Selling is hard work! And there are various hidden pitfalls and mistakes that even the most experienced sellers keep repeating. It is critical to address these issues and implement a sales strategy that will effectively avoid those B2B sales mistakes on Amazon and beyond that can cost you revenue and a hard-earned reputation.
Meanwhile, in the previous article, we already discussed the top 5 most common B2B sales mistakes, which included:
- focusing on sales and neglecting to build competent relationships
- work with too small clients
- rush potential customers
- having not enough qualified leads in your sales funnel
- highlight only the characteristics of your product
How to avoid the most common B2B sales mistakes?
Now let’s move on to the second five of our useful list!
B2B sales mistake #1: fear of a high price
In the meantime, regardless of the impeccable approach to sales, the price is a decisive factor in closing a deal. Sellers know this and tend to play the price line too well. This hurts their success rates.
Founders and decision-makers often underprice their merchandise, thinking it will have more impact. However, business customers quickly smell distrust or cheapness. This will come in handy during negotiations and you may end up asking for even less than your original price.
How to fix this issue?
Always price your product in a way that reflects the hard work, investment, and cost of production, and be sure to protect it. This shows that you value your work and trust your product. If you can convince B2B customers of the results, they will accept your price.
Another fatal mistake that undermines B2B sales is the lack of price selection. Businesses are looking for flexibility, and the three-tier pricing structure gives them more data to make an informed decision.
If you’re worried that your product’s price is too high, the basic plan can create a low barrier to entry, while the premium plan can show real value.
B2B mistake #2: Not understanding your company’s USP
The USP, or Unique Selling Proposition, is the short answer to “how are you different from your competitors?”.
If you cannot name at least 3-4 points in which you differ, then the buyer will compare you and competitors only by price (and here you will most likely lose).
How to fix this issue?
Likely, your business may not have a USP. In this case, you need to rely on yourself and your personal qualities as the seller – charisma + speed of responses to the client + customer focus. And this may well bring you dividends even in a highly competitive market with the same type of products – if the client understands that he can buy conditional cement for 100 rubles from the gloomy and slow Mark, or for 100 rubles from the vigorous and fast Anthony, then what do you think? who will he choose?
Try to find a USP by asking the following question: “How are we different from others?”
Write down all the answers and make up your overall USP from them.
B2B sales mistake #3: not measuring sales processes
First, sellers need to stay organized and have a clear vision of the objectives. It is difficult to improve and adjust without measuring your sales processes. When you have a CRM system in place, you will be able to track and measure important data. In this way, you will be able to understand what works and what does not, which will give you a better understanding of the market and customers.
How to fix these issues?
Tracking and measuring your data can be a double-edged sword as many businesses tend to experience data overload, such as measuring and tracking too many variables.
It’s important to identify which data is critical to your sales process and measure it effectively. It again comes down to knowing what is important to you. Define achievable goals, processes, smaller steps, and timelines. Compare your performance to the metrics to see how you’re doing and where you can improve.
B2B sales don’t follow a fixed strategy. That’s why it’s important to collect data and keep improving.
B2B mistake #4: Working for a company without a CRM
If your company has more than 20 clients, is over 1 year old, and doesn’t have a CRM, that’s not a good sign. This means that management as a whole does not follow the sales processes very well and does not monitor the effectiveness of each sale.
If the head has not changed and the company has been working this way for 10 years, then it is strange to think that after your arrival for 11 years, everything will suddenly become automated and cool.
How to fix this issue?
- Do not work in companies without CRM
- Work, but be prepared to run and use CRM yourself
B2B sales mistake #5: Not communicating with other sellers
When you don’t share your experience with other salespeople, you limit yourself, your vision, and your career opportunities.
Therefore, in this way you limit yourself in money.
It is important to understand that it is important to communicate and keep in touch not only with sellers but also to keep an eye on competitors!
How to fix this issue?
Keeping an eye on your competitors is especially helpful for startups trying to carve out a spot in a market that already has successful products. Monitoring the actions of other players will help you optimize your advertising budget, increase your reach, and build your social media image.
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