In most industries, the B2B sales procedure is used. Even transitions that you might ordinarily think of as B2C, or business-to-consumer, may have involved a B2B transaction in the past.
For instance, Barnes & Noble may have negotiated to buy books from publishers before they are placed on the shelves to be sold to customers. The majority of firms, from landscaping companies to software as a service (SaaS) providers, should put time and effort into perfecting their own B2B sales process.
Given that corporations typically have more negotiating power than the average consumer, you might be curious as to how the B2B sales process differs from the B2C sales process. We’re here to explain the key phases in streamlining your B2B sales process.
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What makes a B2B sales process crucial?
More sales and revenue result immediately from optimizing your B2B sales process. Consider this: the more deals you close, boosting your sales and bottom line, the better you become at pitching your product and enticing potential customers.
Successful B2B platforms like Tradekey.com keep their sales process organized in a way to reach maximum performance. However, they are aware that no two clients or sales processes will be the same.
Streamlining your B2B sales process in 5 easy stages
As previously said, the efficiency of your B2B sales process can directly influence the success of your company. Spend some time honing these five phases to improve your business-to-business sales process:
Investigate and contact potential customers
The availability of business information online has made this step simpler than ever. You are the expert on your product, thus you are also aware of the industries that require it.
Do your research and familiarize yourself with the markets and companies of your potential customers. You can contact them and try to set up a meeting after you know who you are trying to sell to.
Remember that prospective customers have constant access to information, so by the time you get in touch with them, they can already be in the sales funnel. Then, it’s your responsibility to ascertain whether the prospect has already started the sales process.
And, if so, how far along they are. Some B2B purchasers have been seen to be between 60% and 90% of the way through their transaction before they ever get in touch with the vendor.
Pose open-ended inquiries
Never assume you already know something about a potential client; always inquire. The more details you can learn about your customer’s requirements, preferences, and challenges, the better prepared you’ll be to close a deal.
Avoid yes/no queries that can end a conversation by sticking to inquiries that encourage a thorough response. But keep in mind that no matter how many questions you ask, you won’t get anywhere until you pay attention to the responses.
Let people talk about themselves and their businesses as they like doing so! Aim for an 80/20 split between talking and listening.
Teach your potential customer something useful
Seek out ways to teach the prospect something useful using the data you’ve obtained from your thoughtfully phrased questions. The key is to impart knowledge while avoiding promoting your own business. Giving information away without expecting anything in return may seem paradoxical, but keep in mind that your goal is to build rapport.
Giving a gratuity with no conditions attached demonstrates your sincere want to assist and your concern for things other than just making a transaction.
Using the GPCT methodology, qualify the consumer
The era of ABC (Always Be Closing) is over. Instead, qualify the customer using the data you’ve obtained during the sales process, in line with step number two. Utilize the GPCT technique to assist in the customer qualification process:
Determine the prospect’s goals, their strategies to attain them, any obstacles that might stand in the way of their success, as well as when they want to achieve these objectives.
Finish the sale
Although it could appear like the most difficult phase in the B2B sales process, if you’ve followed the previous steps exactly, your close should be rather straightforward and most likely result in a sale.
But even the best-laid intentions occasionally fall short. If you and the prospect are not in agreement about the following steps after you have reached this stage, don’t be afraid to go through the first four phases again.
Reviewing the procedure in the earlier steps can reveal any areas where the prospect may be hesitant, giving you the time to overcome any resistance.
Just like anything else in life, mastering the B2B sales process requires practice. Remember that every meeting and interaction is an opportunity to improve the efficiency of your sales process.