Day In The Life In B2B Sales
– In this video, you’re gonna learn what the day-to-day life is like in B2B sales and you wanna make sure you watch this video until the end because if you are considering a career in sales or if you’re just getting started, you’re gonna get the inside scoop on how this all goes down.
What’s going on everybody? It’s Patrick Dang here, before we get started, make sure to give this video a like, subscribe and turn on notifications and lets dive in. Now diving right into it, the first aspects of B2B sales especially if you are just starting your career is going to be lead generation.
All right, now lead generation is essentially the process of when a sales person or a business development person reaches out to another company with hopes to build a business relationship and eventually maybe that person will buy your products and services.
So when you are starting out in B2B sales, you’re either gonna start as a SDR or a BDR. There’s many other acronyms for this role but essentially that is a sales development rep or a business development rep.
And your job in the beginning is really just to reach out to other companies and generate as many qualified meetings as you can. And the reason why you need to generate a meeting before you close a deal is because if you think about it, in B2B sales, you’re selling something that’s usually quite expensive, right.
Maybe it might be $10,000, $50,000 even a $100,000, right. So the deals can really be high value. Now before a company spends let’s say $10,000 a month on a software for example, well, they’re gonna wanna talk to if another person over the phone or something like that before they actually make a purchasing decision.
It’s not like somebody just goes onto a website and says, oh, this sounds really cool, oh, it costs a $100,000 let me just put in my credit card information and boom the buyer, right. It does not happen like that.
For high ticket items, high value items, people really need to talk to another person to make sure that whatever it is that they’re buying is the right fit for them because if they make a mistake and they buy the wrong thing, well, it’s not very good because that’s a lot of money going down the drain.
And when it comes to lead generation, right, there’s gonna be two types. First one is gonna be outbound lead generation that’s when you are reaching out to another person, cold usually and they have no idea who you are and you’re gonna do this with email LinkedIn and cold calling.
The other form of lead generation is inbound lead generation and that’s gonna be when leads come to you for example if a company does marketing, they create YouTube videos and blogs, right. If people are interested and they wanna learn more while they’re gonna try to contact the company, share their email and then a sales development rep will see that email come in and follow up with them and say, hey, I noticed that you checked out our article about XYZ, just curious to know if you wanna jump on a call to see if we might be able to help you out in any way.
And then from there and meeting is formed, okay. So now that we understand what lead generation is, what is the next step when it comes to B2B sales and that’s gonna be qualifying, all right. So I’m saying qualifying because right now in the beginning stages of a meeting or you generate that first meeting, you’re not necessarily selling anything, you’re not pitching your product or service, you are qualifying somebody to make sure that they are the right fit to even have the opportunity to buy from you, right.
So you wanna reverse the script, you’re not pushing, you’re letting the prospect come to you. And when you are qualifying essentially when you generate the meeting, you’re gonna have let’s say a 10-minute or 15-minute conversation and you ask them a couple questions about what are their problems? What are their challenges that they have? Have they tried anything to fix it? How long has it been a problem? Do they have the budget to purchase your product and service? When do they wanna buy? Who else is going to be a decision maker when it comes to deciding on whether they should invest in your solution? So those are a couple of general questions that you definitely need to know the answer to before somebody does any type of B2B deals or buy something from you.
And so in the qualification process, again, like I said before, you’re not selling anything, you are just making sure that they are the ideal client that you should actually sell into. And once you ask these questions and they seem like they’ve may be a great fit to buy your product and service, you’re not even selling quite yet, right and then the next step of the process is actually the discovery phase.
So after the qualification process essentially what you wanna do and B2B sales is you want to get them on another call in another meeting with all the right key decision makers in that meeting or in that room and basically you’re gonna go for either 30 minutes to one hour in having a very in-depth conversation on what problems they have and you’re gonna go super, super deep and if you’re selling, let’s say a software, you’re gonna be super, super technical and you’re gonna have all these technical people on the call and you’re gonna really understand what is it that they are trying to do and that’s gonna be the discovery phase.
And again, the really interesting part of B2B sales especially when you’re selling something more high ticket like software or maybe a complex consulting offer, is that you’re not quite selling them even yet, right.
