When you’re first developing your sales process and learning how to manage your sales pipeline, B2B sales can be a little challenging. Even when they think they are doing everything correctly, B2B salespeople in your position nevertheless confront several difficulties.
In this article, we’ll list the top 5 sales obstacles that B2B companies must overcome. We will pair each difficulty with practical ways to get around it. We will briefly examine how to tackle these problems in traditional B2B sales hurdles.
Table of Contents
- Problem #1: Having A Hard Time Finding Quality Leads
- Problem #2: Leaky Sales Pipeline
- Problem #3: Connecting With Decision-makers Is Difficult
- Problem #4: Protracted Sales Cycles
- Problem #5: The Customer Retention
Problem #1: Having A Hard Time Finding Quality Leads
Many B2B companies struggle to discover suitable leads when it comes to sales since they are unsure of where to begin. Although salespeople like you may have a large network of contacts, are any of these individuals the ones you should be trying to sell to? Do they require your goods?
Being unable to find leads is frustrating because it is the initial stage of the sales process. You won’t have any clients if you don’t have any leads.
Solution: Get Crystal Clear On Your Ideal Client As A Solution
Finding leads will be much simpler once you have a clear grasp of who you target and how you can best assist them.
Here, two separate things may be helpful. The first is to produce a thorough description of your customer group, and the second is to come up with a marketing plan that specifically targets this ideal customer.
By doing this, you’ll be able to attract the correct kind of leads and target the right audience.
Problem #2: Leaky Sales Pipeline
You typically end up with a lot fewer clients than leads because the sales channel is naturally funnel-shaped.
However, if your processes are not streamlined and your sales pipeline is not properly controlled, it will leak. This means that, due to your fault, qualified prospects who might otherwise become customers slip through the gaps.
Over the years, even a small “leak” might cost you hundreds or even millions.
Solution: Improve Your Procedures
You’ll need to streamline your sales processes if you want to stem the leak in your sales pipeline. Create a map of the customer journey from the point at which they become leads and express interest in your product to the point at which you close the purchase and beyond.
This procedure should be documented so that everyone on your team who interacts with leads, prospects, and customers is aware of it. This will enable you to deliver a consistent experience to each firm that expresses interest in doing business with you as well as to an individual consumer throughout their journey.
Make a relatively uniform timeline for the procedure and specify the precise steps you perform at each one.
Problem #3: Connecting With Decision-makers Is Difficult
Salespeople and decision-makers are frequently separated by gatekeepers in many firms. Although the main goal of this is to prevent wasting executives’ time, having access to these people will be helpful if you are trying to clinch a transaction.
You may lose sales and have a lower closing rate if you are unable to establish a connection with decision-makers.
Solution: Use Your Network As A Remedy
You can approach the decision-makers in a few different ways. The first is by cultivating connections with the gatekeepers so that they will trust you enough to introduce you to their superiors directly.
The alternative is to establish personal connections. B2B platforms, such as Tradekey.com, offer direct access to virtually everyone in the business. Find the people you need to connect with after doing your study to determine who you should contact.
Problem #4: Protracted Sales Cycles
Because time is money, if your sales cycles are taking longer than they should, money will be lost. Spending excessive amounts of time and money on a single lead is not what you want to do.
Because of the salesperson’s turnaround time at each stage of the process, sales cycles are frequently prolonged.
Solution: Process Streamlining
If you wish to shorten the sales cycle, optimizing your processes will be helpful. The same arguments we stated about repairing a broken sales funnel hold here.
Work on your processes and ensure that everything is ready on your end to convert the lead into a customer. Rushing your prospect is not a smart idea, even while streamlining your sales processes is a good idea to make your sales cycle shorter.
Problem #5: The Customer Retention
Naturally, B2B vendors will experience periodic customer churn. Numerous factors, such as a product’s transient demand or the closure of the clients’ company, could be to blame for this. These situations are all the seller’s fault and barely involve the customer at all.
Solution: Give Customer Service Priority
You must give customer service top priority if you want to increase customer retention rates. Customers who receive excellent service from you won’t look elsewhere for a supplier.
This necessitates being truthful with your rates in addition to showing them respect and constantly delivering on your promises.