In B2B, Salespeople very often sell by building a strong network of relationships with their customers (sourcing and purchase managers), where Product and Price played a key role in getting the sales done.
Purchasers know very well what they want and after trying out a few suppliers, settle down for one or two, often on price. While future negotiations are often on price and supply assurance.
The cost advantage of this model for purchasers was so good that they very often ignored or didn’t pay for value-added services like better customer services, Product expertise from suppliers to name a few.
Suppliers too were quite happy with the assurance of periodic sales of goods or services and will only focus on playing with price of the product rather than adding value to the goods supplied through services.
This was all driven through the interpersonal skills of the salespeople during their face-to-face meetings with purchasers; battle-hardened to handling customer objections or rejections often through various sales methods.
An integral part of these sales methods is influencing the purchaser through persuasion – using product value propositions, though often pushed and driven by leveraging the “relationships” built over the past sales and ‘trust’ by maintaining the stability of price and supply.
While COVID has not threatened this tried and tested model of selling to existing customers; at least for now, but with limited or no physical meetings it is becoming increasingly difficult for salespeople to find new customers.
Traditionally new customers were found through a physical meeting at their office, trade shows, or at an unlikely place like at a bar, sports club, etc. frequented by purchasers.
With COVID abruptly stopping the physical movement of purchase guys and organizations restricting the travel of their non-essential staff, it is getting increasingly difficult for salespeople to find a new set of customers.
This is having a direct impact on increasing the market share, cross-selling, price negotiations, etc., or more importantly filling up the erosion in market share for various reasons. Forcing many salespeople to venture out and meet customers despite the raging pandemic.
While some resorted to the old B2C sales playbook of cold calling / emailing, texting, etc but with poor results.
In the past to drive these initial discussions salespeople used offline marketing content, interpersonal verbal and non-verbal skills, references, competitor bashing, etc to name a few.
On a phone call, email, text, or even on a Zoom call they are crippled by their inability to practice these offline sales methods.
At the heart of this problem is not the change in route to market from physical to digital but change in how sales leaders enable their Teams with the needs of Digital selling.
This will necessitate the complete overhaul of the B2B Sales and Marketing process, and will eventually shift some responsibility of P&L towards Marketing from the Sales Team. They will have to take higher accountability (and not only responsibility) for supporting salespeople and their targets.
Marketing will need to step up and align content strategy with Digital channels to generate awareness and interest among new and existing customers.
This can only happen if Content Marketing becomes the topmost priority of the Sales and Marketing function and is deeply embedded in the brand plans.
On the other side of B2B sales, purchase managers are also changing. They are asking for on-demand information at their time and place. Often profile sellers before they talk to them.
Therefore content needs to be brief and easy to comprehend and consume, And fast enough to deliver instantly.
While it’s too early to make a call but this could result in a tectonic shift in B2B deals, where content will play an ever more important role.
What changes are you observing in the B2B Sales and Marketing?
Originally published on LinkedIn here
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