Stan Burns of Live Calls Network Discusses Top B2B Selling Trends You Should Know Right Now
B2B sales solutions have evolved and effectively redefined commerce in the modern age.
According to Grand View Research, by 2027, B2B e-commerce is expected to reach $ 20.9 trillion globally. This translates into an annual growth rate of 17.5% over the next 6 years.
Stan Burns is the CEO of Live Calls Network, an advertising exchange specializing in pay-per-call and lead generation services. businesses are looking to partner with inbound calling businesses and use cutting edge business communication methods.
More product-driven growth
Compared to common business strategies such as Marketing Driven Growth, Product Driven Growth refers to a methodology in which the product itself drives retention, commercial sales, and expansion sales of a business. .
Stan Burns explains that this sales trend differs from other business strategies in a number of ways. With product driven growth, there is usually a free trial based revenue model for consumers, so actual sales likely take longer, so revenue comes in later than strategies. focused on marketing or sales. As part of product-driven growth, B2B sellers will have to get used to missed or different individual sales quotas and lower overall sales volumes.
Different types of buyers
Buyer behavior has changed in both B2B and B2C (business to consumer) and this has impacted many traditional approaches to selling. B2B sales cycles aren’t just getting longer but more complicated because there has been an increase in decision makers involved in the buying process of a business.
Stan Burns of Live Calls Network notes that in addition, higher levels of personalization are increasingly desired by business decision makers, leading to B2B business sales now driven by account-based selling. . And as millennial buyers appreciate more online access to business information, there has been an emergence of B2B influencers as more weight is placed on customer reviews.
The rise of artificial intelligence
Artificial intelligence, or AI, has drastically changed the landscape of the business world – and Live Calls Network reports that it will only gain popularity in the marketing and sales process for B2B.
It is now estimated that nearly 85% of sales tasks are automated, with many new tools, such as Seamsless.ai, not only generating leads from vast data, but creating accounts based on individual preferences.
AI is also used to predict changes in buyer behavior, helping sales teams tailor the experience based on past customer preferences. This gives customers the enhanced, personalized selling experience they now expect.
Slack becomes more powerful
Point of sale and marketing are increasingly relying on the Slack business communications platform according to Live Calls Network. Now that Salesforce has acquired Slack, there will surely be more customer communication across DM and Slack channels.
Stan Burns says that Slack can transform B2B sales in a number of ways, including more virtual ways for marketers and salespeople to share content in private rooms with customers or prospects in a very instant collaboration.
Prioritize customer security and privacy
Digitization continues to permeate the work and personal lives of global customers, so there is an increased expectation that organizations will take advanced privacy and security measures to manage their sales channels and pipelines.
Experts predict that B2B companies must continue to find innovative ways to ensure that honesty and security are essential to the way they conduct their sales, possibly by partnering with other companies dedicated to online environments. that customers trust for their online privacy. More and more companies will also need to communicate their security measures as well as detailed plans to integrate more privacy features.
New ways to examine customer data
Data is vitally important to B2B businesses, especially when tracking the needs of customers who are now communicating on a growing number of devices. New customer data platforms are needed for B2B marketers to get a real-time 360-degree view of current customers as well as prospect information, says Stan Burns of Live Calls Network.
This data should increasingly be stored on a platform that centralizes sales and marketing efforts in a transparent approach.
The COVID-19 pandemic has uprooted lives around the world and has had a huge impact on businesses. One of its effects: B2B sales using interactions across various channels to retain and attract customers.
A recent McKinsey study found that B2B buyers want the ability to communicate through multiple channels, including e-commerce, in person and remotely. This means that B2B sales must also become hybrid.
Stan Burns of Live Calls Network says going hybrid means a B2B seller must interact with customers not just in person, by phone, or email, but through apps, videos, and online chat. Proposals should be interactive and offered across multiple channels. And at the center of it all will be B2B companies that are committed to providing the flexibility that customers now demand.