Monthly Archives: June 2010

Upcoming Trends In B2B Sales.

Posted on June 28, 2010 | 6 Comments

The B2B marketplace is an ever-evolving, dynamic environment, where large amount of transactions take place that run into billions. With growing competition in the Business-to-Business marketplace, the buyers are at an advantage as they can have a multitude of options to choose from. The suppliers on the other hand can negotiate better, rather than being stuck in a bad deal with just one buyer in hand. With competition, one needs to constantly update oneself regarding the latest trends or else it can give an edge to your competitors. Last year, the economy has seen major changes and upheavals leading to a greater need for using different strategies to move forward. Here, we will be discussing some of the upcoming trends that will have a major impact on the B2B Sales.

Content is the king.

Saying that E-commerce has brought buyers and sellers closer would be an understatement. It sounds very advantageous to have the global marketplace within your reach but you need to have the perfect interface so that your business can move forward. Clients cannot appreciate the quality of your services or products before buying them and in order to attract them, there should be content that manages to create interest.

Innovative sales skills.

Sellers tend to see their side of situation, especially those ones who are looking forward to give innovative offerings without caring about their relevance to the buyers. The buyers in contrast are now searching for the solutions to their problems, what they essentially need to drive their business forward.

Customize, Adapt, Modify – Offer something special.

The buyers are now looking forward for suppliers who can provide them with highly customized products rather than standardized ones. This is also an outcome of the increased competition, where the company that offers customized products to its customers/end-users is more likely to have a bigger share in the market. So, the companies now need to show how they can provide real value-addition rather than just selling their products in the market.

Find what the end-users want

√ Another trend being seen is that companies at the selling end of a B2B deal are devising new techniques to determine the factors for client satisfaction, by researching about the end-users of their buyer’s products and services.

√ By mining the data accumulated through consumer surveys, the companies are forecasting about their buying behavior so that they can serve their clients in the best ways. This is based on the premise that clients will definitely be interested when you put forward a sales pitch that contains facts about ‘their’ customers rather than just talking about your offering.

Upgrade sales skills

Sales Team needs to be trained on a frequent basis to let them sell the products in the most innovative manner. Buyers receive numerous quotations from sellers on an everyday basis, wherein they have to narrow down the potential suppliers as per the offerings and their own budget. In such a scenario, hundreds of suppliers are giving the same offers within the budget of the buyer, so a supplier’s chance here depends upon how innovative their sales and marketing strategy is.

Social Media: The buzzword of B2B sales

The influence of social media platforms is increasing day-by-day as suppliers are reaching the buyers through them and vice-versa. Irrespective of the industry you are in, B2B is increasingly being converted into B2C, where buyers are interacting with customers to see the effect of dealing with a particular supplier, on the popularity of their products. It also reduces the interaction time and cost for both the parties. Social media has enhanced the way E-commerce can flourish and in the future it will play a much bigger role in bringing companies closer.

Consider this- Buyer A has a website that advertises the Cameras that it manufactures. This company joins a networking site and advertises about its website to attract people. As more and more people join the account of the company, the chances of a supplier being among them increase. Similarly a Supplier B, who is looking out for a buyer can advertise on such a website to find potential buyers.

The coming years will see the global marketplace become more closely knitted.  So, the buyers and sellers should keep themselves in sync with the new rules of the B2B marketplace to progress.  The traditional means of advancing your business are no longer applicable and only the businesses that continue on the path of innovation can succeed.

The B2B marketplace is an ever-evolving, dynamic environment, where large amount of transactions take place that run into billions. With growing competition in the Business-to-Business marketplace, the buyers are at an advantage as they can have a multitude of options to choose from. The suppliers on the other hand can negotiate better, rather than being stuck in a bad deal with just one buyer in hand. With competition, one needs to constantly update oneself regarding the latest trends or else it can give an edge to your competitors. Last year, the economy has seen major changes and upheavals leading to a greater need for using different strategies to move forward. Here, we will be discussing some of the upcoming trends that will have a major impact on the B2B Sales.

