Critical Strategies to Close More B2B Sales

Some Background First...

• Transitioning from B2C to B2B sales requires a shift in approach and understanding.
• In B2B sales, closing deals takes more time, often requiring four to five meetings due to hierarchical structures.
• B2B is fundamentally structured hierarchically, with every level having a boss, and larger deals take longer to materialize.
• Value-based selling is crucial in B2B, where offering knowledge, insights, and education is key to engaging potential clients.
• Building a strong network is vital in B2B sales, as introductions from trusted contacts provide a shortcut past gatekeepers and enhance trust in the business relationships.

• Clarify Your Value Proposition:

  • Have a quick and rehearsed response when asked about your business.
  • Script and memorize your value proposition as it is crucial from a sales perspective.

• Focus on Their Challenges:

  • Move away from selling features and benefits.
  • Understand and address the prospects' challenges, as solutions to their challenges drive sales.

• Get Face to Face:

  • For high-end products or services, prioritize face-to-face interactions.
  • Meeting prospects in person increases the close rate, differentiating from competitors relying solely on phone sales.

• Be Proud of Premium Pricing:

  • Premium pricing is not a drawback; it signifies value.
  • Emphasize the value you provide rather than competing on price.

• Offer Three Option Proposals:

  • Provide three different proposal options to prospects.
  • Options range from basic (inexpensive) to mid-level to premium, setting the value for the offered solutions and reducing the likelihood of being shopped around.

Source:

https://www.youtube.com/watch?v=UI7xLovzx3w&list=PLyVgVZd7jUlrAwzxca3m8pzo6Z3Y1KejV&index=128