Revolutionize Your B2B Sales Strategy: Data-Driven Marketing Techniques to Accelerate Your Sales Cycle
The traditional B2B sales cycle is drawn out, making it difficult to close deals quickly. This can cause growth to stagnate or even stop completely. To move away from traditional B2B sales cycles, it’s important to help sales and marketing work cohesively to nurture leads throughout the customer journey and implement a data-driven sales process.
A typical B2B sales cycle can be notoriously long, and in an uncertain economy, it can be an even greater challenge for companies to close deals quickly. To combat this, B2B business leaders continuously look for ways to accelerate sales cycles by engaging prospects along the customer journey with the relevant messaging at the exact right time. In this article, we’ll explore some effective marketing strategies that can help B2B C-suite members break their companies out of traditional B2B sales cycles and close deals faster.
The Consequences of Slow B2B Sales Cycle Stages
In the world of B2B sales, long and drawn-out sales cycles can significantly impact a company’s growth potential. As sales take longer to close, investment decisions become more complex, and scaling the business becomes a daunting task. Thus, B2B business leaders are increasingly focusing on leveraging effective communication strategies in order to build stronger relationships with their prospects, gain their trust, and ultimately close deals much faster.
In the current highly competitive landscape, the ability to accelerate sales cycles and break out of traditional cycles can make all the difference in a company’s success.
Think Outside of the Sales Team to Nurture Leads
Companies commonly rely on their sales teams to both prospect and convert potential clients. In an ideal situation, sales and marketing work cohesively to not only bring in leads to the funnel, but also nurture and educate leads throughout the funnel. By syncing customer relationship management (known as CRM) software with account-based marketing strategies, companies can automate their marketing messaging and ensure that leads receive relevant messaging at the right time.
Use Marketing Automation to Follow the Customer Journey
Incorporating automation into a company’s marketing strategy is essential to ensure that prospects receive relevant messaging that aligns with their position along the customer journey, ultimately increasing the likelihood of closing deals. Prospects should receive engaging communications that further encourage decision-making. By using marketing automation platforms and creating targeted, curated content, organizations can ensure that potential customers understand their product or service and why now is the right time to act.
How to Shorten the B2B Sales Cycle
To break free from the constraints of traditional B2B sales cycles, business leaders must embrace a data-driven approach to the sales process. By leveraging insights from data analytics, companies can better understand their customers and prospects, enabling them to target potential decision makers more effectively and improve their organizations’ overall sales productivity. Here are a few effective strategies for achieving this:
- Implement a data-driven B2B sales process.
A data-driven sales process that spans both marketing and sales capabilities is the key to breaking out of traditional sales cycles. The first role of B2B marketing is to de-anonymize relevant interest by ensuring that the companies in the market can find the business. This requires both capturing and creating demand on relevant channels. It is also necessary to have both first-party and third-party intent data to show which companies are interested in which B2B tactics. This information can help target potential decision makers and reach them at the right time on their journey.
- Have an account-based marketing strategy.
Business leaders should have an account-based marketing strategy that follows along the customer journey, even when those leaders don’t have a specific account strategy to go to market. The use of LinkedIn ads and account-based display advertising can broaden a company’s visibility and ensure that interested companies see and understand the services being offered.
- Use a data-driven CRM solution.
Company leaders should consider utilizing a data-driven CRM solution that enables sales productivity. This should be the source of truth that captures both marketing engagement and sales activities. Sales teams need to see how prospects, leads, and contacts are engaging with marketing messages, including ads, social media, emails, and website content.
What Comes Next?
By nurturing and educating leads throughout the customer journey, implementing a data-driven B2B sales process and account-based marketing strategy, and using a data-driven CRM solution, businesses can increase their chances of closing more B2B sales and scaling their companies with greater speed. With these effective marketing strategies, company leaders can accelerate sales cycles and break out of traditional B2B sales cycles once and for all.
Written by Björn Sjut.
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