Content is the king
Saying that E-commerce has brought buyers and sellers closer would be an understatement. It sounds very advantageous to have the global marketplace within your reach but you need to have the perfect interface so that your business can move forward. Clients cannot appreciate the quality of your services or products before buying them and in order to attract them, there should be content that manages to create interest.
Innovative sales skills
Sellers tend to see their side of situation, especially those ones who are looking forward to give innovative offerings without caring about their relevance to the buyers. The buyers in contrast are now searching for the solutions to their problems, what they essentially need to drive their business forward.
Customize, Adapt, Modify -Offer something special
The buyers are now looking forward for suppliers who can provide them with highly customized products rather than standardized ones. This is also an outcome of the increased competition, where the company that offers customized products to its customers/end-users is more likely to have a bigger share in the market. So, the companies now need to show how they can provide real value-addition rather than just selling their products in the market.
Find what the end-users want
Ø    Another trend being seen is that companies at the selling end of a B2B deal are devising new techniques to determine the factors for client satisfaction, by researching about the end-users of their buyer’s products and services.
Ø    By mining the data accumulated through consumer surveys, the companies are forecasting about their buying behavior so that they can serve their clients in the best ways. This is based on the premise that clients will definitely be interested when you put forward a sales pitch that contains facts about ‘their’ customers rather than just talking about your offering.
Upgrade sales skills
Sales Team needs to be trained on a frequent basis to let them sell the products in the most innovative manner. Buyers receive numerous quotations from sellers on an everyday basis, wherein they have to narrow down the potential suppliers as per the offerings and their own budget. In such a scenario, hundreds of suppliers are giving the same offers within the budget of the buyer, so a supplier’s chance here depends upon how innovative their sales and marketing strategy is.
Social Media: The buzzword of B2B sales
The influence of social media platforms is increasing day-by-day as suppliers are reaching the buyers through them and vice-versa. Irrespective of the industry you are in, B2B is increasingly being converted into B2C, where buyers are interacting with customers to see the effect of dealing with a particular supplier, on the popularity of their products. It also reduces the interaction time and cost for both the parties. Social media has enhanced the way E-commerce can flourish and in the future it will play a much bigger role in bringing companies closer.
Consider this- Buyer A has a website that advertises the Cameras that it manufactures. This company joins a networking site and advertises about its website to attract people. As more and more people join the account of the company, the chances of a supplier being among them increase. Similarly a Supplier B, who is looking out for a buyer can advertise on such a website to find potential buyers.
The coming years will see the global marketplace become more closely knitted.  So, the buyers and sellers should keep themselves in sync with the new rules of the B2B marketplace to progress.  The traditional means of advancing your business are no longer applicable and only the businesses that continue on the path of innovation can succeed.

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Posted in B2B, B2b Marketing

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Graduating From B2B Sales Representatives To Marketers.

Posted on June 24, 2010 | Leave a comment

With the changing trends in the B2B marketplace the lines between Sales Representatives and Marketers is blurring fast. Both the divisions need to be merged into one if the Sales Reps want their strategy to be effective.

Pitching a product for sales is not enough, marketing it well to the customers by bonding with them is very essential. Sales Representatives fail to see the probabilities and the possibilities associated with the marketing through social media, labeling it as a waste of time. They need to understand the value of developing long-term relationships through little day-to-day gestures that go a long way in establishing a brand image. B2B Sales Reps can get the edge of interacting with clients in between the formal meetings just by commenting on their updates and staying in regular touch with them.

Upgrade Your Sales Skills to Networking  Skills.

Here the sales skills take a backseat and networking skills come to the fore, as it can help to establish a good image in front of the clients in an implicit manner. Traditionally Sales Reps had to push their products through advertising and promotions but now establishing an inbound marketing strategy is the action that can widen the reach of the company and help to acquire clients in a much more attractive way. Going from demand generation to inbound marketing is beneficial as it even helps the reputation of the Sales Representatives rise a notch higher in front of the clients, who usually think that they are trying to force their way into selling their products.

