If you want to increase your B2B sales and convert more leads into loyal clients, start by taking a look at your approach. B2B sales have changed, and if you haven’t reexamined your strategy in a while – it’s time.
B2B sales success hinges on your approach. As a B2B sales professional, it is important to develop a sales approach that is just as beneficial to your prospects as it is to your own company.
Here are 5 steps to make your B2B sales process more effective:
1. Do your homework
The best way to increase your chance of success is to take the time to understand your prospect. Think about the company and what its needs might be, now and in the future. You should know your prospect’s pain points inside and out.
Develop questions ahead of time by preparing properly and doing your research. Nothing deflates a prospect like asking an obvious question that just a few seconds of independent research could have answered. By being prepared and informed, you can seize every opportunity to demonstrate value to your prospect. The more information you have, the more opportunities you can seize.
2. Have a conversation
When you meet with your prospects, focus on having a genuine conversation about their business. Because you’ve done your research, you’ll be able to ask the right questions to get to the heart of their needs.
Another component of any successful conversation is how well you listen. Most sales reps struggle to listen more than they speak. An analysis by Gong.io revealed that the average B2B sales rep consumes 65–75% of a call’s talk time speaking rather than listening.
According to Gong, the highest converting talk-to-listen ratio on B2B sales calls is approximately 43:57. They found that top closers spend more time listening than they do talking.
3. Don’t just sell; teach
B2B sellers are too often focused only on selling. If you can teach someone how to do business better, without demanding anything in return, you will stand out and stay in the minds of your B2B prospects. During your meeting, you may throw in a few tips or direct them towards an unaffiliated course or book that you know is good. By implementing this tip, you are taking advantage of the power of reciprocity, which can help build up loyalty and a natural preference.
4. Give them time
“Always be closing” is an outdated strategy you need to abandon. No one wants to be pressured into buying something, and making people feel like they have to make a decision immediately can create an uncomfortable situation. If you’ve done your job with figuring out their goals and demonstrating how your products or services provide value, they might just need time to make their decision.
Even if the end result is not a sale, thank the prospect for their time and offer to stay in touch to support any future needs. Oftentimes a “no” is simply a “not right now” and you gained valuable insight that will support future sales.
5. Track results and improve
High-performing sales teams are constantly measuring the results of their processes to improve. When you regularly measure the results of your organization’s B2B sales metrics, you and your team are able to improve productivity and overall performance. Key metrics B2B sales teams should be tracking include:
- Sales Productivity Metrics
- Average Lead Response Time
- Marketing Qualified Leads to Sales Qualified Leads Conversion Rate
- Closed-Won Opportunities
B2B sales have changed. To make your strategy more effective, you must put in the time to research prospects and understand their needs. When it comes to the sales pitch, listen to what the buyer has to say. Do not focus only on selling either. Provide insight and tips as you see fit to build up trust and loyalty with the prospect. Give them time to make a final decision, and understand that a “no” could change into a “yes,” or lead to other clients down the line. Finally, track and measure the results of your sales processes to identify strengths and weaknesses and improve performance. Implement these steps for a stronger B2B sales approach, from finding leads to closing sales.