Why modern B2B selling requires more than offers to succeed
Company executives are confident in their ability to produce breakthroughs but not in their ability to market them. According to research, this divide is caused by a lack of existing B2B sales techniques and efficient talent management. It’s a significant issue that restricts the number of profits companies can make from their R&D investments.
Businesses that have spent millions developing new-to-the-world products must improve their ability to market them to prospective clients.
3 Challenges Your Sellers Will Likely Face in the Modern B2B Sales Process
Business-to-business (B2B) sales have evolved. Because the B2B buyer has absolute power, what used to work in the past, doesn’t anymore. Here’s all you need to know about the challenges and hurdles faced today by modern sellers.
Modern selling is time-intensive.
Unlike in the past, when marketing alone generated leads and sales contacted them to finalize agreements, the current B2B sales process is more complex than ever.
The actual buying process is time-consuming. Buyers today research all possible solutions after identifying a problem before reaching a provider.
They then look for reviews from other consumers who are already using the product or service and only then, based on all information, make a buying decision. Now imagine that you are the person who’s trying to sell this product or service.
This is a significant shift that presents a number of problems for current B2B sales teams.
There is tougher competition.
Sales has evolved significantly in recent years. Clients are no longer as reliant on revenue teams’ suggestions as they once were. They gather as much information as they can on their own. They generally reach out to sellers while they are in the process of evaluating numerous options.
As a result of these developments, you must fully grasp your target market’s journey map and deliver the best quality content to solve clients’ concerns and answer any questions and hesitations they might have before they even ask you.
It’s also tough for potential buyers to figure out what a product is worth and why they should buy it from you. As a consequence, prospective accounts may be unsatisfied with the price, terms, and other aspects of your products and services, and refuse to buy them.
Chasing and following up on B2B leads is challenging.
B2B leads generation is still the most difficult task. It’s no longer enough to get visitors to visit your website. To establish a demand generation plan, today’s sales and marketing teams must work together.
In trying to entice and maintain the target audience, they should focus on producing the most compelling content marketing plan feasible. They must also inspire B2B customers to take productive activities that will assist the company to achieve its objectives, such as remarketing and advertising. B2B sales reps are now focused on building sales pipeline and discovering the best strategies for generating high-quality leads.
This is where you should make the most of trigger signals, which may help you attract the right prospects. Because time is crucial in sales, you should get into the habit of looking for Compelling Events Signals, which can suggest when a prospect is more likely to be in the market to buy.
7 Characteristics of Future-Ready Sellers
Here are some behaviors of future-proof sellers that can proactively face the challenges we’ve identified above.
They look at the long-term.
The most effective sellers are more intentional with their time than others. Rather than dividing their focus over numerous accounts, they spend more time identifying strong prospects and aggressively targeting a few clients who are likely to adopt.
This implies you’ll want your employees to concentrate on selling rather than the time-consuming and tiresome task of researching and endless prospecting.
They know how to prioritize.
Successful sales teams always think about possible difficulties with people and processes at the buying company and whether the transaction may stall if the buyer lacks the necessary assessment criteria. In many cases, there is more than one person involved in making buying decisions.
They are very decisive and firm in their course of action.
Although grit is necessary for all sales, it is especially so when selling new items. Late in the process, setbacks are common, making sellers feel as if the rug has been ripped out from beneath them. You must become aware and prepare for this. Remember that while your revenue team will never refuse the chance to market products and services, the continuous attempt to sell them is another story.
Long-term thinkers concentrate on the long-term benefits and create coping mechanisms to deal with the challenges they face along the road.
They are persistent.
Rejection is difficult to deal with, and it may be devastating for the wrong person. Your sellers will require thick skin to deal with the hundreds of rejections they’ll get on a daily basis. As a result, success necessitates a fair dose of perseverance. You’ll want someone on your sales team who isn’t frightened of failure and isn’t put off by rejection. Persistence will triumph in the end and produce results where meekness will not.
They anticipate future outcomes and are always prepared.
It’s not easy to wow clients and persuade them to spend money. Closing a transaction takes a great lot of study, faith, and faultless execution. There are many ways you might go wrong, but only one guaranteed way to convince them: be prepared. Successful sellers research and plan for every contact, appointment, and deal with every prospect at their disposal.
Before they come into the conference room, they know all there is to know about their product, including any potential objections. They also know exactly what they are going to present. They don’t go on and on about items and services without providing something of value in plain, jargon-free language. Every presentation is tailored to the individual and thoroughly prepared.
There’s no way you can get this one wrong. It all comes down to putting forth the effort.
They adapt to the changing times and technologies.
Today’s technology and tools may assist sales executives in effectively coaching their employees and improving sales effectiveness. Reps must rely on tools like CRMs, social media, and AI more than ever before in an increasingly “remote-first” sales landscape. Anyone who refuses to adjust to changing prospect and market conditions will find themselves behind the curve.
Sellers that are tech-savvy will welcome new technologies and use said tools to help them succeed in their daily tasks.
They take advantage of Signals.
Modern-day sellers recognize the significance of signal intelligence and use it to their advantage. Signals are events that enable two businesses to connect for mutual benefit.
For example, hiring a new C-level executive in your prospective account or adopting new technology by the same organization might be considered one of these trigger signals. New product or service releases, corporate growth or relocation, more significant business costs, mergers and acquisitions, cutbacks, or a shift in the marketing channel are all frequent causes for client prospecting. Almost any movement in the sector might mark the beginning of a sales cycle.
Signals are simple to overlook because they aren’t labeled. As a result, your sales team must know what to search for. They should also how to reach out to prospects responding to these signals.
Current tools like LinkedIn Sales Navigator also merge LinkedIn’s network data, relevant news resources, your accounts, potential clients, and preferences to alert you to trigger signals and link you with sales opportunities. It reduces the amount of time and effort required for gathering vital information. It lets you keep accounts and leads, as well as get proactive alerts and compelling event signals.
It might be difficult to explain the modern B2B buyer behavior in one sentence. Making sure your prospecting, researching, and selling efforts don’t go to waste is challenging, to say the least. Every seasoned seller knows that it’s impossible to turn every proposal into a won deal, but you increasing your chances of closing them is the right step to take.
Innovative means of selling, such as signal monitoring, social selling, and a deep and long-term commitment from the whole team are required to execute an organic growth plan successfully.