Enhance your b2b sales development in NDAs with airSlate SignNow

How to create outlook signature

what is b2b sales and why do you need to know about it if you've ever asked either of those questions this is the show you're not going to want to miss also at the end of the show at the end of our time together today i'm going to share the magic phrase that opens every door in business to business sales join me for this episode of the inside bs show hi my name is dave lorenzo i'm here every day with insider business secrets i share all the inside business strategy with you and today we're taking you inside b2b sales that's right i'm answering your question hey dave what is b2b sales i have five definitions actually five segments of a big definition for you but in defining b2b sales i'm also going to help you get better at b2b sales and at the end of our time together i'm going to share one phrase a magic phrase one sentence that opens every door and one phrase that closes every deal so if you're in b2b sales you got to stay with me through this entire video i've also got a free gift a special gift for you just for joining me today so let's dive right into the content first and foremost b2b sales is selling a product or a service to a business let's talk about consumer sales and let's talk about business sales so you can sell say vacuum cleaners to people who have carpets that need to be cleaned and if you're a vacuum cleaner person and you go door-to-door and you sell those vacuums to houses you're in business to consumer sales or b2c sales if you sell furniture you're in b2c sales if you sell cars on a car lot at a car store you're in b2c sales business to consumer sales if you're a realtor and you sell residential real estate you're in business to consumer sales now if you sell software that enables businesses to be more effective and efficient you're in business to business sales if you're like me and you sell professional services to businesses so you're an attorney you're an accountant you're a an architect chances are you work with businesses and you also work with consumers so you do both b2b sales and some b2c sales in fact you can take just about any product and sell it to businesses we talked about vacuums and going door-to-door selling them to consumers what if you sold vacuums to hotels then you would be a business selling to other businesses and you'd be in b to b sales what if you sold furniture to hotels or to apartment buildings for their lobby or what if you sold furniture for rental apartments and you were in the furniture wholesale business and you sold it to furniture rental companies well then you'd be in b2b sales with a consumer-based product so anytime you sell to businesses you're doing b to b sales and in just about every instance you could be selling from your business to another business so if you're selling a product or a service to a business you're in b2b sales now the second definition of b2b sales the second thing you need to know about b2b sales is even though you're selling a service from your business to another business you're still dealing with a person i mentioned hotels and if you sell anything to hotels whether it's china glass and silver or if it's vacuum cleaners you're in b2b sales but you're a person and you're dealing with another person on the other end of the phone or across the table if you're selling commercial real estate it's you the commercial realtor selling a commercial property to a buyer so it's business to business but the buyer is still a person if you're selling software to a huge company let's say you work at salesforce.com and you're selling your software solution to a huge sales team at ibm and your goal is to have everybody at ibm using salesforce well you're probably dealing with the person who heads up the sales team at ibm the person who heads up all of sales you may be dealing with a procurement person at ibm as well you're still selling to people so it's important to remember that business to business sales is still person to person you're not selling to a building you're not selling to a non-dynamic entity you're selling to someone who has feelings and you still need to make an emotional connection with that person it's so important for me to stress this to you because b2b sales is still person to person making that emotional connection developing that relationship leveraging your consultative sales skills that you're learning here on this channel is essential even in b2b sales all right the third definition the third step in our b2b sales process is focusing on return on investment b2b sales must center around return on investment so if you're selling something to someone in a business they're going to want to know what that return on investment looks like so you make the emotional connection you establish a relationship with the person on the other side of the table and then you have to demonstrate a financial return on investment what does that mean if they pay a dollar for your product your product has to help them make two dollars so they get a 100 percent return on their investment in my business i help people improve their business development skills so if you brought me in to work with your sales team and i charged you ten thousand dollars your sales team would produce a hundred thousand dollars in new revenue as a result of our work together and i would have provided you with a 10 times return on your investment that roi is critical that return on investment is critical and everything you do in b2b sales has to have some sort of return on investment attached to it now the fourth step fourth definition of b2b sales is the three ways you can provide that return on investment you're going to want to write this down ready the first way you can provide a return on investment is by helping the company that you're working with make money that's the biggest way i provide a return on investment i teach people how to grow relationships and that relationship growth leads to sales growth the sales growth leads to more profit that's where the return on