Just as the world is constantly changing, so too is the way that B2B Buyers buy.

The biggest shift has been and will continue to be related to the vast amount of quality data that is now available on the internet. This vast resource of valuable information has made it much easier for buyers to gather the information that they think they need in order to make intelligent purchasing decisions and this in turn has led to fewer opportunities for sales people to get in front of their customers and to influence those buying decisions.

According to Gartner, when we look at the whole time that a B2B buyer spends considering which purchase to make, only 17% of that time is actually spent with potential suppliers…..if they are comparing multiple suppliers, then the time with each individual supplier might be as little as 4 or 5%. That’s not a lot of time for a sales person to make an impact, especially when we consider the amount of classic sales activities they need to get through; rapport building, educating the customer, finding out about their needs, aligning and communicating the value of their solution, negotiating etc.

Many businesses think that this lack of access is down to the individual sales person’s ability to get in front of the customer and to communicate value quickly and effectively enough when in reality, numerous studies show that problem is far less to do with the sales person’s struggles to sell and far more to do with the customer’s struggles to buy.

The B2B’s customer’s buying journey

Research tells us that in complex B2B sales, the customer’s business has, on average, 6 – 10 decision makers armed with 4 or 5 pieces of information about possible suppliers and potential solutions. In order to make an effective decision, these buyers need to work together to assess and quantify the information and opinions that they’ve already gathered between them, at the same time as including the constant stream of new information readily available from other suppliers, the internet, technology etc. This is no easy task and never before has the term ‘complex sale’ been more apt.

In order to be able to navigate a complex sale, it’s important that sales people really understand the journey that B2B buyers need to go through in order to make a decision and the steps they typically take. Sales people also need to recognise, that this journey isn’t linear – B2B buyers may return to previous steps time and time again and they value suppliers that are able to facilitate this journey smoothly.

To make an impact with a B2B buyer there are some key things that sales people need to remember:

1. The process of buying is hard and complicated for the buyer – they have lots of information to work through and the sheer volume can mean that they inadvertently exclude the sales person from the process
2. Research shows that buyers really do need help from sales person at all stages of the buying process, in fact customers who perceived the information that they received from suppliers to be useful were 2.8 times more likely to experience a high degree of purchase ease and three time more likely to buy a bigger deal with less regret
3. To compete effectively, sales people should focus on providing customers with information that is specifically designed to help them to complete their buying activities at the right times during the buying process and beyond the sale

Artificial Intelligence (AI) is having an influence in your life whether you’re aware of it or not. AI powered algorithms decide which music or shows to recommend on your favourite streaming platforms. When you order something on Amazon, AI decides which other products to recommend based on your purchase. Those online ads that seem to magically promote products or services you’ve been thinking about? That’s AI choosing which ads to show you based on your browsing activity.

Yet when it comes to our working lives, we’re often presented with headlines that tell us AI is something to fear. It’s often framed as a technology that will eventually take our jobs away from us, but the truth is, AI is here to help us become better at our jobs.

There are various applications in sales where AI can add real value:

1.  Taking over menial tasks

Monotonous tasks prevent us from getting on with the more important aspects of our jobs and can sap the enjoyment from our working lives. In sales, the monotony can range from trawling through long lists of leads to gathering data on your prospects and creating weekly reports. These repetitive and time consuming tasks can be removed from salespeople’s workloads with AI, allowing them to get on with doing what they do best – selling.

2.  Feeling out deals worth chasing

All too easily you can waste too much of your time working towards a deal you believe will deliver, only to find yourself at a dead end with nothing to show for your efforts. AI can eliminate this frustrating process, effectively feeling out the deals worth chasing. Salespeople can train the AI to recognise a good deal and can even predict the products or services the prospect will be interested in based on previous sales data.

3.  Improving forecast accuracy

Predicting your team’s sales numbers for each quarter is one of the most daunting challenges of your job. Getting it wrong can result in your team falling short of the expectations you’ve set, so forecasting accurately is key. AI algorithms are now supporting sales managers by accurately predicting where your team’s sales will fall, making it achievable for your team to successfully meet the forecast you’ve presented.

4.  Recommending upselling and cross-selling opportunities

Selling isn’t all about sizing up prospects and getting a foot in the door. There are always upselling and cross-selling opportunities within your existing client base, but these can be easy to miss. AI can quickly identify clients that are likely to be open to upgrading the current product or service you’re supplying. Not only does this create more revenue opportunities – it also means a reduction in marketing costs.

5.  Calculating the right rates

It can be difficult to work out how much discount you need to offer to win a deal. Offer too much discount and you’re losing money the client would’ve been willing to spend. But if you don’t offer enough, the deal might fall through. AI can analyse specifics of past deals such as the size of the deal, how many competitors you’re up against, the clients’ revenues and more, to recommend the most suitable discount that you should apply to each deal.

It can be difficult to adjust to working with new technologies in the workplace. Sometimes skillsets and behaviours need to be developed to ensure people are getting the best value from working with the technology implemented. A blended training strategy that incorporates elements of both online based self-study and face to face training sessions will support the development of any new skills or behaviours required. With the right training strategy and the right technology investment, AI can be a transformative force for your sales team.