Businesses are struggling with global economic problems and being affected by the looming recession. The World Bank even slashed its 2023 global economic growth outlook to 1.7% from its earlier projection of 3%. This, in turn, has forced companies to increase their marketing efforts to remain relevant locally and globally.
If you have a B2B business, you know that to grow and succeed, it’s imperative to increase your sales. Increased sales bring companies more revenue and allow them to stay competitive. They also build trust with their current clients and help them establish a reputation as industry leaders.
All of these factors are important for the success and stability of the company. Keep reading to find out more about how to increase your B2B sales efficiency and add high-value accounts to your book of business.
Define your ICPs and Buyer Personas
Sometimes you have to go back to the beginning to boost your sales. First, determine who your target audience is. Understand what types of companies make the best clients and who you need to target with your marketing and sales campaigns. To answer these questions, you need to define your ICP (ideal client profile) and buyer personas.
Consult company executives, R&D, and marketing leaders, as well as customer success specialists, to determine your ICP. The majority of companies begin with demographic data, such as industry, company size, region, and revenue. After you determine which types of companies would make the right clients, you need to determine who to speak to within those companies. This is where buyer personas enter the picture.
The creation of ideal buyer personas helps sales teams better understand their target audiences. Personas can help you better structure your sales process to increase conversions and generate more sales.
When determining the traits of your B2B buyer personas, think of criteria such as who to speak to within the organization, what their role and rank are, whether they’re a decision-making authority, and what their current goals are.
Defining your ICP and buyer personas enables you to create highly effective marketing campaigns, increase sales efficiency, and eliminate irrelevant leads.
Don’t Forget to Automate
The digital age has made it possible to automate our processes and actions. As soon as you get one process right, you can automate it using a certain platform and see your sales increase. There is automation for almost every task today.
For instance, if you’re looking to improve your LinkedIn efforts, consider making use of the many sales enablement automation tools available today that can help you not only find the right clients but also reach out to them, convert them, and increase sales. Sales automation tools for LinkedIn can help you collect data about your prospective clients, establish contact, and automate communication. This can save you precious time, as you won’t have to spend hours upon hours searching through LinkedIn to find the clients or prospects you need to get in touch with.
Use Social Media
Social media can be an effective way to boost your B2B sales. Social media sites that are geared towards business can be very effective in terms of B2B networking and research. These sites are focused on providing resources and connections in the business world, so their members have a natural interest in networking. This way, you will have the opportunity to interact with and observe your prospects before delivering a sales pitch.
If you sell packaging products, for example, you might want to follow businesses that sell products that need packaging. When you see that they have launched a new product, you can contact the company to ask who their supplier is, explain why your product might be a better option, and ask if they’re interested in buying these items from you.
Build Strong Long-Lasting Relationships
It’s important to maintain a strong relationship with your B2B clients if you wish to increase your sales. However, it isn’t an easy task. Relationships are built on trust, so it’s important to do everything you can to improve your credibility. When clients trust your judgments, predictions, and recommendations, they will buy your products even in the long term.
So how do you gain their trust, you might wonder? You can provide your customers with top-quality products, exceptional customer service, and relevant information. You can save time by using technology and other solutions, which will allow you to focus more on the needs of your customers. Customers will slowly realize that they made the right decision by choosing your service or product.
By defining or redefining your ICPs and buyer personas, focusing more on automation, leveraging social media sales, and building strong relationships with clients, your business can increase B2B sales efficiency and overcome obstacles in this competitive environment. Following these suggestions will help you understand your customers better and be able to see your B2B sales steadily grow in the long run.