No matter how experienced you are in the industry, with the way Artificial Intelligence and Martech are transforming traditional sales, it can get daunting at times. So, we’re here to offer you 5 different tips for making faster closures in B2B sales. But before diving in, let’s take a look at the most common challenges that B2B sales reps have to face, globally –
– Finding Qualified Leads
– Reaching decision-makers
– Receiving responses from prospects
– Providing more value than the competition
– Retaining customers and maintaining client relationships
– Lengthy Sales Cycle
And many more.
If you relate to any of these challenges and face it in your daily operations, then this blog will surely help you improve your B2B sales process. Read on!
Tip 1: Detailed Competitor Research
Like any typical buyer, when a company is looking to buy a product or a service, they evaluate multiple players in the market and go with the one that is the best match for all their requirements. Hence, to be able to convince your prospects that your product is better than the rest, you should be having an in-depth knowledge of your competitors’ pros and cons.
Only if you do your homework will you be able to impress your prospects during your evaluation meetings. And as it is frequently said, keep your friends close and enemies closer.
Tip 2: AI-driven Lead Generation and Qualification tools
Gone are the days when lead generation and qualification were done by marketing teams based on their gut feelings, professional judgment, and habitual ways of qualifying a prospect. Now, AI drives everything! Intelligent and customizable algorithms, finding and qualifying the best leads for your business are the secret weapon that almost every business is adopting in the era of digital transformation.
Not only does this save time, but it also increases the accuracy and efficiency of similar, inconsistent, result-driving processes.
Tip 3: Detailed Prospect Research
In-Depth research never hurt anyone. Always remember to do some background research on your prospect, the company they work at, other stakeholders involved in the decision-making process, the technologies they have been using, the pain points they’re currently facing that need immediate attention, the budget and every other variable which can determine the sales cycle for the client.
Tip 4: Pricing is key
Now, here’s a tricky one. Pay attention.
More often than not, single rigid pricing won’t work for all your clients because of various factors that would impact their buying decisions. In order to make a sale, you should have a pricing module flexible enough to meet all your client requirements within a specified budget. In most cases, having tier-based pricing on the basis of the features you want to provide can be a solution.
This can also be an incentive to upsell your product/service to your existing client base.
Tip 5: Make sure you are talking to the decision-maker
No matter how easy it is to build and develop client relationships with the purchasing managers or the evaluators, if they don’t have the budget or the buying authority, then you’ll just end up wasting your time. It is always a better idea to identify the decision-maker and pitch your product directly to them.
In the case of product demos and pricing discussions, make sure that all the required stakeholders are present. This will not only make a strong first impact but it will also shorten the Sales Cycles.
These are 5 tips that can be the core differentiators in how B2B Sales teams function to meet their quotas and close more deals. Get a headstart against your competition in the world of B2B Sales by identifying the right target audience, generating and engaging with the right leads and getting more closures with AI-driven LeadMi.io.