B2B sales tactics for the cannabis industry that work

The reach of B2B sales of the cannabis industry can be challenging, especially for anyone selling products and services with long sales cycles. While it is true that this is still a new and fast growing industry, there is already significant competition between the brands selling to cannabis licensees across the supply chain.

With that in mind, there are some B2B sales tactics that have been tried and tested in other industries and are equally effective for the cannabis industry. The most important thing to remember is that a single contact is unlikely to result in a sale.

According to statistics recently compiled in a ZoomInfo infographic, high-growth companies report an average of 16 touchpoints per prospect in two to four weeks. That’s because 50% of sales come after the fifth touch point. In fact, research shows that the optimal number of sales calls attempted is six.

The problem is, research shows that the average sales rep makes only two attempts to reach a prospect, and 44% of salespeople give up after just one try.

Any seasoned B2B seller will tell you that persistence is the key, and that is absolutely true in the cannabis industry. As ZoomInfo’s infographic explains, only 3% of your market is actively buying at any given point in time. Another 40% are preparing for the buying process and 56% are not yet ready to buy. If a seller hits 96% of the market that is not yet ready to buy, they are unlikely to get a positive response. This is why perseverance is so important!

For sales reps ready to connect with and convert leads, five of the most effective B2B sales tactics to focus on when selling to cannabis license holders are phone, email, SMS, social media, and direct mail.

Telephone sales

The average sales representative makes 52 phone calls per day. How do the numbers on your sales team compare? As mentioned above, a phone call or two is unlikely to convert even the hottest leads. So create a phone call plan that makes the most of each sales rep’s time.

For example, create buyer personas so you know the best people to connect with, but also to start the right conversations with each person. Are you an end user, decision maker, or decision maker? Before each call, do some research to understand who they are, what’s going on in their company, and what their problems, needs, and weaknesses are.

Use the Cannabiz Media License Database to learn about individuals, licenses and companies across the supply chain so you can connect with the right people at the right time. Phone numbers are included in the individual, license, and business records in the license database when the information is available so sales reps can click and call.

In addition, the Cannabiz media license database contains message notifications about licenses, making it easy for you to find timely opportunities to call specific people. Combine these license notifications with Cannabiz Media’s Business Intelligence ™ product for insights into cannabis companies and licenses, complete with custom watchlist messages and notifications.

One-to-one email sales contact

One-to-one email sales leads are just as important as contacting them over the phone and can be extremely effective when used in conjunction with email marketing efforts. For example, if email marketing campaigns are sent to guide prospects through the marketing funnel – from cold leads to hot leads – the sales team should use the data from those campaigns to determine which leads are directly connected to and what topics are related to them should be discussed.

Sales reps can do this in the Cannabiz media license database by viewing email campaign data to search for prospects who have opened marketing messages and clicked links in those messages multiple times. You can also see what messages potential customers opened and where links went, which makes it easy to come up with ideas to start conversations over a personal, personal email message!

One-to-one sales contact with text messaging

Research included in the ZoomInfo infographic shows that sending SMS leads after otherwise contacted results in a 112.6% higher lead-to-engagement conversion.

In other words, text messaging can increase sales, but texting before contacting you by phone, email, or any other channel will produce very different results. Research shows that sending text messages to prospects before contacting them by phone reduces the likelihood that the seller will be able to successfully contact those prospects.

The bottom line is that people are protecting their text inboxes, so make sure you build brand awareness and make initial contact via phone, email, social media, or direct mail before doing sales with prospects via SMS.

Social media sales outreach

Social selling is an important part of sales today. In fact, social sellers are 51% more likely to hit their sales quotas, so social media should be a fundamental part of the cannabis industry’s B2B sales tactics.

Social media sales outreach involves reaching out to prospects directly through connections and messages on sites like LinkedIn, Leafwire, and more. This includes sharing and commenting on content and being active in relevant groups where your target prospects spend time.

You can easily access the cannabis license holder’s social media profiles and pages directly from each contact’s records in the Cannabiz media license database, so you can socialize quickly and easily with a single click of the mouse.

Direct mail for sales

In this case, direct mail does not refer to direct mail. It refers to mail items that a sales rep sends directly to a prospect. It’s personalized and thought out, not generic.

This type of mailpiece could be an introductory letter to a new lead at the top of the funnel with the aim of generating brand awareness, or it could be a brochure or useful educational material sent to build trust with a prospect who is in the middle the funnel is under development. For hot prospects at the end of the funnel, direct mail is the perfect way to share product samples.

Cannabiz Media License Database subscribers can access postal address information for licenses and corporations, based on availability.

Key takeaways on the cannabis industry’s B2B sales tactics

The cannabis industry’s B2B sales tactics are similar to tactics used in other industries. The keys to success are research, goal orientation, and perseverance. However, getting access to contact information and insights from cannabis license holders can be challenging.

Fortunately, the Cannabiz Media License Database has all of the information sales reps need to connect with prospects and more. Schedule a demo to see how the Cannabiz media license database can support your sales and business development efforts.