The B2B sales have considerably changed in recent time. The sales process was always complicated, but now it has become a major challenge to reach certain sales volumes even for the most experienced professionals. So, how can you increase B2B sales considering the challenges of doing business?
The b2b sales growth strategies combine increasing sales, attracting b2b customers, and retaining existing ones. It costs more to attract new b2b customers compared to retaining existing ones. But the new ones grow the company and increase brand awareness. And loyal customers provide great opportunities to promote new products. The probability of selling a new product to a loyal customer is about 70% higher compared to a new customer.
Sales strategy for b2b business
We have 6 tips to develop a b2b sales growth strategy and additionally attract customers in the B2B e-commerce segment.
1. Ideal Customer Profile
It is important to understand customers’ goals and objectives, expectations, and product requirements in B2B online sales. You should define for ICP such criteria, as industries, company revenue, business goals, major problems, etc. The more accurately these criteria for ICP are defined, the easier designing sales strategy for b2b businesses to find and engage customers will be.
2. Activities to retain regular customers
According to Harvard Business School, just 5% extra effort to retain regular customers will increase a company’s sales and profits by 25-95%. The value of these customers is you know them better. You just need to create their profile based on Net Promoter Score (NPS) and Customer Lifetime Value (CLV). Regular monitoring and analysis of loyal customer activities and purchases and researching their needs within company b2b sales strategy help to prevent customer churn.
Personalization is extremely important in sales strategy for b2b business. Personalizing cooperation with b2b customers implies a uniform, but individual, approach.
Use the features of the b2b platform, special algorithms, and machine learning to process and analyze customer data. Based on their preferences, activity, browser history, you can create personalized content, offer the best products at the best moment. In this way, you can show your customers that they’ve made the right decision by starting a partnership with you.
4. Support of b2b clients
Regular customers always appreciate excellent service and support. By spreading the word about your services, they will attract new b2b customers. To solve problems, answer questions, and show the benefits of the product, use any channel allowing you to get in touch immediately — online chats, chatbots, email, phone, and interactive website support.
5. Customer confidence
Transparent and open cooperation with regular and potential customers helps to build their confidence and improve your b2b sales strategy. How to achieve that? Post positive product reviews, prevent overselling, meet the promised delivery date, and offer transparent information. Respond to negative feedbacks and appreciate the positive ones, be extremely careful to protect user data, and strive to give a positive experience.
Good motivation and incentives within b2b sales strategy positively affect the probability of purchase. The motivation can be the opportunity to test products, startup discounts, free shipping, installation, setup, product demonstration, encouragement for disseminating information in social networks, repeat purchase, positive feedback on the site.
You should be proactive to increase your B2B sales. Search for new and creative ways to get more leads, keep experimenting with your B2B sales strategies to find the best one and get results. Use modern business process automation tools to develop your B2B sales strategy. Learn more on the AGORA company website.