Moreover, they can also get valuable customer data from these websites like LinkedIn, Twitter, Facebook etc. where the customers freely post their comments about the products they are using. This helps to understand the latest trends and what customers actually want.

Technology + Efforts= Excellent Results.

Sales Representatives should also leverage on the power of technology to guide their way through inbound marketing. If properly done, this can save them the time, cost and efforts that are usually required.

What do you have v/s you have what I need.

Look carefully at this statement. It basically implies about the changing attitude of the buyers in the present scenario. In the current times, clients do not need Sales Reps pushing their way through to sell their products; they are rather comfortable with locating the things they need on the web. So if a Sales Rep goes out of his way to make the company more visible, then he has a better chance of being noticed and valued by the client. It basically increases the ways that the clients can access and evaluate your proposition.

The foremost quality that defines Sales Representatives is their ability to be an aggressive seller working to achieve targets. But most of the times, while achieving the targets, the companies fail to realize the impact of aggressive selling on their reputation. It is much better to let the sales team work towards marketing the product and developing a lasting brand image that sells. Now it is possible for even small companies to market themselves to the buyers, if they consider the social media platform to enhance their strengths. It is necessary for Sales Reps to understand that the clients go by the image of the company while considering their proposition. A company with a totally virtual set-up has more chances of being considered than a larger company with no visibility in the market.

So it is safe to say that sales skills alone do not make or break the deal, rather it is a combination of clever marketing techniques that ultimately sell a product or service.

Some tips to summarize for Sales Reps and Companies.

  • Use data from market research.
  • Empower yourselves through technology.
  • Do not say and show; be seen and heard.
  • Enhance the company’s image to attract buyers.

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Advantages Of E-Commerce Over Store Retail.

Posted on June 21, 2010 | Leave a comment

Are you still hooked up to your retail store, when on the other hand E-commerce has given an entirely new dimension to online business? If yes, then don’t waste your more time as its time to give your business an effective online presence. E-commerce has significantly taken over the traditional retail outlets; where on one front retail outlets sales increases slowly and gradually, on the other front E-commerce sales are exploding.

Why E-commerce is better than Store Retail?

  • E-commerce has made transactions simpler and easier.
  • It represents your unique corporate identity.
  • Offers efficient sales promotion.
  • Efficiently help in Brand building.
  • Easy payment system: Online payment through payment gateways and shopping carts.
  • Convenient and affordable to set up an online store.
  • Remains open 24×7.
  • Showcases a wide array of products.

As people nowadays are spending more and time online, they tend to get indulged in online shopping as well. This fact can be supported by the data of year 2009, when E-commerce grew by 9%, whereas retail sales witnessed just 2.5% of growth. And out of this 9%, the major share of sales garnered by E-commerce was due to the food and beverage category i.e. 5%. And it is further estimated by the eMarketer that E-commerce will rise up by 13% in 2010.

So, which sector do you think is most preferable for trade these days? If we weigh both the sectors, it is quite apparent that E-commerce is a single handed winner. Therefore, it’s time to establish your own online e-commerce store or site and enjoy its various benefits.

Remember to consult an experienced professional or Web Solution Company before setting your ecommerce site.

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Generating Leads Through B2B Telemarketing.

Posted on June 17, 2010 | 5 Comments

B2B Telemarketing has emerged as one of the most effective ways of managing businesses effectively. The increasing focus of businesses on telemarketing has given a boost to the telecom industry. Companies can actually capitalize this growing trend of B2B telemarketing, but before that there is a need to understand the best process to follow for efficacious B2B telemarketing campaign. No matter, whether you are handling your B2B telemarketing internally or outsourcing the telemarketing service provider, your prime objective should be to acheive unparallel success in B2B telemarketing domain.

Through this write-up, we are trying to figure out some simple steps that will assist you in formulating a plan of action for a fruitful B2B telemarketing campaign.

