In the not-so-distant past, a B2B sales team could rely on a solid strategy like BANT and marketing funnels to identify a good lead.
They could count on soft skills and in-depth knowledge of their product to get them across the next couple of hurdles.
Today? Not so much, according to Pete Caputa, an executive with Hubspot.
As you already know, technology has changed everything for the average buyer who’s in the market for your product. One of the first keys to adapting to this new buyer is to get a full understanding of where she or he is coming from.
The next step is figuring out how to best approach them at the right time — not an easy proposition.
But the effort is well worth it, according to the McKinsey Institute, which conducted research that revealed that the B2B sales process is, indeed increasingly complex. But figuring it out and adapting can lead to a significant boost in your bottom line.
After interviewing more than 100 B2B sales organizations that implemented digital tools and better allocated sales to meet the demands of more Internet-savvy consumers, McKinsey Institute had this to say:
“While the change required is significant, so are the benefits: an up to 20 percent increase in customer leads, 10 percent growth in first-time customers, and a speedup of as much as 20 percent in the time that elapses between qualifying a lead and closing a deal.”
Here are 4 ways you need to adapt with an approach that integrates technology without losing the human factor.
1. Realize your prospect already knows about you.
When approaching a prospect, you’re not starting at ground zero.
Research shows that, because of the wealth of content available on the internet, the average B2B buyer is quite informed, already having completed anywhere from 60 to 90 percent of the buying journey by the time they contact you.
2. Your prospect already knows about your competitors.
With all that research, don’t think the prospect is content with your options. It’s a shopper’s market.
It’s a shopper’s market. If you’re not looking at how you’re stacking up against the competition in providing answers to prospects questions through content and collateral, you could lose out.
3. You prospect still wants you to engage.
Maybe it’s not a matter of picking up the phone that will get you connected with your targeted audience.
Think social. According to the McKinsey study, B2B consumers also are checking reviews and consumer opinions online about your business. Keeping your current customers engaged and following you online can provide another path of influence in the buyer’s journey. It’s an endorsement of sorts.
Boost that presence with blogging, speaking and writing as an expert in your industry. Earn trust through social outlets.
4. You need to understand where your prospect is in the cycle.
Meeting your prospects where they are in the discovery process requires checking inbound marketing data.
That means that, more than likely, you will need to approach each one with a customized approach. Having those answers readily available is key to delivering that experience — and making the sale.
Finding the right sales enablement tools to provide those answers can be key to keeping prospects engaged.
Today’s B2B prospect is constantly evolving. The company that adapts to keep up with their needs wins.
FatStax provides the customization you need to accelerate your sales. Contact us to find out how it can deliver results for your team.