 Okay, with that, now let's look at the B2B sales funnel, which means when your customer is a business, not an individual, not a farmer, not a student, not an old person or a new person, but a business, a small business, large business, medium business, manufacturing business, farmer business, service business, etc. Then let's look at the funnel approach. The process is the same. You need to first identify your customer profiles. A target customer is also called a lead. It's very important that you identify the right customer profile. But the difference in B2B and B2C is that in B2C, you'll be dealing with crores of customers, millions of customers. In B2B, you'll be dealing with hundreds, maybe thousands or maybe tens. If you're selling airlines, aircrafts, you'll probably have 10 or 20 customers. If you're selling defense equipment, you'll probably have one customer, the government. So lead generation. And then you go and explain your value proposition. The difference is when you're reaching out to millions, crores of individual customers, you can do a lot of work electronically, social media, internet, or you can use print media, or you could use outdoor holdings. But in B2B, you have to physically make a call to explain your value proposition and give the information. And then there is one more step, which is very critical, which is negotiation. Because B2B transactions are large and complex. They're few, but they're very large. They may be worth 100 crores or 10 crores, a million dollars or 10 million dollars. So they're few, but very large, very complex, and there's a lot of negotiation. And that's not enough. You have to actually sign a contract because there will be terms and conditions. How will you deliver it? How will you install it? How will you service it? What happens if things go wrong? There will be a lot of terms and conditions, so they'll be very strong negotiated price and contracting process. And then, of course, after-sale service and making sure that you get good feedback and there's good advocacy, which means your customer is talking well about you to other potential customers. Let's look at some examples. How do you generate business leads, B2B leads? First, trade shows. So there are a lot of exhibitions, which you may not be attending, but if you read about them, you'll find there's a lot of exhibition in Prakati Maidan in Delhi or Nesco Exhibition Grounds in Mumbai and so on. And there may be sector-specific agricultural trade show. So there's a lot of technical trade shows, agriculture, defense, education, electronics, robotics, drones. Trade shows, trade directories. So they're listing of businesses. And I'll show you some examples later on. Industry associations. Association of car manufacturers, pharmaceutical manufacturers, car, automotive, component manufacturers, chemical manufacturers. They all have associations, so you can go to the association office and look up the website and get a list of businesses. Remember, what you're trying to collect here are names of companies. Company names, not individual people's names. They didn't do an internet search. And I'll talk later about how you can also use now that GPT and some of the new AI tools to do this search. Financial websites. They're 5,000-plus stocks listed on the Bombay Stock Exchange. And you can go to financial websites like Money Control or Sher Khan or Trendline and do a search industry-wise. If you're selling to a particular industry, you can do a search for companies in that industry and that becomes your lead. You can walk into an industrial park. The industrial park is where there's a lot of factories. The parks across India, in Baddi, outside Mumbai, Taloja, or in outside Pune, Chakan, or near Aurangabad. So a lot of industrial hubs have got industrial parks. And you can just drive around and write down the names of the companies there. And the other thing is, of course, coal coal. So there may be a high-rise building in Mumbai, a 50-story or a 20-story building, and in that, there may be 1,000 offices. And you go to the building and you go to the top floor and you keep going down and you're writing down the names of the companies. That's how you generate potential businesses. But the watch out is that not every company is your customer. So you have to identify companies which fit your target profile. It's not enough to just identify the company. Now you have to look within the company and find who are the people who will buy it and who will use it and who will pay for it. So typically it will be the buyer can be a combination of three or four people. It could be the user who will be a general manager of production, vice president of production, production head. It could be someone from finance who is going to process your payment, VP's finance, general manager finance, finance head. And it could also be quality control person or an IT person. So now you have to identify people within each of the companies that you have targeted. How do you identify the people in the company? LinkedIn. Go to LinkedIn and do a search. Finance people in that company. Go to company websites. Company website will list the employees especially the senior management. Go to the company annual reports. All companies publish one report every year which lists many things amongst them the names of their managers. You can go to register of companies and find who the directors are. You can actually walk into an industry seminar and a lot of people are actually physically there. And you could meet a lot of people or you could go to a trade show where a lot of people are coming and meet the people. So identify the business or the company and then identify the people in that company. Once you've identified the company and you've identified the people you then have to go and meet them and make a presentation to them. So that's called a sales presentation and a sales pitch. And all sales presentation will have four standard components. What is the problem that the customer has and what is your solution that you can use to solve that customer's problem. So a pitch must start or a presentation must say we think you have this problem and we think we can solve this problem for you with our solution. And then you highlight the benefits. How are you different and better, faster, cheaper than others. And then in a pitch you say here's what will cost you. Upfront, subscription and different ways of paying up. So here's a classic sales presentation. Problems, solutions, benefits and costs. In between there's a lot of negotiation. Because what does the customer want? He wants the best or the most at the lowest possible price. And what do you want? You want the highest possible price. And therefore there's a potential conflict. And therefore it's very important that you do not go for what is called win-lose-lose-win or lose-lose and win-win. So what do they mean? Lose-lose is when you've made a sales call and you've argued and you've lost the