Mastering B2B sales I Challenges and opportunities
Mastering B2B sales I Challenges and opportunities
B2B sales: mastering challenges and seizing opportunities
A tendency towards larger order volumes and structured procurement processes with several contact persons on the customer side: these are key characteristics of sales to corporate customers (B2B). Dealing with this combination of factors constantly poses new challenges for B2B sales in practice. At the same time, B2B sales are crucial to the success of many companies. After all, for the provider of sales software, the question is not whether the software should be marketed to companies or private individuals (B2C). Those who do not master the special challenges of the B2B sales process are not only at a competitive disadvantage. In the long run, survival will be difficult if the sales department does not manage to convey the right offers to attractive prospects.
But enough pessimism: ambitious sales professionals focus on the opportunities. They analyze the challenges and solve them in order to consistently lead their company to the top of the segment. This much we can reveal: Active relationship management, embedded in an efficient sales methodology, forms the basis. Together with the sensible use of digital approaches, this opens up completely new opportunities for B2B sales.
B2B sales, what does that mean?
Just as in the business customer sector, there are both one-off transactions and ongoing business relationships in the private customer sector. However, the customer relationship in the B2C sector is often less intensive. The sales process itself is also generally much more straightforward and shorter than in B2B sales. Take buying shoes, for example: when walking through the store, a beautiful pair catches the eye of an interested customer. They try them on and buy them straight away - it can be that simple.
But in the business-to-business (B2B) sector, things are quite different. Sales professionals know this: Points are only added to the account once the finish line has actually been crossed. And the road to the final destination can be a long one in B2B sales. It is not uncommon for the deal to come to a halt along the way because the company contact cannot make the purchasing decision alone, the competition wins out in the last few meters or the necessary budget is simply lacking. It is rather unusual, on the other hand, to check with family and friends before making a private shoe purchase.
Unlike in B2C sales, many factors and, above all, many different people play a role in the B2B sector. From a certain purchase value, numerous stakeholders come into play and a formal, sometimes unwieldy process gets rolling:
Legal department
Budget owner
Purchasing department
IT department
Engineering
In the most complicated case from a sales perspective, all of these stakeholders have to be involved in a deal. On the surface, of course, they share the same goal: finding the best solution for their own company. However, the definition of the "best solution" often differs. After all, every company stakeholder has their own perspective on things. This situation leads to the central challenges in B2B sales.
Challenges in B2B sales
We have learned that B2B sales can be a real resource guzzler. A quick path to closing the deal is an absolute exception. First contact, discovery call and then straight to the deal? It only works like this if numerous framework conditions interact perfectly. Experience has shown that many sales staff even become cautious when everything seems far too simple. While everything is clear on the surface, significant obstacles can be lurking in the background. Instead of the contract being signed, there is suddenly deadline after deadline. It is not uncommon for the sales team to lose out in injury time.
1. personality matters - also in B2B sales
When we talk about business units as stakeholders, it always sounds impersonal. We hear organizational units and easily forget that it is always people who represent these areas. In the end, however, it is no different to the end customer business: there are people on both sides. Regardless of the product or service, people buy from people - or not.
In plain language, this means that the relationship level in the B2B context determines success or failure. It is even more important in B2B sales than in business with private customers. And it continues to grow, as more and more professionals are expressly encouraging personal interaction! This is why alternative discussion formats such as virtual coffee in an informal setting are also very popular.
Long-term relationships and complex products and services dominate the B2B business. Accordingly, there are inevitably recurring contacts, new decision-makers and detailed coordination to find the best individual solution. Only those who have professional trust speak plainly - and only then will opportunities ultimately become successful deals for both sides. The challenge is therefore to make human relationships as positive as possible. Actively building relationships, expanding and maintaining the network and always acting honestly: Investing in relationships takes effort. But it pays off twofold through measurable success and personal affirmation.
2. the hunger for resources is eating up the sales department
The B2B sales process can be exhausting, and not just at the relationship level. Sales organizations have to go the extra mile to secure promising business. The path leads from establishing a dialog to jointly defining the optimal individual offer to signing the contract. Take the follow-up meeting after a product demo, for example: which points have remained open and which stakeholders still need to be on board? Sales professionals need to answer these questions for themselves in order to consistently drive the sales process forward. To keep motivation high on the prospect's side, every touchpoint must deliver added value. This creates the necessary need to close a deal. The sales department is responsible for preparation, conducting meetings and follow-up. However, the sales cycle ties up additional resources internally. Does the legal department get involved in reviewing contractual conditions, or does the development department create an initial proof of concept (POC)? In any case, the opportunity should be worth this effort!
