How To Be Successful At B2B Selling (B2B Sales Secrets)

Summary

The speaker shares insights on transitioning from B2C to B2B sales, emphasizing the importance of patience due to the longer sales cycle and hierarchical structure in B2B. They highlight the need for value-based selling, where knowledge sharing and education are key to engaging potential clients. Additionally, the role of networking and referrals is underscored as a crucial strategy for gaining access to decision-makers, bypassing the typical barriers in B2B environments. The summary encourages further learning for mastering B2B sales techniques.

Takeaways

• 🕒 Patience is Key: B2B sales require more time and multiple meetings, unlike the quicker B2C sales cycle.
• 🏢 Hierarchical Structure: B2B deals involve navigating through company hierarchies, including boards and bosses, which can extend the sales process.
• 🤝 Value-Based Selling: B2B buyers are interested in knowledge and insights, so providing value through education and inspiration is crucial.
• 🔑 Trust Building: Establishing trust is essential in B2B, often starting with knowing the right people and leveraging introductions.
• 🚫 Avoid Aggressive Closing: In B2B, don't rush to close deals immediately; focus on building relationships and understanding the client's needs.
• 🔄 Adaptability: Transitioning from B2C to B2B requires adapting sales techniques to suit the longer, more structured sales cycles.
• 📈 Market Insights: Offer market insights and competitor analysis to add value and differentiate your offerings in the B2B space.
• 🤔 Educate the Buyer: B2B sales involve educating buyers about products or services they may not be fully aware of.
• 🔄 Networking Importance: Your network can provide shortcuts to the right people in B2B, bypassing potential gatekeepers.
• 📚 Skill Enhancement: To succeed in B2B, you need to enhance your skills to effectively engage in value-based selling and provide market insights.

Q & A

What is the main challenge for someone transitioning from B2C to B2B sales?

The main challenge is adjusting to the longer sales cycles and more complex decision-making processes in B2B, where deals often require multiple meetings and approvals from various hierarchical levels.

Why can't B2B salespeople always be closing deals like in B2C?

In B2B, deals take more time due to the need for multiple meetings and the involvement of various stakeholders within the organization. It's important to focus on the next step rather than closing the deal immediately.

What is the significance of hierarchy in B2B sales?

Hierarchical structures are fundamental in B2B sales, as decisions often require approval from multiple levels, including boards and higher management. This affects the length and complexity of the sales process.

How does value-based selling differ between B2C and B2B?

In B2B, value-based selling involves offering knowledge and insights that the client may not be aware of, educating or inspiring them, which is less common in B2C where the focus is often more on immediate transactions.

Why is it important for B2B salespeople to educate their clients?

Educating clients helps build trust and credibility, showing that the salesperson is not just interested in making a sale but also in providing valuable information and insights that can benefit the client's business.

What role does networking play in B2B sales success?

Networking is crucial in B2B sales as it can provide introductions to key decision-makers, bypassing potential gatekeepers and facilitating quicker access to the right people within an organization.

How can a salesperson leverage their network in B2B sales?

By using introductions from existing contacts, a salesperson can gain a shortcut to the right person in an organization, which can significantly speed up the sales process and increase the chances of success.

What is the difference between approaching a client in B2C versus B2B?

In B2C, salespeople can be more direct and forceful, while in B2B, they need to navigate through gatekeepers and departments, requiring a more strategic and patient approach.

Why should B2C salespeople 'calm down' when moving to B2B?

They should 'calm down' because B2B sales require a more patient and strategic approach, with an understanding that immediate closures are less common and the sales process is typically longer and more complex.

What are some key skills a B2C salesperson needs to develop for B2B sales?

Key skills include patience, strategic thinking, value-based selling, knowledge sharing, and effective networking to build trust and gain access to decision-makers.

How can subscribing to a channel help someone succeed in B2B sales?

Subscribing to a channel can provide ongoing education and insights into B2B sales strategies, techniques, and best practices, helping to continually improve and adapt to the B2B sales environment.

Outlines

00:00

📈 Transitioning from B2C to B2B Sales

The speaker shares advice for a friend who is a successful B2C insurance seller looking to transition into B2B sales. The first key point is the difference in deal closure timelines, emphasizing patience and the multi-step nature of B2B sales. The second point discusses the hierarchical structure of B2B, where decisions often involve multiple levels of approval, which can lengthen the sales process. Thirdly, the importance of value-based selling is highlighted, where providing knowledge and insights is crucial to engage B2B clients. Lastly, the speaker stresses the significance of networking and referrals in B2B, as they can provide shortcuts to decision-makers, bypassing potential gatekeepers. The speaker also encourages subscribing to their channel for more in-depth B2B sales strategies.

Keywords

💡B2C Sales

B2C, or Business-to-Consumer sales, involves transactions between a business and individual consumers. The script discusses the contrast between B2C and B2B sales, highlighting that B2C sales are often more direct and quicker to close. The friend in the script is a superstar in B2C sales, which implies a focus on individual customers rather than other businesses.

💡B2B Sales

B2B, or Business-to-Business sales, refers to transactions between two businesses. The video script emphasizes the need to adapt sales techniques when moving from B2C to B2B, where deals are larger and involve more stakeholders, making the sales process more complex and time-consuming.

