3 Unique B2B Sales Strategies Proven to Win More Customers

3 Unique B2B Sales Strategies Proven to Win More Customers

Different business modules require different sales strategies that are effective in their growth. B2B (business to business) companies sell their products and services to other businesses rather than individual customers. B2B sales need complex strategies to persuade target businesses in order to seal the deal. The sales process in B2B companies takes a lot more time than the B2C transactions because it involves heavy decision making backed by professional teams on both ends. The B2B sales process includes everything from social media presence, reviews from fellow businesses to marketing campaigns and so much more. Here we discuss three strategies that will help you gain more customers –

  1. Focus on each individual account

Treating each account as a separate market can really help a company move up its game. Account-based selling has been a tried and tested method of improving sales for years. Cold calling and methods of generic outreach are a thing of the past. Taking care of your customer will help you build a successful and long-running partnership that will result in more business in the future. Addressing the goals of a company and building your sales strategy according to their needs and challenges will give you a better response. Assessing what a customer needs and pitching the right ideas at the right team is a sure-shot way of turning leads into high-value conversions.

  • Target – choose carefully the accounts that you want to go in business with and figure out their needs and compatibility, according to industry, logistics and the size of the company.
  • Research – next, you need to identify what the company needs, how you can fulfil their demands and who the decision-makers are in your target company. People who influence the purchase decisions should be paid special attention to.
  • Personalisation – treat every account special. Build tailored content for each company and stories of similar success accounts. Make the company believe in your desire to give them the best product/service.
  • Engage – put some effort and insight into your approach when you start a conversation with a professional from your target business. A warm engagement will yield better results than a cold call.

 

  1. Alignment of sales and marketing teams

The marketing and sales teams in any business have always been known to be at each other’s throats. While sometimes it may or may not turn out to be a difficult situation, but when an alliance is formed between the two teams, the force becomes unstoppable. The main key here is open and clear communication – participation from members of both teams aiming for the same goal. Studies have shown that when sales and marketing teams work together in harmony, an increase in sales is a definite result. On the other hand, a misalignment of both departments has shown to reduce the sales as well as productivity.

When going after a potential customer, both sales and marketing teams need to be on the same page about the strategy. The marketing team needs to update and involve the salespeople about the content and guide them on how to use it and when. Similarly, the sales team should inform the marketing team on how they plan to convert their leads so the developed content can be used in a better and effective way to attract the potential business. A clear communication channel between the two is the best way for a smooth workflow.

A good alignment between the sales and marketing teams also guarantees a good impression on the customer. When both teams work together in unison, the advertised product in the market is seen by the customers without any confusion or misinformation. If the client business sees an ad for a product or service and upon query gets exactly what was advertised, it is certainly more likely to turn into a sale.

  1. Social media marketing

In today’s day and age, if social media marketing strategies are used properly, the effect on sales can boom exponentially. Gone are the days when marketing used to be word-of-mouth or just an ad in the newspaper. In the current times, businesses need to be in tune with global events and political climate and use it for their advantage. Social media has been such a boon for the marketing industry that it is now the first choice for businesses to promote their product. In B2B sales as well, a good and strong social media presence will help your sales in more ways than one.

Keep in mind, businesses need to pick their social media platforms wisely. For example, a business or technical ad/blog that does fairly well on LinkedIn might not get the same reception on Instagram or Facebook. A well thought out marketing campaign on social media can do wonders for a business. It is the first thing that pops up when a client business looks you up on the internet and can also help in taking forward existing business relationships, apart from forming new ones.

Social media marketing works well for B2B companies as it helps in breaking the ice and forming the beginning of a relationship before the companies delve into the sales of products/services. When a client sees that a business is putting constant efforts into letting their brand reach a wide audience via similar channels, they are more likely to go into business with them.

These three tried and tested methods of increasing sales in a B2B organization are guaranteed to give you better results if executed efficiently.

Boom Of Mobile Technologies In B2B

Boom Of Mobile Technologies In B2B

In an age tyrannized by digital advancements, it is more arduous than ever to connect with clients and consumers in innovative ways. We all agree on the fact that developing user-friendly and engaging e-commerce brings in positive experiences, but applying these principles to mobile apps can daunt and challenging too. Most B2B mobile apps tailor results based on the consumer company which misses the personal element vital for providing the most relevant recommendations. Without a proper guided understanding of how mobile apps should be used, companies risk losing their rapidly evolving customer base.

