Relationships-The Building Blocks of Sales Success

In today’s competitive B2B environment, everyone is looking for new ways to connect with potential buyers. From anticipating market trends to identifying potential customer pain points, marketers are pursuing what they always have—successful and profitable client relationships. But if you’re using outdated methods to reach and connect with potential customers, you may be wasting time, energy, and money. 

Historical Perspective

In the 1890s, the insurance industry identified two forms of income generation: “hunting” and “farming.” Hunting refers to the active and aggressive pursuit of new business, while farming refers to the management of existing accounts and the collection of incoming premium payments. B2B selling in the modern industrial world was new, and print was the only medium available.

By the 1920s, salesmanship had evolved into an industry, and it was clear that the ability to build successful income-generating relationships was not simply an inborn talent, but that sales forces could be trained in ways that boosted results. Pitches became scripted as the telephone and radio stepped to the forefront of sales technology, and for the first time, people were being trained to sell.

By the 1970s we see the development and growth of selling in a consultative manner where the goal of the sales relationship is to identify and sell to the most prevalent customer concerns. And while the seller was still targeting a single decision-maker, the act of listening to a prospect’s main concerns and tailoring a solution to meet them was the main builder of sales relationships.

What Is Today’s Most Valued B2B Selling Skill?

The advent of online B2B marketing has dramatically changed the way purchasing decisions are made, subsequently affecting how sales relationships are approached and built. For example, purchasing choices for even mid-sized companies are often made not by a single decision-maker but instead evolve through a series of committees and group consensus. The result is a fundamental change in the way successful sales relationships are built.  It’s no longer enough to solely rely on cold calling, referrals, or networking. B2B sales success now depends on a new and important driver—the ability to teach the client something new.

The future may be rocky for marketers who ignore this trend. Sales positions in the American B2B marketplace are in contraction, with some forecasting a loss of 1M positions this year. And as B2B buyers continue to move toward digital, sales forces using outdated sales techniques will find meeting their targets more challenging. 

Building a Strong Foundation

So, what can you do to avoid being left behind? And how can you begin constructing a reliable foundation for your next business relationship? The answer begins by looking at what sets today’s sales winners apart from the pack.

 Here are a few things we can learn from today’s sales winners…

Acknowledge your prospect’s reality.
The struggles and challenges of your next potential customer are real. Let them know that they’re being heard and that you understand their concerns within the context of their business.

Build trust.

Once you’ve shown your ability to listen, you can begin to offer insights that illustrate your expertise and commitment to your clients and their industry.

 Convey something new.

Today’s prospects want to explore dynamics and technologies that will make their businesses more agile, responsive, and competitive. You may show them how to solve a problem they didn’t know they had—or help chart a new course using digital and social media marketing. 

Define their future.

Risk and uncertainty are the bugaboos of every business decision. This is your opportunity to show how your product or service will reduce risk and maximize profits a day, a month, or even years down the road.
 
Conclusion

B2B marketing has changed dramatically since the catalog selling says of the 1890s. Today’s prospects are savvy and eager to learn about new approaches and technologies. But what they crave most is a fresh perspective—a new way of thinking about their business. The sales force that can both validate their prospects’ concerns and provide a fresh and instructive perspective will find themselves in a far more competitive position than those still relying on cold calls and referrals.

Are you ready to step into the future of B2B marketing? Let us help you take the first step.