Regardless of what exactly your B2B company sells, you'll probably experience ups and downs depending on the office market fluctuations. When there's high buyer demand and low competition in your market, you'll naturally sell more products or services. But when your market begins to decline, the opposite tends to happen: You sell fewer office products or services. While there's no way to control office market conditions, there are ways to increase your company's B2B sales in an unpredictable market.
Improve Customer Service
Even if you already offer top-notch customer service, there's probably room for improvement. And by improving your company's customer service to the office industry, you'll sell more products or services in a declining market. According to Hero Themes, nearly two-thirds of office buyers purchased more products or services after experiencing good customer service. Customer service can help define and differentiate your company from its competitors, giving prospects a reason to purchase from your company instead of somewhere else.
Tap Into Existing Customers
Don't spend all your time and resources selling to new office customers. While attracting new customers is important, selling to existing office customers is equally if not more important. In an unpredictable market, existing customers can help you achieve greater success. Statistics show that it costs anywhere from five to 25 times more money to sell to a new office customer than it does an existing customer. Therefore, you should tap into your company's existing customer base in a declining market to sell more office products or services.
Purchase Identified Projects to Maximize Your Sales Time
Half the battle is uncovering sales opportunities, and in challenging times, you simply don’t have time to find the needle in the haystack. Keep the sales momentum going by using SalesLeads Office Project Report. Companies will always continue to grow, move and expand, it’s just harder for you to find them. SalesLeads is constantly researching and talking to thousands of companies that are planning on expanding, relocating or expanding their business. Now you can maximize your sales time and continue to add new business to your pipeline. If you haven’t tried out a few, now’s the time.
Expand into New Office Markets
Of course, another way to combat an unpredictable office marketplace is to expand your company's operations into other, new office related markets. Try connecting with some of your company's current suppliers to see what other types of office products and services they sell. You might be able to include one of these products in your inventory, allowing you to expand your company into other office markets.
Tackle Sales Objections
As a B2B sales rep, you shouldn't take "no" for an answer. When an office prospect rejects your offer, try to probe him or her for a reason. Once you've identified why the prospect is unwilling to make a purchase, you can then work to change his or her mind. Maybe a prospect favors a similar office product or service offered by a competitor, or perhaps the prospect believes the price is too high. Regardless, you need to identify and tackle sales objections such as these to succeed in an unpredictable office market.