Our personal and professional lives are increasingly reliant on technology, and with all kinds of exciting new developments constantly in the works this isn’t going to change any time soon! Like many other entrepreneurs, you may have seen the massive potential in starting a B2B tech venture, and selling handy modern solutions to those who would benefit from it. While there’s certainly a healthy demand on business tech tools, selling them successfully takes a certain approach. If you’re planning to jump into this niche and turn a healthy profit, here are a few proven tips for successful selling.
Place Emphasis On The Transition
There are a lot of things which will dictate the overall value a new piece of tech can offer the buyer, but one of the biggest factors is how quickly and easily the organization will be able to implement it. It’s easy enough to list the features and functionality of a piece of tech to the buyer, but they’re going to have one big question hanging over their heads: is this tech going to be a hassle to implement, or a breeze? No matter how complex the transition actually is, it’s integral to present your product in a way that assures the buyer they’ll have few problems getting the product or tool up and running in a short space of time. By showing your target market a concise change management strategy, you’ll find it much easier to get prospective customers moving along with the sales cycle. Another good way around this is offering resources for teaching employees about a new piece of tech, like these Polycom training videos, for example
Don’t Get Too Caught Up In ROI
Naturally, you might feel inclined to flaunt the ROI of your tech when you’re trying to get buyers on board. While this is certainly going to be a deciding factor for any business owner who’s thinking of buying your tech, it’s important not to get too caught up in it. The issue with marketing that’s based around ROI is that it’s all founded on assumptions, and your customers know this. Obviously, when flaunting ROI, you’re going to give the best-case scenario, which can be perceived by a lot of customers as slightly unrealistic. Instead of getting too caught up in this one metric, put forward a case that balances it out with other important metrics. The adoption rate is an obvious one, as your customers will certainly want to know how many people convert to the use of your tech product in a given space of time. The utilization rate is also very important to consider, so let your prospects know how frequently your tech is used compared to a previous solution. The function penetration rate – how many of the tech’s functions actually get used by customers – can also be a big marketing ploy. Your target market is going to be experienced enough to know that these factors will be very important in the overall case for buying. Avoid getting caught up in the ROI of your tool, and you’re sure to see improvements in your own!
Strong IT Team
Do you make the most of your business potential? Do you hire skilled specialists who can work wonders for your client? Are each and every of your projects something to be proud of? What can you do to work even better? Those questions are often asked by many entrepreneurs.
And, as long as there are many answers for them, a lot of managers choose outsourcing as the ultimate solution to their needs and problems, mapping out their path to success.
Outsourcing allows you to build a mighty team for any project in no time. You can access experienced professionals and benefit from their knowledge and management skill set while you still can focus on your core business process and take care of other sides of managing a company. You don’t need to hire extra people or spend hours on recruitment projects of a temporary team you may not need in a few months. Outsourcing can be for support only, but for many companies it is something more – something they can?t imagine running a business without, a permanent yet distant upgrade to their offer.
To be successful with outsourcing, you need to understand outsourcing lifestage cycles and find a reliable business partner for a selected kind of outsourcing. It is possible to end up disappointed, but as long as you work according to some rules your cooperation is likely to go as smooth as possible.
Know Your Customer’s Business As Well As Your Own
Talk to any experienced marketer, and they’ll tell you that one of the most important aspects of selling anything is knowing the person or entity you’re selling to like the back of your hand. This is a given for selling any kind of consumer product, and you should be applying it to selling your tech solution too. The higher-ups and decision makers at the business you’re targeting don’t want to feel like they’re getting a cookie-cutter sales pitch. They want to feel special, talking to sales reps who obviously understand the kind of problems their company is facing, and are able to bring straightforward, reliable solutions to the table. When you’re reaching out to B2B clients directly, it’s pretty common for the execs to feel like they’re doing you a favor by taking time out of their day to hear about the tech you’re selling. If the pitch feels like it’s being read from a catch-all script, you’re not going to get anywhere fast. By personalizing each sales pitch to the individual client, you’ll be able to ensure that your leads are much more receptive to the idea of your product, and more likely to convert.
Address Their Fears
At the end of a pitch, you’ll obviously open the floor up to questions. You’re likely to get a range of technical and business questions which could increase their understanding of the product, but may not necessarily affect how likely they are to make a purchase. In a lot of these situations, you have to ask the harder questions for the prospect, addressing their biggest fears and getting them out of the way as swiftly as possible. Some of these questions include: Where have there been previous issues with the implementation and why did these happen? Has an even worse situation ever come out of your technology, and how can this be prevented? Which of my departments will have the hardest time implementing your technology, and what can I do to assure an easier transition? These queries are pretty much universal for any new B2B technology, and I’m sure you’ve had to chew them over yourself at one time or another. However, there are probably going to be a whole host of other fears which will be niggling at your prospects mind, based on the specific function and features of your tech solution. The longer these are left to fester in a lead’s mind, the less likely they’ll be to ultimately convert. It may be hard, but try to put yourself in your prospect’s mindset, and think about any major worries they might have regarding your technology. Boil this down to some concise points for your pitch, and you’ll have much greater success.
If you were having trouble formulating a sales strategy for your tech product, work through this post for one that will pin down those sales!