While most consumer markets have matured and growth has stopped, competition has only increased.
This is precisely why there is a general tendency for businesses focused on B2C (“Business to Client”, i.e. selling to the final customer) to also attack B2B markets (“Business to Business”, i.e. selling to other companies).
This, added to the industries that operate exclusively in the B2B market (such as the CRM, without going any further) has meant that year after year, the B2B market is bigger, more competitive and there are more commercial teams operating in it.
Differences between B2B and B2C sales
These commercial teams have inevitably been forced to adapt to the specific characteristics of the market.
The most important ones for sale are 5:
- Purchase is slower and more rational
- Requires an advisory sale
- The market is smaller
- Margins are higher
- Facilitates personalised treatment
Purchase is slower and more rational
Companies have more control over their spending than the average consumer.
In an environment with performance reporting, return on investment and spending control, this is inevitable.
In addition, in most organisations, a purchase needs to be approved by different parts of the company before it can be made.
The end result is that purchase processes take much longer, and it is easier to lose the sale if it is not properly tracked.
It requires a consultative sale
The purchasing managers of companies are not always specialists in the areas in which they carry out all purchases.
This circumstance, linked to the more rational aspect in B2B purchases that we have seen before, requires, in many cases, that the sale be consultative, and the salesperson advises and trains the company with which he or she intends to do business.
The market is smaller
While B2C or FMCG markets count potential customers in the millions or even tens of millions, in B2B markets potential customers are at most a few tens of thousands.
Margins are higher
In exchange for having a smaller customer base, most products in the B2B market have much higher margins on sale, thus allowing a higher expenditure on the acquisition of each contact and on the achievement of each sale.
Facilitates personalised treatment
With higher margins, less market and the need for consultative selling, B2B markets open up the possibility (and in many cases the obligation) of giving a much more personalised treatment to each of the potential clients.
All these characteristics mean that, while in all companies a CRM is desirable, for those B2B companies it is simply essential.
What advantages does a B2B CRM offers to the sales teams?
Taking into account the specific characteristics of B2B sales , the use of a B2B CRM offers three advantages to the sales teams operating in these markets:
- Greater follow-up of sales
- Better treatment of customers
- Facilitates consultative selling
Increased sales tracking
According to the NASP, 80% of sales are achieved from the 5th contact you make with someone; however, 90% of salespeople do not contact a potential customer back more than 4 times.
The only way to avoid this is to be able to follow up on sales more or less automatically for as long as necessary without being annoying or tiresome for the buyer.
And the only way to do this is through a CRM.
Better treatment of customers
Thanks to a B2B CRM, any salesperson and any member of the company has a 360º view of all customers.
So, when you pick up the phone, you can know everything about them, their problems and the status of their sale even if you have never spoken to them.
Thus, the treatment is much more personalised.
It facilitates the consultative sale
Most consultative sales are by definition long, and not infrequently, more than one salesperson is involved.
Following up and accompanying a sale properly is simply impossible without having all the customer’s information centralised in one place, as well as reminders of meetings and tasks.
And that is precisely what a B2B CRM does
If you operate in the B2B marketplace, you need Efficy’s B2B CRM
In Efficy we know the peculiarities of the B2B market, but we also know that each business has different needs.
That is why we listen to you first and then prepare a tailor-made solution, thanks to the fact that we are the most flexible and scalable CRM on the market.
The best proof that the system works is that we have more than 4,500 clients in more than 33 countries.
You can start marketing better and get more sales today.
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