Key Takeaways:
Corporate sales negotiates deals with businesses, while B2B marketing uses promotion campaigns.
Both aim to boost revenue and relationships, with sales closing deals and marketing focusing on awareness and leads.
Understanding these differences is key for strategy.
Both corporate sales and B2B marketing are terms that you may have seen being used a lot in the business world. Did you know that an average of six to ten people are involved in a B2B buying cycle?
Corporate sales is nothing but B2B or business-to business sales.
Whereas, we only understand B2B marketing as a type of marketing strategy. Both corporate sales and B2B marketing are essential components for a company to run.
In this article, we will examine corporate sales and also understand how it is different from B2B marketing.
In this article, we will examine corporate sales and also understand how it is different from B2B marketing.
Part I: What is Corporate Sales?
Corporate sales refer to when a business or enterprise makes sales to another company, through everyday transactions. They are also commonly known as B2B sales.
Corporate sales are the foundation for many different industries. Many companies don’t own the entire production process that contributes towards the manufacturing of consumer goods. As such, you would use corporate sales for the goods manufacturing process.
Take for example, the agricultural industry. Here, wholesalers sell their own produce to supermarkets and grocery stores. These retailers then supply these products to customers in their area through individual distribution centers.
Not only do corporate sales include goods, but they also include services. In the case of finance, accounting and auditing firms frequently offer financial services to large corporations. Thus, earning the company corporate sales.
Corporate Sales Examples
Corporate sales, a vital aspect of business, often requires a tailored approach to different scenarios. Now, let’s take a look at three corporate sales examples:
1) Cross-Selling Additional Services
Imagine a corporate sales representative in the telecommunications sector. The objective here is not only to secure a phone service contract but also to cross-sell supplementary services like internet and cloud solutions.
By demonstrating how bundling these services can enhance efficiency and reduce costs, the salesperson can secure a more comprehensive deal. Thus, making this a noteworthy corporate sales example.
2) Negotiating a High-Value Contract
In this corporate sales scenario, a software salesperson is tasked with negotiating a substantial contract with a major corporation. The challenge lies in aligning the software’s capabilities with the client’s precise business requirements.
This corporate sales example illustrates the importance of personalized engagement and tailored solutions in securing high-value contracts.
3) Selling Technology Upgrades
Consider a corporate sales scenario where a technology sales representative targets a manufacturing firm. The goal is to persuade the client to upgrade their existing machinery with cutting-edge technology to enhance production efficiency.
Demonstrating clear ROI and showcasing how the new technology aligns with the client’s production goals are essential components of this corporate sales example.
Elements of Corporate Sales
The main elements that are essential to corporate sales include:
1) Prospecting
In corporate sales, potential buyers are first identified, then reached out and then eventually converted into buyers. They can be reached out through various mediums like cold calling, outbound email, etc.
2) Lead Tracking
Lead tracking as well as generation is a powerful method of increasing revenue in corporate sales.
In corporate sales, you’ll need to track, manage and nurture leads to turn them into customers. After acquiring qualified leads, you will also have to distribute them amongst your sales reps.
3) Opportunity Tracking
Opportunity tracking is a very useful process in corporate sales. It enables your business to manage and streamline your pipeline. As a result, this then allows you to focus on scaling your profitability.
4) Messaging
In corporate sales, messaging should know how to communicate with your customers. In addition to this, it should be able to position your product/service and close deals.
If your messaging for corporate sales is not strong, marketing teams may face issues filling the funnel and converting leads.
5) Channel Support
Channel support in corporate sales includes sales reps who meet with your prospects. Furthermore, it also involves retail staff, agents as well as wholesalers selling on your behalf.
6) Forecasting
Forecasting refers to the process of estimating how much revenue will be generated by your business in the future.
Most companies tend to make these predictions based on historical data. However, startups and new businesses tend to rely on market research alongside other insights.
How To Do Corporate Sales
Corporate sales is a dynamic field that involves selling products or services to other businesses.
Let’s explore some essential steps to help you thrive in corporate sales:
Step 1 – Know Your Product
Understanding your product inside and out is the foundation of successful corporate sales. You should be able to articulate its features, benefits, and unique selling points clearly.
This knowledge builds your credibility and allows you to tailor your pitch to meet the specific needs of potential corporate sales clients.
Important Tip
Whether you’re selling software, equipment, or services, a deep product knowledge will set you apart from the competition.
Step 2 – Build a Database
A robust database of potential clients is your treasure trove in corporate sales. Invest time in researching and identifying companies that are likely to be interested in your offering.
A well-maintained database streamlines your prospecting efforts and helps you target your corporate sales pitches effectively.
Important Tip
Organize this information systematically, including key contacts, industry details, and their current challenges.
Step 3 – The Importance of Cold Calls
Cold calling remains a potent tool in corporate sales. It allows you to initiate contact with potential clients who may not be actively seeking your product but could benefit from it.