The pressure on distributors to adapt to B2B mobile buyer habits is advancing at a high pace. Mobile now holds 30% of B2B eCommerce sales and, with general mobile usage now outpacing that of desktop pcs, that figure is only set to advance. Suppliers of all stripes are making use of mobile technology to keep up with new demands and expectations of the market. The positive aspect is that the trend towards mobile technology carries with it a range of fresh opportunities for freshers. It enables the functionality to operate outside of the confined traditional desktop browser. They can now take advantage of new features like push notifications, social media integration, and mobile payments. They are no longer tethered to a traditional desk; they are more likely to work from home or stay productive on mobile while commuting and traveling.

Why Mobile Is Successful On B2B Platform

Most of the B2B happens on the phone, either through calls or messaging apps. These buyers and sellers have already bypassed the PC boom and directly adopted smartphone technology for simplifying their business needs. Also, it suits their requirement of always connected with their partners. They are available 24×7 for business and mobile is just the right tool for this purpose. The ease of carrying a mobile phone brings another critical success factor, multi-tasking, especially when they are interacting with people in an offline world all the time. This makes the mobile app more admissible to both parties, buyers, and sellers. Space constraint is the biggest hurdle that doesn’t allow them to keep a PC or a laptop in the case of many Wholesalers and Shopkeepers and for that reason, mobile phones fit the right way.

Problem Of Logistics And Connectivity

Shopkeepers falling under tier 2 and tier 3 towns do not have direct access to the best products of pricing. This problem can be resolved by incorporating internet which may discover new sourcing options. Mobile internet bridges that gap between buyer and seller to give them this access sitting under the roof of their shop and conducting their daily business. Under the logistics front, a big role that mobile has played is a real-time tracking of the package. Status of the package including when it was delivered is updated in real-time and helps customers figure out their anxiety better. When goods are in bulk, this ability tracks down the vehicle in real-time and helps in optimizing cost, reducing anxiety, managing routes and delivery times at one place.

B2B Mobile Leaders Prioritize Mobile

The leaders take a fundamentally different, customer-centric approach to mobile. They understand the role mobile plays at key engagement users, and with different individual roles within the buying team, and develop a specific strategy for each category. In the next phase, they attempt to develop simple mobile-first experiences comprising a minimal text with vertical creative formats and take advantage of different smartphone capabilities, such as location data and click-to-call links. Finally, mobile leaders combining their data with relatable third-party data to get a better insight into customers, which helps them to improve customer experiences and drive loyalty. The B2B purchase process can be long and complex at the same time or could be high-quality, personalized content, delivered throughout the buying journey which is an important differentiator.

Mobile Is Driving Business

Research predicts that mobile speeds up time to purchase, which boosts revenues and ultimately reduces costs. Mobile can hasten up time to purchase by 20% through facilitating efficiencies in decision-making and enhanced user engagement diverting towards more complex purchases. Mobile leaders adopting B2B can generate higher levels of mobile engagement as measured by search queries, site traffic, lead generation, and actual transactions. They also analyzed that a greater share of revenue is mobile-driven or influenced.

New Marketing And Advertising Opportunities

As mobile creates its prominence, it leads to new advertising opportunities. You can send marketing messages to your users, whether to remind them to finish their purchase or try out a new promotion. These categories of features are growing in number incorporating the ability to target people based on their browsing history and location. According to research, numerous B2B buyers are influenced by social media. This trend closely follows the second one in the sense that mobile technology works consistently with an array of social sharing functionalities on mobile devices. It’s not often that retailers will want to tweet about their latest bulk order, but it becomes important for the suppliers to realize that their app or mobile website is tied up with this sharing ecosystem. If we consider a clothing retailer, then it may post images of a new item to their social media to attract more customers, or a marketing executive may share information about a new product to their LinkedIn following. A research conducted by Dell shows that 57% of B2B buyers go through existing conversations, check reviews about products before making a purchase.

Implementing mobile technology has become a benchmark nowadays. Therefore, it is important to strategize for making informed decisions about implementing plans. Going with the analytics related to help, you get an idea of what works and what doesn’t which helps to make necessary tweaks for increased productivity.

