B2B sales are rewarding but alongside requires not only consistent effort but also detailed know-how. The customers for a B2B marketer are the decision-makers of the business, the key people of the organization and they are certainly not easy-to-pitch.
But, did you know that most of the B2B salespeople commit some fatal mistakes in common and don’t even realize that it’s a fault? However, these mistakes can cost the organization in millions both in terms of money and goodwill.
If you are looking to climb the ladder of success with an efficient B2B business strategy, here are 5 common mistakes you must avoid at all costs mentioned by the popular client acquisition company Ramped.
The focal point is features and benefits
There was a time when businesses took a keen interest in your products’ features and benefits. But over time, their approach has shifted to the outcomes and results that you can deliver on their tables.
There are still many companies that keep highlighting their features and benefits while selling their products. You need to rethink about your marketing plan, now the prospects only talk in the language of results.
So, read your prospects pain points and key challenges, and serve them with a ‘solution’ instead of the product. This will not only push them faster on the next stage of the funnel but also foster your expertise in the industry.
The value proposition is not clear
Just like consumers are interested in the value proposition while buying from the B2C sellers, even business clients are hunting for the same. Your achievements, services and other irrelevant details about the firm don’t matter if you fail to deliver a strong pitch that only talks about the value that you are going to add in the prospects’ business.
In a B2B environment, you must always be ready with your value proposition. Chalk out the points, craft a crisp and concise value proposition and memorize it word-to-word. This part of your sales presentation is all that matters when you meet a prospect passing-by.
Phone and the internet is the central mode for sales
While social media and electronic devices have come to rescue everywhere, they can never replace the impact of a one-on-one meeting.
Especially, in a B2B setting when you are dealing with products that demands comparatively higher investments, the phone is certainly not the ideal choice for sales.
Due to the increasing number of scams, the dependence is nil along with the complexity to explain the features and further procedures. Take the extra effort to meet your prospect (if it seems very close to the final purchase), and all the extra conversions will be yours to embrace.
Reaching out to low-level buyers
A lot of businesses seek low-level buyers for long-term business because of the ease of access and less turn-around time.
The reach might be easier, but the low-level buyers do not have a budget to give you the business of your dreams. If you are very lucky, you might just reach the final purchase for once, but mostly it’s only a farce reality.
The reason why it is always advisable to reach out to high-level buyers who would rather say ‘YES’ to your business in one shot.
Offering too-good-to-be-true deals and discounts
That’s the major difference in B2B and B2C. Deals and discounts are not the point-of-attraction for a business who is looking for value addition and long-term benefits; instead, it puts a question mark on the efficacy of the product. So, never refer to discounts and deals for the sake of generating some quick revenue, it is just lowering your value in the eyes of the prospects.
Be confident about your product/service and sell them at its deserved rate. When your product reflects the value, businesses will naturally flock around you to buy the product with or without the deals and discounts.
In today’s world when the competition is at its peak and the industries are overcrowded, you can’t afford to make mistakes and survive the trauma.
So, avoid these 5 fatal mistakes to defeat the backlog and convert the leads into a repeat buyer with consistency and efficiency.
Before I wrap up, here’s one final tip, to gain the tad-bit extra than the others, you need to do things that others don’t, you’ve got to choose a different path and create a unique stance. So, let the creativity take over!