The Ultimate Guide to Creating a Successful B2B Sales Strategy In 2023

 

There are all types of people. There are the strategizers, who compose shopping lists with the layout of the store in mind and may or may not have a panic attack when they misplace their daily planner. And there are those who seem to fly through life by the seat of their pants and enjoy poking things with sticks just to see what happens. 

There is a season for everything. “Winging it” may be fun during a weekend vacay, but when it comes to developing a B2B sales strategy, you’re going to want the planners and strategizers on your team for this one.

Consumer behavior is constantly shifting and changing, and a B2B sales strategy looks a lot different now than it did even 30 years ago. Let’s dive into what it takes to create a successful B2B sales strategy as we draw near 2023.

What is the Sales Process?

To begin, let’s do a quick recap on the steps of the sales process. 

Generally speaking, the sales process is composed of 7 steps:

1. Prospecting
2. Researching
3. Qualifying
4. Pitching
5. Handling Objections
6. Closing
7. Nurturing

Your B2B sales strategy must factor in every aspect of the sales journey and formulate a plan accordingly. How can you make the most impact each step of the way? How can you optimize your company’s sales process to obtain better results? 

Taking the time to consider the different nuances of each step will serve you well as you begin to formulate your B2B sales strategy.

What is a B2B Sales Strategy?

A B2B sales strategy is the “plan of attack” your sales team creates to optimize your marketing and sales endeavors and convert as many leads as possible into buying customers. 

For all the newbies out there (we see you!), we’ll save you a Google search and let you know that B2B stands for “business to business.” It’s pretty simple, really: this acronym defines businesses that sell to other businesses. Think of a local dairy farm selling their cream to that top-notch ice cream shop in town. Or a software provider partnering and offering their services to another company that lacks a good CRM system. 

This differs from B2C (business to consumer) and C2C (consumer to consumer) businesses. 

• B2C is a business that sells directly to consumers (like that ice cream shop selling their way-too-addicting ice cream to you).

• The C2C model defines sales made between individuals, often through a third-party program (like Craigslist).

 

How Are B2B Sales Different Than They Used to Be?

With the advent of the Almighty Internet, the whole sales game changed and opened up new and unique challenges for businesses. 

In the past, a B2B sales strategy was pretty simple and linear. Marketing would fill up the pipeline, sales would woo with their best pitch, and ideally a sale would be made. Most often the first time the potential customer would get a detailed understanding of the product or service would be then and there at the pitch, face to face.

But now every prospect has the whole of the Internet at their fingertips. By the time they arrive at the point of contact with a company, they have already identified their problem, researched the heck out of it, compared reviews and competitor options, and only want to engage with a sales rep AFTER they feel they have completed gathering all the information and knowledge they possibly can. 

Instead of a straight-forward, predictable process, every customer’s journey to a sale is different, unique, and complex. And let’s be honest, we all experience this personally on a regular basis. 

Just think about it: When you’re making a purchase on Amazon, what’s one of the first things you do? 

We can almost guarantee you scroll right down to the reviews. More than the product description set forth by the company, the voices of those who have purchased the product are given the most weight. We are more skeptical and distrustful of marketing and prone to heed the voice of our peers (and our own personal research) over that of a company. 

This isn’t necessarily a bad thing. But it does force us to take our B2B sales strategy seriously if we are to reach our target market and meet our goals successfully.

So let’s get into it, shall we?

5 Steps for Creating a Successful B2B Sales Strategy

1. Understand the Customer Journey.

Before you even begin planning your B2B sales strategy, it’s important to first understand the customer journey and look at sales from the perspective of the consumer. After all, the whole point of sales is to encourage someone to make a purchase—and you won’t know how to move them to that point unless you get to know them. 

There are several steps a customer takes on their journey to a sale.

• Discovery. In seeking a solution to a particular problem, the consumer is introduced to your products or services, whether that is through a Google search, an ad, word of mouth, or some form of content like a press release or blog post. 

