Time is money, right? New business opportunities are in abundance but there are only so many hours in the day to pursue them. Pressure to hit targets is always there. So, where do you focus your efforts to maximize results?
To supercharge your sales strategy in 2017, RelPro suggests a 3-pronged approach:
- Understand the trends impacting B2B purchasing and your market segment
- Know your customer – and we mean really know your customer
- Search out the best tools and tactics to improve productivity (hint: we can help with this one)
Customers are better informed, more pragmatic but take more time to buy
Customers are now much better informed at the start of the buying process. A recent article in PR Week suggests that between 57% and 67% of a purchase decision is already complete before a business ever makes an enquiry. More knowledge at the start helps customers achieve the products and services they want, usually on better terms.
The majority of B2B buyers take longer to make decisions than they did 12 months ago (source: Loudhouse Group). Why? Because buyers are more pragmatic and deliberate in their purchasing approach due to recent political and economic upheavals across the globe. This pragmatism most likely means that your customer’s purchasing process will take longer and be more complex as decisions and responsibility for them are diffused across the organization.
What should you do?
Most important – invest the time to research, map and align your process to each customer’s buying process. One thing you can be certain of – they will be unique and will vary widely from customer to customer. But, a good pay-off awaits. Companies with sales processes aligned to their customers, and that could be characterized as simple and clear, achieved conversion rates as high as 46%. Companies with non-aligned, complex sales processes converted only about 27% of leads, at best (source: MHI Global). As Ian Altman, an author and strategic advisor, wrote in an article on forbes.com, “If you are not completely aware of the steps your clients take, you’ll be metaphorically playing the game in a different stadium”.
Intelligence is the key
“Know your customer” is a phrase that gets thrown around a lot these days but it’s the credo that successful salespeople live by. In-depth, detailed intelligence about prospects and customers helps you focus your efforts for maximum results. What can it do for you? Here are a few of the advantages that we’ve seen our customers achieve:
- Quick, accurate identification of best-quality prospects at the top of the funnel
- Insight to compose well-targeted introductory emails, ask smart questions and respond appropriately during the first contact
- The right details on the customer’s company, to map the buying process and pinpoint purchase influencers, decision makers and advocates
- Up-to-date with company news, changes and contact information to help tailor on-going messages and know when it makes sense to make get back in touch, and with whom
These benefits combine to help our customers maximize opportunities, reach their sales goals and work smarter, not harder.
How do you get the best intelligence?
You already know that there is a lot of information out there available digitally through various sources. You could try to keep on top of this yourself, but then you’d probably spend most of your day researching, reading and making notes, not selling.
Several companies, like RelPro, aggregate business intelligence from a collection of sources, providing contact details, news articles and in-depth company information, easily integrated into your CRM system or available through a SaaS interface. Additionally, it’s possible to set up alerts so that you’re immediately notified when new information is available, keeping you instantly up-to-date and ready to spring into action at the right time with the right message.
But not all business intelligence providers are the same. We’re pleased to announce that RelPro has made G2 Crowd’s list of the top 10 sales intelligence software for midsize businesses. We think maybe our coverage, data quality & ease of use might have something to do with this …. and for firms providing technology products & services, RelPro’s innovative Tech Search capability helps our customers find key decision makers at companies by the technology they use. We track the tech stacks for over 1 million, from SME’s to the largest corporations, and help you connect to over 150 million decision-makers across all roles and functions. Check out our tech data coverage here.
If you haven’t already, we recommend that you trial a business intelligence provider, to see how it can supercharge your sales strategy for 2017 and help you meet the challenges posed by these new trends by working smarter. We hope you’ll give RelPro a try.
Relationship Capital Partners (founded in 2009) launched RelPro with a mission – to help businesses establish and develop executive-level relationships efficiently and systematically – by leveraging data aggregation and analytics. Like you, we know that business runs on relationships – and that success relies on the ability to establish, deepen, and defend these relationships over time.
RelPro is a trusted partner to leading global firms in financial services, technology, telecommunications and healthcare. We partner with premium providers of relationship data to deliver a unique combination of intelligence and expertise to our customers.
To learn more about RelPro, visit our website – relpro.com, give us a call – (888) 561 7890 or send us an email – firstname.lastname@example.org, or sign up for a demo. To learn what the market is saying about RelPro, read the reviews on G2 Crowd.