If your company is struggling to find high-quality leads, or converting these leads into sales, the problem could be that you don’t have a solid B2B sales process.
Whenever I’m doing a B2B sales consult, I always like to start with the bottom of the sales funnel.
So for example, I know Perry Marshall says in his book, 80/20 Sales and Marketing that when he starts consults, the first B2B sales process to improve is: How can you increase the lifetime value of your current customers…
Meaning we’re not sitting here saying… “Okay, let’s go figure out how to find 10,000 people that we can reach out to.”
That’s not the right way to revamp your sales process.
This article will include some of our own personal B2B sales process tips, as well as the usual sales strategy you should consider for more new leads that convert.
First, increase value for the clients you already have.
At Salesbread we start off first by asking ourselves: How can we increase value for the clients we already have?
A lot of times that is asking yourself:
- How can you provide an even better service?
- What can you provide on top of your existing services to upsell current customers?
- How can you help your existing clients have a much better experience?
So take it one step backwards.
Ask yourself: How can you increase your close rate for the sales calls you’re already getting?
That’s the next step you should optimize.
Notice that we’re still starting at the bottom of the funnel working our way back.
Because if you can just improve these numbers a little bit you’re going to see short-term ROI very, very easily.
So we encourage you to analyze and ask yourself:
- Why aren’t you winning more deals?
- What can you do to close more sales-qualified leads?
- Can your offer be improved?
- Can you add a guarantee?
- Can you offer a trial?
What can you do to get more sales calls to convert?
And a lot of times this conversation then switches to an outbound B2B sales process.
But you might not be ready yet for an outbound process. This could be because you don’t have an in-house sales representative, or perhaps you’re a startup and can’t partner up with a lead generation agency just yet.
Instead, start off by thinking about how you could get more of your inbound leads, your marketing-qualified leads, to book a call with you.
Why?
Because there’s a very good chance you have an email newsletter list or maybe a certain number of organic visits to your site.
Maybe it’s connections that you have on Linkedin or other social media channels that you aren’t taking advantage of.
One example to do this is to send a personalized connection request message on Linkedin to people who are already on your email newsletter (who are already an MQL) because the chances are that they will very likely accept your message.
They know you, they’re on your newsletter, and they trust you already on some level.
The reason why we suggest reaching out to a prospect on LinkedIn is because it might be easier to hop on a sales call with them if you send them an ultra-personalized message.
Spend some time thinking about how you can get more of your MQLs to become sales-qualified leads.
And when it’s the right time explore B2B sales processes around LinkedIn outreach, cold email, cold calling and partnership campaigns.
This means connecting with people who can refer you business.
Do you have a good referral campaign in place?
If not, you should create one.
Why?
Because this is the “low-hanging fruit” of your B2B sales process, so to speak.
Do this first, and then you can worry about the rest of your B2B sales strategy.
And then once you get to the stage where it’s time to turn cold prospects into warm sales/ qualified leads, nothing is more effective than LinkedIn outreach at the moment compared to cold calling or cold emailing, in our opinion.
If you are interested in a LinkedIn lead generation strategy that will bring you qualified sales leads – Read this article: Why We Set Out to Build The Best Done-For-You Lead Generation Service
In it, we share our LinkedIn lead generation strategy, which guarantees 1 qualified sales lead per day, as well as some of our stats and results.
Now that we have discussed our approach, we can discuss a basic B2B sales process that will encompass various stages of the sales cycle, from lead generation to nurturing customer relationships.
What is a B2B sales process exactly and why is it important?
Basically, a business sales strategy informs your process. This sales process consists of steps that your sales team will follow to sell your product/service.
This process needs to be in place to complete your sales cycle. Moving your ideal customers through the sales funnel to eventually buy from you.
Each person on your sales team should know what they need to do in each step of the sales process to move your prospect to the end goal.
If you have a plan in place it makes it so much easier to execute your strategy. Everyone on the team knows exactly what they need to do in order to complete the B2B sales cycle and close the deal.
Besides this, a sales process allows you to analyze what went wrong, where it went wrong and how to fix issues that your sales reps might be facing at each stage of the funnel.
An example is that maybe you have an excellent list builder and prospector on your team, but those in charge of “pitching” might be pushing the sale too hard, which could in turn lead to fewer conversions, because no one likes a sleazy sales pitch.
When you see patterns emerging it will be easier for you as the sales manager or founder to know where to help your team.
1. Prospecting
The B2B sales process begins with prospecting. This is where your business or salespersons will identify potential buyers or leads. This stage often involves market research, lead generation, and building a list of potential customers.