Why Should B2Bs Should Spend More on Digital Advertising

Why Should B2Bs Should Spend More on Digital Advertising

The internet is ripe with digital marketing and businesses are increasingly relying on it to reach their customer base. This includes socials media ads, promotions, PPCs, etc. While you might think that digital advertising is everywhere and everyone is using exhaustively, this is clearly not the case with B2Bs. They do not spend enough on digitals ads due to various challenges. It is B2Cs that are making the most of digital advertising.

Traditional Channels are Still the Top Choices for B2B

For B2Bs, traditional methods like content marketing, emails, and personal calls are still the favorite. Email marketing is the leading marketing strategy used by them. This might be due to the fact that individual customers make use of digital ads more than businesses.

The organizations prefer to close the deals through a meeting or through personal interactions over calls. Another reason might be the fact that some companies have not yet undergone digital transformation and are, therefore, not comfortable using digital tactics. Only the businesses at par with digital advancement have the right technology and skilled people to execute as well as benefit from sophisticated ads.

Why Should This Change?

It appears that businesses are losing out a lot due to their inability to adapt to digital advancements. Digitals ads are one of the leading drivers of ROI in the modern landscape. B2Bs need to invest more in digitals advertising driven by data to see improved results. Pouring in more effort into getting to know your customers and how they move down the sales funnel can help in making your digital ads more effective.

This transformation is essential for businesses because the modern world is extremely competitive. While your rivals are benefitting from the power of digital media, you cannot stay back and let them take all the limelight.

How to Use Digital Advertising for Maximum B2B Engagement?

It is about time that you start reaping the benefits of digital advertising in B2B marketing. Here are some tips that will help you start strong.

  1. Deliver Useful Content.

What are you more likely to click on- a general ad or the one that is relevant to your needs? Of course, you will right away follow a link/ad that offers you a solution to a problem you have been facing or a thing that you have been looking to buy. B2B marketers must anticipate the needs of the prospects and launch ads that they are more likely to benefit from. Technology offers many tools like marketing intelligence and analytics that are instrumental in knowing the customer behavior and preferences. You can use cookies from the browsing data to make sure that they see ads that lead them to sales.

  1. Give your Prospects What the Ad Promises.

Nothing is more repelling than an ad that is very impressive on the surface but when clicked leads to nothing that was promised on it. It is called clickbait and can cost you not only your business but also reputation. The key to business success is delivering what customers expect. Therefore, design your ads carefully to offer your prospects with some benefits but at the same time make sure that it is something that you can actually deliver. Digital ads are quite useful in making your relationship with your customers transparent and therefore, have the capacity to establish your credibility.

 

  1. Make Sure you Tap your Target Audience.

Lastly, you must make sure that your ads are reaching the people they are meant for and at the right time. Therefore, your digital advertising strategy has to be carefully planned keeping in mind what you want to achieve. If you fail to plan, there are good chances that your ad is not seen by people for whom it is actually meant. Make use of data analytics and intelligence tools to reach your target audience to increase the chances of their engagement.

For B2B marketers, it is important to differentiate their ads from the rest. The above tips can be quite helpful in helping you tap the opportunities that once seemed distant. For more insights, contact us now.

How Leveraging the Power of Social Media can Change the B2B Game?

How Leveraging the Power of Social Media can Change the B2B Game?

We met an acquaintance a few weeks back who is running his own business and as we were talking about the strategy for sustaining in this cut-throat era, he just spilled his biggest fear, the threat of being a failure and losing the traffic by lack of its presence on social media. No wonder with this thought process, “Social media is for the apparels and makeup shopping only” he wasn’t wrong because his fear would eventually turn into a grim reality and eat away his traffic.

 

Humans have always been able to touch lives by their social presence and with the advent of globalization and the world becoming smaller, the presence on social media is the biggest channel to touch and influence lives. Replacement of chat rooms by WhatsApp groups has, in fact, brought us closer to the different communities we belong to and feel connected to.

Today, the status quo demands that for any business to survive, social media presence is extremely vital. The end game is not just having a social media presence, in fact, that’s the beginning. Curating quality content, social media optimization, making sure that you reach the most appropriate audience, and these are few pointers that must be considered if you intend to tap social media presence whether its B2B or B2C.

 

 B2B marketing is a type of marketing, where one business indulges in monetary transactions with another business. For instance, a company that manufactures electronic appliances taps a chain of restaurants for buying and utilizing their appliances.

