How to Keep Closing B2B Deals Amidst the Pandemic

Until the pandemic is over (and maybe beyond that) businesses must adopt new strategies to close sales deals.

How to Keep Closing B2B Deals Amidst the Pandemic

Covid-19 has greatly impacted every part of the business sales cycles, creating a myriad of new challenges for sales teams. To weather the storm, businesses have to adopt new strategies. Here are some tactics that will help you to keep closing deals in these difficult times.

Improve Your Prospecting

Prospecting is one of the most effective ways to increase sales. Face-to-face sellers will need to maintain their effectiveness remotely, maybe even double down on their efforts.

When it comes to turning prospects into paying customers, trial and error is the only way to figure out what works. Focus on prospecting methods that work for you without ignoring the others. Analyze the results from your prospecting methods and focus on the one offering the best returns. However, if a rep is great at cold calling, it does not mean they should neglect social networking, email marketing, and direct mail. Investing in the right skills, activities and processes will save time while also maximizing numbers.

Understand Each Customer’s Financial Situation

During the pandemic, customers are likely to empathize with businesses facing a crisis as long as you can communicate with them properly. Businesses should also be willing to do the same. You should understand that the prospect’s customer directly impacts your sales cycle.

If the prospect’s customer is doing well financially, your prospect will be more likely to buy from you. That said, the key lies in understanding how your prospect’s clients have been affected.

For example, if your business sells software to a prospect that sells to theme parks, your prospect’s customer is possibly struggling right now, so your prospect is less likely to purchase right now. You can then focus on the deals that you’re likely to close. If you are unsure about how your prospect’s customer is faring, feel free to ask them.

Upgrade Video Presentation Skills

There has never been a better time to brush up on video virtual presentation skills. Virtual B2B sales pitches are an essential part of business nowadays. The first step to a successful sales pitch is an awesome sales presentation.

Also known as a pitch deck, this is a 10- to 20-slide presentation detailing your business and what you offer. While a killer sales presentation will help your reps close some deals, it is futile if they are not prepared. Reps must research the prospect. And they have to know how to operate the software they will be using.

Speaking of software, ensure your team is using high-quality video conferencing software. Since prospects will not be able to read body language, they will be paying attention to the reps’ voice, so be sure they practice their tone of voice. Finally, everyone appreciates a well-paced virtual sales presentation, so reps must use their time wisely.

Use Empathy: Converse Rather than Present

There is nothing wrong with presenting – except that you are presenting. Nobody likes being presented to, people like conversing.

When delivering a sales pitch, your rep should be sure to engage the prospect. Asking the prospect the right questions is key to understanding their situation and tailoring the sales pitch to meet their current needs. It is great because 69% of buyers today would rather listen to someone who minds the success of their business.

Yes, offering a temporary discount or throwing in a premium feature for free will surely eat up your allowance. However, if you can complete a deal (even at a discount) it is a win for everyone. They are getting what they want at a favorable price during these trying times while you are still making sales. You will also get long-term prospect loyalty.

Double Down On Key Accounts

One of the main differences between extremely successful companies and the rest is their account management strategies. In business, your key accounts are the customers you cannot afford to lose.

A good account management strategy entails figuring out your most valuable customers then making them even more impactful on your bottom line to avoid stagnation in your business growth. During the covid-19 pandemic, sales teams should focus on account-based marketing initiatives to protect existing revenue and relationships with key accounts.

It involves finding out how much a business currently is worth to you and establishing short-, medium- and long-term goals with the specific client. Proceed to formulate an account management framework and execute your account management strategy. Despite the challenges businesses and clients are faced with during the pandemic, your relationship with these clients should take center stage.

Remote B2B sales is a skill that requires practice. However, just like with everything else, practice makes perfect. Do not stop testing your tactics and developing your sales strategy. The pandemic will eventually come to an end, but that does not mean you should slacken your efforts and wait for better days. You still need to close the deal!

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    Eduardo Litonjua is an innovation consultant and blogs about making money online on Passive Income Tree.

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