B2B eCommerce Marketing And Comparison With B2C
In this article, we’re going to be going over B2B sales. 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 are wholesale channels or distribution or reselling channels. You may have to sell to big organizations like schools or even school districts or nonprofits or large organizations like Microsoft or IBM that can take forever to sell into.
There are also higher price points. But when you’re going through this process, you’ll also find that most of it are done through salespeople. And it’s not as low touch as B2C hence the price points are higher as well. Since we’ve already covered how to market in B2C, I want to focus today’s lesson on B2B because there is commerce online 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 someone 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 meeting is 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 want to 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 step. First off, there’s a call preparation. This is where you receive a lead and a confirmation appointment. Right, it’s matched to you. You get a lead, someone’s interested in your product or service, and then you end up getting 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 afford your product or service? It’s not like B2C where everyone can just pay, you know, 10, $5, whatever it 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 if they are truly qualified. And you need to get to know their business and understand that if you can help with their problems. 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 the lead 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 been facing this problem? When are they looking to move forward on a solution? By understanding their problem, you can then tailor your sales pitch around what they’re looking for.
Budget For B2B
So some homework that you want to give them is a questionnaire that allows you to better understand their business. And that can be questions like, 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 understand if you can provide them the solution they’re looking for. And when do you get that?
Your next step is to schedule a call with them and the decision-maker, the keys decision-maker because you don’t want to be wasting your time with someone who can’t sign off on the deal within roughly seven days of getting the questionnaire. And the way you do this is on that call, you have a strategic plan. And that strategic plan, you want to demonstrate your business, the cost, your product, how it can help them solve the problem, how it’s going to make their life easier, save them time, ideally even save them money.
You can create that sense of urgency by wowing them. If you showcase studies, this helps a lot in B2B. You want to know what appeals to them and really understand because that’s how you’re going to be able to close a sale. A homework assignment for you as you want to send a recap 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 that presentation 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 any last-minute questions. You may have to redo parts of the pitch. If they are confused or they want 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 be giving them the plans, the deliverables, the executions, all of the stuff that they can put in a contract, or you can put it in a contract. And the homework assignment for you is try to get the deal closed and then break down onboarding, and then walking into your 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 that I like going to is LinkedIn. 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.
LinkedIn Sales Navigator
So when you get that data from the 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 HubSpot 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. Sometimes even longer if your price points are in the six figures or seven figures, so you need to be patient. And one way to really help build your relationship is to make sure your profile is filled out correctly.