Today’s selling strategies and tools change at the speed of light, and as the B2B industry continues to grow exponentially … only the survival-of-the-fittest salespeople will thrive. It is crucial that salespeople learn how to adapt to new buyer behaviours so that they can navigate through the sales process and close more deals.
Prospecting and closing deals has been the biggest problem area for B2B salespeople in generating business today.
Below are a few prospecting challenges (lead generation) faced by B2B sales executives on day to day basis:-
Major Prospecting Challenges
Creating a targeted prospecting strategy
Creating a targeted prospect strategy is vital to avoid wasting time, which is why it is the first prospecting challenge.
Every week, sales executives must dedicate time, on routine basis, in growing their leads portfolio.
Sales enablement can give sellers better visibility into their target prospects and the issues they face, by laying out the groundwork for developing an executable strategy.
Quality of leads from marketing
Sales and marketing need to work together to define what the standards are for a quality lead, so that marketing can identify them and help sellers connect with the right prospects at the right time.
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Getting prospects to agree to a meeting has become more and more challenging. Doing research and understanding industry challenges and relevant messaging will lead to successful prospecting efforts.
Major Prospect Objections
This is the very first stage to get past with any prospect. When prospects say they have no time, they are probably honestly busy. The thing is there is not a single person on this planet who is not busy.
In essence they are saying working on other things and meeting with other people is more important than meeting with you or buying from you. If you can’t get prospects to give you a second of their time you won’t ever be able to sell to them.
No interest can show up in many different forms, conversations where the prospect is not engaged and is acting closed, prospects that won’t return voice mails and emails, the prospect acts bored or distracted when you meet with them, or prospects that are very abrupt in their responses to you.
No interest can also be the reason the decision maker procrastinates or defers the decision. If someone differs a decision that means they are not excited about making a decision. If the prospect is not excited, you have not done your job as a marketer or salesman.
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This problem really comes down to marketing and is simply when the prospect sees no difference between your product and the competitors or they actually prefer the competitors.
The extra frustrating part is you may actually have something that is truly different than the competition, but if your prospect does not see this and perceives things incorrectly in a way that they think there is no difference, you will still have the same problems.
Having something different and better than the competition is not enough, your prospects have to think you are different. When there is nothing that makes you better than the competition, why would anyone buy from you? If you have this challenge you will only make sales when people are unaware another alternative exists.
You want your offering to stick out like a sore thumb as being different when compared against your competition.
When your prospects have no belief it can show up in many different forms.
The first is that they don’t believe your product is any good and actually think it is junk.
The second is that they don’t feel listened to and do not believe you will listen to them in the future after they decide to buy from you.
The third they think their is too much risk or in other words they don’t trust you. Either they don’t trust you as a person or they don’t trust that your company or product can deliver on its promises.
The fourth they believe everything but they have specific product objections where they believe a certain feature of the product will not meet their needs.
The fifth they don’t believe they need your product as they are doing fine without it and finally the sixth they don’t know what you do because you have an unclear value proposition.
If you are not getting a decision from your prospect it could be because they are just being polite but they have no belief. There are times though where the prospect has belief but they just don’t make a decision.
This can happen because they are just not in the buying mode yet, they are still in the gathering information stage. In many businesses, buyers are required to gather a bunch of information before they are allowed to make a purchase. Therefore if they don’t have all the information they need they won’t make a decision.
They could even have all the information they need from you and not make a decision because they are waiting on more information from another potential supplier.
The other reason this could happen is because the project is being led by a subordinate and not a superior, which means if the superior is not ready to buy or not interested to buy, there will be no purchase in the near term.
Finally the other option is that they have not made a decision because you have not asked them to make a decision or have not asked for the business. This is one of the four most common sales mistakes.
No Easy Way To Buy
If people want to buy from you and become frustrated during the process they will abort the buying process before they complete it.
Similarly if they don’t know where to go to buy, they will eventually give up trying to find out where to buy and buy from someone that it easily accessibly.
Finally, if the buying process will take too long to complete or too long for the product or service to be delivered, the prospect will go to someone that is faster.
Prospecting and closing deals may be the greatest challenge, however, there are solutions to solve them. With the right combination of strategy, communication and technology, salespeople will be able to develop meaningful dialogue with prospects, accelerate the sales cycle and close more deals.