The most popular B2B sales tactics
Effective tools to boost your B2B sales
How these elements work together to produce a winning sales strategy
B2B sales is of vital importance to any organization looking to expand their client base and grow their business; it’s success effects your marketing and retention, meaning it’s a vital process to master. However, the world of B2B sales is shifting, with old techniques becoming unpopular; the way must be paved for new tactics and tools.
“Sales is not about selling anymore but building trust and educating.“– Siva Devaki, CEO & Founder of Mansa Systems
Asking the right questions…
– What defines B2B sales?
– What are the best B2B sales tactics?
– What’s the difference between social selling and SPIN selling?
– What tools and sales software can improve my results?
– How can I recruit and train a powerful sales team?
– How can I ensure a healthy sales pipeline?
This guide answers all these questions and more, helping you discover the ultimate formula for sales success. Learn about the most effective sales tactics, the most impactful tools and how to construct an unstoppable team. This guide has everything you need to manage a world class sales team who achieve the most outstanding results.
What defines B2B sales?
The sphere of business to business sales differs vastly from that of business to consumer. We all know the B2C world – we are part of it every day! Sales occur very quickly, without much external input- we either want to buy something, or we don’t. B2B sales however work in a completely different way.
Here are some of the key differences:
They take longer – When you create a personal purchase, the decision is quick- you might take time to browse a little, but you’ll carry the purchase through with relative speed. For B2B sales, this is simply not the case. The average sales cycle is now 5 time longer than it was a few years ago, meaning sales teams need to work harder. They need to continually engage leads over a long period of time and streamline their processes to ensure leads do not get distracted or lost during their buyer journey.
There are more people involved – These sales cycles don’t just take longer because of the additional time the buyer puts into research and comparison; it is also down to the amount of people involved in the purchase decision. An average of 7 decision makers need to be persuaded to sign off a business purchase, so sales teams need to do more than convince an individual (like with B2C sales). B2B sales teams need to understand how business sales processes work, who decision makers are and ensure they bring these DMs together with their product, enabling a sale to be completed.
It’s not their money – They key difference between B2B and B2C sales is – the money. When you purchase an item for yourself, the money used if your own, and you treat it in a certain way. If you were to use someone else’s money, and have your employment based on how that money is utilized, you’d be much more careful about the items you purchase. B2B purchases also involve much larger figures than those of B2C, meaning decision makers are even more measured in their approach to business transactions. With B2B purchases, few risks are taken – buyers must be 110% sure in their investment, and how they will gain a return.
Tactics for B2B sales teams
Whilst there are a myriad of different B2B sales tactics your team can maximize, these three stood out far above the crowd…
Social selling – As 90% of C-level executives dislike traditional sales communications, the theory of using social media platforms such as LinkedIn to make connections and nurture business opportunities came into play. Social selling allows your sales team to connect with every sales lead on a personal level, convenient to their busy timetables; as 57% of decision makers use social media to conduct buyer research, this tactic has proven highly effective.
The Challenger sale – A more recent development, taking on the sales persona of a “Challenger” means your team don’t encourage businesses to include your product as an addition to their processes; instead they aim to persuade businesses to change their processes to be dependent upon your product. These salespeople push conversational boundaries, not following a script to keep the lead always on their toes. Though this sounds drastically different to the relationship building techniques many of us use, over 50% of the highest performing salespeople across 90 different organizations were Challengers.
SPIN selling – This sales tactic focuses on the qualifying questions your team use to understand sales leads. Working though Situational, Problem, Implication and Need/payoff questions (SPIN), your team can gain incredible knowledge. Not only can they better understand the business lead’s motives and needs, they also encourage the lead to think about their problems and what will happen if they go unsolved, making your product/solution far more valuable. This tactic is taught on a global scale, as it continues to deliver results.