At Salesbread we obsess about list building. The reason for this is that it allows us to go after the right prospects. We analyze current buying data of clients who have purchased your service/product.
For example, ask yourself:
WHO has been buying from me? What do all my buyers have in common?
- Do they use the same automation tools?
- Which industry are they in? Saas? Tech? Health and wellness?
- Are they b2b companies or b2c?
- Who is the decision maker? The CEO? Manager? CFO? VP of sales?
- Are they all based in the same location?
Once you start noticing buying patterns, it makes it so much easier to build look-alike lists and target individuals who will convert to a sale.
You can read more about how to build an ultra-refined prospecting list here.
2. Qualification
Not every prospect is a valuable lead. Many of our clients have worked with other agencies in the past, and often they will mention how they had a ton of prospects but hardly any converted (hence why we obsess about list building,)
But, the qualification stage involves assessing leads to determine if they align with your ideal customer profile and have a genuine interest in your product or service.
Qualifying leads saves time and resources, allowing you to focus on those most likely to convert.
3. Research/Needs Analysis
Understanding the pain points of your prospects will allow you to engage in meaningful conversations and not just sleazy sales pitches.
If you can fully understand their pain points it will make it easier to sell your product because you will be shifting your mindset from “selling” to “how can I actually help this person?”.
When sales professionals engage in conversations with potential clients it helps them uncover their lead’s challenges, goals, and objectives.
4. “The Pitch” (Minus the sleaze)
Remember, you don’t want to come across as a sleazy salesperson.
Once you understand your prospect’s needs and pain points, you can then craft a LinkedIn outreach message, cold email or call script that has been tailored to that specific prospect.
Think about how your product/service could solve your b2b buyers‘ bleeding neck problem?
What can you say to help convince a total stranger that they really need what you’re selling?
Effective communication and a compelling value proposition are key in this stage.
5. Objections
Think about any objections that your prospects might have and think about how you would handle these objections.
Perhaps they might mention that your product is more costly than the current tool they are using; What would your salespeople say to help the decision-making process easier for your potential buyer?
Here are some common objections to consider:
Price Objection:
Emphasize the value of the product or service. Provide a cost-benefit analysis to show that the benefits outweigh the cost. Offer flexible payment options or discounts for early commitments. You could even offer a free trial.
Timing Objection:
Understand the prospect’s timeline and reasons for their delay. You could in a tactful way highlight the consequences of not acting promptly, such as missed opportunities or increased costs. Another option is to offer incentives for quicker decisions.
Competitor Objection:
Differentiate your product or service by showcasing unique features, benefits, or success stories. You could then also address any misconceptions about competitors and provide a clear comparison.
Trust and Credibility Objection:
It’s also important to share customer testimonials, case studies, and reviews to establish trust. You might want to highlight your company’s experience, certifications, and industry recognition.
Or if you have helped “big name” companies, you could mention these as well. Another option is to offer a trial or money-back guarantee.
Risk Objection:
Acknowledge the prospect’s concerns and provide reassurances. Offer a pilot program, free trial, or satisfaction guarantee to minimize risk. You could also share success stories from similar clients.
Lack of Understanding Objection:
Provide clear and concise explanations. You might want to use visual aids, demonstrations, or educational content to simplify complex concepts. Always encourage questions and offer additional resources.
Budget Objection:
Explore the prospect’s budget constraints and priorities. Offer scalable solutions or phased implementation to fit within their budget. Highlight potential cost savings or ROI.
6. Closing
Closing a B2B deal is often a more intricate process than business-to-consumer.
Negotiations can be lengthy, involving contracts, legal reviews, and discussions with multiple stakeholders.
Sales teams must navigate these complexities to secure the agreement, and this might take time. You might need to convince your target audience to make a purchasing decision with social proof, metrics and case studies.
7. Follow-up and Customer Relationship Management (CRM)
As we mentioned at the outset of this article it’s so important to increase the value for the clients you already have. Once you have made the sale, your relationship with your customer shouldn’t end; It should evolve.
Successful B2B sales professionals prioritize follow-ups to ensure client satisfaction.
You could even invest in Customer Relationship Management (CRM) systems because they can help your team manage ongoing customer relationships, address their concerns, and identify opportunities for upselling your product.
You might even end up with some referrals if you offer an excellent service.
If you want more closed deals, implement a sales process.
A B2B sales process is a map that should be followed by each team member.
When each person on your team knows exactly what they need to do, and which strategy to follow, it will help improve customer experience, boost sales performance and streamline workflow.
If you need help with your sales strategy and would like 1 qualified sales lead per day, hop on a free 15-minute strategy call with Salesbread.
We have the know-how after being in business for over a decade; Read our b2b sales process here.
