B2B Sales Process

$ales.

Thats what business is ultimately about.

Sure they can be more: community, problem solving, social, value and more. Sales is the tip of this glacier. A business cannot survive without sales. This is the inevitable truth. They may talk about vision, mission, values, culture and what not, but without sales- how can a business organization survive?

Its basic. Like trade is basic. Barter or exchange is basic. Since the beginning of civilizations. Hence. Sales and Marketing are basic humanistic sciences.

However, a sale between huge organizations, or SMEs is more complicated than typical retail. Its not like your average B2C. Here there is not just a customer or consumer. Here its a huge organization. Be it gate keeper, influencer, user, buyer and decision maker. A complete business to business solution is not easy in larger organizations. Departments and teams are involved. Here simple consumer behavior is just not enough.

Its a complete process. B2B #sales process it is. It may require teams and months. Possibly a lot of paper work. Strong distribution and delivery mechanism. Definitely a much stronger client relationship. Maybe more discounts too. But always mutual benefit for the businesses involved.

There can be more or less, but to be accurate, its a step process. #B2BSales

1. Prospecting

This is the first basic step. Sometimes, there is a dedicated team too. That utilized at times, data analytics from social media, content, email or digital marketing campaigns. Or else a sales agent has to do his own research into the target market.

Here a MAD customer, client or decision maker has to be found. He has to qualify being MAD.

Question One: Does the client has the money to buy?

You cannot go after a company that doesnot posses the budget for buy your product. Its waste of efforts and decline in ROI. So obviously, customer should have some money and the buying power.

Similarly, the client or the end user, that you need to target should have the authority to buy for the company.

Example: You are sales manager, who wants to sell Air Conditiong, Elevators and your company' s mechanical services. You will approach the purchase manager of the client company. Preferable some one in top management. You cannot ask a receptionist at the client office to make the purchase. The company does have the finance to buy your product. It also has the desire and the need. But the receptionist does not posses the authority to make a B2B purchase in MNC.

Desire and the need is must. Generally, you cannot sell ACs in a company working in Antarctica, can you?

2. Pre- Approach

So, now you have found a prospect; who is actually MAD to buy your product or service. I mean you got a customer who has money, authority and desire for your product or service. This is where the real work begins. In prospecting or lead generation you may have a marketing team that gets you leads and contacts. For instance, you may get the lead by digital marketing campaigns like ads or inbound marketing from content that facilitates web traffic.

But the approach purely belongs to sales. You start with a bit of research about the company. The market and industry they serve. Their needs and their customers. How you can assist them to deliver their best value.

Furthermore, you may do some personal research on the end user, purchaser or any senior decision maker. To any point of contact. Look for mutual clients. Try to meet them at events or expos first. Try to search their professional history via #Linkedin.

This pre approach. This allows some insights and information to create a meaningful conversation with the prospective lead. Also, identify what is the best possible mode of communication to initiate contact.

Next is the approach.

3. Approach

After you have done some research on the lead. Now you may drop by an email. Or make a cold call. You may also use #Linkedin messaging. Fix an appointment. The meeting could be at your own office or the client's office or any decent eatery. Yes, this means that the first meet up may be a bit informal. And it may also be consider to be a part of pre approach, until you donot come to business terms and a presentation is set up. If the meeting goes well you may develop some client assurance and relationship. Alteast client will have your company and product awarness. Or you may just score a sale.$$$

4. Presentation

This does not necessarily mean a presentation ppt or a slide show. Unless your product requires it that way. For presentation simple brochure is also enough. It may just be a verbal communication of your service attributes and features. Or this can also be an on site or warehouse visit or simply a product demonstration and inspection.

The Question now is what is FEBA?

Well, be it any sort of presentation, you will eventually be discussing a product or service.

More importantly, you will be elaborating or illustrating product features and specifications. It should be also how will such product features benefit the end user. Talk about the You effect. Talk how your features will benefit the client and produce value.

Then, you just do not need to make claims. You need to back up with some proof and evidence. It could be a rating, certification, testing, inspection or testimonials.

Finally, show your competitive advantage against the competition. Why should the client prefer your offering over the competition?

5. Handling Objection

B2B process: Prospecting > Meeting > Presentation

Now the client throws questions at you. Bombards you with problems and queries. How you handle them is the challenge. How you solve clients problem- is the key. It's all now upon your expertise and product knowledge. And utilize your persuasion skills.

You may now have to restart with the presentation with different approach or you may have to deliver a creative solution and maybe a customized package. It will be like consultative solution selling from here on. How you fulfil client specifications and objectives. Provide them with a decent solution. If it is a project based sale. here maybe the project manager will takeover or the technical team will step in and your part is done. but lets say youre in technical sale like sales engineering, it will still be your job to satisfy the client, get the technical specifications on board and up to the mark.

You may also have to utilize third party alliances, consultants and other vendors to fulfil client project needs.

6. Negotiation

This is hardcore sales and persuasion challenge. From your side- your team may include a bidding or proposal specialist. Here multiple packages will be sent via a proposal. Some propositions would be accepted. while some would need to be re evaluated and altered for resending the proposal. Pricing and Discounts are the real tactics here.

Quotations can be sent to an fro. One both the parties reach an agreement, a purchase order could be mailed.

7. Closing

Closing is the process when you covert your leads to a sale from the negotiation process. In negotiations, maybe senior leadership could be involved. A senior sales manager, sales director and even CEO. This is a key metric and KPI for a sales team.

8. Followup

Ace sales specialist know that existing customers are like assets. Hence regular follow ups are the secret for long term business. These relationships are always fruitful, as customer retention is always easier than new customer acquisition.

An existing customer follow up, could just be warm calls. Maybe sending gifts or some promotional packages and discounts. It could complimentary after sales service. It could be invites to corporate events and dinners. Your existing customer can recommend you to new customers or recommend new clientele to you. They can also give you testimonials.

There is always a possibility with a cross sell or up sell. As your client trusts you and seeks your products. This client assurance is what a successful sales manager needs to grow.

Finally, the B2B sales process could be really long process when compared to retail and B2C sales. But it is also way more profitable. As the whole organzations and a whole group of people are involved; this increases complexity and profitability. So a great sales manager, not only knows the sales process, he knows that he has to have a decent sales pipeline and funnel them to sales. Even being the manager, the sales quotient inside him is always prospecting for more opportunities, then lead generation and finally sales conversion. A sales manager must have these basic expertise:

1. Superior Market Intelligence
2. Superb Communication Skills
3. Perfect Synergy for the team
4. People Championship
5. Quick Learning