Let the buyers interact or the product. If possible, giving a hands-on session might be the best thing you can do to give them assurance about the results.
Follow-up: Reach out to your prospects after the session via email to give them more insightful information about the product or service.
9. Keep yourself calm and professional:
Yes, selling to businesses can be tough. But showing your panic or anxiousness in any way will alert the buyer of some unpreparedness. If they come to know you’re somehow scared or nervous, they might not want to go through with your sales cycle if the first experience is bad itself. As mentioned earlier, dealing with decision makers for B2B sales is a good idea. But it won’t be a good idea to be anxious in front of them.
10. Give three options to your prospects:
If you give out just one option regarding your product or service, businesses are more likely to treat it as any other option. But, giving them three option for your product shows your interest and preparedness and they won’t be going around looking for other available options.
These B2B sales tips can be really beneficial if followed through properly. Use these tips to professionally handle your B2B sales. Moreover, shortening your sales cycle, knowing about your prospects in advance are tips to help you prepare better. When dealing with another business, the key is preparation and eliminating competition.