What do most technical founders, practitioners and product managers have in common?
A shared belief that the product or service sells itself (and if it doesn’t, then sales don’t know how to sell it!).
Often, I have had to challenge the firmly held belief that closing deals requires more than just warm leads. Success in #sales is about building credibility and engaging customers in meaningful conversations to understand their needs while executing a repeatable process for demonstrating proof of value.
Whether you’re a seasoned business owner/operator or a #Tech professional-turned #Entrepreneur, here are five best practices to help you improve your sales conversion.
Know Your Ideal Customer Profile (ICP)
It all starts with understanding who you are selling to. You could have the best product or service in the world, but if you’re pitching it to the wrong people, you’ll struggle to make an impact.
Building a detailed Ideal Customer Profile (ICP) allows you to zero in on those most likely to buy from you. An ICP considers factors such as company size, industry, geography, challenges, and decision-making process.
For instance, if you sell #AI solutions, your ICP might be a medium-sized business in the financial sector in NSW looking to implement conversational intelligence to improve or scale their customer experience.
Tip: Don’t just focus on demographics – dive into their pain points and goals. How does your offering solve their problems?
Do Your Homework
Nobody likes being sold to by someone who hasn’t done their research. Before any meeting or call, take the time to understand the customer’s business, recent challenges, and potential opportunities where your solution fits.
LinkedIn, company websites, and industry reports are great for gathering insights. Showing you’ve done your homework demonstrates your commitment and helps you formulate a resonating message.
Let’s say you’re meeting with a retail company looking to expand its e-commerce operations. By researching their recent activities, you might uncover that they’ve struggled with on-time or same-day deliveries. This opens the door to discussing how your services or solutions can simplify or re-engineer their operations to improve service levels.
Tip: Personalised outreach always beats generic pitches. Use your research to build a tailored approach that specifies your target company.
Learn to Listen
Sales isn’t just about talking; it’s about listening – and truly understanding the customer’s needs. Too often, Subject Matter Experts from virtually every field are guilty of focusing on their credentials, that they miss important information shared by the prospect.
When engaging with potential clients, ask open-ended questions to encourage them to share their pain points, challenges, and goals. The more you understand their needs, the better you can position your product as the solution.
Active listening involves hearing words and paying attention to tone, body language, and underlying concerns. Make sure to follow up on what the prospect says, addressing their specific issues rather than sticking rigidly to a script.
Tip: Use phrases like “Can you tell me more about that?” or “How does that impact your business?” to understand the real issues your prospect faces.
Provide Value at Every Stage
Prospects don’t want to feel like they’re being pushed through a sales funnel. They want to see value at every touchpoint – from the first email to the final negotiation. Make each interaction count by offering insights, sharing resources, or offering solutions to address their pain points.
For example, instead of simply sending a follow-up email after a meeting, why not include a relevant case study or a whitepaper highlighting how you’ve helped a similar company overcome a challenge? This not only keeps you top of mind but also demonstrates your expertise.
Tip: Think of each interaction as an opportunity to build trust and credibility, not just as a step towards closing a deal.
Handle Objections Effectively
Objections are a natural part of the sales process. View them as opportunities to understand the prospect’s concerns and to refine your approach rather than seeing them as roadblocks. When faced with an objection, resist the urge to counter it immediately. Instead, take a moment to acknowledge their concern and explore it further.
For example, if a prospect says your product is too expensive, ask them for more information like, “Can you tell me more about your budget constraints and can we look at alternative approaches to help you with what you’re hoping to achieve?” This can lead to a more meaningful conversation around solution options rather than getting defensive about features and functionality.
Tip: Be prepared for common objections and have clear responses ready, but always ensure that your answers feel personalised to the client’s situation.
Final Thoughts
Creating and converting sales pipelines is about more than just generating polite inquiries. It takes a combination of insight, experience, patience, and process to prove the value of your services and solutions in your customers’ context.
These five best practices will help you frame your approach to B2B Sales, and if nothing else, will help those not from a sales background evolve their understanding of what salespeople do!