You’re already a couple of meetings in and you’re really just learning about the customer, learning what exactly their problems are and learning about how you might be able to position your product and service as a solution because in B2B sales, a lot of times especially if you’re working at let’s say, Oracle where I used to work or Salesforce, Microsoft companies like this, people aren’t typically gonna buy so quickly, right.
You’re not gonna close somebody on the first call. Instead of what’s gonna happen is you’re gonna have multiple meetings throughout months or weeks or months or even years in some cases because they wanna make sure that it’s a really good fit for them and there might be spending hundreds of thousands or even millions on a certain software depending on the company size.
So to make the right decision, they have to really, both sides really need to understand each other and whoever is selling, you really need to understand the customer because if they are not successful when they purchase your product and service, well, word is gonna spread and nobody’s gonna wanna buy it from you.
But if you take your time, go through the discovery phase, learn about your customer before you sell them anything then it’s a lot easier to make both sides happy. So within the discovery phase, the main thing that you’re really looking for is pain, right.
What is the problem the prospect has and do you think you can solve it? And once you identify these pains and you ask all the deep questions really understand this prospect, then you can actually pitch your product and service and that’s gonna take form of let’s say a demonstration, a presentation or maybe it might be a form of a webcast where you’re sharing your screen and then you’re kind of doing a PowerPoint presentation, it really just depends on what you’re selling and how you’re doing it but essentially there’s gonna be some type of presentation, right.
And within that presentation, when it comes to B2B sales, each presentation is kind of customized for that specific individual, right. So whatever problems that you discovered during the discovery phase, in your presentation, you’re gonna talk about how you are going to solve every single one of those major problems, okay.
And when it comes to B2B sales reps, especially on the higher level, it’s not as if you’re just doing the same pitch over and over and over to every single person that walks in your door, instead, first you listen to the person’s problems through the discovery phase and then from there, you can create a custom presentation on solving their specific pain so that they really feel like, ah, Patrick really understands my problem and it really feels like he can actually help me out here.
And once you create that feeling and you build that trust, then people are suddenly willing to spend the big dollars with you because you earn the right to pitch and you earn their trust and now it’s just time to help them make a buying decision.
And then the presentation what’s really interesting about B2B sales is that you’re not like, you’re not a motivational speaker, right. You’re not trying to inspire them what you could actually but you don’t have to really go all crazy about it.
All you really have to do is do a simple presentation and say, hey, look, I know your problems, here’s how we solve it, here’s the value that we bring. And obviously you wanna do it with more charisma and things like that.
But essentially all you’re doing is problem solving. If you can show the other person that you can solve their problems then there are a lot more likely to buy it and you don’t have to be like a showman, you can just be a problem solver.
And after the next step of once you do a presentation or demonstration, the next part is going to be negotiation, right. Because once somebody is interested in buying your product and service, obviously they are gonna wanna negotiate the terms of deal.
And usually either they wanna negotiate on price where they’re gonna want some discounts or they’re gonna want some special terms within the contract meaning things like when exactly what they will pay, can they pay at the end of the month, before or the beginning of the month or any other legal language, right.
So every company is gonna be different depending on what product and service you’re selling but for my experience selling technology, I found that a lot of companies do wanna fight over these little lines in the contract and sometimes it’s a long process to go through lawyers and go back and forth to make sure that everyone is happy on both sides, but essentially in the negotiation phase, all you really want to make sure is that you’re getting fair terms, right.
What’s fair for you and what’s fair for them and you’re getting a fair price, meaning that if they’re asking for a discount, well, you’re not giving them too steep of a discount and if they do ask for a discount, you’re also adding, asking for more terms, right.
Every time they ask for something, you get to get something, it’s almost like the trade. And so negotiating definitely is more of a complex part of the sales cycle, right, it’s definitely more advanced but essentially you’re gonna have to negotiate to make sure both sides are happy.
And so with that said, that is B2B sales in a nutshell from lead generation all the way to presentations and closing the deal. And now if you enjoyed this video, make sure to give it a like, subscribe and turn on notifications if you wanna see more videos like this and let me know in the comments what was your number one takeaway from this video.
And so with that said, my name is Patrick Dang and I’m gonna see you guys in the next one.