B2B is an acronym for Business to Business. B2B sales describe a commercial transaction in which a company sells a product or service to other companies rather than to individual customers. When items are sold directly to individuals, we refer to this as B2C or business-to-consumer sales.
B2B sales can take many forms. For example, a factory might sell heavy construction equipments to a real estate development company. An accounting firm can help other businesses collect their taxes and audit their books. Or companies can buy software from another brand.
Regardless of the form, B2B sales share similar characteristics. They typically involve larger and more expensive products, longer sales cycles, multiple stakeholders contributing to the purchase decision, and a smaller potential customer base than B2C.
B2B Sales Strategies To Improve Conversions
Using the right sale strategies is a must when it comes to your B2B business. The best way to attract customers is to give them a reason to buy from you – thereby increasing the value of your products and services.
The key here is figuring out what works best for your business, as each business has their own unique needs for their target audience and customers.
1. Embrace Sales Enablement
One of the crucial steps in a B2B buyer’s journey is research. You want to make sure your business is giving them the information they need to make an intelligent decision.
Build a content database and populate it with in-depth articles, white papers, reports, case studies, e-books, guides, demos, and other resources that can help buyers solve their problems or answer questions they may have at any stage of their Shopping trip could have been.
Research trends in your industry and survey your current customers to learn how your product brings value to them and where they are struggling, then create content around those insights.
2. Empower Your Salespeople
Organizations report that employee representation helps increase the reach of their messages without using social media ads. Also, buyers consider co-workers or peers to be the most trusted source of information when researching purchasing decisions.
This means that your branded content is more likely to be well received, trusted and associated with interest when it comes from members of your team rather than the company itself.
Capitalize on this reality by positioning your sales reps as thought leaders in your niche. Help them set up and optimize their social media accounts and motivate them to post relevant information that your target audience will find helpful.
3. Know your prospect well
The key to getting more customers is generating qualified leads. But how do you qualify those leads?
It starts with research to gather as much information as possible about your prospects so you can craft a sales pitch or marketing message that resonates with them.
What challenges are you currently facing? What does your purchasing process usually look like? Who are the decision makers of the company? Where is the best place to reach them? These insights will help you get to know your prospects better.
4. Align sales and marketing teams to work towards the same goal
By not aligning your marketing and sales teams, your business loses a significant portion of potential revenue. To maximize results, bring both teams together and have them work hand-in-hand to meet your customers’ needs at every stage of the buyer’s journey.
Have your marketers create content assets on a regular basis and share them with the sales team. Let them teach the sales reps how and when to use the assets to nurture leads. Both teams should have regular shutdowns to harmonize their efforts.
5. Create your ideal buyer personas
Who are your products or services for? Which industry do they belong to? How much revenue are they generating? Where are they? What are their interests and pain points? How many people do they employ?
Don’t just rely on your gut feeling to answer these questions. Look at your current customer base and look for similarities.
6. Sell solutions, not products
Think of your company as a solutions expert who happens to be selling products or services that you offer. Remember, your product isn’t as important as what it can do for the buyer.
So instead of praising all of its unique qualities, focus on highlighting the benefits it can offer the customer. Analyze the problems their business is facing and the needs they have, and tell them how your product or service will help solve those problems and meet their needs.
Use email marketing to build meaningful relationships, stay connected with prospects and customers, educate them about the solution you offer and why it’s better than your competitors.
