The B2B sales funnel is an excellent sales and marketing tool for tracking the buyer's journey from the first visit to becoming a lead, and eventually, to becoming a client.However, due to a significant shift in the persuasion/conversion game, B2B sales have altered over the years, and what worked a few years back is no longer effective. Your sales team is no longer in control in today's economy – the buyer is!Most B2B sellers are naïve and outwitted by those who know since today's buyer prefers to conduct all of the research with hardly any interference from the salesperson.In today's market, ensuring a smooth and lucrative ride requires a B2B sales funnel that is correctly connected with the buyer's journey.Consider an actual funnel that you'd use to pour liquid into a container: Let's pretend that the liquid symbolizes leads, the funnel represents the marketing medium [e.g., email], and the container symbolizes the location where your clients are served.At the top of the funnel, a great amount of liquid [leads] can enter at once, but as they progress down the funnel [through your email series], the funnel narrows to accept only those who are ready to buy and become your client.The following analogy depicts the buyer's trip through a sales funnel, which is divided into three stages:[toc]#1 Awareness:
During the awareness phase, most leads are looking for answers to their most important issues or knowledge that would appropriately address their pain spots.So, the type of information they're searching for here is anything that sheds more light on where they may get aid for their unique circumstance [obviously, this isn't the place to try to sell them something].#2 Consideration:During the consideration phase, leads have examined several choices for solving their problems and are now critically assessing the solutions available to them in order to find the greatest match [of course, from their own perspective].#3 Decision:The lead will determine whether or not to buy from you depending on how efficient the first two steps are. They become your customer if the decision is in your favor. If they don't, they'll leave before the sales funnel cycle is completed.
The B2B sales funnel is light years ahead of where it was [say 10 years ago] thanks to cutting-edge technologies. The B2B buyer, in particular, is far more knowledgeable [and hence savvy], which has completely changed their decision-making and purchase behavior.In the past, you'd take a targeted buyer out to lunch, arrange a golf outing, or have a sales team storm their office.B2B customers now spend 70–80 percent of their buying experience digitally, as per Steven Norman [founder of Growth Acumen]. They never meet a salesperson face to face.
A B2B buyer can undertake product research, read reviews and references, and make a purchase without being swayed by a single salesperson since they have so much information at their fingertips.All of this means that buyers have a greater degree of power in today's marketplace.To say the least, there has been a massive movement in power and authority from the vendor to the buyer. B2B sellers are discovering that they must constantly improve their game in order to stay on the radar of B2B buyers.To stay on top of the market, they must adapt to the always sales environment.What happens if they don't adapt? In terms of the shifting dynamics of today's economy, they die and are swiftly forgotten, giving way to those who know how to respond quickly and keep on top of things.Amongst the worst things that could happen to a B2B seller is to be completely unaware of the current client journey and to blame low sales and bad outcomes on a slow market or the sales team. The loss is gradual at first.While more quick-to-adapt competitors jump to the top of the pecking order, the late or non-adopters lose market share faster until they're entirely wiped out – especially if they continue to be ignorant.
What can you do now to adjust before it's too late?
"Every big success story is a narrative of ongoing adaptation, modification, and change," says Richard Branson. So, here are three crucial tactics to help you adapt like a champ:
#1 Reorganize your sales team:
Granted, your B2B sales team is still crucial to your sales performance, but you must recognize their new role in the B2B buyer experience and position them correctly.Yes, today's buyers don't want to buy something off the shelf, but they often don't want a salesperson to just tell them about the products.Instead, clients expect salespeople to help them navigate the complex purchasing process and then give a concise, personalized solution that appropriately resolves their pain point or issue.
#2 Use SEO and disruptive digital marketing technologies to your advantage:
The issue is that search engines represent 93% of online traffic, and prospective buyers are 50% more interested in opening a link if they see it numerous times. B2B vendors who invest in SEO gain an advantage over their competitors.For the bulk of B2B sellers trying to captivate the thoughts of customers in the past, going 'conventional' with their ad campaign was the way to go. Surprisingly, 54 percent of today's buyers indicate they are skeptical of traditional branded stuff.B2B vendors must embrace brand recognition and use digital technologies to win this sector.
#3 Leverage the power of "Big Data":
Take it or leave it, but B2B sellers that rely on big data instead of instinct are 6 percent more profitable. Companies that engage in AI and machine learning are now able to use big data to forecast buyer behavior far more precisely, based on previous purchasing history.This allows them to qualify leads by evaluating data and applying the results to develop tailored marketing messages that save money, increase efficiency, and boost sales – all while being predictable and consistent.
In today's world, you can't sit back on the sidelines and expect prospects to come to you and finally buy from you as a B2B vendor. Put on your "proactive thinking cap," find out which new mediums your prospects use, and create content that will attract, influence, and convert them.You must also collaborate with your marketing department, leveraging the information and recommendations gathered to develop sales tools that attract prospects farther down your sales funnel.This starts the 'courtship' between a B2B buyer and a seller, which establishes trust and assures success in today's B2B transactions.When it comes to B2B sales funnel and choosing a CRM for your early-stage firm, it's crucial to remember that there are many other possibilities besides Salesforce.Given the elements that are most essential to you and your future growth ambitions, you should examine the strengths and weaknesses of each.However, remember that good technology is meaningless without a well-thought-out and well-designed sales process that is specific to your buyers, market, and product.Begin there and work backward to discover the ideal solution to support this process while also meeting your company's present and future demands.For small organizations, Alore CRM is a powerful and integrated sales automation tool. It gives salespeople an end-to-end sales solution in one platform, from prospecting through month-end reporting.Alore believes in data-driven sales and presents data the way it should be — simple to understand and right in front of you. We're also the first SaaS company to use the Home feed design, which puts data and activity front and center.Alore Chrome plugin not only provides advanced CRM functionality but also helps you prospect better.