B2B Sales – Definition, Technique and Steps
B2b sales are one of the tools for making a profit. The abbreviation stands for business-to-business, which means the conclusion of a deal between companies. In b2b sales, the final consumer is not the client as an individual, but a legally registered company.
To succeed in b2b sales, the work of managers and leaders is adapted to the characteristics of this type of deal making.
b2b sales technique
There is a common belief among managers that a talented manager is capable of operating at peak performance in any organization. Obviously, these executives never tried to switch from one type of trade to another. The conclusion of transactions with representatives of companies has a number of differences:
Purpose of the purchase
The consumer makes a purchase for pleasure. The buyer gives money for a product that he uses on his own, or gives. Thus, his desire is already formed on the basis of advertising or feedback from friends. B2B sales technology involves negotiating with representatives of companies that invest money to earn even more. Their motivation is significantly different from consumer.
Relationship between merchant and buyer
When choosing a product in a store, the buyer will not give preference to one of the positions because he personally knows the owner of the brand. In this case, the choice is made on the basis of spontaneous emotions, superiority in price, or advertising achievements of the brand. A b2b sales strategy requires networking among company representatives who might be interested in the product. Thanks to friendly relations and positive experience of working together, there is a high probability of a repeat transaction.
Unlike potential buyers, the number of firms that could be interested in the organization’s products is not so large. The usual types of advertising and word of mouth in these conditions do not bring profit. The best result can be achieved is to introduce the manager of your company into a potential client company. The employee will work with potential clients and bring negotiations to the stage of concluding a contract.
Choosing one of the many proposals, an individual is guided by his own emotions. He may be attracted to color, packaging or bright advertising. For corporate sales, these marketing tools are absolutely useless: a representative of an organization is unlikely to give preference to a product just because it is made in a beautiful color. The manager will have to prove that the company’s products combine good value for money.
Thus, the b2b sales technique requires special attention to two points:
- the ability to increase the income of another enterprise by acquiring a product or service;
- the ability of managers to work with representatives of large companies.
Stages of b2b sales
As in other types of trading, it is important to systematize the path from finding a new client to closing a deal. Managers work according to the plan, in which each step is determined by the needs of the customer.
Search for new b2b sales channels
A legal entity becomes a consumer of products in the b2b sales scheme. You should look for them among:
- industrial enterprises – if the company specializes in the production of equipment or spare parts;
- institutional formations – hospitals, educational institutions, municipal enterprises. If the company’s products are low-priced, this group of consumers will probably be interested in it;
- retailers – in order to interest this part of consumers, you will have to provide both a low price and decent quality. In this case, the goods are purchased for direct resale.
The introduction of the manager of the firm in the company of a potential client
When the manager manages to identify potential customers, it is necessary to introduce them to the company’s products. The merchant conducts negotiations, discusses the conditions and concludes a contract with a representative of the organization.
Maintaining relationships with regular customers
Having a permanent customer base is useful both in the case of trading with individuals and legal entities. In order for representatives of the organization to turn to the services of the company again, you can offer them:
- functional discount – for the rapid implementation of the volume of products;
- discount for bulk purchase;
- discount for merit – in the event that cooperation continues for a long time;
- seasonal discount.
Work in the field of b2b sales requires diligence and desire to work from a manager who negotiates with company representatives. In this type of business, a positive transaction experience, the reputation of the organization and the reliability of the product are important.