When the Covid pandemic started, one of the most notable changes has been the shift from traditional in-person sales activities to more virtual and digital channels. This has resulted in an increased reliance on video conferencing tools, virtual events, and digital marketing strategies. It was challenging, but the companies that were already prepared for remote-work were more successful than others.
A few years have passed, and although the situation is more relaxed than before, some things have changed and will remain to do so. Sales today can be called hybrid – a mix of multiple channels, requiring both digital self-service as well as direct human interaction.
Another significant change has been the shift in customer priorities and preferences. Many businesses have had to adapt to new market demands, which has required them to be more flexible and agile in responding to customer needs. The pandemic has also accelerated the adoption of technology, with more businesses embracing digital tools to streamline their sales processes and enhance customer experiences.
Additionally, supply chain disruptions and economic uncertainties have had an impact on B2B sales. Some businesses have had to adapt to new market conditions by pivoting their offerings or adjusting their pricing strategies. Overall, the pandemic has forced businesses to be more creative, adaptable, and customer-centric in their sales approaches.
What do customers want now?
Changing customer expectations require companies to adapt fast. Recent research by McKinsey (2022) has shown what’s the most important for most B2B customers today:
- Performance guarantees offered during sale
- Real-time, i.e. always-on customer service
- Product availability shown online
- Consistent experience across channels
- Ability to purchase from any channel
Lacking in one of these services may lead the customer to search for new suppliers.
There are several practices that companies can adopt to prioritize the customers. Firstly, they can use customer data to understand their preferences and intentions, and utilize analytics to make effective use of this information.
Secondly, they can offer customized content and value propositions that are comparable to those offered in B2C interactions.
Finally, by continually monitoring customer feedback, companies can consistently deliver an exceptional buying experience throughout the entire customer journey. The new landscape may also require specific skills from sales representatives.
The importance of tech: Data and scalability
Customer Relationship Management (CRM) systems are designed to help businesses manage their customer interactions, sales activities, and customer data in a centralized and organized way. One of the key benefits of using digital systems is that it enables scalability of sales operations. By providing a single source of customer data, CRM systems allow sales teams to more effectively manage large volumes of customer interactions and sales activities.
This helps businesses to streamline their sales processes, improve efficiency, and enable faster and more effective decision-making. In addition, this systems can provide valuable insights into customer behavior and preferences, allowing businesses to better understand their customers and deliver more personalized sales experiences at scale. The scalability of sales operations enabled by digital technology can help businesses to grow and achieve greater success in the long term.
Scalability in sales can separate average performers from successful ones, as it’s not just about landing one great deal, but being able to do it again and again.
Important is also ensuring that the business choose the correct “tech-stack intensity”. Many organisations subscribe to extremely expensive technology solutions and realize afterwards that the majority of their salespeople are not using them. Choosing the right technology should always first consider user adoption, change management and data before making any big decisions.
The desired outcomes should be the main guideline. Sometimes it’s better to have fewer tools but thoughtfully integrated.
Content and alignment of sales & marketing
Customers’ attention can be captured with personalized content and leading B2B companies are abandoning the one-size-fits-all approach in marketing.
Today, B2B content must meet high standards to be effective. It should be visually appealing, engaging, and effectively communicate complex ideas in a clear and simple way. Furthermore, it needs to keep up with the evolving expectations of customers. Given the typically higher prices of B2B products, sellers often only get one chance to make a successful pitch to a key customer account.
Building trust is also critical, and great content is one way to demonstrate credibility and expertise, positioning the seller as a trustworthy partner who can provide end-to-end solutions rather than just a collection of features or capabilities.
When it comes to B2B sales, content is the most important factor influencing customer buying decisions, even more so than sales presentations and timely delivery.
Despite this fact, many sellers don’t value the content produced by their marketing teams, feeling it’s too generic and doesn’t address their customers’ specific needs. However, by leveraging analytics and innovative data sources, as well as engaging in direct conversations and surveys with customers, teams can create personalized content that speaks directly to individual decision makers.
Alignment of sales and marketing and personalized content are crucial elements in B2B sales. When sales and marketing work together, they create a seamless experience for customers and prospects. Close collaboration eliminates redundant work, as it is more efficient if both functions work together on a cohesive go-to-market strategy, drawing from the same data and delivering a consistent message to customers.
Essentially, the goal is to make every seller a marketer, and every marketer a seller, with the shared purpose of providing a seamless and effective customer experience.
What should sales staff focus on?
The changes and trends in B2B sales will likely have an impact on the qualifications and skills needed by sales staff. Here are some of the qualifications and skills that may become increasingly important in the future:
- Digital literacy: With the continued shift toward digital sales, sales staff will need to be comfortable with technology and digital tools. This includes being proficient in using customer relationship management (CRM) software, sales automation tools, and data analytics platforms.
- Customer-centricity: As B2B sales become more customer-centric, sales staff will need to have a deep understanding of customer needs and preferences. They will need to be able to identify and respond to individual customer needs, and provide a high level of personalized service.
- Collaboration: The rise of collaborative sales approaches means that sales staff will need to work closely with other departments such as marketing, customer service, and product development. This will require strong communication and collaboration skills.
- Emotional intelligence: With a greater focus on customer experience, sales staff will need to have strong emotional intelligence skills. This includes being able to understand and empathize with customer needs, and build strong relationships based on trust and mutual understanding.
- Sustainability knowledge: As sustainability becomes a more important factor in B2B sales, sales staff will need to have a strong understanding of sustainability principles and practices. They will need to be able to communicate the sustainability benefits of their products and services to customers.
Overall, the changing landscape of B2B sales will require sales staff to develop a broader range of skills and qualifications. Sales teams will need to be adaptable, collaborative, and customer-focused, with a deep understanding of both traditional sales techniques and emerging digital technologies.
The future is in the hybrid model and continuous adaption
The COVID-19 pandemic has accelerated the trend towards remote and digital interactions, with over 65% of companies now preferring this approach. The present method of engaging with suppliers’ sales representatives during the sales process is divided into three sales-channel types:
- traditional interactions,
- remote human interactions, and
- digital self-service.
Research shows that respondents are using each type of interaction in approximately the same extent, depending on where they are in their customer journey.
As a result, companies are increasingly investing in hybrid sales roles that combine field and inside sales, adapting to the customer’s needs at each stage of the sales process. This approach has seen the fastest growth among all types of sales roles over the past few years, indicating that it’s becoming a new sales channel in itself.
Rather than forcing customers to adapt to their channels, companies should meet their customers where they are to ensure consistent messaging across all channels.
The situation in B2B sales seems complex, but several trends are definitely here to stay – continued digital transformation, greater personalization, building stronger customer loyalty, more collaborative sales approaches and increased focus on sustainability.