business. So it's a conflict and you could not resolve the conflict and you walk out. What's win-lose? Win-lose is when the customer has got what he wants which means he has brought you down on price, example. So the customer has won but you have lost because it's not making money. Lose-win is when you have won because you've got a very high price but the customer has lost. Now he may buy from you once but he may not buy from you again because he's angry. And therefore the best way to negotiate is what is called win-win where the customer thinks he has won and where you are happy because you've got what you wanted. And if you look at the framework, win-win happens when you do not lose on just your objectives or only on your customer's objective. We look at both your objectives. So how does win-win negotiations happen? Here is a high-level view of win-win negotiation. First you have to talk to your customer when you first meet him and say, hey, let's create something, a deal, a purchase process where you get what you want, you achieve your objective of your production numbers, whatever you're producing, whatever you're trying to do. But we also are happy because we make some money, some profits and therefore you are satisfied and we are satisfied. So you have to start with the mindset versus saying, it's my price, take it or leave it. Or the customer saying, you have to accept this price, take it or leave it. And then you have to create a common vision. Hey, look, let's have a long-term partnership. We are very good. We know our value proposition. We know what you want to do and we can help you do that. So you have to move your customers when you're negotiating into a common vision where the customer gets what he wants and you help him get what he wants. But in return, you get what you want from the customer. And to do that, you need to be very transparent versus hiding and saying, you have to be very transparent and say, hey, let's be very open, let's be very candid, let's be very transparent and say, here's what I want. I can give you 1, 2, 3, 4, 5 under terms 1, 2, 3, price 1, 2, 3. Now what do you want? And the customer can be very transparent and honest and say, OK, I need this, this, this, but I don't need this, I don't need this. And I can pay this price and I can this price, but I can't that price and I can accept this term and that term, but I can't accept it. So there's a discussion process, a very friendly win-win kind of a discussion. And if there is conflict, there will always be conflict. But that's resolved not through argument and, you know, I'm better, I know better. But it's resolved through dialogue and an empathy. And you as a salesperson have to really build trust and relationship with the customer. The customer has to trust you and like you and say, you are a person he can do business with. So that's win-win negotiation. There are lots of training programs, they're very complex. It's about human interaction. So if you want to build a career in sales, you should definitely learn the art of negotiation. We'll talk sales skills later on. Once you've done the negotiation and assuming that you have got the order and you've been able to deliver the product or the service, you then move into post sales. Because for a business which buys a complex product or solution from you, the chances are need post-sales service from you, which is also called after-sales service. And therefore, as you can see on the slide, you will be able to offer after sales or post-sales service and it must be easily available to your customer. Here's one more example. There's an electronic example that if any of you buy a Dell computer, you get a software automated after-sales service to check for errors in your laptop. And it's a software. So whether it's physical like Godridge or electronic like the Dell example on the screen, you have to provide post-sales. And it must be easy to access. Here's an app-based support for Toyota cars. So in this app, you can actually book your service and check some basics that you want from the Toyota once you've bought their car. Moving on now. So as you have seen, the whole sales process can be quite complex. And if it's a simple product that you're selling, a biscuit or soap or detergents or logeants or toffee, the sales process can be very short. But if you're selling complex products, most complex being defense or aeroplanes and then less complex robots, industrial equipment and less complex phones or cars or scooters and then basics like a bicycle or a farming equipment, you still have to manage the process for many, many, many customers. So there are automation tools which have existed like salesforce.com and there are many others like Salesforce. And recently what has emerged are AI-based tools. And many of you would have heard about a tool called Chatsypity, but there are many others like that. So let's have a look at sales automation. How do you automate the entire sales process? So what does sales automation do? Remember, Salesforce, salespeople, salesperson, sales managers have a very busy schedule because they're always running around after customers. So how do you plan your day? How do you decide which customer will I go to? Will I go to a customer in Delhi? Will I go to a customer in South Delhi, North Delhi? When I go to a customer, what will I sell? What has it brought from me in the past that I can sell again or not sell again? So there's a whole daily management schedule and sales automation tools can help you plan your day. 10 o'clock, go to this customer, do this. 11 o'clock, go to that customer, do this. 12 o'clock, answer your emails. So your entire daily management can be assisted by tools like that. Lead generation, it can help you identify customers, new customers, but existing customers which have bought one or two products but can buy other products from you. That's lead generation. Lead conversion is basically how do you move those leads, potential customers, through the funnel? Give them more information, generate the intent, assist them to buy and collect the order. And then there's a lot of analysis and CRM tools can help you do that. You can generate reports, which is growing, which customer is growing, which segment is growing, which industry is growing, and am I making money, not making money? Reporting and tracking, all of this can be automated with the use of sales automation tools. So what are the automation benefits? Obviously you can respond to your customers better. You don't have to wait for the customer to tell you what he wants. You can, because you've got a whole database which you can analyze, proactively approach the customer. You also can plan your day better. Instead of going to every customer who may or may not need your product because of the sales database and the sales processes that the automation tool provides you, you can target your customers better. You can do database selling. You can go to a customer and say, you