6 Fatal B2B Sales Mistakes You Must Avoid
B2B sales can be incredibly rewarding and lucrative -- if you know what you’re doing. Unfortunately, most salespeople in this field make the same few mistakes again and again. When everyone around you is making the same missteps and blunders with B2B selling, it can be extremely difficult to know how to fix your approach.
If you’re looking to overhaul your strategy for B2B sales so you can start to crush your competition, it’s time to start actively avoiding the most common B2B sales mistakes out there today. Here are the six fatal B2B sales mistakes you’re probably making:
1. Selling to low-level buyers.
It may be easier to get in front of buyers and purchasing managers than C-suite prospects, since you never have to deal with a gatekeeper in order to reach them. But those low-level buyers don’t have the power -- or the budget -- to tell you “yes.” In fact, they’re only really good at telling salespeople “no.” You won’t make money selling to low-level buyers in B2B sales, so make a commitment to seek out high-level decision makers who can actually say “yes” to what you have to offer their businesses.
Related: Want to Make Your First Sale? These Entrepreneurs Share How They Did It.
2. Highlighting your product’s features and benefits.
There was a time when prospects cared about the features and benefits of your product. But they simply don’t anymore. Prospects today only care about the results and outcomes you can create in their world. More specifically, they want to know how you can solve their key challenges and deepest frustrations. Instead of highlighting your product’s features and benefits when selling to businesses, focus on specific outcomes your product or service can help your prospects achieve.
3. Giving proposals with only one option.
One of the biggest mistakes salespeople make in B2B sales is putting together single-option proposals. There are two major problems with these proposals. First, they don’t provide any context, which compels prospects to shop around to determine the value of your solution. Second, customers who really want to invest in a premium option will be limited to a lower-tier solution. Instead, provide a three-option proposal -- ranging from the lowest end option that will still solve their problem to a higher end option with the most value -- to boost your average sale size and the number of deals you close.
Related: 7 Tips for Getting More Sales Meetings With Prospects
4. Relying solely on the phone and internet.
There’s been a big movement in B2B sales towards selling online and on the phone. In some cases, this can be efficient and helpful, but if you’re selling an expensive, high-end product or service that requires a serious investment, you simply can’t skip out on meeting face to face. Hop on a plane if that’s what it takes to sit across from a valuable prospect. You’ll increase your close rate many times over, and being able to close big deals at huge companies is well worth the cost of travel.
5. Failing to clarify your value proposition.
Every time a B2B prospect asks what exactly it is that you do, you should have a quick and rehearsed response that succinctly describes the value you create. Clarify, script out, and memorize your value proposition. This is the only part of your sales presentation you have to memorize, so there’s really no excuse for hazy, rambling answers to this question.
6. Rushing to offer deals and discounts.
Low prices only attract bad prospects in B2B sales. Your ideal customer cares about value, not price, so quit offering deals and discounts. It only lowers your value in the eyes of your prospects. Instead, focus on the value you create, and be proud to offer the premium solution on the market. This attitude will attract the type of customer who values you for years to come.
Related: 6 Strategies for Avoiding the 'Race to the Bottom' Price War You Don't Want to Win
Which of these mistakes have you been making in B2B sales? How will you correct your mistakes and start crushing your sales goals? Check out this free Ultimate 3-Step Prospecting Call Template for more powerful sales advice.