B2B sales kick-starter tips for entrepreneurs
Sitting at the Microsoft office, sipping hot chocolate in the chilly Mumbai weather, we were all set for our session with Mr. Sudarshan on B2B sales. We were all eagerly waiting for this session and why not: Sales=Revenue=Growth for all of us.
He started with the sales kick-starter mantra:
First step is to identify the target. Spread awareness about your product, identify the need for its consideration, do the right product marketing and deliver the correct messaging based on the analyzed market trends.
Once the need has been established among the suspected leads, find the prospective customer. Identify the leads who have identified the need, the ones who haven’t done it will take and extremely long sales cycle. Use various databases to figure out the right person to approach in the prospect industry/company.
Once the clients that needs to be approached has been identified among the prospects, its time to touch base with them in the right manner. For this identify the right person in the company, one who has authority to take decisions, is from the right sector which your product focuses on, if they have the budget to take up new products, if they have the need right now and if they have the time to consider it. Do not hesitate to constantly ask for these things instead of wasting time dealing with the wrong person.
Few tested means of outreach are email, cold-call and targeted social media outreach. The best time to interrupt is 5 mins before the end of the hour ;). For cold calls, begin with confidence believing that you CAN interrupt him during this hour. Your tone matters a lot hence be friendly, respectful, take referral name to influence his interest, tell him why you felt he is the right person to talk to and don’t jump into details if he isn’t willing to give you 15 mins to talk. The right messaging across various channels has to be analysed. Few ways are to tell impactful stories, show testimonials, show social proofs and take recommendations. Multiple touch points is required for any conversion so make sure you have taken a tool for follow ups.
Follow up approaches depends on the type of market & your porduct:
In your followups, understand the buying process for your product. Identify the steps to buy like the first touch point, product information sharing, first meeting, demo presentation, various team meetings, proposals, final agreement, there are multiple steps and each takes time. Figure out where and how to optimise these flows. Do pilots to speed up the cycle, take constant feedback to involve them into decision making and get certifications if required for conversion.
Once the clients are convinced to take your product, figure out what negotiation works with them. It can be per user/ performance based commission, minimum guarantee fee etc.
Once the deal is negotiated, close the deal with right agreements and resource deployment for smooth product usage.
Make sure you implement billing and renewal systems in place.
We have used this to re-strategise our sales outreach! Thanks to Mr. Sudarshan Ravi for the amazing session :)
PregBuddy is a smart communication platform between doctors and chronics patients to provide faster care and reduce revenue leakage. Currently focused on Pregnancy. Recognised by Solve for India, Google for India Initiative, selected in Google Launchpad Build, FBStart, SheLeadssTech, NASSCOM10K, Startup Chile and among winners of Venture Engine 2017 at Asian Business Angel Forum!