Define Objective

Before starting your B2B telemarketing campaign you should have a clear idea about your objective and also make it clear to your telemarketers. You should also have a rough idea about the outcome of every single call made by the telemarketer.

Prepare list of questions

Make sure that you are pre-planned with the list of questions that your telemarketer is going to ask to the future prospects. Relevancy of the questions to your offerings should be maintained for generating the interest in the prospect.

Work on backup plan

Be ready with the backup plan in case your B2B telemarketing call does not provide the desired outcome. Having a backup plan will assist you in planning new strategy for B2B telemarketing campaign in the shortest possible time.

Speak with Prospect

Now it’s time to make call to the prospect with full confidence. Remember that the goal of your B2B telemarketing campaign is to create interest among the prospects about your offerings. Your telemarketer should ask relevant questions and must provide brief but clear information or benefits of your offerings. Ensure that they are able to convince the prospects otherwise the prospect will not continue the call.

Ask Questions

Ask prospects about their needs and answer to their queries before making a proposal of sale. The answers given by the prospects will help your telemarketers in understanding the positives and negatives of every telemarketing call they made.

Close the sale by setting an appointment

The most important part of a B2B telemarketing call is to discuss only about the features of your offerings and how they can benefit the prospect. If your telemarketers are ending the call with appointment or follow-up, make sure that they will get some sort of commitment from the prospect for future interaction.

Along with these simple tips, also ensure that your telemarketer is not getting nervous because of the prospect’s silence. Prospects silence can also be a positive sign as he might be thinking about whether he should fix an appointment with you or not. Your telemarketers’ interference could result in the disruption of positive response from the prospect.

Following these simple steps will surely ensure success of your B2B telemarketing campaign. This will help in fulfilling your goals, which you have set for the growth of your business.

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Posted in B2b Marketing, Business Leads, Telemarketing

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The 12 Most Common Lead Generation Webinar Marketing Mistakes

Posted on June 14, 2010 | Leave a comment

The lead generation webinars organized by the companies provides beneficial results to your business. This statement is true and no question can be raised about it. Bit, still there are some drawbacks in the marketing strategies because of which, businesses are not able to make most out of lead generation webinars. Hundreds of advanced strategies have been introduced that can boost the response, depreciate the lead cost and even increase the quality of the leads. But before you enter it make sure the foundation of your webinar is in right place.

Even though, you have done lot of research work and invested large amount of money in organizing a webinar; still there are some common mistakes that most of the companies make in their trade lead generation webinars. We can break these mistakes in three different categories for your better understanding:

√ What should happen before webinar?

√ How to deliver your webinar?

√ What steps should be taken after the completion of webinar?

Here, we are mentioning 12 common mistakes made by the entrepreneurs while organizing a lead generation webinar.

Mistakes before lead generation webinar

1. Not offering webinar to the diverse segment of customers

If you wish to generate good leads through your webinar, then segment out your market and design specific webinars for different sections of customers. Your targeted attention towards them will make the attendees get better involved in your business.

2. Choosing dry topic

Dull and boring webinar topic decreases your chances of success even before it takes place. The topic you choose should be attractive and able to generate immediate response from the prospects, so that register for it in the first place. Don’t go for common topics, be different and stand out in the competition.

3. Not surveying prospects once the registration is done

Surveying your prospects after registration leaves positive impact on them and also enhances their eagerness to be a part of your webinar. If you are not doing this, then you are making a big mistake. By surveying them, you will get the idea about your attendees, which will help you in tailoring your presentation as per the specific needs of the prospective customer.

4. Not preparing handouts

Providing handouts to the prospects before webinar shows your involvement and effort in webinar. This also generates curiosity among the prospects to know more about our webinar. Your handout gives them a bit of information that creates interest in your prospects.

5. Not using video before the event

Use video during the registrations and before the webinar for reminding your prospects about your webinar. There is a possibility that they might forget about your webinar so keep your webinar date fresh in their mind by making an interesting video.

