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Creating a B2B Sales Methodology That Wins

Posted by IndustrySelect on Wednesday, August 11, 2021

 100258_Sales_Metholody

5 MIN. READ

When it comes to sales, good marketing is critical. It's even more important that good marketing tactics target your key audience in an accessible way. This is especially important for manufacturers. Indeed, sometimes there are unavoidable obstacles to overcome in a crowded marketplace. Other times, there are industry-related issues such as a technology gap. It is also not uncommon for the chain of command in the manufacturing industry to forgo the use of email. With that being said, a strong and effective sales methodology is how you can avoid these types of issues and keep a successful business.

What is a Sales Methodology?

A sales methodology is the approach that your business takes to develop your sales and marketing tactics. Your company’s methodology should include a comprehensive plan that outlines the main goals of your business and actionable steps to achieve them. These goals can be as simple as meeting a revenue quota for the next quarter, or they can be something more extensive, like increasing the return on investment on your outreach expenses by 25%.

The most important part is the outline of how your company will reach these goals. These steps should be definitive, achievable and realistic. Also, they should be mapped out within a reasonable time frame. All of these components contribute to your company's experience at each stage of the sales process.

A final defining note: While your methodology defines how you'll reach your goals, your sales process serves as an overarching map that outlines your business sales and lead prospects. Both are equally important for your business development.

Why a Methodology is Essential

A sales methodology is critical for your business to ensure that each stage of the sales process is effective. Any mishap along the way could potentially result in a missed opportunity and subsequent loss in revenue. On the other hand, streamlining your sales process within a methodological structure is a surefire way to increase profits and decrease stress.

In addition to mitigating the risk of lost revenue, a strong methodology also solves the problem of avoiding unforeseen mishaps in the sales process. This might include unreliable sales technology, chaotic interactions with prospective leads or other unknown variables.

With a foundational strategy to work off of, you and your sales team are equipped with the right tools and knowledge to nip any problems in the bud.

The Key Elements of a Strong Sales Methodology

The best way to create a strong sales methodology is to keep your strategy buyer-centric and relevant. This means staying on top of new technology updates that can streamline and advance your tactics. It also means catering each step of your sales process to buyer behavior.

Overall, you will need to shift and adapt your practices every step of the way. For example, when conducting research, make sure that your data and statistics on buyer behavior are still relevant. Also, make sure that you are aware of what your competition is doing in terms of their marketing and sales tactics.

In addition to in-depth research, you will need to develop an effective sales approach that caters to your niche demographic. Consider what your customers want and need and how your business can fulfill those demands.

Furthermore, you will need to make sure that your sales methodology is comprehensive from start to finish. This means preparing a structured approach to your business from introductory pitches and presentations to leads to closing deals and following up afterward.

The Different Types of Sales Methodologies

There are dozens of different types of sales methodologies. Usually, they're iterations on the same ideas that use somewhat different frameworks. They can focus on customer interactions, activities, offers and so on. Some of the most popular include:

• Inbound methodologies, focused on bringing customers into your marketing channels. For example, you could run an advice hub for manufacturing executives and generate leads that way.
• Solution selling, centered around identifying problems and building connections based on them.
• Value selling, focused on eliminating low-value leads and concentrating efforts on customers that generate business. This means fewer sales opportunities with generally higher tickets.
• Account selling, which breaks down your sales team into individual accounts rather than all opportunities. This methodology focuses on investing a lot of research/energy into each lead.


These approaches will vary depending on the industry and the market that you are catering to. Generally speaking, the best type of sales methodology is one that is customized to specifically fit your business and its unique value. Indeed, there's no one-size-fits-all methodology type, even though many businesses keep seeking that silver bullet.

If you create and tailor your methodology for your business, it will perform well.

A More Efficient Process

With all of this essential information in mind, there’s one more key to ensure the success of your sales methodology. That’s where IndustrySelect fits into your marketing plan. Access nearly 460,000 industrial businesses and a million executive contacts to make prospect research and communications efficient and easy.

Start your free demo today, and discover how IndustrySelect can be integrated into your business operations for a more effective process.

 

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