B2B sales is all about attracting the correct prospects and turning them into loyal customers. But what requires extra efforts and time is winning a customer’s loyalty which is difficult for many reasons. No training or coaching offers the natural expertise on winning customer loyalty. And with the way people buy changing so dramatically, B2B businesses need special and well organized tips to develop their sales strategy.
With buyers spending hours on research before making a purchase decision, paying special attention to reviews, comments and pricing comparisons, there is a substantial demand of development in their sales strategies in order to be more effective in sales process and grow.
Here are 6 valuable tips which can often go disregarded, in order to develop your sales strategy and stay effective and enjoy an exponential growth in 2018.
1. Understand and know your competition – If you are a B2B firm then you simply can’t ignore your competitors and their activities. It is a necessity that B2B businesses keep track of their competitors in order to stay ahead of them and influence more potential customers.
Social media can act as a helping hand in this process. Most of the companies are present on LinkedIn where they post about their latest news, activities, campaigns and products.
Thus, companies can easily track their competitors through social media and stay ahead of them by understanding their way of working, getting an insight of their future strategies and plans, launchings etc.
2. Research – The best way to nurture a lead and to make sure that it turns into a customer is by doing meticulous research. It allows you to be most confident and effective when dealing with an opportunity because you know a lot about their industry and thought process already.
To know about the company size, website visits, challenges, desired outcomes etc provides you a better understanding and time to plan a best suitable solution to offer to the lead. This helps you to remain one step ahead at all times and enables you to build trust and win at converting a lead into a customer.
3. Differentiate yourself – The very basic requirement of long term success of sales depends on how you present yourself amongst the competition. Brands which copy or plagiarize often end up with limited traffic and customers.
Another important thing in the B2B world is to secure and timely use your original idea or innovation before someone else steals and launches it before yourself.
Differentiation is important when you want to stay one step ahead of your competitors. So take your time and incorporate all departments in coming up with ways to achieve this unique selling point.
4. Improvise long-term ideas – A short term ideology is something injurious to sales. Various B2B companies will come and leave on the basis of the amount of customers which stay with them through thick and thin situations.
Most companies focus on closing the sale, then fail to follow up or ensure that their service was appropriate, which ultimately bring failure down the line.
Companies should understand that it is more important to build their sustainable reputation rather than simply closing sale as quickly as possible. Because reputation is going to stay and help you grow in long term and induce more sales on top.
5. Relationship management – The most precious thing a salesperson can earn is the relationship built with a prospect or contact. Maintaining that relationship helps a company to succeed in long run and it is company’s duty to maintain it by keeping the client or prospect informed about your company’s new products, content, new ideas etc.
Maintaining relationship with your clients also helps your company to obtain new clients as a loyal client will always speak excellently about the experience and services rendered by you.
6. Sales and marketing alignment – Success of your sales output depend on how well you align it with the marketing team. The alignment is truly important for both departments as the marketing department has the ability to run campaigns which provide company with leads.
Ultimately the success of that campaign depends on the sales team in converting prospects to generate revenue. And if they are well aligned, they will have the understanding of challenges and demands of each other and together they can work on how to overcome those challenges and meet the demands.
Further to this, the marketing team will have a clearer idea of what kind of data is required by sales team in order to close sales more frequently due to quality communication and feedback.
Guest article written by: Ant Musker. I am a content writer at Whoisvisiting.com, whilst also involved in marketing activities including email, social and SEO – I have various experience in sales and marketing environments, working for start-up companies and in the PR industry.