have taken products ABC, but we also have products DEF. Or you have taken these features, but there are additional features, there are upgrades. So you can do database selling. You can do deeper engagement because you can, for example, predict and say, you bought this from us, it's becoming old. We've now got a better product, an upgraded product, would you be interested? So you become very productively and proactively engaging with the customer. And all of this ultimately leads to what you want as a salesperson and what your company wants, which is to grow sales and revenues. So we have the traditional customer relationship management tools called CRM tools, but increasingly they're also AI based sales enablers, AI based tools. And all of you would have heard about open AI or chat GPT or LLMs or generative AI. And you can use chat GPT or similar AI based tools to do some basic work, which would have earlier taken a lot of work. For example, target market and customer identification. Let's say you're in the robotics business or laptop or phones or fridge. You can actually use chat GPT or some of the AI based tools to ask a question. What is my best target market? And who can be my best customers, most potential customers? You could further ask who could be my best potential customers in North Delhi or South Delhi or Haryana or Tamil Nadu or Telangana or Africa or Indonesia. You could also ask who could be my best potential customers in Africa, mid-sized companies who are in the chemical or automotive industry? So you could ask those questions to the generative AI tools like chat GPT and very quickly get answers like this versus earlier where you had to do a lot of research. You could also identify customer problems very quickly. You could ask a question and say, what are the biggest problems the automotive industry is facing? Or you can go deeper. What is the biggest problem in car engines? What is the biggest problem in car seats or scooter wheels or refrigerator compressors? You could also even generate a solution. So you may have a core product, but is that product correct? You can ask, will my solution ABC solve the problem of XYZ? So those things you can now use AI-based tools to very quickly get answers from. You could also use AI tools in a daily management. For example, you could actually ask a chat GPT or similar software to draft an email for you. Well, draft it. You give it a few key points and it will draft an email for you. You could even ask the AI tools to do a sales presentation for you. You say, here are the bullet points and can you please make a business plan or a sales pitch for my customers? Here's the customer profile. Here's my solution. Here's what I think the needs are. Can you please give me a sales pitch? And you can generate that very quickly. So it saves time. You could also respond to your customer better because you can build an AI-based chat bot or a voice bot. So you don't have to physically answer basic questions from the customer. You could just have a chat bot, feed it with a lot of your customer data, and when the customer calls up, the AI-based bot can answer. And it saves your time. And you may be on leave or traveling or not in office. The customer still gets a response. So customer responsiveness goes up. You could use AI-based tools for demand forecasting, which is a very important sales function because the production people in your company would like to know how much you're planning to sell. If your forecast is this much and the production is so much, there will be unsold orders or orders which are not serviced. But the demand is so much and the production is so much. You'll have excess inventory. So demand forecasting, demand planning, and relatedly revenue planning or financial planning is very important. You can use the AI tools to do that kind of planning. So I talked about the traditional CRM tools, and I've talked a bit about AI sales enablers that are coming out. I would encourage each of you to look around for courses and understand this new trend better. So now we come to the second reflection point in this module. And in your course journal, write down what I have talked about and the key points that you want to take away. But you also think about, let's say, you are doing a startup for a particular product or a solution. Try to think about how will you sell to your business customers? What skills do you need to make a sale to your business customers? And we'll talk about skills in a minute. How will you develop those skills? How will you do win-win negotiation? How will you make a good sales pitch? How will you generate and identify leads? How will you do lead conversion? How will you be customer responsive? How will you negotiate? So write down some of these points so that you can absorb and remember them better. So what are the skills that a great salesperson needs? Remember, a lot of the skills in selling is not about data or technology. It's a lot about people. It's people-to-people interaction. And therefore, you have to be able to build trust and relationship with your customer. Because unless the customer trusts you and has a relationship with you, you'll not get the customer's business. And you have to be trustworthy, but you also have to be able to communicate well. And you have to be able to persuade your customers to buy your product and give them confidence and give them a reassurance that you're a good person to do business with. Your company is a great company to do business with. Your value proposition is a very good value proposition. You will have to also know a lot about your products and how they can solve the customer's problem. So you have to be able to understand from the customer what his problems are. If the customer has a problem, ABC, and you're thinking that the problem has XYZ, the customer will never buy from you. So you have to understand exactly what problem the customer has. And you have to then explain how your own company product or solution best can help the customer. So that's customer problem identification and solution. And then you have to be able to do a lot of data analysis, both your own company data, trends and opportunities and strengths and weaknesses about your own company. And then if you look at the data from the market and the industry and the people and the person that you're going to meet with and look at all of the data. And of course, finally, selling is all about negotiation. Customers will want this. You will offer this initially, but then how do we slowly get a match within the customer problem and the customer solution that you're offering? So sales can be a very, very rewarding career. It's a very exciting career. And if any of you choose sales as a career, I encourage you to take a few more courses but very quickly start practicing selling either in your job or if you do a startup or if you're interning as a student. So with that, we come to the end of this module. Namaskar. Thank you.