Have you ever wondered why some of your best B2B sales tactics just don’t seem to work anymore? One good reason is that a number of myths have grown up around B2B sales, and these myths have resulted in sales tactics that are no longer optimal for the rapidly changing digital landscape. Here are just 3 of the myths that may be holding back your B2B sales performance:
Myth #1: If you have more leads, you will get more sales
On the surface, this myth seems to make sense. If you think of the traditional sales funnel, then the more leads that go into the top of the funnel, then the more sales that should come out of the bottom of the funnel. And with the Internet, this approach has become even more popular. All of a sudden, every target market seems to be an order of magnitude bigger – and that means a way bigger sales funnel.
There’s just one problem with that approach – it assumes that all leads are created equal. But, as any B2B seller knows, there’s a big difference between a regular lead and a “qualified lead.” The key is not more leads, but better leads. And that’s where your marketing department plays such a key role – it has the job of generating the best possible leads so that you can close more sales than ever before.
Myth #2: Selling has to be in-person to be effective
This B2B sales myth has its origin in the old analog days of doing business, before digital completely disrupted how we do business. While selling face-to-face is still effective, it’s also time-consuming and resource-intensive. How many sales meetings can you realistically squeeze into one day?
The amazing benefit of the Internet is that part of the B2B sales process can be automated. You can thank your favorite mobile device for that. Think of how often you check your smartphone each day to set up or confirm events or make purchases – that’s proof enough that the smartphone has the potential to become a potent weapon in your B2B sales arsenal, enabling you to close sales without face-to-face interaction. According to Gartner, by 2020, customers will manage 85 percent of their interaction with the enterprise without interacting with a human.
#3: The reason why you lost a sale is because of an inferior product
It’s a natural human response to blame our failures on others. It’s the brain’s way of rationalizing our failures. And, in B2B sales, the easiest way to rationalize a lost sale is to blame the product you are trying to sell. It doesn’t offer enough features. Or it doesn’t offer the ever-valuable Feature X.
But, back up a second. The reason why you lost the sale is probably because you didn’t explain that your product solves the problem your prospect wants to solve in the way your prospect wants to solve it. Having a great product helps, but if your product was really so great to start with, it would sell itself. There are trade-offs with any product – you just need to find a way to frame the sale so that you are explaining why your product’s trade-offs are better than your competitor’s trade-offs.
Once you realize the power of these B2B sales myths, it’s time to re-think the way you approach your job. Soon, you won’t be held back from achieving your best possible B2B sales results!