investment comes in i help people make more money you can do that too the second way you can demonstrate a return on investment is by helping people save money if your solution is more efficient than the solution they're currently using you can help people save money if your solution gets the return on investment quicker you can help people save money helping people save money is the second way to demonstrate a return on investment the third way to demonstrate a return on investment is by reducing the risk associated with something i'll give you a great example of this if you're an event management company and your client comes to you and your client says i want to do a golf outing you say great i can help you with everything i can get sponsors for every hole we can get people to donate all kinds of prizes and we can do a contest for a car if somebody gets a hole in one if somebody gets a hole in one on the 17th hole they will win a brand new car your client's going to say oh my gosh i can't afford to buy a brand new car for someone you say don't worry about it i'm going to reduce your risk by taking out insurance we can get insurance for that hole in one contest and if somebody gets a hole in one on the 17th hole the insurance will pay for the car all you need to do is pay the premium on the insurance before the event you just helped your client reduce risk you're in the business to business business of performing events or putting on events and in the essence of saving them from having to buy a new car if somebody gets that hole in one which is going to be a big draw for people to enter the golf tournament you've created a risk-free way for them to provide a car all they have to do is pay a small insurance premium you've reduced their risk make money save money reduce risk that's how you demonstrate a return on investment of your services in b2b sales the fifth element of b2b sales the fifth definition of b2b sales is creating a decision process that makes it easy for people to do business with you so the decision process in b2b sales can be complicated you need to make it easy and here's how you make it easy i've got a free gift for you that will make it super easy all you need to do is create a system that attracts clients to you like a magnet and helps you convert them from suspects to prospects from prospects to clients from clients to repeat clients with deep financial relationships with you how do you do this i have a system already set to go you can steal my system go to revenuerroadmapguide.com that website revenuerroadmapguy.com you can find a link to it in the description of this video when you go to that page you'll enter your name and your contact info once you do that you can download my entire system there's a questionnaire at the end you can customize it to you and your business and b2b sales it's a no-brainer that's what this system was developed for download it now use that system and you can shorten the decision shorten the decision process and help people choose your services easily and more frequently all right now we're at the point in our conversation today where i promised you the one phrase that would open every door and close every deal so here's how this works you're in a b2b selling situation you're sitting across the desk from someone you're sitting across a conference table from someone or you may be walking through a showroom with someone and you say to them mr smith you invited me over here to solve a specific problem what problem is it that you'd like me to solve they tell you and you say oh i can do that would you like some help with that and they say sure and you say okay before we talk about specifics to the solution let me ask you solving this problem how is this going to impact you personally or better yet when they raised the issue with you mr smith why did you invite me over here today oh you see dave we're bleeding we're hemorrhaging employees we have a 50 turnover rate every six months we need to lower that turnover i'd like you to come in and do an assessment of my business and determine how we can reduce the turnover okay mr smith that's easy i can absolutely do that for you i do it all the time but tell me this turnover problem i know it's impacting your business it's costing you a lot of money what's it costing you in the business and he'll tell you it's costing you a million dollars a year wow that's a lot of money mr smith how is this impacting you personally i know it's hurting the company but how is this hurting you how is this impacting you personally now why is this phrase a magic phrase that opens the door and that closes the deal when you ask this phrase how is this impacting you personally when you ask this at the beginning of an interaction with a client it demonstrates to them that you care about them and you're interested in a personal relationship with them if you ask this toward the end after you've demonstrated the roi and you say listen i can solve this problem we can probably provide you with a ten times return on your investment so for ten thousand dollars you'll get a hundred thousand dollars back they say that's great mr smith let me ask you when this works out and you receive that return on investment how will it impact you personally so what will happen is the person will say hey i will i'll get promoted or listen it's a big problem you'll take it off my plate my boss will be thrilled when you talk about how this will impact the other person personally you're developing a relationship and even though you're in a business to business environment you're still working person to person so of all the stuff we covered about b2b sales and this show that's the most important thing that key phrase how will this impact you personally is going to change the way you sell it's going to change the way you relate to your prospects moving forward if you'd like more great information just like this scroll down and watch the next video that's coming in right below me right now it's right there go ahead scroll down click on that video right there i'll see you in the next video