Strategies for Increasing B2B Sales

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If your business engages in selling products and services to other businesses, you are probably all too familiar with the various challenges you face in getting your prospects to place that order. This arena typically involves long sales cycles, complex offerings and numerous decision makers. The road to closing a deal can be bumpy for sure. Here are some helpful strategies for increasing your B2B sales.

Focusing on Benefits May Not Be the Best Strategy

Outlining benefits is of course a key component of pitching a product or service. You want to make it crystal clear what the customer will gain by choosing you and your company’s products and services. Conventional wisdom tells us to center our pitches around these unique features. But, a survey of 9000 companies produced some interesting findings. Only 14 percent of these ‘’benefits’’ were compelling enough to initiate a purchasing decision, meaning that 86 percent did not produce any compelling urge to do things differently.

Transform Pitches to Conversations

Instead of creating a sales pitch aimed at trying to sell a company on all the unique benefits you can offer them, work on creating a conversation between you, and current or prospective clients. This approach will help them more clearly see the value in working with you rather than a competitor. Remember that people primarily make purchasing decisions based on emotion, and then work on justifying the choice with facts. There is a strong human to human element at play, and you should capitalized on this. Work on presentations that engage the client, do not just present at them.

Understanding the Consumer Decision Journey

Without a better understanding of the customer decision journey (CDJ), your business will continue to squander marketing dollars and sales opportunities. We tend to look at the sales process as a linear journey where the customer gets information,  chooses among their options and finally submits an order. But, it is a bit more complex than that.

First off, it is not only about finding out who the decision makers are, but what matters to them the most. This will guide your business in knowing what points in the CDJ your presence and efforts will make the most impact. Do some research to determine where your resources will best be allocated and where you will get the most for your marketing dollars. You might find that you will be most influential during the stage where businesses are researching their options, rather than at trade shows, where many businesses are more ready to make purchases.

Many businesses experience problems due a lack of communication and collaboration between the sales and marketing departments. For optimal results, these departments should be successfully coordinating and collaborating. If your business is currently lacking in this department, it is one of the most important tasks to tend to.

Kelli Cooper is a freelance writer who blogs about all things business; if you are interesting in learning more about factoring and PO funding, she recommends visiting this financing glossary for more information.

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