There are occasions in life where it pays to get up, toss out your plans, and just go with the moment. Making B2B sales is not one of them. B2B selling is challenging. The stakes are higher, sales cycles are long, leads can be hard to come by – and when you do get a lead, you’re dealing with multiple decision-makers when you try to close it. To succeed in B2B sales, you need a good strategy, and you need to execute it well.
B2B buyers are demanding customers because they know what they want and place high expectations on the vendors vying to provide it to them. Over 70% of B2B buyers have a complete picture of what they’re looking for before they start talking to salespeople. So save the spontaneity for date night – when it’s time to engage with your leads, you want to be working from a detailed, dependable strategy.
1. Choose What Kind of Strategy You Need
A generic strategy is never going to outperform one built around your specific situation and business needs. The basic structure of your sales strategy can be determined by the goals you’re trying to achieve:
- Generating new leads
- Converting leads into customers
- Generating repeat sales from existing customers
Once you understand what your goals are, you can start building the right strategies around them.
2. Determine If Your Strategy is Inbound or Outbound
Picture an exclusive nightclub and a door-to-door salesperson. They’re both executing sales strategies, but they couldn’t be more different.
The nightclub is doing an inbound sales strategy. They’re marketing themselves in a way that generates interest in their target audience and draws them in. By seeking out their potential customers and approaching them directly, the salesperson has opted for an outbound sales strategy.
Deciding whether to go inbound or outbound depends on your position in the market and your specific business challenges. Inbound strategies work well when your target audience is actively looking for the solutions you’re providing. When you’re selling something innovative or disruptive, an outbound approach can help you make the case that you’ve got the solution to a problem your leads didn’t even know they had. Some businesses will choose a hybrid strategy, but the optimal implementations of the steps that follow will vary greatly depending on which approach you’ve prioritized.
3. Get Sales and Marketing Working Together
Just say no to friendly rivalries between sales and marketing — these teams should be all up in each other’s business. Sales talks to leads all day about the issues they’re struggling with and the product features they’d love to see. They can share those insights with marketing. Marketing can qualify high-potential leads for sales to connect with and provide relevant content for them to use.
When your company’s sales and marketing teams are closely aligned, you are primed to engage in account-based marketing (ABM). This approach treats every customer account as a market unto itself. A sales strategy based on ABM demands personalized messaging and content for each potential customer. It’s a resource-intensive approach, but more than 80% of marketers believe it delivers a higher ROI than any other method.
4. Research Your Target Customers
In B2B sales, it’s vital to learn everything you can about the companies you’re hoping to sell to: their business objectives, pain points, competition, day-to-day activities, and who their decision-makers are.
Create a buyer persona out of information that your salespeople can use. Interviewing existing customers and hearing their stories can help your sales team put buyer personas in context and develop more effective sales pitches.
Researching your market and customers can also help you profile the customers you shouldn’t target. It can save you from wasting resources and salespeople on leads that are unlikely to ever turn into buyers.
5. Identify Your Leads, Qualify, and Nurture Them
Researching customers will help you identify the leads worth pursuing, whether that involves utilizing brilliant marketing campaigns or having your sales team cold-call them. But before you commit those resources, it’s essential to take the additional step of qualifying your leads. You can score them according to various factors. These factors might include the company’s size, how closely they fit your ideal buyer persona, the length of their purchasing timeline. Once you know how your leads stack up, it’s simple to prioritize them accordingly.
B2B sales cycles run long, and some leads will have high potential even though they aren’t ready to move on a purchase anytime soon. By determining what stage your leads are at in your sales funnel, you can nurture them with appropriate content to sustain their interest.
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