Let’s face it, B2B startups are a lot harder to get off the ground then businesses selling to consumers. You’ll find that the top startup lists are filled with B2C businesses. With very few enterprise companies in sight. Providing business to business products or services can be one of the most profitable routes to go down. It’s also one of the most difficult. These five reasons are why you’re not making as much money as you’d hoped.
1. You’re not proactive
With B2C companies, it’s a lot easier to draw in customers. They tend to find you. B2B is entirely different. There’s a lot of chasing involved. This means you’re going to need to hit the phones and send out all those emails. Put together letters and proposals to send out. Call cold leads and warm leads. Follow up. You need to be as proactive as possible, if you want your new business to take off. It may be worth investing in an outsourced salesperson if you find it difficult to seal the deal.
2. You’re not offering enough
What is it you sell? If you’re focusing on one product, then you might be closing doors for yourself. Think about how that one service or product can be expanded. If you provide copywriting services then do you just stick to writing leaflet copy? Or can you do online copy too? Perhaps you can write press releases and blog posts. You could even open up some consultation slots, to teach new business owners how to content market. Create a spider diagram of your products or services, and see what else you can offer that ties in nicely.
3. You’re not being found
Most of your B2B clients are going to come through being proactive. However,it’s a good idea to market yourself at the same time. Customers falling into your lap will offer a much better ROI. Look for a B2B SEO company who can work on your website. You want to be found on Google for all of the products or services you offer. Do you have social media accounts? Utilise them. Ensure that potential clients can find you, when they need something you offer.
4. You’re not networking
One of the most important marketing methods for B2B startups will always be networking. By meeting other business owners, you’ve instantly got a pool of new contacts to potentially sell to. There are plenty of networking opportunities available for new enterprises. Attend every breakfast meeting and dinner party that you can. Go to conferences, summits, and seminars. Don’t forget to take some business cards with you! The more people you meet, the more your business name will be spread around.
5. You’re losing hope
This is quite a common problem with any kind of startup, but particularly in the B2B market. It can be so easy to lose hope and motivation. If the sales aren’t coming in, then you may want to give up. Perhaps go back to your old job. Stop! Building a business takes time. Work hard at it, and you’ll soon be successful.
Are you doing any of these things wrong? If so, you need to make a change. Put a couple of these into practice (or all five) and you’ll soon notice a difference.