Everything You Need to Know About B2B Sales

By Swatil Binte Mahmud, Lava Protocols

Let’s dive in, shall we?

What is B2B sales? 

Business to Business (B2B), in simple words, is one business selling products or services to another business. It is different from business to consumer (B2C) sales because both the parties involved are businesses. These sales can be challenging as they can be enormous in size. Hence, businesses spend a reasonable amount of time researching and understanding prospects’ businesses before selling their products to get a better idea about their challenges, needs, and industry. Also, the role of B2B has evolved in recent years as they are not just sellers. They are also advisors to their customers.

What are the 8 steps of B2B sales?

Salesforce has come up with a B2B sales process which has eight important steps which takes a buyer from the initial stage of discovery to a closed sale. These steps are part of a well-thought-out strategy. However, every organization has a slightly different B2B sales process. A typical eight-step B2B sales process consists of:

1. Developing an in-depth understanding of offerings: Salespeople will have to give time and effort to do the background work and continuously learn about the services and products they sell.
2. Prospecting: Prospecting involves finding new businesses that use or need your services and products. Salespeople can use both online and offline channels to find new companies. 
3. Qualifying: After identifying prospective businesses, salespeople will have to connect with them to know if they are interested.
4. Research: Research is vital in B2B sales as they have a complex nature. Good research enables salespeople to tailor their sales pitch to each prospects’ needs. Salespeople can also use Salesforce to see past interactions and historical data about the leads. This way, they can save time and utilize the benefits of CRM software to target new customers.
5. Pitching: A good sales pitch is one of the most crucial steps in converting a B2B prospect into a customer. Pitching can be done as a presentation, product demonstration, or a combination of multiple methods. Some salespeople get very creative with their sales pitch which increases their chance of closing the deal.
6. Handling objections: Salespeople should think and anticipate possible questions prospects might ask. A good salesperson always has answers and can easily win the confidence of their leads.
7. Closing: Closing a deal can take the form of price negotiation, a quotation, or contract signing.
8. Nurturing: B2B salespeople nurture relationships with their clients even after closed deals. Sometimes, this means going on fun dinners, catching up monthly, or even sending a cake and card on birthdays!                  

What are some B2B Sales techniques?

1. Solution selling: First, you have to gain a deep understanding of the buyer’s business, needs, and problems. Then you have to offer a tailored and holistic solution, products, or services.
2. Account-based sales: This technique focuses on premium clients and their needs. Salespeople are expected to offer them end-to-end, highly tailored experiences, products, or services.
3. Challenger sale: This is tricky because you have to take an active role and make your customers understand why they need your product. So, salespeople will have to educate and inform their customers before making a sale.
4. Sandler selling system: Salespeople will need to establish themselves as trusted advisors to clients. This technique focuses on establishing a relationship first and making a sale later.
5. Value selling: The value selling technique involves salespeople establishing the value addition their products or services can make to the buyer’s business. Most buyers are interested in values that are cost-saving and profit-making.

Want some B2B Sales tips?

1. Train your sales team continuously. B2B buyers appreciate salespeople who demonstrate skill and expertise.
2. Focus on solving problems for your clients rather than pushing your products and services on them. Also, remember to ask the right questions and provide relevant information.
3. Adopt omnichannel outreach for better customer relationship management and cloud services. You can head over to Salesforce and see which of their products suits your business (or let us know and we will be happy to walk you through that journey).
4. You can opt for sales engagement tools that use data and Artificial Intelligence (AI). Salesforce is the leading customer relationship management service provider in the world. So, you can consider their cloud solutions and A.I. incorporated software for your business.

So, do you know more about B2B now than you did 5 minutes ago? B2B sales are evolving and changing for the better. Due to the pandemic, we see more shifts in businesses than ever before. But some tools are at your disposal that can help you be on track and keep up with the competitive business environment.

Lava Protocols is an authorized Salesforce Partner. Need to boost your business? Drop us an email to: hello@lavaprotocols.com.