A Comprehensive Guide to B2B Sales

Let’s look at the five types of B2B sales between these parties.

Supply Chain-Manufacturers and raw materials

Selling raw materials or components to businesses that manufacture final products falls under this category. Batch process (FMCG and Pharmaceutical), continuous (Oil&Gas), and discrete (IT, Automotive) suppliers along the supply chain supply goods that ultimately form part of the final product, be it cocoa for a chocolate bar or seats for automobiles. These transactions often involve bulk quantities sold at a discounted rate to the buyer. It is common for businesses to establish ongoing relationships with reliable suppliers for regular restocking needs.

Example:

Intel makes computer hardware and software and supplies their micro-processors to Dell, Lenovo, and HP 

Supply Chain-Distributors/Wholesalers and Retailers

Distributor sales, also known as wholesalers, operate similarly to supplier sales. However, rather than trading in raw materials, distributors acquire finished retail products directly from the manufacturer.

The distributor/wholesaler usually buys directly from the manufacturer, holds inventory of the product, provides after-sale services, and resells the product to resellers and sometimes directly to end users. Because distributors generally take on marketing responsibilities for the product or the obligation to obtain regulatory or government approvals for product resale, the manufacturer-distributor relationship is often exclusive. 

A retailer is generally supported by a sophisticated logistics/supply network (2nd,3rd and 4th party) and typically concentrates on B2C selling through either online or 'bricks and mortar' stores.

Example Distributor: Texport supplies its flame-retardent fire suits to Hunter Apparel Solutions, which sells and maintains them for UK & Irish Fire services.

Example Retailer: HP sells its' laptops to Currys.

Intellectual Property Solutions and General Service Providers

Intellectual Property Solutions and General Service Providers sell services to other businesses. Depending on the service requirements, the seller may also sell or rent intellectual property in the form of software or provide services businesses have elected to outsource [accounting, legal, IT].

Example: HubSpot offers Software as a Service [SaaS] solutions, allowing companies to subscribe to tailored plans that provide efficient software tools for optimising their growth strategies.

Government agencies [State and Federal]  [Local and National] 

To meet the demands of their communities, government agencies and local councils must acquire various materials, from pens and paper for government facilities to raw materials for construction and maintenance. This type of transaction is commonly known as business-to-government [B2G] sales.

Example: Wylies Copier Supplies sells goods and services to the City of London Department of Commerce to service and maintain their copier fleet.

Charity and nonprofit organisation sales

Charities and nonprofit organisations heavily depend on donations and fundraising efforts, yet they also have essential purchasing needs. Like government agencies, these charitable entities require supplies and services to sustain their operations and fulfil their missions.

Example: Big Business Agency offers HubSpot CRM solutions tailored for NGOs, charities, social welfare organisations, and other nonprofit institutions. HubSpot can enhance donor relationships, streamline donation management and communications, and effectively track budgets, empowering these organisations to fulfil their missions efficiently and effectively.

What are the steps of the B2B sales process?

1. Prospecting: Research potential customers

 Create Lead Lists: Utilise various channels, including industry events, online platforms, and strategic partnerships, to compile a valuable list of leads. Investing in tools like LinkedIn Sales Navigator can save precious time and money for B2B sales teams of all sizes.

Utilise the Strength of Inbound Marketing: Engage and entice potential leads with impactful content delivered via email, social media, calls, and paid advertising.

Tap into Social Selling: Use social media platforms to connect, engage, and build relationships with potential customers. Data shows that those who put the most effort into social selling reap the biggest rewards. For example, 76% of top-performing sales reps ’always’ research their prospects before reaching out. And just like most other sales activities, you'll need a framework to be successful! 

Get the free VECE Social Selling framework which we use and recommend.

2. Qualifying: Identify interested customers

Deals that close have been systematically qualified.  Deals are lost because:

1) some key need or parameter for the decision [personal or business] wasn't identified, or

2) the internal budget process and gatekeepers were not mapped, or

3) Internal politics and how they shape the prospects' landscape weren't known.

Conduct IMPACT analysis [or similar methodology]:  Evaluate leads based on their Budget, Authority, Need, and Timeline at a minimum. Success comes from qualifying. [Check out 101 Sales Qualification Questions here]

Implement a Scoring System: Prioritise leads based on their engagement and fit with your offerings. Make sure your sales team understand the scoring criteria and apply it consistently. B2B Sales is renowned for troublesome  lead scoring systems and this is often because the behaviours that get scored don't correlate with intent to purchase. 

Making Initial Contact: Reach out to prospects to gather information and assess how your products and services solve their business needs. "Always be helping" - a  "helpful" mindset rather than a "sales" mindset will make it easier for you to connect with your prospect.

3. Discovery: Identify interested customers

Conduct Discovery Calls: Engage in in-depth conversations to understand the prospect's challenges, goals, and pain points.

