If the term B2B sales keeps popping up but you aren’t sure what it exactly means, you’re in in luck. Joseph Vessecchia is here to explain what B2B sales are and to give an insider’s view of the industry. After a successful career in software sales, Joseph Vessecchia has decided to shift his talents to focus on developing an online community to help others in the world of sales.
What Are B2B Sales?
First, it’s important to clarify that B2B is short for business to business. It refers to work done by one business for another. B2B companies sell products mainly to other businesses, rather than selling to general consumers.
There are two types of B2B sales. The first type includes products businesses need like office supplies, computer equipment or other everyday products. While these sales are similar to business to consumer sales, there are additional steps required during the sale process, including getting the approval of a department or company head. For B2B sales, more expensive products can take longer to finalize.
The second type of B2B sale includes selling products or components companies will use to produce their own products or complete their own work. For example, a leather retailor may sell its products to a furniture manufacturer who uses leather in its products. Because B2B sales undergo a longer closing process, there are usually more strategic tactics implemented to appeal to buyers and close deals. Joseph Vessecchia further states that a common B2B sale is the sale of raw materials that will be used in the manufacturing process.
How Are B2B Salespeople Successful?
Like business to consumer sales, there’s an art — and method — to business to business sales that starts with positioning your product as a solution to another company’s problem. Successful sales representatives are continuously challenging their customers to improve their business by presenting products, systems and methods that will make their business more efficient. Successful salespeople close B2B sales by offering information and ideas that can be implemented with their product to benefit the business. Joseph Vessecchia explains that a common B2B sales tactic is a value-added sales pitch which clearly defines how a product or service will be of benefit to the business, through cutting costs or increasing efficiencies.
B2B Sales Techniques
Other than the sales techniques offered above, there are many strategies used by B2B salespeople to close deals and sell their product to other businesses. But it’s first important to remember that most successful sales conversations are started with a referral rather than a cold call or email. Clients want to be able to trust the salespeople they are dealing with. While statistics show that cold calling isn’t effective, different strategies work differently for all salespeople. A rep with an outstanding cold call script may dominate B2B sales, while a rep who has success with referrals may fail with cold calls. Reports show B2B sales reps are utilizing modern methods to improve their sales, such as social media. This has allowed them to increase brand exposure and reach new clients in multiple ways. However, reps continue to use traditional methods by attending trade shows, networking events and producing leads through face-to-face interactions.
B2B sales continue to be prominent in many industries, with companies always looking for new technology to get a leg up on their competition.
For more information on Joseph Vessecchia: https://twitter.com/CVessecchia