So you have outstanding services and a stunning marketing strategy. Good for you! But is it enough for the success of your business? Obviously No!
The success of your B2B business depends on how well you have crafted your sales strategy.
What's the first thought that falls to your mind while brainstorming for your B2B sales strategy?
ROI? Target audience? Investment? Resources? -What's your pick?
There are so many elements that constitute a B2B sales strategy. Want to stay ahead of the game? Learn sales hacks and combine them to construct the best-ever sales strategy to climb the ladder of success! That's how you will be paving the path for conversion.
What is a B2B Sales Strategy?
First, let's talk about what a sales strategy is.
If you surf the internet, you will see there are thousands of definitions for a sales strategy. However, Darwinian Ventures believes the definition by Michael D. Watkins provides the best insight! He defines sales strategy as " A set of guiding principles that, when communicated and adopted in the organization, generates a desired pattern of decision-making."
We can conclude, a sales strategy is all about how people within the organization should make decisions and allocate resources to attain goals and objectives. Simply, it's the process of defining how your services will make customers work better.
A good B2B sales strategy outlines the steps that businesses should consider to provide the utmost value while selling their services. In other words, the B2B sales strategy is the reflection of your value proposition- the reason why prospects will choose your services over your competitors.
Before moving on to the hacks of sales strategies for accelerating your sales, let's explore the different kinds of B2B sales strategies ruling the B2B jungle. But let us tell you something! All the B2B sales strategies were constructed based on the goals of a B2B company.
Sales Strategies for Lead Generation:
If you are connected to the B2B industry, you cannot deny the importance of lead generation. The best way to ensure consistency of revenue collection and growing client diaries is to reach the vast untapped audience.
Usually, the sales tactics for lead generation degrades by 22.5% every year. So we can say, sales strategy or sales tactics in the B2B realm is very critical.
The data shows salespeople have to be continuously under the hunt for new strategies. Otherwise, they fail to bring new prospects into the sales funnel. It takes time and dedication to identify new leads for your pipeline. It is why SalesIntel was invented to serve you with accurate data about your lovely prospects.
Sales Strategies for Repeat Business:
The whole world craves repeat business from existing customers. We understand most B2B marketers think repeat businesses are easy, as they dealt with these customers before. But is it really?
Existing customers are often seen to formulate a fresh set of terms and conditions during repeat businesses. You cannot satisfy them with the same old tactics again. This time they urge for something more.
Cross sales and upsells are a part of repeat business. Since customers here have confidence in you, they are more likely to make the purchase. On the flip side, one wrong step can remove them entirely from your pipeline. That's the paradox of repeat business.
Sales Strategies for Lead Conversion:
The lead-to-customer conversion rate is a prominent focus for any sales strategy. This kind of strategy yells teamwork between the marketing and sales team. While the marketing team generates leads, the sales team capitalizes on the opportunities laid by the marketing team.
The goal is to get better with everything you do. Presentations, nurturing leads, handling objections- everything should be optimized for the best sales strategy!
The Five Ways to Develop My Sales Strategy:
So, did you guys get a goal yet to start with? It's time to look at some of the B2B sales strategies to escalate your sales! We believe this five-step approach will yield great results for your sales funnel.
- Choose Your Go-to Customer:
By now, you have probably identified and segmented your targets.
In our experience, we've seen that marketers often target too many clients at once. We don't know why people believe it's a wise thing to do. When you target loads of clients at once, you simply lose your focus. It means you cannot serve them well or successfully handle their solutions. It hinders your dream of becoming a B2B expert.
Now let's see what happens when you narrow down your target list!
● You understand clients better.
● You understand their pain points.
● You understand their buying pattern.
● You can deliver your pitch in a better way.
● You can anticipate their queries.
● You can establish rapport via communication.
The hunt for searching for the perfect customers may take time and need experimentation. But that's perfectly alright. It's a slow process but essential for your sales strategy.
Now that you've found your "Go-To Customer," take steps for describing the client. What is better than research for this purpose? Make sure the document contains:
● What does the customer's world look like?
● What are his pain points?
● What are they looking for?
● How can your services help them?
● What are their budgetary constraints?
Any information about your 'Go to Customer' is valuable for the sales team, as they will design the pitch based on these facts.
However, remember two vital contexts:
● Just because you've identified your "Go-To Customers" doesn't mean you will be giving up on 'Non-Go-to Customers.' It merely means you will be focusing on specific customers for the time being.
● 'Go to Customers' are your current customers. You really need to come up with a plan to make them your existing customers for repeat business.
- Analyze your Niche Market:
So you are done picking up your clients from the crowd, it's time to analyze your market. Start with identifying some questions:
● How many target buyers do you have in each zone or each country?
● What works the best for those locations?
● Which areas are more developed for your target customers?
Analyze the data thoroughly, and decide on what your target markets should be like!
- Construct the Lead-Nurturing Plan:
If your prospect says no today, it doesn't mean they aren't willing for your services. Instead, if you approach them today, there's a possibility they will start thinking of your services. And when the time attains, they will turn up at your door. Giving up on prospects will only risk your future business.
It is why you need a lead-nurturing plan. These plans warm up the clients and prepare them for further action. So how do you develop a lead-nurturing program? Design a steady stream of valuable content to keep your prospects engaged and interested.
- Jump to Customer Relationship:
The best sales strategy you can adopt for your B2B business is developing and maintaining customer relationships.
For this, you need to answer some questions:
● What type of relationship does your 'Go to Customer' expect?
● Which ones have you established till now?
● How are they related to the rest of your business?
● Are they cutting your pockets?
For example, you can choose to have a very intimate relationship with your customers. So you decided to set up a support site and assigned reps to check on the clients every now and then. In this way, you can really influence the decisions of your customers.
On the other hand, you can choose to have a professional relationship with your clients. Here clients will implement their solutions, and you will only support them via chatbots.
No matter what type of relationship you choose, make sure they integrate with your company policy.
- Go Social:
Here are some fun social media statistics for your sales strategy:
● 82% of prospects prefer outreach by social media.
● 73% of prospects engage with vendors via social media.
Believe it or not, salespeople who use social media outperform those who don't rely on social networks. When it comes to social selling, you need to be truthful and personalized. Otherwise, you may end up looking creepy or spammy.
Honestly, if you are not using social media for marketing, you are basically handing over your clients to your competitors. Social media is the place where connections are made!
As for B2B buyers, you know how serious they are about their research. They actively state their issues, complaints, demands, or unpleasant experiences on social media. Where do you fall then? Your job as a B2B marketer is to enter these conversations and offer them solutions. Who knows? You might end up influencing their decision-making process!
You can blend in on social media in several ways!
● Track down your brand's social mention on Facebook, Twitter, Linkedin, Instagram, etc. Then get in the process of answering, tackling, and resolving customer concerns. This is how you will be reclaiming particular relationships! And the best part? You get to showcase your brand to prospects.
● Track the mentions of your competitors. If someone is unhappy with your competitor's services, convey how your products are a better fit for them. We know it sounds crazy, but it's an essential sales hack.
● By using social media, you can warm up some of your prospects for a better future.
● When you are active on social media, you can identify potential clients, discover the best tools, and get in touch with the best influencers of the B2B industry. You will be savoring new experiences to jot down in your diary.
Of course, there will be times when clients won't purchase your solutions. Perhaps, the situation is not friendly for them now! That doesn't mean they are exiting from your pipeline!
When this happens, follow up with a survey. Keep tabs on their pain points, budgets, and insights. Use the obtained information for developing your sales strategy.
Ready to experience victory with the new sales strategies?