Start receiving high quality B2B data and close more deals
Learn the important facts about B2B tech sales and implement them in your business.
4 min read
Sales & Marketing head at Scalestack
Technology updates as fast as you can say the word. New actualizations and more modern software come out every single day that replaces the one that was from last month. This is why counting on great B2B tech sales is not only important but indispensable.
The competition to stand out in an extremely untidy high-tech B2B market has never been more huge. Technology changes at the speed of light, and the need to keep up and keep innovating is at the top of the industry’s strategic to-do list. You can beat any competition without the proper software and that is why tech sales are key.
Furthermore, technology buyers are changing as well. Now they have big levels of expectations for their experiences. This article will discuss how to implement the best B2B tech sales in your company so that you are able to compete fairly with the organizations that are caring for their systems as well.
Here are some basics of B2B tech sales that will help you understand better the way these new programs work and the context where they do it.
There is a considerable number of companies that suffer when it comes to purchasing B2B technology solutions. 74% of tech buyers find the process particularly complicated. Part of the reason is the technology by itself. Software-based solutions tend to come with complicated setup processes and explicit requirements that need to be met, and maybe paid for, too. That complexity makes selling a whole lot harder.
There are approximately 18 people that are usually involved in the purchase of new B2B technology. That amount tends to go up if the cost of the technology is less affordable. Frequently, those people represent multiple teams that will use and be directly impacted by the technology or service that you are offering. It is not winning over one decision-maker, but rather you will need to appeal to many decision-makers along with other stakeholders who will most likely have a say in the final judgment.
Potential buyers are going to be conducting more profound B2B technology market research than the average B2B consumers. Due to this, generic marketing material is not going to be enough. You will certainly need it, but you will have to offer something more in what you are selling and in the way of doing it.
93% of B2B technology buyers want to see how your product or service has impacted others in their same industry. They need to check the success or failure of it, according to their own terms. They are not aiming for emotional appeal either. They just intend to see hard numbers that are measurable. They will ask for proof of success on real business metrics that are viable for them to replicate in their own organizations.
Nowadays, B2B tech sales face many challenges in this high-ticket market. Among many difficulties, here are a few that need to be solved if you aspire to be successful in these types of sales.
One of the more difficult aspects of selling B2B tech is that there are multiple people involved in the decision-making process, and you have to sell to all of them. Stakeholders take a substantial part in the purchasing decision.
What this means is that you must acknowledge the business interests of the different people involved in the purchasing decision, taking their different goals into account. Understanding the unique requirements of the many stakeholders will definitely help you to address their needs. This way, you will be more able to show how your solution can be a win-win for everyone involved.
It will probably take a little more effort to establish profiles for everyone that takes a part in the decision, but it is certainly worth the work.
To prepare for it, you need to be able to answer everyone’s questions and make sure that everyone understands exactly what they are getting from and what is involved in the purchase.
How can you get your potential buyers interested in your offer? You will frequently find that people do not necessarily know what to look for. Especially when we are talking about newer products and solutions. If that is the case you are working on, it is advisable to build up a list of verified B2B contacts that match your ICR. This way, you are able to target them with content made specifically for them, by following the guidelines noted.
You could track the viewership of your content, so you can know what is of interest to your buyers. Plus, you should track the engagement and the number of shares of your content, as well as other indicators of intent to purchase.
By doing this, you can write out a leads list that will accurately tell you who to reach out to for further nurturing and who not to. This list must also indicate what is the interest of every potential client that you are evaluating. That is when you start establishing relations and then keep going with the due process.
B2B tech sales are tough. Providing solutions becomes a very challenging activity. It is a highly competitive market where customers have even higher expectations. B2B customers demand to know they are talking to someone who can be trusted. Plus, you need to choose the right tools that carry along with the whole process.
Now that you have been given the context and hard reality of B2B tech sales, it is important that you get familiar with all that involves these kinds of sales. It is a key factor for the growth of your business, and that is something you cannot ignore.