As a B2B sales reps, you'll probably encounter a variety of challenges in your daily operations. While some of these challenges are minor, have little or no impact on your performance, others are more severe and can hinder your ability to generate sales. So, what are the biggest B2B sales challenges that you need to be aware of?
Sales-accepted leads (SALs) are an invaluable tool in B2B sales. Without them, you'll probably experience a low response and conversion rate with your sales efforts. Basically, SALs are leads that have already been reviewed and vetted by the marketing team. Once the marketing team acquires a lead, they will verify it for quality purposes. And once it's been verified, the lead will be passed down to the sales team as an SAL. Compared to traditional leads, SALs are far more likely to yield sales.
Many times, sales will need more than a single contact to build the lead into a sale. That’s where Salesleads’ Target Account Intelligence Platform comes in. Our Platform will help you reach further down and across the organization with valid names, direct dials and emails.
Retaining customers is another major challenge faced by B2B sales reps. According to Business.com, companies spend 67% more money selling to new customers than they do selling to existing customers. If you're unable to retain customers, you'll exhaust a significant amount of time, resources and energy on selling to new customers. Be sure to spend a percentage of your time nurturing your company's existing customers. It’s valuable business that closes in a fraction of the time.
We frequently hear how employee turnover, including management, affects the stronghold on their customer. This is another reason why Target Account Intelligence can be valuable to your customer retention efforts. Get the names, direct dials and emails to help ensure communications and relationship building with the new employee(s) and others within the organization.
With data analytics on the rise, many B2B sales reps suffer from "data overload." This occurs when a sales rep is bombarded with so much data that he or she cannot properly analyze or use it. You can overcome data overload by using the right software and systems in your sales operations. A customer relationship management (CRM) solution, for instance, can streamline data analytics in a central hub.
How long is your average sales cycle? A long sales cycle takes time and consistency in messages. Work with your marketing team on marketing elements such as brochures, white papers, case studies and video’s. Use these for reasons to communicate with your prospect by providing great content that keeps the momentum in your favor.
Many times, a long sales cycle means a larger dollar sales opportunity. This will probably mean many people are involved in the recommendation to decision making process. Be sure you have identified all those involved. If not, the Target Account Intelligence Platform can help fill in the gaps.
Finally, reaching decision-makers is a common challenge faced by B2B sales reps. Just because you call a prospective company to pitch your product or service doesn't necessarily mean that the person who you speak to has purchasing authority. Be sure to identify the gatekeepers (who can be more than the receptionist or assistant), influencers, recommenders and decision makers. Be sure to qualify those who say they are the decision maker. They can sometimes be nothing more than a self-proclaimed decision maker.
To help validate and confirm contacts, use the Target Account Intelligence Platform. It will help ensure you are on the right track.
The Target Account Intelligence Platform can help you to:
Now you’ll have the best approach for overcoming the 5 biggest B2B sales challenges.