13 July 2020
According to research by Forrester, the B2B e-commerce industry alone is projected to reach a net worth of $1.8 trillion by 2023.
What’s more, according to our database there are over 1.7 million IT, internet, and R&D companies worldwide. This is a huge pool in which to work as a B2B organization, as most IT, R&D, and internet companies can work together irrepsitve of geographical location.
However, while the tech and research B2B industry is booming, making sales to B2B clients has its own set of challenges. By its nature, the B2B market is integrally different and requires its own specific marketing techniques.
Therefore, to get your slice of the B2B pie, it’s important that you start leveraging B2B specific sales and marketing strategies. Otherwise, you may end up blowing your budgets, and not seeing the sales numbers that your company should be generating.
Fortunately, there are a few tried-and-tested areas that B2B companies can focus on which can dramatically improve their sales; particularly in IT, internet, and R&D sectors.
Read on to find out what these are, and start winning more clients today.
Create a Content Library
The large majority of B2B customers will conduct extensive research of their own before reaching a buying decision. Research has shown that up to 94% of B2B customers conduct research before making a purchase.
This new purchasing behavior opens a door for B2B marketers to reach their audience before competitors. If you can provide content that answers B2B customers’ questions, while they are in the research stage of the buyer’s journey—you will be able to effectively position yourself as an authority in your area.
This is a highly effective strategy for building brand trust before a customer even reaches out.
Stats show that customers who have utilized your content are more likely to choose your offering over another brand’s. According to research, 95% of B2B clients choose businesses that provide them with ample content throughout the buyer journey.
To tap into this, create a content library that contains highly useful information to your sector or niche. For example, if you are an IT company, creating blogposts around key IT issues that other businesses face will inevitably draw in leads who are looking for solutions. Through this content, they can be indirectly led to your products or solutions.
As well as building up brand trust, publishing informative content also comes with SEO advantages. Besides garnering organic site traffic, a rich content library can also act as a resource that sales agents can share with leads at key query points in their buyer journey.
Make Your Sales Personnel Into Niche Experts
In B2B industries clients are typically fewer and larger. What’s more, B2B clients tend to have a clear idea of what they require before they reach out, especially when searching for an IT, internet, or R&D service.
In order to provide the best B2B customer service and cultivate brand trust, you need to turn your sales personnel into niche experts.
What does this mean?
That each salesperson should position themselves as an informed authority within your industry. This particularly holds true for companies that are in the IT, internet, or R&D sectors, as types of B2B companies offer high-tech solutions.
By establishing your sales staff as niche experts, this indicates to potential B2B clients that they are in good hands when they engage with you.
To achieve this, sales personnel need to have expert sector- and product-related knowledge. To demonstrate and share this knowledge they should work to create thought leader type content on platforms such as LinkedIn.
Stats show that LinkedIn is responsible for 80% of B2B lead generation, so do not ignore this opportunity.
All sectors can benefit from this strategy. However, if your is a tech or R&D company, it truly pays to demonstrate that your company is run by experts and that the sales department is knowledgeable and there to serve a need. Not to blindly promote products.
Implement Sales Intelligence Solutions
Another top tip for sales is to start leveraging sales intelligence solutions. Sales intelligence solutions increase efficiency and assist sales personnel to establish fruitful connections with potential clients.
This is achieved by leveraging big data to uncover businesses that require your specific IT, internet, or R&D services. Through this, sales will be able to optimize lead generation, prospecting, CRM, and deal closures.
Align B2B Marketing and Marketing
Another strategy to fine-tune your B2B sales strategy is to align sales and B2B marketing teams.
As mentioned above, the buyer journey has changed. B2B buyers are conducting more research before reaching out over a purchasing decision. Because of this, the lines between sales and marketing departments are blurring. In many instances, sales will have to handle stages of the buyer journey that used to be left up to marketing and vice versa.
To seamlessly handle this melding of roles, B2B marketing, and sales departments need to be aligned in their goals, marketing resources, and communications. No matter who deals with the buyer, they need to meet the buyer where they are at in the sales journey. Departments that are not aligned may chase away new B2B clients.
Leverage Your Network and Start-Up Ecosystem
One untapped resource for many B2B companies is their own unique networks. For companies operating in IT, internet services, and R&D it may pay to reach out to founders’ personal networks. It might very well be that within these networks lie needs that your B2B company can meet.
Additionally, if your B2B business is new, it may be part of its own start-up ecosystem. Leveraging this network of contacts would likely put you in touch with other startups that need your services or products.
Follow Prospects’ Content
Before reaching out to potential B2B clients, it is imperative that you do in-depth research on them.
B2B customers do not have time for generic sales pitches. However, if you have pinpointed unique pain points that you may be able to solve for them—you will probably have their attention.
If your organization offers tech or interent products and services, ferreting out what a prospect’s needs are will allow you to make an offering that is tempting and of value. Rather than one which is guaranteed to be turned down.
Choose Account-Based B2B Marketing
Another hot tip for marketing B2B services and products is to implement account-based marketing. Account-account based marketing is personalized and tailored towards specific leads that you wish to target.
In account based-marketing sales and marketing typically align, leveraging business data and research to target specific accounts with whom they intend to do business.
For example, following and analyzing prospects’ content is one facet of account-based marketing.
Do You Need to Win B2B Clients? We Can Help
If you need to win more B2B clients the above strategies can help. However, to effectively implement most of these, you will need to have access to accurate and clean data.
Reliable data is key to aligning B2B marketing and sales departments. As well as for implementing effective account-based B2B marketing, and creating high-value content.
If your databases are in a mess, this can pose a serious stumbling to these goals. What’s more, lack of useable data can also impact decision making, general B2B marketing, compliance, and even your bottom line.
Need to sort out your data and use it to your advantage? Talk to our team to find out how we can help, or take a look at our range of services. We offer stand-alone consulting services as well as all-in-one packages.