Dive into Technical Assessment: Ensure that your solution aligns with the prospect's requirements by delving into the technical aspects.

Develop Customised Presentations: Showcase how your technology addresses the prospect's specific needs through personalised presentations. 

4. Solution Presentation/Demo

Provide Demonstrations: Illustrate the functionality and benefits of your technology through live demos or virtual walkthroughs.  Invest the time to demo exactly what solves the prospect's business needs.  This is one of two critical buying criteria [how me it working].

Share Use Case Presentations: Share case studies with ROI and success stories relevant to the prospect's industry or challenges. This is the second critical buying criterion [tell me who else is using it].

Address Concerns & Objections: Be prepared to address any objections or concerns raised during the presentation. Map out difficult questions and rehearse the answers—especially important when a virtual team is presenting.

5. Proposal: Craft an Offer and Negotiate with your Prospect

Create Customised Proposals: In detailed proposals, outline the proposed solution, pricing, and terms. Constantly relate price to investment and ROI to keep Value at the forefront of the prospect's decision-making process.

Developing Negotiation Strategies: Reach mutually beneficial agreements by developing effective negotiation strategies.

Collaborating on Contract Review: Work closely with legal as early in the process as possible to ensure that contracts meet both parties' expectations.

6. Closing:

Confirm the Decision: Understand the prospect's decision-making process and timeline to facilitate a smooth closing.

Employ Closing Techniques: Utilise effective closing techniques based on the prospect's buying signals.

Facilitate Contract Signing: Ensure a seamless process for signing contracts and agreements.

7. Post-Sale Engagement:

Collaborate on Onboarding: Work with the customer success team to ensure a seamless onboarding process.

Conduct Regular Check-ins: Address post-implementation issues and gather feedback through follow-up meetings.

Identify Upsell and Cross-sell Opportunities: Explore opportunities to upsell additional features or services.

8. Customer Retention and Advocacy:

Collect Customer Satisfaction Surveys: Continuously improve the customer experience by collecting feedback with industry standard surveys at least once a quarter.

Implement Referral Programs: Encourage satisfied customers to refer new business through referral programs.

Develop Renewal Strategies: Proactively secure renewals and expand relationships through strategic planning.

9. Sales Analytics and Review:

Track Metrics: Monitor key performance indicators [KPIs] to evaluate the success of the sales process.

Conduct Meetings with your Sales Team: Discuss wins, challenges, and areas for improvement with the sales team through regular reviews.

10. Continuously Learning, Monitoring and Adjusting:

It's important to adapt the sales process based on industry trends, competitor analysis, and feedback from the team and customers.

Free sales plan template

Crafting a strategic sales plan is key to navigating your business goals and achieving success. Explore your sales roadmap with our complimentary sales plan template today.

 

Get the template here

 

 

Forecast Accuracy

Forecast Accuracy is driven by two essential techniques: Qualification and Standardisation. As we mentioned Qualification above [IMPACT framework], let's look at how implementing Standardisation can improve forecast accuracy.

Why Standardisation is important in your sales pipeline

B2B Sales teams need a clear understanding of the specific pieces of information required before they can confidently move a deal forward to the next stage in the sales pipeline.  A shared understanding of what evidence is needed for a deal to progress through the pipeline simplifies sales management and increases forecast accuracy.
 
Without a standard view of what these essential pieces of information are, sales teams will interpret and, through best efforts, present an inconsistent pipeline. Imagine a scenario where one team member believes that customer budget is the most important factor to verify, while another team member focuses on the customer's decision-making process.

These [along with four others] are all critical data points to qualify a deal and its correct place in the pipeline. Only with a shared understanding of precisely what each of these six data elements is, can the timing of each deal be correctly judged. Similarly, revenue projections can only be accurate if there is a consensus on the essential information needed for each stage of the sales process.
 

Pipeline Management and Forecasting are not the same

The primary objectives of effective pipeline management encompass establishing a robust pipeline and securing more deals to make quota. Studies indicate that companies commonly evaluate pipeline vitality based on its size, structure, and composition. Achieving deal closures often hinges on targeted coaching tailored to individual opportunities. Thus, if you are assessing the overall health of your sales pipeline or guiding your sales representatives towards closing deals, you are likely on the right track.

The primary objective of forecasting is to make precise predictions about future performance. As you get deep into the realm of forecasting, you rely on three key assumptions: the deal size, the probability of winning the deal, and the anticipated closing date.

For instance, when you communicate, "there is a 25% chance that this £50,000 deal will close next quarter," you are engaging in forecasting. By leveraging these assumptions, you estimate when your revenue will materialise. While accurate forecasting won't directly impact your likelihood of winning a deal or the health of your pipeline, it will enhance the precision of your predictions, ultimately advancing the goal of forecasting.

