INVOX: 6 Key Factors for Success in B2B Sales
Few businesses thrive in the business-to-business (B2B) world without a solid sales team. However, the tactics of the “hard sell” can sometimes damage both your brand and bottom line. The team at Invox Finance would like to offer what our team sees as 6 key factors for success in B2B sales, based on our decades of cumulative experience helping SMEs.1. Build a relationship in which you listen to your customers, and anticipate their needs.Nothing is more important than listening to what your customers need — especially in the B2B world. This is an obvious step and while few would say they aren’t listening to their customer it’s not only about their immediate need for your service or product. You should also think about how their business operates and anticipate what more they will need from a provider like you in order to meet their goals.2. The key is to alleviate stress and uncertainty while minimising friction.The easier you make it for a potential client to say “yes”, the sooner they can become your client. As a B2B provider, your client’s biggest worry when deciding whether or not to work with you is whether or not the purchase will create value for their business. You (hopefully) know that your product or service can create value for your client’s business, so you need to work really hard to minimise that uncertainty in their mind and make it an easy decision for them to sign on the dotted line. Be proactive in your approach and outline how easy you can make things for them without them having to ask first.3. Let them pay after the value is realised.Clients will be more likely to take on the commitment of buying your good or service if they know they won’t have to pay upfront. Offering longer and flexible repayment terms is a great way to make your business more attractive to potential clients. Clients are often very suspicious of sales people and their grand claims, so why not let your product or service do the talking?4. When negotiating, nothing is better than a win-win scenario.Negotiations are all about saving face. No one wants to go back to their team with the terms of a deal which makes it seem like they lost their ground in the negotiating process. Always think about the proposition you’re making from the perspective of the purchaser. What part of this deal can they hold up and say, “I got us a good deal because X.”? If there’s no “winning” point for them, they won’t want to work with you.5. Provide extra valueI’ve often heard businesses say, “I’ll give you an offer you can’t refuse” which may sound sinister at first, but usually is followed by a freebie. Giving away your product or service for free (or part of it) is the best way to prove what you have to offer is good, because the client has nothing to lose by taking you on. This may cost you some money in outlay, but in the long term it will create value for your business as clients start to sign on after loving the service/product you gave them a free trial of. This method also creates value for your business in good will. For example a shirt that cost you $5 that you normally sell for $20, creates $15 more goodwill for your lead than it costs you!6. Close out the saleEven the best negotiations can stall when price enters the discussion. If deciding on a fair price is normally the part of the process where your sales fall apart, why not try an “if X then Y” proposition. This avoids circular discussions with no resolution, and eventually a breakdown. Use the tips from the points above, listen, evaluate and then offer value, but with finality. For example, “if we provide the first month for free, will you agree to become a client?”After years of listening to SMEs, Invox finance provides a service that allows you to utilise the above tips in a simple package through invoice financing (aka factoring). We minimise friction by helping you provide your leads with longer payment terms. We do this by advancing against your invoices. It’s a win-win situation as you’re paid right away, and your customer is given the time to realise value before paying. We can also help you provide extra value as we reward your customer with effective discounts on the invoice when they verify the invoice and again if they pay within the terms. Now you can close out a sale with, “If we move payment back so you can realise our value and provide you with a discount, would you agree to being our customer?”If you’re interested in easier B2B sales then email us at [email protected] and we’ll give you an offer you can’t refuse, your first invoice — fee free!Written by Adam Mezhvinsky COO and Co-Founder of Invox Finance 9 November 2018
Original article was created by: INVOX at medium.comDisclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency or ICO.
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