The B2B industry in the United States is estimated to be worth around $6.7 trillion dollars. And with new startups launching B2B solutions every year, that number is set to become even higher in the near future.
But despite the industry being on a clear upward path, the competition is becoming steeper as well. Not too long ago, finding a niche and building a loyal following only required an innovative idea. Today, you must also have proven strategies you can use to facilitate your growth and ensure a consistent upward trajectory.
But how can you grow your B2B sales? And which strategies should you prioritize?
Let’s explore some of the most effective strategies you could use below.
Take Your PPC to the Next Level
Pay-per-click advertising remains one of the most effective methods for B2B brands to reach their target audience. With today’s PPC tools, you can zero in on your ideal customers and provide them with a timely offer that gets them exposed to your brand, interested in your products, and into your sales funnel.
But because the PPC space is changing at a rapid pace, you need to ensure that you’re using the best practices available today. And that’s why hiring a Google PPC agency can be one of the smartest investments that you make.
With the help of a professional agency, you can get a fresh set of eyes to take a look at your current PPC campaigns and evaluate whether there’s anything that could be improved upon. And if you hire a reputable and experienced agency, chances are they’re going to have innovative solutions you could try out that you wouldn’t even have considered otherwise.
At the same time, a PPC agency can help you develop a more structured approach to your paid ads efforts, creating a sustainable long-term strategy that will gradually improve results and provide you with a significant edge over the competition.
Streamline Wholesale Processes
B2B wholesale can be one of the most appealing avenues for B2B brands to explore. The higher order volume, average order value, and predictability of long-term sales make it a lucrative opportunity to expand your reach and drive sales at a rapid pace in the process.
But finding B2B partnerships isn’t easy. If you don’t have the necessary networks, it can take years to break into wholesale markets and find brands that want to work with you. And that’s why it makes sense to utilize a B2B wholesale marketplace, which is designed to connect businesses looking to partner up, offering you countless opportunities to boost sales.
When you know the demand for your products in advance, you can become better at controlling the supply, reducing costs, and expanding your margins in the process.
Understand Your Customers
One of the biggest differentiating factors in the B2B world is the ability to cater to the unique needs of your customers. Only by understanding the preferences, needs, and habits of your audience can you find ways to separate yourself from the competition and carve out a space in even the most competitive marketplaces.
And the only way to get actionable and accurate information about what your customers think is to talk to them directly. Sure, you can compile data by analyzing online posts, reviews, and discussions, but that will only get you so far.
When you take the time to sit down with your customers for interviews (or online video calls), you get not just specific answers but can also take the talks in the direction that they are heading, asking interviewees to expand on their answers and gaining invaluable voice of customer data as a result.
Empower Your Sales Team
It’s impossible to achieve long-term success in the B2B world without a strong sales team. B2B sales cycles are typically much longer than B2C, requiring more back and forth with prospects until they are willing to commit. Your sales team needs to be able to provide personalized solutions and overcome objections prospects will have, so they can be the difference makers in how well your business does.
A great sales team can take a mediocre lead and turn it into a sale consistently. Meanwhile, a poorly-run sales team can have the best leads and allow them to slip through the cracks and go to the competition.
One of the most important aspects of empowering your sales team is providing it with adequate training. You want your sales team to understand the current best practices of the industry, continually improving and refreshing their skills to have the best shot with each prospect.
At the same time, you want to identify the most innovative sales tools available today and provide your team with the best possible resources to achieve success. The less time your team has to spend on manual repetitive tasks, the more time they can allocate to working with clients directly, which creates the most value for your business.
Improving B2B sales is a top priority for any company. But even though there are plenty of approaches you could take, not all of them are equal in terms of the results you are likely to get.
The strategies above should have been proven to be an integral part of B2B sales growth, and therefore should definitely be considered as part of your plans.