B2B sale is quite tough compared to B2C and D2C sales. If you are selling cotton fabric wholesale online via TEXchange, marketing might be a tad bit easy, but then again, the platform is filled with ace B2B leaders. They are as experienced as you are and have the skin in the game. There are hidden mistakes even the most senior and seasoned wholesale fabric suppliers online in India continually repeat.
So, for your long-term success, identifying and addressing those and using our sales and marketing tactics to gain the upper hand in your target marketplace is non-negligible.
Here are a few frequently repeated mistakes that our trading experts proactively identify and avoid to close more deals.
- Not Identifying Prospective Leads
Chasing the wrong lead can decrease ROI and increase customer acquisition costs, with the effects lasting for a very long time. Sometimes, your sales team may entertain leads with very low conversion rates. This is a complete waste of resources and time.
Instead, implement a proper lead generation and screening approach to zero in on the customers with the highest potential to close a deal for wholesale fabric online.
This boils down to research and knowledge of the industry and finding the right contact details of the key decision-makers.
- Neglecting Building Relationship
B2B sale is all about forming solid relationships with buyers and sellers. However, far too many salespersons focus on conversion rather than building relationships without understanding that customers only return when they are satisfied with the products as well as the support services.
Do not approach B2B sales with a short-cut plan. It is a lengthy process where you must warm the leads with various monetary and non-monetary incentives. Since the chain of decision-makers is long in B2B, you must also draw on a strategy that allows you to nurture each relationship and various touchpoints to get a “Yes”.
- Ignoring Existing Customers
In the pursuit of new customers, people forget to tend to the most important link between them and their success – the existing customers. While attending to new customers is important, nurturing existing customers who are loyal to your business is equally crucial. Meaningful and frequent engagement strategies will help you satisfy and retain them.
- Rushing Your Customers to Close a Deal
In the fervor of achieving monthly targets, many sales representatives selling wholesale fabric online tend to rush potential customers into signing the deal, resulting in customers feeling pressured and ultimately turning away from the deal.
In B2B sales, you must let your customers understand your company and your products and give them enough time to consider the pros and cons of associating with your business. Instead of being pushy and calling them every day, be respectful of their time and send encouraging follow-up emails. But don’t send more than three emails a month.
Try to inquire about your customers’ pain points and address them diligently. Also, find out why they are hesitant to commit and whether they are simultaneously looking up your competitors. Informed and data-driven answers will help you create personalized deals for your buyers and add more value to their business.
Even if they are not looking to buy your products immediately, impress them with free demos, real-life case studies, use cases, or free solutions to occupy a space at the top of their mind.
- Not Asking the Right Questions
Most sales reps fear asking the bigger questions, thinking they might drive the customer away. However, asking the right questions will help your salespersons create a better impression on your lead.
The right questions will help wholesale fabric suppliers online in India understand the customers’ pain points, address issues and objections, build value and relationships, demonstrate their values and solutions, and, most importantly, increase the chances of closing the deal at the best price.
By asking the bigger questions, you can provide data-driven insights and even guide your textile buyers to make the right choice. This will help you demonstrate your value proposition and qualitative benefits and differentiate yourself from competitors despite competing together in TEXchange Global.
- Highlighting Only the Benefits of Your Products
B2B buyers are already experts in the market, so you cannot fool them with one-worded features and functions. No matter how good you are as a yarn manufacturer, your customers won’t close a deal with you if you don’t solve their problems.
Research your prospects’ key challenges, competitors, business, and the overall market to fulfill their demand with a specific solution. For instance, when you sell Wholesale fabric online in India, you need to lead the conversation with the solutions you or your product can offer rather than just talking about the products.
The best way to go about it is by reiterating your claims: what kind of packaging you use, how fast you can deliver, what is the after-sales service guarantee, and whether you offer free samples.
- Other Mistakes that B2B Sales Reps Need to Avoid
B2B sales don’t happen instantly. It needs communication, collaboration, and tracking and measuring results. Other mistakes that you can encounter while trading wholesale fabric online in India include the following:
- Not using a CRM system to measure the sales process.
- Not automating your internal processes, inventory management, logistics, and transportation.
- Bombarding your customers with too much information and ad campaigns.
- Relying only on one source of communication, such as email or website, to pitch your sales strategy.
- Not offering an omnichannel experience to your target customers.
- Not showing enough confidence when pricing your premium products at the right cost. Or not providing multiple or flexible price and payment options.
Looking for a Way to Expand Your B2B Sales?
Do you want to increase your sales online? TEXchange Global is a trading platform catering to wholesale fabric suppliers selling online in India with a fully automated online marketplace. The platform helps you address India’s constantly changing textile industry with digital solutions like TEXauction and TEXbulletin.
For more details, look into our services.