B2B Sales Strategies

Whether you’re selling IT Services to Government Clients or CRM Solutions to startups, or small businesses  it’s important to have a sales strategy to guide you through the process.

Establishing a B2B sales strategy lays the groundwork for reaching your business objectives by mapping out a definitive course of action. Given that every business has its distinct sales goals, strategies can differ. To embark on your sales expedition, here are key B2B sales strategies to steer you in the right direction.

• Align sales and support teams.
• Align your sales process to the buyer's journey
• Utilise social selling
• Utilise multi-threading
• Focus on solutions and benefits
• Provide sales teams with the right tools. The best options are all-in-one platforms, which will eliminate swivel-chair integrations and provide a single source of truth for customer interactions

Download a free copy of our information-packed Social Selling Guide and get up to speed on the latest strategies for social selling. Learn how to put Social Selling at the heart of your sales process for accelerated sales results.

 

 

 

B2B Sales Training

Product training is not the same as sales training. You need to invest in both to have a top-performing sales team.

Today’s B2B buyers are savvier, more informed, and have access to several options at their fingertips. What makes it more complicated is that 90% of buyers don’t follow a linear sales funnel path, leaving sales reps little to no room for mistakes.

This makes B2B sales training more important than ever. A well-designed training programme will empower sales reps with the knowledge they need to deliver value and close more deals. Let's take a look at what you need to consider when you're thinking about Sales Training

 

1. Needs Assessment

Begin every training program with a thorough needs assessment. Evaluate the sales team's existing skills, pinpoint areas for enhancement, and align the training with your business objectives. This critical step guarantees that the training is tailored, pertinent, and impactful.

2. Customise Content

Customise the sales training modules to meet the specific needs identified. Develop modules that encompass industry-specific knowledge, practical sales scenarios, comprehensive product understanding, and essential sales and soft skills.

3. Select Training Methods and Materials

Selecting the right training methods and resources is vital to captivate your team. This entails discovering the perfect blend of face-to-face, hybrid, or virtual sales training tailored to your team's locations and preferred learning styles. Integrate interactive activities and practical materials such as role-playing and case studies to enhance the learning journey.

4. Integrate Sales Methodology into Training

Ensure your training programme integrates your sales methodology. Whether Inbound, SPIN, Sandler or something else, make it a focus area. Offer materials and exercises that reflect the methodology’s sales strategies and principles so sales reps can apply the techniques in real-world scenarios. For a comprehensive review of the Top 12 B2B Sales Methodologies, you can read our recent blog article.

5. Monitor and Evaluate

Set clear metrics and KPIs to track the success of your sales training program and consistently collect feedback from participants for ongoing enhancements. This method will evaluate the training's influence on B2B sales performance and guarantee it provides concrete business advantages.

 

The elephant in the [training] room 

Regrettably, a staggering 87% of the training provided to sales trainees through conventional learning management systems is forgotten within just a month. Given this challenge, how can you ensure that your B2B sales training program effectively equips your team for success? Let's delve into best practices that can enhance the impact of your sales training. 

• Sales Training is aligned with the business. For example, sales training courses may focus on aggressive selling techniques, which conflicts with a company’s goal of long-term customer relationships. 
• Individual learning styles are considered. Avoid overlooking the diverse learning preferences of your team with a tailored approach to training. Incorporate interactive workshops for hands-on learners, visual presentations for visual learners, and podcasts to cater to individual learning styles effectively.
• Ineffective delivery methods: Conventional lecture-style training approaches can often fall short in terms of engagement and retention. Incorporate interactive gamified learning methods where sales representatives can earn points and rewards for successfully completing training tasks, transforming the learning experience into an interactive and enjoyable journey.
  

TOP TIP: Discover the wealth of knowledge available at HubSpot Academy, which offers self-paced sales and marketing training covering a diverse range of topics. Stay ahead of the curve with training and insights into the newest trends in digital marketing, sales strategies, customer support, and CRM innovations. Best of all, get access to these resources at no cost and earn certifications along the way.

For further information visit HubSpot Academy.

How HubSpot can elevate your Sales 

B2B sales can be challenging, but with the right tools and processes, it can be a lot easier for your sales team and more enjoyable for your customers.

HubSpot makes leaning into AI and Automation easy. The HubSpot Customer Growth Platform has AI built in giving you productivity gains with AI content assistants helping with email, webpages and blogs, Chatbots for live help, Predictive Deal Health Scoring and AI assisted reports and much much more... pair this with workflows and the difference in your processes is significant.

With HubSpot Sales Hub, you get a unified platform with everything you need—a dedicated prospecting workspace, automated lead follow-up, sequences, email, email tracking, calling, meeting scheduler, sales snippets, quotes, payment links, and collaboration tools—all in one place. 

The set-up is fast, and unlike other sales-focused CRMs, it's easy to learn and use, which makes user adoption a walk in the park!