How To Sell To Businesses In A Global Marketplace
As a startup, you have the choice of addressing the needs of businesses or retail customers. They are both customers but you can’t deal with them in the same way. B2B is extremely competitive because your competition is most likely going to be the global market place.
The business you are trying to sell your product to is keenly aware of the best prices available in the world for the items they need. So before you start, ask yourself this very important question: Can I compete in this market? If you can, make sure you are reliable more than anything else.
You know you should be honest but not being honest can cost you dearly. Technology makes it almost impossible to lie these days because anyone can go online and find out all the information about the size of your company, the CEO, finances, what high school you went to and countless other details.
Begin your startup by letting your businesses know exactly what you can provide and deliver on that promise every time no matter what. If you can not make the delivery, again be honest and tell them the exact date you will be delivering it. Reliability is what a business looks for and if you can deliver it, your customer base will grow whether you like it or not.
Target Your Competition
Before you start addressing the customer, find out who your competition is and find out why your customer uses their business.
This will take some legwork but it is information you have to have. With this information you will be able to answer some very critical questions which will save you time and money.
Engage Your Customer
A website is essential in today’s market but it is only one part of a multiple marketing approach you must use in order to engage your customers and change a prospect into a buyer.
Your approach should include social media sites such as Facebook and LinkedIn and email monitoring to connect all your business associates together and keep in touch. You have to use analytics to determine if your site is giving you measurable results in your sales effort and adjust accordingly to any strategy that is not producing positive results.
Use Different Tactics
Depending on the product you are selling, the sale order might come in once a month, every quarter or just once. That is why your sales approach should not be limited to one method. Make attempts using different sales techniques but before you take any sales meeting find out about the business just as you did about your competition. If the company is not capable of making a purchase or the industry is facing a challenge, postpone the sales meeting until things improve. Remember to check periodically on how the business is doing.
At the end of the day, selling to a business or retail customers involves dealing with people and how you present yourself and your company will go a long way in persuading a potential customer into purchasing your product.