With a lot of companies across numerous sectors worried about increasing overhead costs with inflation looming large, business-to-business sales need to work harder than ever to bolster sales. Here are a few things that you can do to get a greater number of customers and boost your sales volume.
Try a New Approach to Lead Generation
Coming up with a steady stream of new leads is no small feat, and the same can be said of managing the leads that you’ve already worked hard to rake in. It takes a fair amount of research and tons of time, and lead engagement may not be the best use of your sales team’s time.
If you had your druthers, your most valuable team members would be spending almost all of their working hours closing sales with qualified leads. However, this is rarely the case for most large corporations. In fact, recent business statistics on sales activity indicate that salespeople spend less than a third of their time actually selling their company’s products or services.
To bring in more leads without taking more selling time away from your best-performing sales reps, consider using an outsourced lead generation service. This could help you identify and establish promising connections with the businesses that want to engage. A lead generation service can apply various criteria to creating call lists of companies. A few examples of criteria might include a company’s location, industry, or the size of its customer base.
Lead generation derived from outreach communications and materials that prompt potential customers to learn more about your company may invite a huge influx of interest. You can capture their attention with targeted digital marketing initiatives such as ad services. Fillable forms and compelling incentive offers geared towards commercial consumers shopping for various goods or services can boost your yield of leads dramatically.
Enhance Your Email Marketing Strategy
Email marketing campaigns are among the most cost-effective ways to make contact with prospective business customers and nurture your relationships with your existing customer base. Ideally, you should be using a comprehensive analysis tool to track how well your email marketing communications are performing.
Consider which communications bring traffic onto your website. Honing in on the messages and materials that grabs people’s attention and steers them your way could help you design well-crafted content to continue duplicating this high-caliber content.
Of course, you don’t just want people to check out your website. Your campaigns have to hook sales, so your review should definitely feature a detailed examination of the messaging directives that are producing leads which ultimately generate sales. That lets you know how effectively you’re setting your sights on the right target base. Moreover, it gives you crucial insight into how meaningfully and persuasively you’re getting your main messaging across.
Set Price Points Discerningly
If you’re facing a formidable increase in some of your biggest overhead expenses, you’re certainly not alone. B2B companies in multiple sectors are feeling the hit. Many companies are coping with rising overhead by attempting to offset the entirety of the increase onto their customers. However, it’s safe to say that driving up the cost of your business’ products or services could really hurt your sales volume.
Remember that your commercial customers are also feeling the financial pangs and stressors induced by inflation, so they’re looking harder than ever for competitive prices to reign in their costs. Survey the marketplace to see where your pricing stands in relation to your competitors. If you find significant discrepancies, you’ll need to take corrective action.
Rather than pushing all additional increases in general expenses onto customers, make refining your operating budget your first order of business. Capturing savings on key line items could protect your profit margins. Become more energy efficient and bid out service contracts competitively. Downsizing your operating space or utilizing a hybrid work environment could also yield appreciable savings.
Ultimately, using your resources strategically and staying adaptive can enable your B2B company to thrive in challenging conditions. Monitor the efficacy of your marketing and sales efforts vigilantly to maximize your net revenue.