Taking the leap into business-to-business(B2B) sales can be a daunting task, particularly if your experience has been primarily in business-to-consumer(B2C) sales. However, by understanding the key differences and strategies involved in B2B transactions, you can confidently navigate this new terrain and potentially close deals worth millions.
Understanding B2B and B2C
At its core, B2B involves selling your course or program licenses to an organization, with quantities ranging from 10 to 1000, depending on the size of the organization and their needs. Conversely, B2C sales involve selling individual seats to your courses or programs, typically to individual consumers.
Due to the larger conversations, higher stakes, and greater investments required, B2B sales often require a longer time to close compared to B2C sales. You will be dealing with multiple decision-makers within an organization, requiring a multi-tiered approach to the sales process.
Building Your Online Credibility
While extensive online marketing seen in B2C sales is less vital in B2B sales, it's important to establish an online presence for credibility. Highlight your past results and the value proposition of your offering. LinkedIn is particularly beneficial for B2B transactions due to its professional nature and acceptance among decision-makers.
Implementing Effective Strategies
When embarking on B2B sales, consider the following actionable steps:
Leverage existing relationships: Utilize your current network and business connections. These relationships can often open doors to potential clients.
Build new relationships: Networking is critical. Attend industry events and connect with potential clients or collaborators.
Showcase your expertise: Use opportunities like speaking engagements, workshops, or conferences to demonstrate your knowledge and the results you've achieved.
Tap into LinkedIn: Use this professional platform to reach out to potential clients and establish credibility.
Finding Your Champion
Arguably the most important aspect of B2B sales is finding a'champion' within an organization. This individual understands the problem your program solves and is excited about your offering. They become your advocate within the organization, promoting your product and generating internal support, which can significantly influence the decision-making process.
While transitioning to B2B sales may seem challenging, remember that success comes from cultivating relationships, delivering tangible results, and identifying the internal champion who can guide you through the organization's decision-making process. Armed with these strategies, you're well on your way to confidently navigating B2B sales and licensing, and potentially closing million-dollar deals.
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