Closing deals in the B2B tech space presents several challenges given many of the products are new and have yet to generate demand. Additionally, there are usually multiple decision makers involved and set budgets that can make for extremely long sales cycles. Here we’ve identified some key ways to help your tech firm generate more sales.
Develop Your Buyer Personas
“A buyer persona is a semi-fictional representation of your ideal customer based on market research and real data about your existing customers. When creating your buyer persona(s), consider including customer demographics, behavior patterns, motivations, and goals.” Developing a detailed buyer persona will help you to identify your target audience on a broad scale and determine the best ways to target them. Both sales and marketing should be involved in this process and you will likely have multiple personas that you are targeting.
Create Detailed Client Profiles
“A customer profile is a description of a business' customers based on their demographics, backgrounds, hobbies, and interests. Businesses that offer ongoing services, as well as subscription-based and product-based businesses, should use customer profiles.” Client profiles can give you valuable insights into the size of a company, their different branches and divisions, their hierarchy, competitors and possible needs. They should be used in conjunction with other marketing efforts as a knowledge base for talking points and content creation.
Narrow Your Target Audience
At the very beginning of a campaign, it’s a good idea to further narrow your audience based on demographics, psychographics and level of interest. This can be done with teleprospecting efforts that delve into the inner workings and needs of a particular organization. It can also be done on a mass scale through email blasts that help to identify those with a current need and those that may need further nurturing or education on your product. Narrowing your audience will help to increase conversion rates and refine your messaging.
Run Lead Qualification Campaigns
Many leads that come in via content download or free service offer are not actually a good fit for your product or service. Additionally, it can be difficult to determine where they are in the purchasing process and their level of decision-making capabilities. Lead qualification programs using teleprospecting and email marketing can greatly reduce the number of unqualified leads that make their way to your sales team, thus increasing conversion rates and improving sales and marketing alignment.
Schedule One-On-One Appointments
Whether it is by phone or face to face, a one on one live conversation is essential in closing sales in the B2B tech space. “By sitting down with a customer or prospect in person, you demonstrate you value their business by putting in the time and effort required for a face-to-face meeting. They’ll leave the meeting feeling like they got to know you and your company as people—which rarely happens in an online conversation.” Building a relationship with a prospect greatly increases your chances of closing a deal. While face to face meetings are not always possible, a live phone conversation can provide just as much value.