Business-to-business (B2B) sales are more than just a transaction; they require intricate sales strategies to convince all parties involved in the business. There are four basic categories when it comes to B2B sales: producers, resellers, governments, and institutions. To successfully close deals and meet quotas, it is important to understand the different types of B2B buyers and their personalities. Miller Heiman Group introduced strategic selling, a tactic that focuses on helping companies achieve complex agreements with a scalable, knowledge-based approach.
This strategy focuses more on the needs of the potential customer than on the actual process of selling the product. Account-based selling is another strategy that requires enough data about existing customers or your target market to identify their common characteristics. It is approximately 90% of prospecting for information and 10% of presenting the solution. Social selling is a tactic of first establishing your business in the defined target market and then focusing on building relationships with prospective companies as the first step to selling.
It focuses on building relationships first by connecting with potential customers and selling later. The Economic Buyer's biggest concern is to boost return on investment and stay within or under budget. This type of buyer considers examples of work done for past and current customers, and seeks case studies that demonstrate the ROI of a solution. They need to know anything and everything that could affect their bottom line.
The buyer user is primarily concerned with the overall customer experience and the impact of the transaction. The technical buyer wants to get into the feasibility essentials and specific security settings of their solutions. They are characterized by being skeptical, critical and indecisive in the face of change. When you're creating your marketing strategy, or perhaps just readjusting yourself, make sure to consider these four types of B2B buyers and their personalities.
Take a step back from the traditional selling process and really focus on each individual buyer. The more you understand the buyer, the easier it will be for you to get him to the closing table. Expect these types of B2B buyers to buy larger volumes of products with a lower process per unit, making it a very lucrative market with constant demand. Keep in mind that when you run a B2B social media campaign, it starts with an “i” and ends with “ternet”.