B2B: Business to business.
Reference by Wikipedia: Business-to-business (B2B or, in some countries, BtoB) refers to a situation where one business makes a commercial transaction with another. This typically occurs when:
- A business is sourcing materials for their production process (e.g. a food manufacturer purchasing salt).
- A business needs the services of another for operational reasons (e.g. a food manufacturer employing an accountancy firm to audit their finances).
- A business re-sells goods and services produced by others (e.g. a retailerbuying the end product from the food manufacturer).
In Sales Ninja, we have a system specially designed to turnaround and transform sales teams by using hardcore push to the limits methodology known as the 3D methodology.
Design, Deliver and Drive
This methodology focuses on the area of success for sales people everywhere known as K.A.S.M.
Knowledge: The understanding of the product/ service/ company/ customer/ competition.
Activities: Prospecting (cold calling, networking), Follow-Up (hunting and farming)
- Presentation/ Solutioning
- Persuasion/ Differentiation
- Service/ Account Management
- Strong belief: Yourself, products, company.
- Result Driven
- Always improving
How does sales process work within B2B SALES/DIRECT SALES/ENTERPRISE SALES industry?
In Sales Ninja, we call this process M.A.S.T.E.R.
Meet People: This stage is setting up appointments, meeting the clients or networking. Making good first impressions and introducing the company as well as the products/ services. An essential phase to hunt (cold calls/ networking) and qualify prospects.
Ask Questions: Start by asking the right questions. Learn and understand the clients’ needs and see whether it can fit with the sales objectives.
Sell Benefits: Once you have learned that the client is seeking to buy what you are selling, you can start selling the features and benefit of your products/ services.
Tackle Objections: In this phase, clients will start bombarding you with questions/ objections on how it works, your product/ service, the company and even pricing. If they quiet, not a good sign so be aware of that.
Encourage to Buy: Getting the client to say YES. Giving the client a reason to choose YOU. In other words, CLOSING THE SALES!
Rapport Building: For future sales, maintain a good relationship with the client. Convenient also to cross sell and up sell any other products/ service.
So, what are the ISSUES faced by sales people in the B2B SALES/DIRECT SALES/ENTERPRISE SALES?
- Sales people not achieving targets
- Stop when achieving targets
- Easily quit
- Not aggressive
- Fearful of change
- Take short cuts
- Negative mindset
- Limiting beliefs of “can’t achieve”
- Influencing others with their negative mindsets
- Prospecting and creating opportunity over the phone and in person.
One of the biggest issues not prospecting enough, weak cold calling skills, not effective networking skills and ability to qualify the right person.
No structure of sales presentation, not persuasive, not engaging everyone in evaluation stage, can’t control objections, weak relationship building, don’t follow-up effectively.
- Negotiation and Closing.
Inability to tackle objections, discount too fast too soon, never sell value and differentiation, always ask boss for discount, weak negotiation skills, always giving in to procurement demands, low closing ratios.
- Key Account Management.
Not sure how to manage existing accounts, no strategy to grow accounts, no system to report status to management, unable to retain existing customers, never value add to existing accounts.
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