The State of B2B Sales in the post-COVID Era
by Jimmy O. BloggerCOVID-19 has plundered almost each and every
livelihood and diminished lives in every possible manner. Although it is not
sure to predict the pervasiveness of this pandemic’s destroying capabilities,
early signs of absolute economic disruption are plenty bright. One might not be
able to guarantee the extent of the pandemic’s destructive capabilities. However,
the early signs of absolute economic disruption is clear.
Taking care of the staff and customers becomes
priority 1 for sales leaders across the globe. As a result, an essential facet
of the issue is adjusting to the new normal. It is an established fact that
consumer buyer behaviour is changing with the turbulent economic landscape.
Although in tandem with the digital transformation efforts before the pandemic,
leaders need to reorient the way they sell. Despite the digital transformation
efforts before the pandemic, the leaders need to reform the selling strategies.
B2B sales
post-COVID is going
to see a fundamental change. Here are some of the ways how we see the future
panning out.
Changing Landscape of Industry Events
What should
you know?
With
the lingering of the new usual, we notice that one of the primary sales
drivers, industry events, has thoroughly stopped functioning. As the new usual
continues, we find ourselves in a time where one of the primary sales drivers,
industry events, has ceased to function thoroughly. For B2B Sales leaders, this
is the time to reassess their strategies and commit to make more contents.
double down their efforts on making more content, Further, they can facilitate
more podcasts, webinars and promote work on fostering better relationships for
their prospective target market.
It is also the time for B2B sales rock stars to shine in the digital world, with the help of their marketing counterparts. Working lunch with clients are in the past now as one must acknowledge that Gone are the old ways of taking clients out for lunch and then discussing the deal, your target market lies in the palm of your hands. Depending on the individual perspective of this disruption, Unfortunately, or fortunately, depends on how you take this sudden disruption, the only way to reach your clients is virtual.
The Way
Forward
It
is not all bad news though, this is an
opportunity to keep going with the times and make sure that your target
market is well served. One can certainly
confirm that because if the product was needed to function before, they are
still needed. Additionally, the good news is, they hardly have any other
opportunity to reach you, so make yourself visible in the world and see how
soon the MQL (Marketing Qualified Leads) turn into customers.
The Paradigm Shift in Messaging
What should
you know?
Extensive communications from every place possible, has removed the boundary between personal and professional lives. With this influx of information ensued, your client needs to know quick, mission-critical, non-faff information only. This is possible only when the goals of your primary communication are crystal clear and concise. The attention span has diminished because of pre-2020; the mind was focussed on work when at work, and not otherwise. Now that homes have become workplaces as well, B2B sales turn into a game of swift, agile, precise and concise communications.
Way Forward
So how do you accentuate these conversations? Simple, ask them what they are feeling with the business, how are they dealing with the new developments? The pandemic situation is pretty substantially changing the landscape of the industry, and with that, B2B leaders can further understand what the customer wants and how this behaviour will possibly change with time.
With
better relationships with your existing clients, it will be easier to pave
better ways with your new clientele, understanding their vision and actualising
their business changes with the value obtained by your product.
Post COVID Customer Spend Patterns
What should
you know?
Ask yourself this, where exactly does my product lie in the spectrum of my customer? How do I uniquely position it so that the value is clearly articulated to the client? If you find that these questions are easy to answer, go with your gut feeling for the sale and with the confidence that you had before this pandemic.
If
the buyer sees value in your product offering, they will immediately grab hold
of the opportunity. One definite advantage of this sudden digital
transformation is that the buyer intent is crystal clear, and can be adjudged
across any level of the funnel.
The Way
Forward
Was your solution selling like hot cakes before the pandemic? Is it not selling now? If the answer to both of these questions is a yes, you should re-evaluate your positioning and strengths as the epidemic has got nothing to do with the inability to sell.
Coming together as a team, marketers and sales folks should not pursue the hard selling strategy, as multiple touchpoints might turn the prospect away from the sale. Transactional B2B sellers should reposition themselves as more consultative. You cannot give up the idea of everything going back to normal, and if you are running out of patience right now, you might be backing away from a possible future sale. The times are tough, but the situation will turn for the better, and when spends are back to normal, the products which were steadfast on their beliefs will stand robust.
Patience is the key.
Back to the drawing board
What should
you know?
An
essential yet easily forgettable aspect of any formidably disruptive situation
is the presence of existing clients. By giving the right situational analysis
and how far deeper into the account, your skills can take you to your marketing
colleagues will help them and in turn you with Account-Based Marketing.
Existing
clients are goldmines which are often ignored because B2B solution sales folks
are mostly hunters and not farmers (frankly early stages needs lesser farmers
if any).
Another
opportunity which the pandemic provides itself with is the idea of going back
to the drawing board and reimagining your ideal customer profile. Your product
sells, and it is reasonably priced, people are buying it, but have you ever
thought of exploring new horizons with the existing capabilities?
The Way
Forward
No magic 8-ball is going to tell you when the pandemic is going to end, but your marketing team might be able to give you a better understanding of what next to sell. So, stick to the basics, understand your customers better, and foster long-term relations. Trust your product, and look for newer places and ways to sell the value proposition.
New Ways to Sell
What should
you know?
Indeed
the situation is dire, and it has not given us enough time to slow down and
think. What it is though is that it is familiar to everyone, so if your
communication mediums have changed, the very same thing has happened to your
buyer. Mind you, the world is working still, and the products needed before are
yet required, the question is, are you willing to bite the bullet and show your
best self, virtually, in webinars and while delivering the product?
Way Forward
Your buyer is facing similar issues; they are also working from home, they are also juggling through multiple tasks, and here comes the human, compassionate element which B2B sales rockstars are famously known for.
As
the situation continues, B2B sellers need to be patient, and their target markets
and even their existing clients are making some hard decisions. But this does
not mean that the work is over, far from it actually, sellers and marketers
need to reorient the way they have understood their customer.
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Created on Sep 16th 2020 08:01. Viewed 334 times.