One must consider the following points before getting started:

  • What is your goal and what are you looking to achieve?
  • Measure the outreach that are the key matrices you are using to track your goals?
  • Analyzing the results and key findings 
  • Redefining your strategy 

 

For any business to tap social media; the following steps must be taken care of:

  1. Most relevant type of social media for your business:

For analyzing your goal and deciding the course of action further, it’s equally important to understand the types of social media platforms available at your disposal. Having said that, today in the world of digitalization, social media platforms are quite readily and easily approachable, but the game is to select an appropriate medium that suits your nature of business. The social media platforms that are available and accepted majorly are: 

  • Facebook
  • Instagram 
  • Twitter 
  • Linkedin
  • Youtube 

 

  1. Tapping the right target group:

For any business to sustain or grow through social media, it’s highly important to tap the right target group. To make it reach the right audience will only lead to effective and efficient results. 

 

  1. Understanding the Market Persona and the competitors:

The trend that is hot in the market must be understood and strategies must be planned to acclimatize with the trends and scenarios, however, your plans and actions must differ from your competitors. Hence to understand the market persona and what does the competitor serves on the table is significant. 

 

  1. Build your Brand:

Building a brand, authenticity, and integrity towards the brand is quintessential. To connect to masses, one must speak through them and rope in the buyer’s faith in your brand. The best way to do this is through blogs, videos, testimonials, vlogs, etc.

 

  1. Curate engaging content:

Content that you curate for your social media assets, should surely be engaging your targeted group. Instance, if your target audience is rural, then the content you generate shouldn’t sound geek to them, it should be simple and easy for them to understand and involve themselves in it.

 

These are a few important steps for any B2B to keep in mind while tapping into the social media industry. This industry is booming in today’s business environment and helps you with the following advantages: 

  • Economical Medium 
  • Helps you connect with your customers 
  • Increases brand awareness and brand hammering
  • Generates leads and boosts your sales. 

 

Statistics have proved that more than three billion people around the globe are connected to social media platforms, and three billion is surely not a number meant to be ignored. Social media is not a passing trend, it’s here to stay.

 

Business to Business, via internet

Business to Business, via internet

In a world where the clicks on advertisements alone garner about $10.8 billion for Google, the customers are growing on their demands of more comfort and efficiency every day. They want it all at the tip of their fingers and for all we know, they are getting it. Premium digital experience from a perusal to purchase is no longer a matter of subscription. It’s as easy as it gets. However, as pretty as it sounds for a B2C scenario, it has become one of the biggest threats to the B2B companies presently.

According to a survey by Episerver, it was discovered that out of 700 decision-makers in B2B companies that discovered the top external threat for 84% of respondents to be increasing digital expectations from their customers or partners. Similar to a B2C characteristic, the business buyers now expect an effortless interaction and purchasing process as well. Considering there is no solid reason to hold up against the argument- ‘Why do we need the middleman?’, rising digital expectations are definitely a big threat to the B2B companies.

Going with the wind, the B2B companies are now investing for ‘Digital Experience Platforms‘ aka the DXPs by an alarming amount. The DXPs hold the kind of significance that they do because they take care of the one thing that B2B’s traditional methods simply won’t –the customer obsession.  A number of companies have begun restructuring their business practices to make them better in terms of digital experience, effortlessness and let them be customer-oriented. The rise of social media, websites, mobile devices, and digital channels has caused the B2B companies to loosen up their pockets a little bit more than usual.

There are ways of dealing with this altogether given that the companies understand the importance of selecting a DXP, whether they are ready for a deep transformation of their business practices, or are determined firmly on marketing and brand awareness, as these priorities are bound to reflect various strengths among the DXP vendors. In order to achieve better digital experience, your platform needs to be customer/partner-oriented in every possible way. It must be re-engineered by keeping in mind the expectations to be met and the potential threats that exist if it fails to deliver.

While is quite true that senior management does not have an impressive record when it comes to allotting funds for this, the numbers today also represent a significant upcoming change in this area with a majority of B2B companies’ investors being convinced to make more and more digital investments to safeguard the future of B2B sector.

There is no formula for achieving a great digital experience platform, nevertheless, it requires smart use of category heritage of a particular DXP along with a well constructed overall structure of digital market planning can certainly do the job for you.

