Future of B2B Sales
B2B sales and the impact of social media, data, connectivity, and technology are bringing a step change in how companies sell. These changes will help companies take a giant step that will take them way beyond all the traditional selling tactics.
B2B sales are about to evolve like never before by embracing the advantages digital technology provides. In fact, leading companies are already pulling away from their peers in both sales growth and sales productivity improvement.
Future of B2B sales
There is no doubting that B2B buyers have moved the selling goalposts as they seek out information and content on products using the internet and social media.
This has led to a rise in challenges for sales leadership, challenges such as:
- Re-evaluating their products and services to meet buyers changing habits
- Combating new entrants, alternative business models, and pricing pressure
- The acceleration of commoditization and substitution due to buyer education
- Far greater transparency and increase in buyer purchasing knowledge
- The shift in seller-buyer control in favor of the buyer
The reality is that dealing with these challenges in B2B sales is here and now, but also that they will become more magnified in the near future.
If we add in the buyer’s preference for subscription-based models then the challenges listed above become even more pronounced, leading sales leadership to rethink how they go to market and engage with customers.
The Future Focus in B2B sales
Research into B2B sales practices being deployed by leading companies has found that they focus on 3 core strategies.
Strategy 1: Making the buying process easier.
This applies as much to the more complex sales as it does to selling commodity type products. Leading sales organizations are focused on making their product offerings, sales touch points, access to information and internal systems as easy as possible for customers and prospects. Acknowledging the change not just in buyer’s preferences but also buyer profiles (millennials are becoming the largest demographic in B2B buying), the sales interactions need to be more rewarding, informative and fulfilling.
Sales leaders are seeking out a sales strategy and methods to maximize sales touch points to improve the value buyers receive by make the sales process:
Transparency. Buyers are demanding a more open approach to purchasing, so companies will utilize new sales tools, new systems and processes to deliver a far greater transparent sales experience for their customers. The added bonus for the sales organization is this change can result in a more leaner and more flexible sales force.