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Business to consumer (B2C) brands have an advantage when it comes to boosting sales revenue at the end of the year – people expect to get great B2C deals and are ready to buy in the final weeks of the year. Traditionally, that hasn’t been the case for business to business (B2B) brands, but you can change the cycle for your B2B sales with the right strategies and tactics.
Following are five B2B sales tips that you can use to get noticed for the right reasons, stand out from your competitors, and close more deals at the end of the year.
Don’t listen to the myths that no one is in the office in December and no one makes big purchases in the final weeks of the year. The reality is that many people are working or their companies would go under.
Furthermore, many of your target buyers have budget dollars left that they have to spend before December 31st or they’ll lose that money. You can be the brand they spend that money on if you increase your B2B sales outreach in December.
Specifically, you should reach out by phone, email, text messaging, social media, and direct mail. The goal is to be top-of-mind throughout December and leading into the New Year. Even if someone isn’t ready to buy before the year ends, they might buy in January. You could lose that sale if you’re not doing B2B sales outreach throughout December!
Learn more here: Cannabis Industry B2B Sales Outreach Tactics that Work
Advertising cannabis and cannabis-related brands is nearly impossible on the most popular social media platforms like Facebook and Instagram, but social selling should still be part of your end-of-year sales strategy.
Research shows that 73% of salespeople who use social selling as part of their sales process not only outperform their sales peers but also exceed their sales quotas 23% more often.
The key to leverage social media to close more deals at year-end is to use platforms for what they were intended – connecting, conversations, sharing, and publishing. In other words, don’t just promote on social media or you’ll get lost in the clutter of December sales content. Instead, publish timely, useful, relevant content that keeps your brand top-of-mind and builds interest that leads to sales.
If you have the right B2B sales tools, you can close more sales in the final weeks and days of the year. For example, you can use social media listening tools like SproutSocial or Hootsuite to keep tabs on relevant conversations, and get involved! People are looking for solutions to problems, so be proactive and offer your solution before your competitors do.
Similarly, you’ll need a customer relationship management (CRM) tool and an email marketing tool to connect with the right sales leads at the right time. Use the data in your CRM to reach out to prospects with personalized messages and offers rather than generic campaigns. One-size-fits-all doesn’t work when you’re trying to make a year-end connection that leads to a closed sale.
If you’re prospect audience includes cannabis and hemp license holders in the United States, Canada, and international markets, then the Cannabiz Media License Database is the only sales and marketing tool you’ll need. With about 70,000 verified leads already included in the License Database and built-in CRM and email marketing tools, you can start your sales outreach immediately.
Learn more here: B2B Sales Tools to Sell to Cannabis License Holders
People expect promotions, discounts, and special offers at the end of the year. Both B2C and B2B audiences are looking for the best deals, so don’t disappoint them. Offer time-sensitive deals and tap into their fear of missing out on getting the best possible prices. Importantly, make sure all of your brand offers expire on a date that gives you enough time to close the deal and apply the revenue to the current year.
Popular year-end sales promotions that are known to work for B2B brands are buy-one-get-one (BOGO) and buy-one-get-one-half-off offers. Large percentage off discounts and discounts on bundled products or services also get attention during the last weeks of the year.
Be sure to remind prospects about your sales promotions multiple times. It’s easy for your messages to be forgotten or lost in the clutter during the holiday season!
Learn more here: Holiday Promotions to Beat Your Year-End Revenue Goals
Be flexible with your sales and payment terms to try to convince prospects who aren’t sure if they’re ready to buy to do so before the New Year.
Often, B2B buyers have budget dollars remaining that they need to spend or they’ll lose that money – and may not get it back in the following year. However, they likely want to use that money as effectively as possible. Make sure they understand your offer is one they don’t want to miss with sales and payment terms that help you close deals faster.
For example, you could offer a split payment, so they can use the money they have available now (so you get some sales revenue in the current year) and pay the rest later (so you get more sales revenue next year). Design terms that help both you and the customer meet your goals, and they’re more likely to buy before the year ends.
Sales outreach, social selling, sales tools, promotions, and flexible terms can drive more B2B sales at the end of the year for your business. Ignore the myths about B2B sales in December and start connecting with more of your prospects today!
Ready to close more sales with cannabis license holders? Schedule a demo of the Cannabiz Media License Database and see how it can help you reach your sales and marketing goals.