If you're in business-to-business sales, then you know how tough it can be to close deals with successful, powerful prospects. Prospects in B2B selling can be pushy--and the stakes can be incredibly high for you and your company.
The following 5 blunders could be why you're losing major deals. If you want to dominate your competition in B2B sales, it's time to eradicate these deadly mistakes from your sales approach:
1. Avoiding face-to-face meetings
You're asking customers to invest a lot in your product or service. So, it stands to reason that you should go out of your way to meet them in person. Far too many salespeople actively avoid face-to-face meetings, instead opting to go through the sales process via phone calls and emails.
If you truly want to close more sales, you need to buy a plane ticket, get in your car, or hop on a train to meet with your prospects face-to-face.
2. Backing down on premium pricing
When you're dealing with tough customers, it can be tempting to back down on your prices. But when you lower your pricing, you undercut your value in the eyes of successful prospects. You're actually more likely to close big sales if you stand behind your premium pricing.
3. Only offering one-option proposals
If you've made it to the proposal stage of a B2B sales situation, that's a great sign. However, make sure you don't ruin the sale with a poorly conceived, one-option proposal. It's important to give your prospects at least three different options in every proposal.
Present an inexpensive option, a slightly pricier option, and a premium option. This approach gives your prospects context for each option and encourages most people to choose the higher-end solution--while discouraging them from shopping around for more options.
4. Not asking enough questions
This is one of the biggest mistakes salespeople make in B2B sales. If you don't take the time to ask about the company's challenges, goals, and frustrations, then you'll never be able to craft a compelling solution.
Focus on asking deep-dive questions that get to the heart of what your prospect is dealing with--and how you can help. Don't stop asking until you truly understand what's going on in your prospect's business.
Try asking the following questions in particular: "What's the biggest challenge your business is facing right now?" and "What does this challenge cost your business in actual dollars?" The answers will give you tons of information about how to best solve your prospects' challenges, and what they're willing to invest in your solution.
5. Failing to clarify your value proposition
If businesses can't immediately recognize the value you bring, then they won't buy what you're selling. It's as simple as that. Show your prospects that you're creating value for them, up front.
Practice communicating your unique value proposition so you're ready to demonstrate your value in any selling situation. Keep practicing until you have a compelling, quick response for whenever someone asks you: "What do you bring to the table?"