The ever-evolving B2B selling space, increasingly complex sales process, and changing buyer expectations present new challenges for B2B sales teams on a daily basis. At the same time, traditional sales processes are becoming less effective. In order to remain competitive and hit revenue goals, it is critical that sales reps understand the shifting landscape, why these changes are happening, and how to sell to the modern B2B buyer.
Here are five factors that influence B2B buyer behavior and steps you can take to more effectively sell to the 21st-century B2B buyer and drive bottom-line results.
#1: The Availability of Information
The availability of online content and the growth of social media have made B2B buyers more educated and informed about their options than ever before. And not only is information widely available, but it is also instantly accessible. Prospects are spending more time doing independent research and obtaining info from peers and other third party sources. According to an Accenture study, 94% of B2B buyers conduct online research at some point in the buying process.
As a result, prospects no longer have to engage with sales reps in order to obtain the most basic information about a company and its products / services. Prospects can search online and quickly find information such as reviews, feedback, pricing, technical information, and competitive comparisons. But prospects still need the sale rep to guide them through the increasingly complex sales process, build the business case, and offer value-add insights.
Solution: Offer Innovative Insights
B2B buyers look for vendors who understand their pain points and are knowledgeable about the industry. Sales reps should be subject matter experts in their field and should be able to convey that information to prospects in a clear and concise manner. They should also be able to provide perspective on the market and help the prospects interpret and apply this information to their own situation and challenges. Look to content enablement and sales training as approaches to make your reps experts who add value to prospects beyond online sources.
#2: Skeptical Prospects
The 21st-century buyer is increasingly cynical and critical of vendors. And they do not want to engage with reps who utilize a “one-size-fits-all strategy”. According toForrester, 59% of buyers prefer to do research online instead of interacting with a sales rep because the rep pushes a sales agenda rather than helps solve a problem.
Solution: Build Trust With Buyers
Research shows that the more trusted an individual is, the greater their sales effectiveness. One of the fastest ways for sales reps to build that trust is by focusing on helping their prospects rather than selling to them. Buyers don’t want to hear a sales pitch – they want to learn something. And while prospects can easily find information online, that doesn’t mean that they always understand it or know how to interpret and apply it to their own business situation. A LinkedIn survey found that B2B buyers are 5x more likely to engage with a sales professional who provides new insights about their business or industry.
About Canvass Consulting
Canvass Consulting is a turnkey sales agency for companies to engage on a short-term basis for new market sales feasibility studies. Our key service helps our clients generate revenue streams by executing sales efforts on their behalf in the local market and our strength lies in the ability to penetrate the market efficiently & effectively within a short period of time to provide our clients clarity on the market’s response to their products & services.
At Canvass Consulting, we are your local sales team that helps discover revenue potentials in new markets while reducing your risk, time, human resources & cost in your bid for expansions beyond your shores.
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