What is the B2B Sales Process?
When you think of a salesperson, a bad taste probably follows. Even as a sales person, it can be a daunting task to fight through your nerves and figure out what to discuss with your (hopeful) future client without sounding too eager. Confidence is obviously key when dealing with sales, but it is more than just that. Dealing with sales is harder than ever, and it all comes down to the customers you are dealing with.
Customers today are savvier than ever. 57% of the buyer’s journey is completed before the buyer talks to sales (Corporate Executive Board). With social media and the internet in play, customers have the ability to learn whatever they want about your product or service at the click of a mouse. Think of the last time you bought something: you probably checked some online reviews or asked some friends before buying. Now we aren’t saying that sales are dead, however, a new approach is needed for successful sales to concur. Customers now know what they want and from who, without ever speaking to a sales representative.
Then, there are the issues of selling to a business. When dealing exclusively with B2B sales (business to business), it’s important to note that the business you’re selling to most likely has a sales team of their own. They know all the tricks and precisely what you are attempting to do (making your joke all the harder). So, exactly what is the B2B sales process and how to you implement it with your current sales strategy?
The B2B sales process is a systematic approach that involves a series of steps (Prospect → Qualify → Close → Delight) that allows a sales force to close more deals, increase margins and thus make more sales through referrals.
Through distinct steps, the B2B sales process can make those dreadful sales calls and emails a thing of the past. Not only will it make a more efficient process, it creates higher sales revenue (and those sweet sales commissions). Companies with mature lead generation and management practices have a 9.3% higher sales quota achievement rate (CSO Insights).
The B2B sales process is all about doing your research on your client. Around 42% of salespeople believe they don’t have the necessary information before cold calling a prospect (Lattice). Through Prospecting and Qualifying sales leads, you can simply validate your actions and show your clients that you have value to offer them. Closing and Delighting stages are the final achievements, but not nearly the end of your duties.
In our following 4 blog series, we will be diving deep into the B2B sales process, why it’s important, and how to implement it with your company.