The world of B2B sales is complex.
The strategies, processes, and tools required to be successful in B2B sales are varied and knowing how to use them effectively is challenging.
We are here to help.
In this article, we will explore the the world of B2B sales, breakdown the most effective strategies and tools for selling in this realm, and offer tips and advice that can give sales professionals an edge in an increasingly competitive market.
What is B2B sales?
The B2B sales model is defined by the selling of products and services from one company or organization to another.
- The customer- In B2B sales, the customer is a business entity. The business may be represented by a single individual or many, but it is the needs of the business that must be met.
- Products and services- B2B products and services need to be specialized and customizable in order to cater to the specific needs of individual businesses.
Some examples of B2B product and service categories include:
- Industrial machinery
- Specialized software
- Professional services
- Raw materials (often sold in bulk)
- The sales process- B2B sales processes involve several deal stages and require lengthy negotiation periods with multiple stakeholders within an organization.
Some examples of these decision-makers include:
- Purchasing managers
- Department heads
- Administrators
- Executives
B2B sales- 5 key elements
Understanding the key elements of B2B sales can help you create strategies and approaches that will lead to greater sales success.
The following are the five key elements you should consider.
- The customer relationship- In B2B sales, relationships are built over time, often with the intention of creating long-lasting partnerships that benefit both parties.
A sales professional may spend months or even years talking with the same people, giving them plenty of opportunities to build rapport and develop genuine and lasting connections.
- Purchase volume- B2B product sales usually involve bulk purchase volumes and/or recurring purchases. B2B service sales often take the form of long-term contracts.
This makes every deal in B2B sales significant, as a single sale can generate revenue over and over again.
- Sales complexity- The B2B sales cycle is typically long and complicated, with a potential customer passing through several stages on their way to a purchase.
Negotiations often involve multiple stakeholders and the needs of each must be addressed in order to close a deal.
This means a B2B sales professional is required to be an expert in their own products and services and knowledgeable about the prospect’s business as well.
Our article, How To Create A High-Impact Sales Playbook: A Guide For Sales Team Leaders, is an excellent resource that can help you simplify the complex world of B2B sales.
Buyer considerations- B2B buyers are primarily focused on meeting the needs of their business or organization.
Common considerations for the decision-makers include:
- Alignment with business objectives
- Seeing a return on investment (ROI)
- Improving operational efficiency
- Overcoming specific challenges
In B2B sales, it is often necessary to satisfactorily address all of a business’s considerations and objections in order to close a deal.
- Marketing- B2B marketing campaigns tend to be focused and specialized, targeting specific industries based on an ideal customer profile (ICP), with tailored messaging that features the terminology and jargon commonly used by the professionals working in those industries.
The goal of these marketing efforts is to establish trust and credibility while demonstrating expertise.
B2B marketing often uses content-driven strategies centered on problem-solving and thought leadership. Examples of B2B marketing content include:
- Educational resources (webinars, guides, reports)
- White papers
- Case studies
- Infographics
- Blogs
B2B sales strategies
The techniques and skills used to sell in B2B are centered around relationship building and expertise.
Sales professionals need to invest time in understanding the businesses, industries, and companies they sell to.
They need to be able to demonstrate that understanding in their messaging, pitch meetings, demos, and other sales activities.
- Account-based selling- With this sales strategy, a B2B company identifies high-potential accounts and then creates a tailored approach that speaks to the unique and specific needs of that account.
Account-based selling requires deep knowledge of the targeted account, including its challenges, goals, stakeholders, and key decision-makers.
Targeted accounts can be new prospects or existing customers with a high potential for growth and expansion.
Our Key Account Management Playbook can help you create an effective and repeatable account-based selling process.
- Consultative selling- With this strategy, B2B sales professionals position themselves as experts and advisors who understand the obstacles and pain points that a prospective business faces and offer solutions to overcome them.
Consultative selling requires a breadth of industry-specific knowledge, including:
- Industry market trends and dynamics
- Legal and compliance requirements
- Common practices and processes
- Common tools and technology
- Industry-specific terminology
- Value-based selling- This sales strategy emphasizes the ROI that a prospective business can expect if they purchase your product or service.
Value-based selling requires an in-depth understanding of the financial considerations of the businesses and industries you are targeting, including:
- Revenue generation
- Growth potential
- Operating costs
- Profit-margins
B2B sales tools
B2B sales tools help B2B businesses improve sales efficiency, track sales performance, and automate data capture, lead nurturing, and outreach.
- Email marketing automation software- Sales teams in B2B often use email marketing automation tools like Mailchimp, ActiveCampaign, or SendGrid.
These platforms can help you align your sales messaging and optimize your communication cadences through personalized email templates and automated email follow-ups.
They also track the success of your email campaigns, allowing you to improve your delivery rates, open-rates, and clickthroughs based on real-time data and analytics.
For help finding an email automation platform that is right for you, check out our comparison articles:
- Sales analytics and reporting tools- Sales leaders use analytics and reporting tools to evaluate performance, track success toward quotas, and use data-driven insights to inform procedural improvements.
These tools can also be used to gamify results and foster a sense of friendly competition between sales professionals.
- CRM platforms (customer relationship management)- The number one tool for sales professionals in the B2B space is CRM.
These powerful software toolsets are the centralized hub through which all your sales activities pass through.
A CRM can help you:
What’s more, a CRM platform comes fully equipped with all the sales analytics and reporting tools you need.
You can even manage your email marketing automation tools within your CRM, creating a truly seamless sales experience for your customers and your team.
FreeAgent CRM can help you improve and refine all your B2B sales processes
FreeAgent CRM is designed for today’s world of work and our robust toolset is ideally suited to supporting the varied work processes of modern businesses. FreeAgent is:
- Easy to use: FreeAgent works like you expect modern apps to work, providing a user experience that feels fresh and familiar. Teams love working in FreeAgent, leading to high adoption and greater ROI.
- User-configurable: FreeAgent can be configured by you to work the way you do. This means you don’t need outside support to add a form field, adjust a CRM automated workflow, or try out a new process.
- Customizable: With FreeAgent, apps, forms, and configurations are all completely customizable, allowing you to capture and connect your data in any way you like.
To see FreeAgent in action, get a demo, and discover for yourself how FreeAgent can help you have workdays full of impact.
