B2B is short for business to business, business to business. It is a sales model in which one business sells goods or services to other businesses rather than end consumers, as is the case with B2C, business to customer due to b2b ecommerce website development.
B2B sales are considered more complex than retail sales. Companies in this sector work with professional buyers who are committed to making only the best deals. Also, here you often have to sell not to one person, but to a whole group of decision-makers. And all of these people need to be convinced that the B2B product or service they offer is the best on the market. Add to this a longer sales cycle, a chain of necessary documents that usually accompany each transaction, the specifics of working with legal entities – and you get what a B2B business faces every day.
We will analyze how to make life easier for companies engaged in the B2B segment – we will consider all types of such sales, the key differences from B2C, build a successful sales cycle with examples, get acquainted with innovations, and offer services for automating work.
Define the buying process from the client’s side
For clarity, we will use a diagram from a study by Gartner. All these steps are based on a customer-centric approach. You can use this model as a template to clarify the buying process from the prospect’s side and identify key decision points.
Customer side purchase process as reported by Gartner.
Be sure to clarify the following points:
- What other decision-makers are involved in the buying process?
- Are there multiple departments involved in the process?
- How do I contact the different people involved in the process?
- Some you will never be able to contact directly, and you will have to try to convince them through the people to whom you have access.
- How to build trust and credibility in your company?
- What are the different points of customer interaction?
Define the stages of sales
Once you have established a customer buying roadmap, identify the appropriate milestones in the sales. All employees who are actively involved in the process – marketing and sales, customer service, development, and so on – should be involved in the discussion. Their contributions are often valuable.
In order not to be unfounded, here are a few examples of well-designed sales stages for different types of B2B business.
Define goals for each stage of the sale
We have already discussed two important parts of the B2B sales cycle – the customer buying process and the phases of the corresponding sale. Now you need to define goals for each stage.
Goals for each stage of the sale
To do this, you need to answer the following questions:
- What is the task of the stage?
- What is the expected outcome of the stage?
- What should the sales manager achieve at this stage?
You can describe the objectives of each stage in as much detail as the continuation of Harry Potter’s adventures. The only condition is that it can be done for the sales strategy team or for personal use.
If you need to make a manual for the sales department, make sure everything is short, simple, and clear. You will write your volume “Harry Potter and Wholesales” next time, “salesmen” will not need it. Avoid misunderstandings and vague descriptions such as: “Reach a consensus with the client” or “Inform the client about the service.” Read more on https://elogic.co/services/hire-magento-developer/
After you have described what goals the sales manager should achieve and when you need to define his actions for each step.
The general recipe is simple – clearly define the sequence of actions you need to take to “move” the customer to the next stage of the buying process. For example, during the initial work with a potential client, it is important to reach the presentation stage, and if interest is identified, to conclude a deal. What needs to be done, with whom to contact, what materials and to whom to send, and so on – all these are necessary actions that only need to be described.
Define sales tools
The B2B sales process is not self-contained. In addition to the efforts of the seller, certain tools are also needed here, which are needed to achieve the goal.
These can be USP, recommendations, business start-up issues, success stories, demonstrations, and presentations. In addition, it is recommended to use automated sales tools as often as possible.