Observations on B2B Selling in Post Covid Marketplace that Make Sense
By Michael J Griffin
3 minute read
The Covid sales environment has spawned a lot of social media and marketing hype on how to sell virtually. Here are my insights (and those I have gleaned from McKinsey, Gartner, and Korn Ferry) on what I have gleaned is important to you as a B2B salesperson in the “Post Covid-Hybrid” marketplace.
1. Customers can hide behind the virtual curtain
B2B buyers digital savvy and prefer to research, buy and re-order using virtual methods. 70-80% of decision-makers want to deal with B2B purchases online according to McKinsey. You too, then have to be digital savvy across a number of modalities as customers want to communicate this way: virtual, text, telcon, and face to face. B2B customers are acting more and more like B2C buyers! Ensure you are digital savvy, practice across platforms.
2. Foundational B2B selling skills matter even more
Both McKinsey and Gartner's research uncovered the B2B customers are spending less than 20% of their buying time actually communicating with salespeople. The window of building customer relationships is shrinking, therefore, amplifying the requirement for excellent B2B communication and selling skills so you can quickly inspire trust and business communication with your customers. If you can’t get the customer to talk face to face, virtually, or by text, you won’t have a chance to close the sale. Begin virtual B2B selling skill role plays with your sales team weekly!
3. Take extra care to serve and grow your existing customer relationships
Protecting and keeping your existing customer relationships is crucial. Korn Ferry found the top Covid strategy that B2B sales organizations are focusing on is protecting their existing accounts. This can provide a door for you to expand resales or cross-sales of your solutions and help meet your quota attainment. Be a creative servant leader to your customer!
4. Prospecting is more difficult
For many B2B salespeople, prospecting has become more difficult. The combination of customers hiding behind the virtual curtain, budget cuts, and you and your competitors’ strategy to protect existing accounts makes skillful prospecting even more important. Begin to go back to those older accounts you no longer service, and, make a real effort to ask your existing customers for referrals. Use LinkedIn Sales Navigator to target key players and their relationships to generate semi-warm leads. This week learn how to ask for referrals and use LinkedIn.
5. Marketing and Sales functions need even better linkages
A strong marketing function can support lead generation and lead development. When marketing and sales collaborate, sales rise but sad to say many organizations have not aligned marketing and sales KPI’s for revenue generation synergy. Marketing and sales should meet regularly to align KPIs to synergize customer engagement from awareness, leads, prospecting to selling. Initiate that first Marketing – Sales meeting and align KPIs.
6. The number of people involved in buying decisions is increasing
Korn Ferry's research shows the number of people involved in B2B buying committees buying is increasing to an average of 6.8 people. You must be a strategic orchestrator of relationships, needs, AND buyer personalities that you influence across the buying committee. Your “Sales EQ” ability to read personalities and adjust your communication style to connect is crucial in committee buying situations. Learn your DISC communication style and how to communicate with different styles!
7. Your digital presence must be strong
Digital savvy customers find it easy to navigate the online environment to do their research. In many cases, the customer is better prepared than the salesperson. The obvious start for you is to be an expert on your offerings and solutions. One often overlooked area is the professional online presence that your potential customer searches for to learn more about you. Make sure your LinkedIn page is designed not as a job resume, but as a businessperson that exhibits professionalism. You might also want to start a blog, YouTube tutorials, Twitter, or Instagram accounts that reflect your professionalism and expertise. Clean up your virtual presence!
8. Daily “Sales Kick-Off” moves teams to action
I have found my sales and service team gets more of my time virtually than when I was in the office! Why? I borrowed a critical success activity from Verne Harnish of Gazelles. We hold a daily “kick-off” meeting with the team that lasts 20-30 minutes. Start with yesterday’s individual success then war stories, followed by a short teaching or information update, lastly a summary of individual work activities for the day. This daily virtual “kick-off” activity has made my sales coaching and monthly sales performance reviews more collaborative and informative. Start this week!
Use the eight Post Covid Hybrid selling insights to reflect then adjust your sales and customer engagement strategy for even more success. As usual, contact me at michael.griffin@elavateglobal.com if you want to discuss how any of the insights can accelerate your sales performance.
Have a great “Hybrid” week selling!
Michael J Griffin
Founder ELAvate
Sales Training
Global 6E Sales Coach