Cold calls are about starting a conversation and identifying opportunities, so be prepared to listen and adapt your approach as needed.
Important Tip
Craft a compelling cold-calling script that highlights the value your product brings and demonstrates a keen understanding of the prospect’s business.
Step 4 – Taking Appointments
Securing face-to-face or virtual appointments is a crucial step in corporate sales. After initial contact, work on building rapport and trust with your prospects. When you believe they are sufficiently engaged, propose a meeting to delve deeper into their needs and demonstrate your solution.
The goal in corporate sales is to convert these appointments into valuable business relationships.
Important Tip
Ensure your presentations are tailored to each client, addressing their pain points and showing how your product can provide solutions.
Step 5 – Probing
Effective corporate salespeople are skilled at asking probing questions. This means going beyond surface-level inquiries and delving deep into the challenges and needs of prospective clients.
In corporate sales, it’s not just about what you’re selling; it’s about addressing the specific issues your clients face.
Important Tip
Use probing to uncover pain points, understand the nuances of their business, and identify how your product or service can provide tailored solutions.
Step 6 – Having Your Pitch Ready
A well-prepared pitch is your secret weapon in corporate sales. Your pitch should be concise, compelling, and tailored to the needs of your audience.
Highlight the unique selling points that set you apart from the competition. A well-crafted corporate sales pitch demonstrates your expertise and builds trust.
Important Tip
Begin by clearly articulating what your product or service does and the value it offers.
Step 7 – Follow-Ups
Successful corporate sales rarely happen with a single interaction. Consistent follow-ups are key to nurturing leads and turning prospects into loyal clients.
Effective follow-ups demonstrate your commitment to their success and can ultimately lead to closed deals.
Important Tip
After your initial contact, send personalized follow-up emails or make follow-up calls to express continued interest and address any questions or concerns.
Step 8 – Closing the Sale
Closing a sale is often seen as the climax of the corporate sales process. It’s the moment when your hard work and strategies culminate in a successful deal.
To excel at closing, it’s essential to read your client’s signals and address any remaining objections or concerns. Remember, closing isn’t about pushing; it’s about facilitating a decision.
Important Tip
Present the terms of the deal clearly and concisely, and be prepared to negotiate when necessary.
Step 9 – After Sales
Corporate sales don’t end when the contract is signed; they continue well beyond. After-sales service is an often overlooked but critical aspect of maintaining client relationships and ensuring their satisfaction.
Check in with your clients periodically to see how they are benefiting from your offering. This ongoing support can lead to repeat business, referrals, and long-term corporate sales partnerships.
Important Tip
Promptly deliver the promised product or service, and be responsive to any inquiries or issues that arise.
Part II : What is B2B Marketing?
B2B marketing, also known as business-to-business marketing, refers to any strategy that one business utilizes to target another business.
It is considered a necessity if you want your business to offer your services to other organizations.
In addition to this, you can use B2B marketing to make other businesses more familiar with your brand name. It also assists in conveying the value of your product/ service alongside converting them into customers.
B2B Marketing Examples
In the realm of B2B marketing and sales, practical strategies can lead to exceptional outcomes.
Here are three 2B marketing examples that shed light on effective B2B marketing techniques:
1) Targeted LinkedIn Campaign for a Software Provider
Imagine a software company specializing in project management tools. To execute a successful B2B marketing strategy, they craft a LinkedIn campaign targeting professionals in industries known for complex project management.
Through sponsored content and InMail messages, they offer free webinars on optimizing project workflows. By providing valuable insights and solutions for common pain points, they increase their chances of converting these B2B marketing leads into customers.
2) Email Drip Campaign for a SaaS Company
A SaaS startup with a new data analytics tool wants to engage potential B2B customers. They create an email drip campaign that focuses on solving specific challenges.
By gradually nurturing leads with informative content and success stories, they increase interest and conversions as part of their B2B marketing strategy.
3) Social Media Promotion for a Business Consultancy
A business consultancy firm seeks to reach B2B decision-makers. In this B2B marketing example, they leverage LinkedIn and Twitter to share concise, insightful posts and infographics related to common industry challenges.
By consistently delivering relevant content as part of their B2B marketing strategy, they build credibility and a following. Over time, this engagement translates into inquiries for consultancy services, showing the effectiveness of their B2B marketing and sales approach.
Elements of B2B Marketing
The main elements that are essential to B2B Marketing are:
1) Vision and Mission
Vision focuses on the future and what your organization ultimately wants to become. A mission statement concentrates on the present and what your organization can do to achieve the said vision.
2) Value Proposition
A value proposition refers to the various unique benefits customers receive when using your products/ services.
Ensure that they follow your overall brand positioning. Furthermore, it should be sure to align with your service or product messaging.
