Introduction
When you're selling B2B, your path to making a sale can be long and complex. The process often involves multiple decision-makers who interact with each other before making a purchase. This means that even if there's interest in your product or service, it may take several months before you get an order.
B2B sales are more likely to have a long, complex process
B2B sales are more likely to have a long, complex process. You might have one or several decision-makers, each with their own priorities and time frame for making a purchase. And there's no guarantee that the people you're working with will stay in their roles—it's possible that your favourite account manager could be promoted to head of marketing or that your best prospect may get lured away by another company.
The good news is that many B2B sales processes are formalized and standardized across industries; they follow similar patterns, which means they can be more predictable than consumer transactions. That predictability gives you an advantage when it comes to planning how much time it's going to take for you to close a deal (and how much money).
In the early stages of a sales cycle, a business may not be ready to buy
In the early stages of a sales cycle, a business may not be ready to buy. They may be in the early stages of their strategic planning process and are still gathering data. Or they may not have the budget to make a purchase at this time. Other reasons include:
- - The decision maker of your target company has changed positions since you began working with them, so they don’t have authority over making decisions anymore
- Your target company has merged with another company or been acquired by a larger competitor, and now you need to work with someone else who doesn’t know you or trust your product or service
Sales cycles can last for a year or more because of multiple decision-makers
- You’re selling a complex solution that involves multiple departments, and it can take time to get everyone on the same page.
- Buyers are slow to make decisions. They have different priorities and often need to go back and forth with decision-makers before making an offer.
- You might be selling a solution that has many moving parts or requires multiple people to sign off on purchase orders. In these cases, you may need more time than expected before closing your deal—and you should plan accordingly!
It's important to be patient and respond when customers reach out.
Remember that B2B sales take time. It's important to be patient and respond when customers reach out. When they do, be prepared with your answers and follow through on any commitments you make. Remember, once a customer commits to buying something from you, their decision-making process is over; so if all goes well, they're likely to complete the sale sooner rather than later—but it can still take months or even years before that happens!
Conclusion
B2B sales are more complicated than consumer sales, so it's important to be patient and respond when customers reach out. Often, they'll have a long decision-making process that may take months or even years. In the early stages of a sale cycle, businesses may not be ready to buy what you're selling yet so keep in mind that there is plenty of time before they commit. Also, remember that multiple people will be involved with each purchase decision which means you'll need to work with different departments at different times throughout this process