What is the most important word in sales?
Imagine leads your client to visualize what your product or service can do for them, and how it can change their current situation. We picked this up from our guest speaker John Nives at our Biz Dev Dive event held on January 31 at Spark Labs with our co-organizers Global Commerce Education, Inc.
We were very excited to bring in John because of his unique business development track record in sales for companies ranging from exponential-growth start-ups to Fortune 100. John worked at IBM on Cognitive Digital Transformation projects related to Watson, Big Data, Analytics, Social Business and Marketing/Advertising Technology that have resulted in $100+ million growth. Prior to IBM, John served as Vice President of Sales at AppNexus where he led explosive sales growth, driving sales cycles at top digital publishers including Wall Street Journal, Conde Nast, Pandora, Time Warner, as well as top advertisers and agencies. He now is the Chief Digital Officer and Global Chair of Digital Transformation at N2Growth.
John compared notes with our team and participants on best practices in sales and business development. Participants consisted of business owners or executives focused on the B2B market looking to grow their business and secure new clients.
So what exactly do you need to know about B2B sales?
One question discussed with participants is the following: What are the three main types of client buying behaviors, and why does it matter to know which type of buyer you are speaking with? We discussed with John three main types of client buying behavior: the innovator, who is interested in buying and employing new and leading edge products or services; those who base their buying decision on trust and seek assurance, typically risk-avoiders; and the value-seekers, primarily driven by cost and economics. Figuring out what type of client you have as early as possible will maximize your chances of landing the sale. Also discussed: how to distinguish your most promising prospects and those least likely to buy from you, as rapidly as possible; the “3 Why’s”; laying out a sales strategy; surprisingly effective methods to get a response to cold calls and meetings…
This is only a portion of the sales and business development best practices discussed with John and our rountable participants. The roundtable included ample time for Q&A, interaction, and elevator pitch practice sessions. We were especially impressed with our participants’ thoughtful questions and insightful comments. We were pleased to welcome the CEO of an event space booking service firm, the founder and creative director of a creative digital agency, the CFO of an online media platform, and more. The challenges they brought to the table were varied and unique, bringing different perspectives and experience into one place.