Sales needs passionate people who are enthusiastic about joint projects. But they also need to keep a cool head in order to master the resource-hungry nature of B2B projects. Preparing appointments individually, preparing convincing arguments and creating documents? Absolutely, but with brains! Otherwise the sales business will unnecessarily sap the energy of employees and the organization.
3. many soft factors make reliable assessments difficult
There is no doubt that limited resources should first be used by the sales department for those opportunities that look the most promising. It is not only the potential contract volume that plays a role here. Those responsible must also take into account the effort involved in initiating the business in order to complete the picture. This is how gross becomes net! The decisive factor is what remains at the end of a deal. This raises a number of questions:
- What steps are still missing until completion
- What are the prospects of our bid being accepted?
- Can we enforce our contractual conditions?
- Is the opportunity of strategic importance for opening up new business areas or market segments?
Sales professionals are competitive people. They are determined to get the best out of every opportunity for themselves and the interested party. This is the only way they can consistently create added value. At the same time, this ensures that each salesperson attaches the greatest importance to their own opportunities. However, the management level must weigh things up in order to allocate resources efficiently. This is why a consistent methodology for qualifying B2B projects is needed. It must start as early as possible in the process in order to be able to prioritize correctly from the outset. MEDDICC is such a methodology that permeates the B2B sales process and integrates all success factors.
Opportunities in B2B sales of the future
If you want to stay ahead, you need to develop answers to the three key challenges in B2B sales. Even if it takes effort, it is definitely worth it. After all, the end result is more attractive deals that can be reliably won with optimized use of resources. This not only helps the company move forward, but also makes the sales department a breeding ground for promising talent: the best basis for long-term, stable success.
1. differentiation through personality
Very few providers have their niche all to themselves. They are therefore not the first sales force to want to promote their solution to a prospect. It is therefore all the more important to stand out from the crowd - and you can do this with your own personality. David Kramer puts it in a nutshell with his concept: marketing and sales is always human to human (H2H). A pleasant conversational atmosphere and familiarity are not an end in themselves. If you put the exchange on a healthy relationship basis, you get more valuable information! As a sales professional, you must also play your part in this. However, this relationship can help you overcome many hurdles throughout the stages of the sales process.
2. use digital support
People are the decisive factor in sales and their relationships are the key enabler for successful deals. Exchanging information in conversations and interpreting it correctly: This is the core task of sales professionals. However, they need the necessary freedom to be able to concentrate on this. So use software support! Digitalization in B2B sales primarily simplifies supporting activities, such as call documentation, preparation and evaluation. These are necessary, but usually take up far too much time on a day-to-day basis.
Software for sales applications can not only relieve the burden in terms of time. There is also live support for conducting conversations. Where previously conversation guidelines were refined in a trial-and-error process, today Conversation Intelligence helps in real time to keep the conversation on track for success. Artificial intelligence will play an increasingly important role in the B2B sales of the future.
3. stay on the ball
In B2B business, does the supplier have to make advance payments? Is personal contact much more effective than the standard approach? Yet the outcome is anything but guaranteed? Yes, yes and yes! But none of this changes the fact that sales requires brains and hard work in equal measure. So you have to keep at it. Sales staff should be present at every stage of the sales process. Take nothing for granted, remain curious and adapt your own messages increasingly better to the individual situation of the prospect. After the deal is before the deal, so it doesn't end when the deal is closed.
Take your chance in B2B Sales
The challenges in B2B sales are nothing new. Almost all sales professionals are familiar with them from their professional practice. However, new perspectives and innovative technological possibilities can provide effective answers and thus open up real opportunities for greater success:
- Bringing the focus on the personal relationship into the B2B sector and making it specifically advantageous.
- Use the possibilities of digitalization to give sales professionals the freedom they need for their core tasks.
- At the same time, we can obtain higher-quality information and process it in such a way that it provides maximum benefit.
In this way, you will bring more drive to the sales process. A focused way of working not only creates more success on paper. It also boosts the motivation of the sales team - and that will inspire their external and internal contacts!