Mistakes that disrupt your delivery

6. Being boring

Organizing a webinar is not a big deal, but selling on them is what matters a lot. Entertain your audience for turning them into quality leads. Make your webinar interesting that will not only entertain but completely engage your audience.

7. Having “me” content

This is the most common mistake, no matter how big your company is; the webinar you have organized is not about you or your company. It is about your audience and their problems. Talk about their issues ant not about your company’s achievements.

8. Reading from your slides

The slides you use in webinar are meant for recapturing the attention of your audience not for reading the whole thing from them. This leaves a wrong impression on the prospects. Instead of reading from slides you can use them for graphs, illustrations etc. Pose questions to make your webinar interactive.

9. Not having enough testimony

Most of the people look for reasons not to buy your offerings. Provide them with the proofs about the effectiveness and excellence of your offerings. Make it hard for them to resist your offer.

10. Not defining a clear course of action after the webinar

Instead of ending your webinar with a statement like “for more information and business related call at our office”, give your audience a clear path to follow. Try, call them out specifically and understand their queries.

Mistakes that waste all the effort you have put in lead generation webinar

11. Not having an effective follow up process

Thinking of handing your leads to the sales person means you are missing out on lots of clients and potential profits. The end of your webinar should trigger a series of follow ups through various mediums. Hit your leads at their area of interest and stay in front of them.

12. Ignoring non buyers

It is not necessary that everyone will buy at the first point only. Some prospects may show interest in your offerings at later stage, so don’t ignore them. Ignoring non buyers at webinar means you are missing out huge profit potential. Develop a well-planned follow up process and eventually convert non-buyers into buyers.

Avoiding these common mistakes will not only make your lead generation webinar marketing a sure shot success; but also provide you a strong stand in the market as a reliable and successful business entity.

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Grow Your Business With B2B Portals

Posted on June 10, 2010 | 1 Comment

Are you looking forward to grow your business through internet and still not aware of the existence of B2B marketplace? Then you are missing out on a great opportunity of extending roots of your business to the global market and taking your business to the next level of success. No matter whether your business is small or big, B2B marketplaces prove to be an effective medium of business expansion.

What is a B2B portal?

Before going ahead with the topic it is necessary to understand what exactly B2B stands for. In simple terms B2B refers to an online business platform where buyers and sellers from every corner of the world come together for carrying out productive business transactions. The main concern of such B2B portals is to provide venue to the businesses for participating in online business processes.

Benefits of B2B Portals for Buyers and Sellers

B2B portals ensure to provide maximum benefits to the buyers, sellers, service providers and other participants in terms of cost and productivity. Some of the key benefits of joining a B2B portal are:

1. Automates the procedure of purchase

With the help of B2B portals buyers can instantly contact the supplier for requesting quotes, receiving quotes, sending purchase orders, etc. With this you not only save transaction processing cost but also bring efficiency to your business.

2. Reduces the time cycle required for sourcing

B2B portals allow you to make your own choice as there are numerous suppliers and send your purchase order in a just a single click. You also get instant access to the answers, quotes, invoices, etc. that you have received against the purchase order. This also reduces your time required for processing the documents.

3. Instant access to product information

B2B portals provide customers an instant access to get updated information about the products and services they are searching for. Online catalogs are the best source of gathering information about the offerings.

4. Develops new sales channel

Once you become a part of B2B portal, you open gates for low cost sales channel for your business, which is highly functional and appealing to the customers. You get to expose your business to the new audience and target consumers in a more efficient manner.

5. Efficient information sharing platform

The best feature of a B2B portal is that you can instantly update the information about your offerings without shelling much from your pocket. B2B portal also helps you in sharing the information about newly launched products.

6. Improved customer service

The constant interaction with customers provided by B2B portals play a significant role in serving your customers efficaciously. Easy tracking of all the processes of supply chain from order processing to delivery and payment brings efficiency to your customer service.

Through this write-up, we have tried to bring forth some of the key benefits of B2B portals that will help your business grow in an effective manner. We hope that now you have understood how advantageous it is to be a part of a B2B portal in order to acheive unparallel growth of your business.