 

If we were to work out a basic structure for the digital experience platform for B2B interaction, it must carry the following four points in its foundation:

  1. Segment your customers based on their needs.
  2. Provide a personalized customer experience. A humanized, automated digital experience goes beyond the purchase funnel and fulfills a good digital experience for the buyers.
  3. Provide an enriched and facilitated digital experience platform. The lesser the friction in a seamless buyer and seller interaction, the merrier the buyer-seller relations which would definitely result in a fairly huge amount of revenues.
  4. Have a customer-centered operation model. Only a handful of B2B companies use digital technologies to garner a better understanding of their customers’ business imperatives and objectives. But those that have improved the digital buying experience reap big returns.

From a broader perspective, superior digital experience abilities have the potential to transform the very basic, ground dynamics of B2B markets. It makes the communication for the buyer easier especially when one needs to convey their needs to the seller effectively. The companies that have adapted and provided premium digital experience in the last few years have witnessed a shift in the equation of buyer-seller interaction from being ‘seller driven’ to ‘buyer-driven’ and that has definitely proven to be fruitful in the long run.

A Few Things You Must Know About B2B Marketplaces

A Few Things You Must Know About B2B Marketplaces

 It all started with the advent of B2C marketplaces like eBay and Amazon, on which our life is extremely dependent these days. They have brought variety to what all you can buy with an additional benefit of delivery to your doorstep just the next day. This has given rise to a completely new marketplace where businesses sell to the other business.

B2B marketplaces have tremendous benefits and can give your business an edge over the competitors. This article digs into differences between B2C and B2B marketplaces, benefits of B2B marketplaces and insight into the world’s top marketplaces.

How B2B Marketplaces Differ from B2C Marketplaces?

Although both the marketplaces connect the sellers to the buyers, the basic difference is that B2B marketplaces connect two businesses while B2C marketplaces connect businesses to individuals. While both the platforms allow comparison of products and list of different sellers in one place, here is what makes B2B marketplaces different:

  • B2B marketplaces allow bulk orders while the number of items that can be bought B2C platforms is limited.
  • Quantity discounts are available.
  • Quotations and RFPs for orders can be confirmed online.
  • Pricing can be changed by the customer.
  • Pay through different methods including bank transfers and scheduled payments.

Benefits of Selling on B2B Marketplaces

B2B marketplaces are open to manufacturers and distributors alike. You may be looking to expand your sales channels or just distribute your products, you can tap into the benefits B2B marketplaces have to offer. Below listed are a few reasons why B2B marketplaces can be beneficial for you:

  1. Low Entry Cost

The entry-cost on these platforms is negligible. You don’t need your own e-commerce platform to sell your products. Also, you need not invest separately in marketing. B2B marketplaces take care of both. Without much upfront investment, you can have your products listed on these platforms.

 

  1. Hassle-free Setup

The setup is easy. You will not require to spend weeks or months to develop your storefront. All you need to do is develop your account and put your information to start selling. In no time you can get up and running on the B2B platform and your business will grow exponentially.

 

  1. Easy Access to the Audience

We consider this to be the most important benefit. Audiences make or break a business. B2B platforms already have an engaged audience who is searching for solutions. Therefore, you do not need to build your audience separately but just tap into the existing one. This significantly expands your reach and increases your customer base. They are also a great medium to test new products. You can plan and pick a product to see how it is performing and depending on the results, you can pull or push it further.

How to Choose the Best Marketplace for your Business?

There are ample of B2B marketplaces and you don’t know which to pick. Well, this is a tricky part but you can consider a few things before picking a platform to sell on.

  • Do your research and find out which are the popular platforms chosen by people of your industry.
  • Find out what technology they use.
  • Take a broader view of audiences and trends that govern the marketplaces.
  • Dig deeper into niche markets and how they get their needs fulfilled.
  • Lastly, consider the type of product you wish to sell and find out which medium is the best to make it reach to your target audience.

Leading B2B Marketplaces

While the web is flush with platforms that will fulfill your requirements, we talk about the three websites that are apparently the leaders in B2B marketplaces:

  1. com was launched in 1999 and is a Chinese company that currently serves millions of buyers and sellers across the world.
  2. Amazon Business is a B2B counterpart of Amazon.com and helps the professional sellers to reach business customers.
  3. eBay Business Supply was launched in 2016 and has a comprehensive range of products to offer to the buyers.