Friday, March 6, 2015

3 Ways to Increase Sales in a B2B Business

Almost all business blogs are written with retail or business-to-consumer companies in mind. Much of this advice will translate to business-to-business operations, but much of it won't. With years of experience in the cement industry, Alexander Bouri knows that selling to another business is very different than selling to consumers and he has assembled these three sure-fire tips to boost B2B sales:

1.  Spend more time not selling – Most companies are inundated with offers from new vendors, and that means they can feel as if their time is being wasted. Nothing is more important to a business leader than their time. Instead, focus on what they don't get nearly enough of: helpful information, advice, and resources presented free of charge. In other words, spend more time talking to potential business but don't spend all of it trying to make a sale. There are many ways to do this, from holding monthly networking events to offering classes, seminars, and industry news updates. Blog actively in your industry and produce valuable resources like how-to manuals and introductions to complex topics. Become indispensable to potential customers long before they buy anything, and they will think of you next time they want to place an order or invest in a service.

2.  Always be ready to undercut – Business customers are often far more price-savvy than consumers are. Good advertising still works in the B2B world but, at the end of the day, if they can get a better price they probably will. Use this to your advantage by being perpetually ready to undercut the competition—even if that means making less profit than you'd like. An easy way to do this is an introductory offer. Tell the lead that you want them to try out your product or service to see the difference it makes, and so you're offering them the first order or month at a special price, with no obligation to stay on if they're not happy. Then make that price irresistible. If you trust in your product or service to get them hooked, then this is a small price to pay for what will likely become a long-term customer.

3.  Always offer something extra – One thing that businesses and consumers have in common is that everyone likes a freebie. Whatever you promised to deliver, deliver a little more or throw in something extra you know they'll have a use for.

What else do you do to boost your B2B sales figures?

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