Business to business or B2B sales is a challenging task in comparison to business to consumers or B2C selling process. The sales cycles are longer in B2B but the deals carry high dollar values. B2B is a high-stakes sales game, which needs a totally different approach than B2C sales.
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B2B software selling process, when done right has the potential to be extremely profitable and recompensing to the salesperson. A B2B salesperson needs to develop a workable sales process for prospects, business, and overall goals.
What does an effective B2B sales process look like?
Perform market research
Understand the existing demand status in addition to identify competitors and their strategies along with the other sources your prospects are listening to.
Define a perfect buyer’s persona
Determining the buyer’s persona will help to create solid marketing campaigns. Consider –
- What do your prospects offer and look for contextual data about their business growth?
- Have they currently launched a new product line?
- Did they have any leadership changes in the past 5 to 6 months?
Such information will help to determine if the prospects are prepared to invest in the software solution you are offering.
Map buyer’s journey
You defined your ideal buyer and how your software solution will help them. Now, map a buyer’s journey using the following aspects. Prospects go through the following phases while buying –
- Awareness – Realizes they have issues that need a solution.
- Consideration – Buyer decides how to resolve the issue and researches different products.
- Decision – Buyer compares available options to decide which to purchase.
A skilled salesperson is well aware of the buyer’s status in the sales process. It empowers them to strategize and align with them in the buyer’s journey.
Qualified leads mean it is time for a direct sales pitch. Every interested listener will not transform into a qualified lead. In B2B, there are several stakeholders involved in deal closure. You will need to handle several contact points, so find out who contributes to making a final decision, how much is the budget and how to present a convincing presentation.
If the customers need and offered solution is in synch, then attempt to interact in person. When you meet in person to resolve customer questions and address concerns there is a build of trust, which is unable to establish via email or phone call.
Close the deal
When the buyer’s journey is about to reach closure, the task is still incomplete. It is time to draw a written contract outlining payment terms for the software. Besides, you will need to coordinate with your software developing company to discuss customer onboarding. In case, there is still some hesitation in the minds of the prospect you will need some more meetings to convince. In case, the prospect says ‘not now’ then thank them for their time as well as offer them support anytime they need it in the future.