 

• Consideration. After the consumer has gathered enough information about all available options, they deliberate on the best choice.

• Decision. The consumer decides which option to move forward with and makes a purchase.

• Retention. After the purchase, the customer either continues to engage with the company and they become a loyal customer, or they are dissatisfied and move elsewhere.

Now ask yourself the question:

How are you reaching and engaging with your leads and customers during each step of their journey?

As we mentioned earlier, a successful B2B sales strategy is woven throughout every step of the sales experience, from marketing to nurturing to closing. The way you operate each step can determine whether you make the sale AND create customers that stick around. 

2. Conduct Market Research.

Market research is a necessary step when developing your B2B sales strategy. Hard cold data doesn’t lie, and the information you receive is invaluable in directing your endeavors.

What you need to achieve with your research will be specific to you, but here are a few common goals to get you going.

• Get perspective on your competition. What are they doing that’s working or not working? What do you offer that is different and makes you stand apart?

• Hone in on your target market. What are they buying? What are they searching for? What keywords are they using? Consult with an SEO expert to really up your game and optimize your reach. 

• Get to know your prospect’s preferred “mode of communication.” Where are they gathering? Are they at conferences and events, or on social media sites like LinkedIn, Instagram, or TikTok? 

• Gain a better understanding of the current market conditions. The tides are always moving.

• Pick out ways to fill gaps in the market. Provide solutions and take advantage of opportunities presented to you.

There are many avenues for conducting market research, including interviews, surveys, competitive analysis, and even social media. Take the info you gather and use it to paint a clear picture of what works, what doesn’t, and how to move forward in a way that is most likely to succeed. 

3. Qualify Your Leads.

As you are gathering leads, it can be exciting to see the numbers rising and potential opportunities piling up. But keep your head on straight. One of the biggest mistakes in sales is wasting time on unqualified leads. 

When implementing your B2B sales strategy, time = money. Every minute spent on a prospect that isn’t a fit for your company directly affects your bottom line. If you really want to make the most out of each and every lead, you HAVE to qualify.

You can make this process particularly simple by partnering with a Sales Experience (SX) team (*coughcoughSQUEEZEcoughcough*). The whole goal of an SX partner is to take on the time-consuming tasks of prospecting and qualifying leads for you so you only get the leads that are hot and ready to close. This significantly impacts efficiency within your company and increases revenue. 

If you’re interested, getting started with Squeeze is as simple as filling out a short form. That one step alone could impact the trajectory of your B2B sales strategy in ways you would never imagine.

4. Make Contact.

Ahhh, the moment of contact. Some love it. Some hate it. Either way, this step is crucial for the success of your B2B sales strategy. 

When at all possible, opt to meet face-to-face. In-person is the highest form of communication available for this type of thing, especially if  you are looking to stand out from a sea of competitors. More than ever, successful businesses are built on trust, and trust is built through developing real relationships. 

Video calls are another great option for making contact. Pitching and handling objections in real time while being able to observe facial expressions and body language (and the lead, in turn, understanding you and your personality better) can lead to much better results than phone calls or email. 

5. Close and Nurture.

Ideally your B2B sales strategy ends with a satisfying close that delights both you and your new customer. But even if that’s not the case, the process isn’t over. A “no” isn’t always a forever no, and your strategy carries over into nurturing. 

Always offer to stay in touch, if the lead is down for it, and be good on your word. Keep them in the email loop, add them on social media, and continue to gently cultivate the relationship through the content, news, and promotional offers you provide. You never know when a need might arise and you are remembered because you’ve been consistent in your nurturing campaigns. 

Best B2B Sales Tip of 2023? Choose Squeeze.

If you’re serious about developing your B2B sales strategy and making the most out of every lead, contact us today. We’d love to learn more about you, your B2B sales strategy goals, and how we can help you make 2023 the best year your company has ever seen.

We’ve made it happen for so many companies, and we can do it for you, too. Here’s to 2023!