The Secret of B2B Sales
If you are trying traditional B2B selling approach in a digital world, you may be missing your mark by a wide margin.
Just like yourself, chances are your B2B customers too have moved on to digital business platforms. Not only that, the core management at your customer's business may also have undergone a generation change. You may now find your target's decision makers are now doing more business through cloud app and at coffee shops, than sitting behind computers in corner offices.
“B2B companies may not necessarily create the next iPod or TiVo, but with the right amount of focus and dedication, they can still create word of mouth that gives them an edge over competitors.” - Jackie Huba
There cannot be a unique secret for successful B2B sales. It is more of going about doing certain things right.
Understanding the customer
According to McKinsey & Co, B2B customers want simple, fast, and inexpensive transactions, on the one hand, and highly complex solutions designed by experienced teams, on the other. Companies are needing to develop multichannel sales models. They also want to speak to experts and expect sales reps to have high levels of specialist knowledge on the product. Notwithstanding the COVID pandemic behavioral change, customers are happy to receive information over a call r through webinars. Nobody is much interested in one-on-one meetings. This is bringing a paradigm shift in how businesses are leveraging technology to communicate with market.
Leveraging data science
Companies are increasingly harvesting data generated by their systems through interactions with customers, suppliers, society and even with employes and agents. Be it through POS system or social media platforms or other channels, behavioral data is collected, observed, analyzed and fed to predictive models. The outcomes are usually very insightful and can help you better plan, propose, and present your products and services.
Assessing the market
Beyond a doubt, you know your business well. And there is a good chance you know your customer well too. But how well do you know the business ecosystem in which you and your customers are operating? Thankfully market research as a practice has still not lost its place in a world being fast inherited by millennials. Good market research of an industry or service line is still being valued by corporate executives and decision makers, as a tool to second their thoughts. It is certainly worth investing in market research to understand current and evolving trends and shape your products and service line accordingly for greater acceptance and adoption.
Disseminating information
Your customers are more information hungry than they were in recent past. Before buying from you they will almost certainly research your competence and reputation. They will not only look for alternatives but will also assess the relevance of your product or service to their business. One of the ways large corporations are dealing with this info hunger is by disseminating copious information through research publications, case studies, whitepapers, webinars, tutorials, and more. As you feed your customers' info quest, you keep collecting credibility brownie points. Proverbially speaking, you end up winning a customer, rather than just making another sale.
Getting B2B sales evaluated
Allow your customers to evaluate you, and even criticize you. You would get more insights, no matter how harsh they are, than those presented by your PR agents through sugar coated interpretations. Post sales feedback and social media surveys help you stay connected with customers and let them know that you are sincere.
Comments