Business to business (B2B) sales can be as rewarding as they are challenging. You’re helping other businesses to grow and thrive.
Trouble is, 86 percent of B2B buyers can’t tell suppliers apart. That branding problem goes on to become a sales problem if you can’t land new customers.
One way to solve that sales problem is to speed up your B2B selling process. Closing deals, instead of letting sales conversations last for months, will boost your bottom line.
Keen to speed up that process? Read on to learn how.
Research Prospects Upfront
We don’t necessarily mean you should research specific prospects just to pitch to them. But you should understand their business inside out. Once you know their pain points, you know which of their problems you can solve.
Your prospects aren’t paying for your time or even expertise. They’re paying for you to solve their problem. By being clear on how you do that, they’re more likely to buy from you.
That speeds up the B2B sales process. Your target business can get sign-off quicker on buying your product or service if they know it’ll help.
This intensive research also gives you a list of companies to target with your marketing.
Change Your Sales Script
This might sound contentious but stop ‘selling’ during sales conversations. Ask questions and gather lots of information about your prospect.
Their answers give you fodder for your marketing team. They can create content designed to meet these issues for other prospects.
But people like talking about themselves and their businesses. It helps to build rapport if you ask questions and show an interest.
Don’t ask yes/no questions. Instead, use ‘how’ or ‘why’ questions for better, more in-depth answers.
You can always end a sales conversation like this by summarizing their answers back to them. Clarify how your business can help them achieve their goals. Showing that you understand their business is a great way to build trust.
Qualify Leads Within Your B2B Selling Process
If your sales team spends a lot of time at trade shows or networking events, you should end up with a lot of leads.
It’s a great idea to invest in a customer relationship management (CRM) system to help keep track of them. A sales accelerator is a great option.
But don’t pitch all leads with the same offer. Qualify your leads to speed up the sales process by prioritizing the best leads.
How To Qualify Leads
There are different methodologies, and they offer different benefits. An easy one is BANT – budget, authority, need, and timeline.
Do they have the budget to afford your solution? If not, move on.
Does this lead have the authority to sign off on your solution? If not, find out who does. It’s not a deal-breaker because your lead might be acting on their behalf. Just be aware you’ll need to speak to someone with more authority at some point.
Does your lead actually need your solution? If not, move on.
Finally, what’s their timeline for implementing a solution? Finding this out can help you to prioritize your leads.
Follow Up with Leads
A lot of businesses miss out on customers because they gather leads and do nothing with them. Adding them to your mailing list or sending physical mailers won’t encourage them to buy.
Get on the phone with them. Schedule meetings. Find out who makes their buying decisions and have calls with them.
By following up with leads, you get more chances to show how you can solve their pain points. Being proactive also gives you more opportunities to shine.
What Will You Do First?
Identify where you’re up to in this process. You may be great at research but you don’t often qualify leads. Or you might be good at sales conversations but you don’t do much outreach to start them.
Follow these steps to speed up your B2B selling process and boost sales. Why not check out our money and finance articles for more business advice?
