B2B sales involve selling services or products to other businesses. In any B2B sales, the process of selling is complex. The buyer is well aware of the market and its decision-making to buy the product is rational. In B2B sales, a buyer buys in a huge order of a higher cost.
Since the purchase is higher and is a long-term agreement, the process to convert the potential lead to a client is also long. According to research, it takes more than 7 months for a B2B business sale to close.
The payment process is very lengthy and difficult. In a B2C process, the buyer buys the goods and pays instantly. Whereas in a B2B, the payment term is negotiated and paid only after an invoice is issued. Since the whole process of dealing in a B2B business is complex and time-consuming, approaching your potential lead with a proper sales strategy will help close the deal satisfactorily.
Today most B2B businesses research about the potential company online. They check their websites, read their testimonials available on the website. Few even ask for suggestions from acquaintances. Your website and how it speaks to a potential lead make a lot of difference.
Here are a few pointers to guide you through to close a B2B sales deal as per todays’ requirement;
- Research:
This is your key mantra, to begin with; for any sales meeting. You should be well prepared and know all the best-selling points about your product. A salesperson should know the market, competitors, and its ideal target market well.
- Requirements:
Make sure you know what the requirement of your customer is. It is important to ask the questions with the prefix like what, why, when, who, and how. This will help you prepare a brief on all that the customers expect from your company. Never assume you know what the customer needs, ask questions, and personalize services as per his needs.
- Pay Attention:
Make your client feel valued, and appreciated. Listen to your client and make a brief of all that he needs from your company. There is a thin line between; hearing and listening, make sure you follow the latter.
- Educate:
Educate is the new pitching. Your client is well versed with the market, he knows your competitor well too. The main factor you can work on is to educate and sell him your plus points in your pitch meet. Educate him about the advantages of getting in a tie-up with your company. Tell him about factors that your company prides itself in. But only make sure to promise him what you can offer. This is a long-term business collaboration and being honest in the long run will be beneficial for both.
- Follow Up:
Since the nature of the B2B platform is complex. It involves more heads in decision making, give them time to think over your proposal. Pitch them the best you can offer and put all that on paper that you have promised them. A tailored proposal suits best for them. Give them the solution they are looking for and help them achieve their goal.
Always remember that any sales in a B2B platform are long-term contract. Hence you need to pay more attention to good customer relations. Solutions you provide to one may not work for another company. Make sure you give them solutions best suitable to the client’s requirements. Be a trustworthy advisor to your client in the business journey and see yourself sail through the toughest waves.