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Marketing And Selling To The Affluent

Posted on June 7, 2010 | 1 Comment

Affluent is the group that is least affected by an economic turmoil and also is always ready to spend. Although, their style of spending has changed, still they spend the way they want to. If you are marketing and selling to the affluent and wish to continue the same or want to expand your business then you need to pay an extra attention to the changes in their spending habits. Understanding the perspective before formulating a marketing or selling campaign is important for establishing your business among the affluent.

Following are certain commandments for affluent selling and marketing that will help in the perpetual growth of your business.

Be totally committed

As the affluent or we can say your target customers are committed to what they do, so you also need to be committed to them and show involvement in what you are offering and willing to sell them.

Be as advertised

As we know that affluent is a bunch of cynical people, so it’s better to be everything you advertise in your marketing campaign. Right from the features and benefits of working with you to the promises you make should be genuine and reliable: all should be followed. Do not forget that you are the product and whatever you do for selling is congruent to advertising.

Be a problem solver

Solve the problems of the affluent efficiently and to their maximum level of satisfaction. Creating an image of a solution provider to their various financial affairs makes you a quick and a professional advertiser.

Act as a trusted source of information

Develop an image of trusted information provider with the in-depth knowledge about your offerings as well as of your competitors. There is a possibility that a prospect might not buy your product but would like to gain information about the same. The more reliable information you provide more you brighten the chances of transforming the prospects into customers.

Disclose all costs

It is believed that affluent customers are skeptical and don’t like surprises when buying something. They become reluctant to any form of hidden costs and are always willing to know exactly about what they are going to pay. Disclose all the costs to the affluent when you reach the point of sale.

Be aware about your reputation

The personal reputation of your marketing executive plays as important role in their professional field. They can build this reputation with one client at a time by taking them as a centre of influence or strategic alliance during that specific period.

Following these simple directions, will definitely assist you in thriving in the affluent world. You will not only mark your presence but also build a brand image in the affluent market.

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Benefits of Right Technology That Takes Your Business To The Next Level

Posted on June 3, 2010 | 2 Comments

Nowadays, business owners have to face a lot of challenges for achieving high growth rate. In recent years many technologies have been developed for helping out entrepreneurs in their business ventures. The change in technology has also affected the way businesses use to operate including the customers as well. New technology has given strength to the business for taking up new challenges. BUT…. What is important is to choose a right technology for your business. Although there are various benefits of technology that have changed the face of businesses today, but here, we are mentioning some of the prominent ones, which prove that a right technology can take your business to the next level.

Increase in Productivity

Invention of various technologies has boosted the productivity of all types of businesses. Most of the entrepreneurs have agreed that with technology they have doubled their production rate that too with less man power. With this, they have not only increased their production capacity but also made the process cost-effective by investing less in labor. Improved productivity without any cost increment leads to efficient customer service.

Efficient Data Storage & Management

With the help of technology, maintaining large databases have become easier for the businesses. The automation of data storage work has reduced the tension of dealing with tedious paper work and also keeping it safe for a long time. This easy way of accessing data provided by the technology, has enabled the companies to maintain precise sub-division data of their customers that further help in targeting them with customized advertising.

Escalating Growth Rate

Technology has provided platform to the businesses for expanding their trade from conventional sales to e-commerce trade. Through this, you can also reach the international markets without shelling much from the pocket.  E-mail, another tool of technology enhances the chances of building relationships with the customers on timely basis. It allows customers to get access to the quick results about your offerings.

Opens Gates for Globalization

Internet, e-mail, video conferencing etc. are some of the latest technologies that allow your business to work with anyone, anywhere across the globe. With the emerging use of e-commerce solutions, you can easily make financial transactions in real time with complete authenticity. This enables your business to operate on a broader scale and take it to new heights of success.

If you want your business to grow, this is the right time to make investment in technology. This will not only benefit your business in a broad way but also make your employees more efficient, productive. So, get ready and take your business to the next level.

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