How B2B sales have been affected during COVID-19

How B2B sales have been affected during COVID-19

Due to the COVID-19 pandemic, lives and livelihoods have been destroyed and the destruction is still going on in various regions around the world. Although some areas are a little safer from this pandemic, it is for sure that the economic consequences caused by COVID-19 are terrible.

For sales managers and reps, it has become very important to take care of their customers completely and understand how they should react to these uncertain times. Managers also need to adjust their company’s selling by looking at the customers’ changing needs and habits. Sales leaders are adopting trends to deal with the crisis, focusing on targeted changes that help their business and prepare it to recover. 

In many cases, the products and services that are the need of this crucial time will be served first. The B2B companies which are still selling the products that are not considered essential during this time will have to face some serious disasters in the next few months. It is not going to work if they continue doing hard sales or become aggressive with sales and marketing touchpoints, which will ultimately come off as insensitive sales. Instead of that, B2B must be consultative while offering solutions and deals and show compassion. It may not increase their revenue but it will definitely help them to maintain relationships, which will turn beneficial when the situation will become normal. There are some tactics that B2B companies must adapt to survive during the ongoing outbreak. 

Be conscious of shifts in teams and managing morale.

As we all have to work from home due to the ongoing situation and social distancing. We uncover several ideas that can work for the B2B sales leaders

1- It may sound simple, but ensuring that employees are having adequate work from home setup where they feel comfortable as well as productive is difficult. We face many unknown difficulties in our working environment, and thus it becomes difficult to ensure that employees are having what they need to be successful. 

2- Communicate with your team regularly via different online mediums and discuss their progress.

3- Try to incorporate individual check-ins along with the team check-ins as frequently as possible.

Intense qualification of leads and buyers. 

1- Customers are still difficult, but more carefully and critically. Factors that are impacting buyer’s decision making are business and balance sheet health, initiatives related to the environment, and previous budgeted initiatives. 

2- Be extra careful of who you are selling within the organization, specifically in terms of budget owners vs economic buyers.

3- Enterprises are more likely to be buying than Small Medium enterprises.

Be Aware of positive sales learnings as a result of COVID-19. 

1- Sales reps are adopting quick decision-making skills on their own. During work from home, they are building strong and personal relationships with their customers.

2- Activity levels are generally high. Sales reps are moving from 5 to 9 calls a week given all are virtual.

Listen to your customers and share the learnings with your team for better performance. 

1- Businesses have been affected in so many ways due to COVID-19. Working on understanding current challenges, and finding ways may help your team provide value during this time. This works best when budgets are becoming constrained and companies are thinking about how and where they can save. 

2- Circulate learnings from customers’ calls on a daily basis. In this way, other functional areas in your organization may be able to step in and help out.