Hello everyone, it’s EkTricks and today’s another day of eCommerce Revealed . And today we’re going tobe going over B2B sales. I know we’ve discussed B2C sales quite a bit, but there’s also a lot of room in B2B. See in B2B, peoplearen’t as Price Sensitive and they can pay an arm and a leg for your product or service.
When you think about B2C, people want lower price points, there are shorter sales cycles, fewer decision makers, right? People just go like on Amazon being like, “I want to go and buy this.” But in B2B, it’s a lot more different.
Sometimes there’s whole sale channels or distribution or reselling channels. You may have to sell to bigorganizations like schools or even school districts or non profits or large organizations like Microsoft or IBM that can take forever to sell into. There’s also higher price points. But when you’re goingthrough this process, you’ll also find that most of it is done through sales people. And it’s not as low touch as B2C hence the price points are higher as well.
Since we’ve already cover edhow to market in B2C, I want to focus today’s lesson on B2B because there is commerceonline in B2B as well. It’s not just B2C. So let’s first look at the general typical B2B sales process. It goes all the way from some one coming on your website to they’re interested in something, then they become a lead.
Then you end up having a call with them. This is what’s called a discovery call where they’re just learning, you’re learning, then if it’s a good fit,you have a strategic plan. This is a presentation where you go over your product, your solution, how it can help them.
And then your last meetingis the decision meeting. Now what’s not shown here is in B2B, there’s a lot of middle steps.
So you may have multiple phone calls. You may have a presentation with someone and then their boss may wantto see the presentation again. So you had to do it all over again or send them the recorded version, but let’s dive into each
First off, there’s a call preparation.
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This is where you receive a lead and a confirmation appointment. Right, it’s matched to you. You get a lead, someone’sinterested in your product or service, and then you end up setting a call with them.
You also have to check out that lead. Is it qualified?
Is it a website good? Is there a budget good. How big is their business? Do you think they can affordyour product or service? It’s not like B2C whereeveryone can just pay, you know, 10, $5, whateverit may be to buy from you. And sometimes you’re selling things that are 10,000, a hundred thousand. So the buyer market is much more limited. Hence you have to see ifthey are truly qualified.
And you need to get to know their business and understand that if youcan help with their problems. So some for home work for youor your sales reps is to, if the lead is junk or fake, cancel it. If it’s good, make sure you prepare and you want to go towards the next step. The next step would be a discovery call. You want to get to know thelead on a personal level.
What are their pain points?
Why are they interested in your product? What else have they tried? How long have they beenfacing this problem? When are they looking tomove forward on a solution. By understanding their problem, you can then tailor your sales pitch around what they’re looking for.
So some home work that you want to give them is a questionnaire that allows you to better understand their business. And that can be questionslike, what’s your budget?
What are you looking for?
When you’re looking to move? What are your ideal features? All these things. So that way you can understandif you can provide them the solution they’re looking for. And when do you get that? Your next step is toschedule a call with them and the decision maker,the keys decision maker, because you don’t wantto be wasting your time with someone who can’tsign off on the deal within roughly seven days ofgetting the questionnaire. And the way you do this is on that call, you have a strategic plan.
And that strategic plan, you want to demonstrateyour business, the cost, your product, how it canhelp them solve the problem, how it’s going to make theirlife easier, save them time, ideally even save them money.
You can create that senseof urgency by wowing them. If you show case studies,this helps a lot in B2B. You want to know what appeals to them and really understand because that’s how you’re goingto be able to close a sell. A home work assignment for you as you want to send arecap presentation to them, as well as everything that was discussed, as well as any unanswered questions.
And then you want to go over payment and pricing within thatpresentation as well. Of course, in B2B, bigger price point, not everyone buys right away. So then you’re going to have to follow up. Maybe you have a decision meeting where you go over anylast minute questions.
You may have to redo parts of the pitch.
If they are confused or theywant to go over anything. In other words, you want to identify and resolve any remaining unanswered questions or issues that they may have.
So think about everything as objections, and you want to answer those objections. You need to understand, you know, they need to understand what you’re going to begiving them the plans, the deliverables, the executions, all of the stuff that theycan put in a contract, or you can put it in a contract. And the home work assignment for you is try to get the deal closed and then break down onboarding, and then walking intoyour ecosystem or company.
Now that you know how to close B2B leads, let’s go over where you can find them. One of the best places thatI like going is LinkedIn. It’s not the sexiest social network, but hey, they have over 690 million users and it’s the best place for B2B. They have this tool called sales navigator that’ll help you a lot.
It’ll allow you to find the ideal people that you want to target from groups to industries, to interest, it breaks it all down. It’s a great feature. You should definitely check it out. So when you get thatdata from sales navigator and you find the ideal person, also look for the person’s job title. You want to get ideally a manager position or a director position or a VP position, because those are the people that can typically make decisions.
You can either import those leads into your CRM like Salesforce or Hub Spot, and then start contacting them. Or you can start reaching out to people on LinkedIn as well, which works well. In B2B, what you’ll find is relationships are everything. It can take you 90 to 120 days to close. Some times even longer if your price pointsare in the six figures or seven figures, soyou need to be patient. And one way to really help build your relationship is to make sure your profileis filled out correctly.
Good head shots, good bio, lot of texts, endorsements, recommendations, involvement in a lot of groups.You want to highlight projectsthat you’ve done well on. Like here’s examples ofmy profile with skills and endorsements and recommendations. It all really does help. And then of course you want to join active groups that are related to the industries that you’re going afterbecause by being active, you’ll also start getting inbound leads, and that’ll help. So one example that I wantto go over is knobs.co. It’s a great example.
So check them out and go to their website.
You can learn a lot from them. This is your chance to analyze someone who’s doing extremely well. So some action items for you. Go to EkTricks.com/training. If you already not there, click on eCommerce unlocked week three, lesson three, and I want you to download and track your leads withinthe B2B deal tracker worksheet, it’s XL file.
And of course, download your B2B script, modify it based on your products. It’ll help you step by step. Now next week, which is the last weekof eCommerce unlocked, I’m going to be going over, setting up ad campaigns on major channels, understanding metricslike cost of goods sold and ROI, and much much more.
I’m also going to give you step by step approach to what works on each platform. And of course, in depth casestudies for eCommerce as well. Thank you for listening. I look forward to helping yougenerate more eCommerce sales.