The business-to-business, or B2B, sales process requires multiple, careful steps from the first point of contact to closing the sale. Although there are many B2B sales strategies available for use, almost all can be distilled into five simple steps. Understanding and following this flow can help your B2B organizations develop stronger customer relationships, increase sales, and earn more revenue.
5-Step B2B Sales Process
The efficacy of your b2B sales process directly correlates with the success of your business. Carefully read through each of the following phases to gain a better understanding of the formula that will generate more sales.
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Connect with potential customers
The internet and social media make it easier than ever to find and connect with prospects. Once you define your target audience and ideal customer, you should have a holistic understanding of who needs your products. From there, you can reach out to businesses with a gap that you can fill.
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Ask challenger sales questions
Challenger sales questions are open-ended queries that get to the heart of what customers need. They are designed to uncover pain points that potential customers may or may not be aware of. In either case, challenger sales questions help prospects look at their issues and available solutions from a different perspective. As the business offering a valuable solution, you are well positioned to convert prospects into loyal customers.
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Educate
Use the answers to your challenger sales questions to offer prospects actionable advice or teach them something that will benefit their business. Here, it’s important to educate without mentioning your product. Although this might sound like the opposite of what you want to do, it communicates that you genuinely care about your prospect’s success – not just about selling. This step is all about establishing trust and developing a meaningful connection.
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Use GPCT
Traditionally, sales were run by an ABC methodology: Always Be Selling. Today, however, most successful organizations use GPCT:
- Goals – Understand your prospect’s goals.
- Plans – Ask about their plans to achieve their goals.
- Challenges – Get to know what challenges keep them from reaching their goals.
- Timing – Ask about the timeline for their goals.
GPCT is an excellent method for qualifying your prospect. The answers will help you determine whether they truly need your product and if you are the solution they’ve been looking for. The more you understand where they are, where they want to be, and how they are going to get there, the easier you can fit your product or service into their journey.
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Close the sale
Although many think closing a sale is the most daunting task, it can be quite the opposite. If you have completed the aforementioned steps to gain a deep understanding of what your prospect needs and how you can solve their pain points, closing the sale should be the easiest part. Your potential customer should see this step as an obvious choice.
Don’t push a sale if they are hesitant. Instead, give them time to think about it and schedule a follow-up call. You will develop a stronger connection and deepen your prospect’s trust with each subsequent call.