3) Competitive Landscape
Competitive landscape analysis enables your business to compare competitors’ corporate sales approaches and B2B marketing strategies. They are often conducted to illuminate gaps in the market.
4) Goals
Your B2B marketing goals must relate to your business’s actual goals. They should also be additional and based on B2B marketing activities that bring maximum value to your company.
5) Positioning
Brand positioning involves occupying a specific place in the minds of your customers when compared with competitors. It helps customers select your company over your competitors. This helps in more corporate sales for your business.
6) Buyer Personas
Buyer personas describe a character with certain key characteristics. They help you understand who you’re talking to.
Not only this, but they also help recognize who you’re designing products for as well as doing business with. Identifying buyer personas and having a specific targeted audience would help in better corporate sales.
7) Messaging
Effective B2B messaging can have a great impact on your business. It goes further than product comparisons and feature lists. Good messaging helps your buyers understand how your product can solve their specific problems.
How To Do B2B Marketing
B2B marketing is a strategic task that demands careful planning and execution.
To effectively navigate B2B marketing and sales, follow these essential steps:
Step 1 – Lay Out Your Position in the Market
Before embarking on your B2B marketing journey, you must understand where your business stands in the market.
Identify what sets your products or services apart from competitors and what value you bring to the table. This positioning will serve as the foundation for your B2B marketing strategy.
Important Tip
Assess your strengths, weaknesses, opportunities, and threats (SWOT analysis).
Step 2 – Explain Your Target Audience and Buyer Personas
Your B2B marketing efforts should be laser-focused on reaching the right audience. Start by defining your target audience – the businesses or professionals most likely to benefit from your offerings.
These personas will guide your content creation, messaging, and outreach strategies. Thus, ensuring that your B2B marketing speaks directly to the people who matter most.
Important Tip
Create detailed buyer personas for a deeper understanding of their needs, pain points, and preferences.
Step 3 – Set Goals
Clear and measurable goals are crucial for any B2B marketing strategy. Determine what you want to achieve, whether it’s increasing website traffic, generating leads, boosting sales, or expanding your client base.
Setting specific, measurable, achievable, relevant, and time-bound (SMART) goals will provide a clear roadmap for your B2B marketing efforts.
Important Tip
Make sure your goals align with your overall business objectives.
Step 4 – Outline Your B2B Marketing Tactics and Implementation Plan
Once you’ve defined your market position, identified your audience, and set clear goals, it’s time to decide on the tactics that will drive your B2B marketing strategy.
Create a detailed implementation plan that outlines who will be responsible for each task, timelines, and KPIs to measure success.
Important Tip
Consider a mix of inbound and outbound marketing techniques such as content marketing, email campaigns, social media, SEO, and paid advertising.
Corporate Sales Vs. B2B Marketing: What’s the difference?
B2B marketing strategy is targeted toward other businesses. But corporate sales refer to the sales that enterprises make to businesses.
While seemingly quite similar on the surface, corporate sales and B2B marketing are actually very different. Here are some of the differences between corporate sales and B2B marketing:
1) B2B Marketing Strategy Vs. Corporate Sales Strategy
A B2B marketing strategy involves how your business plans to reach as well as engage your target audience. Conversely, a corporate sales strategy aims to focus on how to convert those prospects into your customers.
As such, B2B marketing strategy should be centered around finding ideal prospects. Moreover, B2B marketing also focuses on how to generate interest in your solution and build brand awareness. Your main focus is on promoting the right message at the right time to the right individual.
However, your B2B sales strategy should be based around identifying and empathizing with your prospect’s pain points. Additionally, you should plan how to position your product as the best solution alongside converting prospects into buyers.
Typically, you’ll want to optimize how your marketing and sales strategies can work together. By understanding how they’re different yet interlinked, you’ll be able to move prospects along their buyer’s journey more quickly.
2) Purpose of B2B Marketing Vs. Purpose of Corporate Sales
The purpose of your B2B marketing strategy should be to define and then achieve your marketing goals.
Concentrating on your goals allows your team to rally together towards what you want to achieve. Moreover, it helps you identify the best campaigns and programs your business should invest in. Remember to ask you and your team, “How will this step contribute towards our goal?”
In contrast, your corporate sales strategy aims to create the smoothest path for converting prospects into customers.
It dictates how you can communicate with people most likely to purchase. Some of the best corporate sales strategies help you turn new customers into referrals and repeat buyers.
Conclusion
As you can see, corporate sales plays a vital role in many different ways across industries. In a similar way, B2B marketing too goes hand in hand with corporate sales.
However, based on the above information, the two processes are quite different from each other. But, both corporate sales and B2B marketing are equally important in their own ways.
By adjusting B2B marketing alongside corporate sales based on your prospects, your business can reap various benefits. You can shorten your sales cycle, increase revenue generation alongside repeat purchases and so much more.
Focus on both corporate sales and B2B marketing in equal measure and you’ll be sure to see results in no time at all!