How to improve your B2B Sales with smarter targeting
In B2B sales, success starts with knowing the right companies and industries to target—and understanding the key buyers within those companies. By creating detailed buyer personas, you can tailor your approach to match the needs of specific industrial buyers, increasing your chances of success.
Firmographics
One important aspect to consider is firmographics—the characteristics of a business that help you identify the most promising opportunities. These firmographics include:
- Company Size: Number of employees, revenue
- Industry: Technology, finance, manufacturing, etc.
- Geographic Location: Country, city, or region
- Company Type: Private, public, non-profit
- Ownership Structure: Family-owned or publicly traded
- Growth Stage: Startup, mature, or declining businesses
By analyzing firmographics, you can find patterns that correlate with sales performance. For example:
Industry Fit: Targeting industries that align closely with your product or service can result in higher sales potential. A software company, for instance, might perform better with technology firms.
Company Size: Larger companies often have bigger budgets and a greater need for your product, leading to more substantial sales opportunities.
Geographic Location: Where a company is based can affect sales due to factors like regional regulations or economic conditions.
Growth Stage: Startups and mature companies have different buying behaviors. Tailor your approach to their unique needs.
Company Type and Ownership: Publicly traded companies may have more formal purchasing processes, while private companies might be more flexible.
Refine your target list with ABC Analysis
To make a real impact, focus on the companies that bring the most value to your business. Use an ABC analysis to segment your customers: Use your CRM and excel to generate this list.
A segment: The top 20% of your customers that contribute to 60-80% of your revenue.
B segment: The next tier, contributing 20-50% to your sales.
C segment: The bottom tier, contributing less than 10% of your sales.
Once you’ve identified the A-segment, you can concentrate your resources on these high-impact companies. Remove or minimize focus on the C-segment to free up time and energy. This will certainly get you results!
Target the Right Roles
After identifying the right companies, it’s time to find the decision-makers. Look through your CRM or email system to see which roles you’ve successfully made deals with in the past. Common roles might include:
- CEO
- CFO
- Marketing Manager
- Purchasing Manager
- CTO
- Budget Holder
Create groups based on roles that have the biggest influence on purchasing decisions—those who buy, those who influence, and those who manage the process. This will help you focus your sales efforts on the people who matter most.
Activate Your Strategy
Now that you’ve built your target list, it’s time to engage. Use tools like LinkedIn Sales Navigator to find the right contacts in your target companies. Once you’ve identified key personas, reach out via phone, direct message, or email.
If you want to generate leads on a larger scale, consider running a LinkedIn ad campaign. You can target specific companies and job roles with downloadable content or a special offer on your landing page.
Now, get out there and start closing those deals! With a clear target and focused approach, you’ll see real improvements in your B2B sales.
Now that you’ve learned how to target B2B customers, we’re confident this approach will enhance your business. Focusing on the right companies makes all the difference, and cutting out non-performers frees up valuable time. You can reinvest that time into your A-list clients, improving both your targeting and the quality of service you provide.