💡Hierarchy

Hierarchy in the context of B2B sales refers to the structured levels of authority within an organization. The script mentions that B2B sales require navigating through various levels of hierarchy, which can include multiple meetings and approvals, unlike the more direct B2C sales approach.

💡Closing the Deal

Closing the deal is the final stage of the sales process where the sale is completed. The script advises against being overly eager to close the deal in B2B sales, as it often requires a longer process involving multiple stakeholders and meetings.

💡Value-Based Selling

Value-based selling is a sales approach that focuses on the value a product or service brings to the customer. The script highlights the importance of this approach in B2B sales, where potential customers are interested in gaining knowledge and insights that they might not already possess.

💡Knowledge Sharing

Knowledge sharing is the act of imparting information or expertise. In the script, it is suggested that in B2B sales, sharing knowledge can help educate and inspire potential clients, thus adding value and building trust, which is crucial for successful sales.

💡Trust Building

Trust building is the process of establishing credibility and reliability with clients. The script points out that in B2B sales, trust is essential and can be facilitated through introductions from known contacts, which can provide a shortcut to the right person within an organization.

💡Introductions

Introductions in the B2B context refer to being recommended or referred by a known contact. The script emphasizes the power of introductions in bypassing initial barriers, such as secretaries or gatekeepers, and gaining access to key decision-makers.

💡Market Insights

Market insights are the understanding and analysis of market trends, competitors, and customer behavior. The script suggests that providing market insights is a way to add value in B2B sales, as it can help potential clients make informed decisions.

💡Competitive Analysis

Competitive analysis involves studying competitors to understand their strengths, weaknesses, and strategies. The script implies that offering insights into competitors can be a valuable part of the B2B sales process, helping clients to understand their market position relative to others.

💡Skill Development

Skill development refers to the process of improving one's abilities and competencies. The script suggests that to succeed in B2B sales, one must enhance their skills, particularly in areas such as value-based selling and providing market insights.

Highlights

Transitioning from B2C to B2B sales requires a different approach and mindset.

In B2B, deals take more time and involve more hierarchy.

B2B sales often require multiple meetings before closing a deal.

The person you're meeting with may not have the authority to sign deals.

B2B is structured hierarchically, with decisions often made at higher levels.

Value-based selling is crucial in B2B, where knowledge sharing is appreciated.

Educating and inspiring potential clients can make you stand out in B2B sales.

Building trust through personal connections is vital in B2B sales.

Introductions from known individuals can provide shortcuts in B2B sales.

B2B sales involve navigating through gatekeepers and departmental barriers.

Having a CEO's introduction can significantly open doors in B2B sales.

To succeed in B2B, one must develop skills beyond traditional sales techniques.

Subscribing to the channel offers further insights into excelling in B2B sales.

B2B sales require patience and a strategic approach to closing deals.

Understanding market insights and competitors is key in B2B value-based selling.

B2B sales success often hinges on the ability to provide unique and valuable information.

Networking and leveraging existing relationships are essential for B2B sales success.

Transcripts

a friend of mine came to me and he was a

superstar in selling insurances b2c

environments

and he asked me said michael how how do

i succeed in b2b sales because he wanted

to do much larger deals and he wanted to

have a different approach he basically

wanted to learn something new and a new

techniques and i told him well look the

first thing you got to remember when you

come from b2c and you move over to b2b

is that one you cannot always be closing

the deal because in b2b it simply takes

more time you have more hierarchy things

are different you'll probably need four

to five meetings so be closing the next

step the next meeting but don't be so

eager to close the deal today get the

signature the person in front of you can

probably never sign what you're offering

them right so don't go like a madman

after that closing in the beginning

secondly

b2b is fundamentally always structured

hierarchical meaning that they always

have a boss they have a board even the

ceo has a boss you always need to go

there the bigger the amount the higher

the hierarchy the longer it will take

it's just the nature of b2b so dear b2c

friends

calm down just go with that flow thirdly

and that's something you you see less in

b2c b2b

there's a lot of value based selling you

need to offer knowledge people are

interested in talking to you if you're

explaining something they don't know

they're not aware of or you can actually

educate or even just inspire them but

the value-based approach of giving

something and explaining that is why

they want to talk to you they want to

have insights into the market something

they didn't know they want to inside

have insights into competitors even or

how would you do certain things so you

have to really get your skills a few

levels up to do the value-based game and

last but not least

they always say your word as much as

your network but do not underestimate

the people you know especially

especially in b2b the way you build

trust in the beginning is by actually

knowing several people and if they can

introduce you you get an immediate

shortcut to the right person because in

b2b going up to somebody walking up to

somebody and talking to them for the

first time it's very different than in a

b2c environment in a b2c environment you

can kind of force your way in in a b2b

environment you always have people

blocking gateway keepers like

secretaries but also a lot of other

people in departments that will just

block your pot but if you get an

introduction from one ceo that says you

gotta talk to that person there

they will open the doors for you big

time so if you want to be successful in

b2b i would start with those four and

they will give you a tremendous base to

actually grow your skills within the b2b

sales environment of course if you

subscribe to my channel there is a much

more that you can learn on how to be the

best and succeed in b2b sales

[Music]

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