It is crucial to recognize that everything in a B2B business is built around your sales funnel.
Not only can having a well-structured sales funnel in your B2B demand generation agency, but it will also help increase sales and b2b demand generation,, but it will also help improve and optimize the sales process itself; in addition, you will be able to better understand your customers’ buying journey (the route from first contact to purchase).
Basics of B2B Marketing Funnel
Since its inception in the nineteenth century, the sales funnel has experienced a number of transformations.
It can have three or more stages, depending on who you are trying to reach, and each level differs depending on the sort of business. While there is no universally applicable model for all firms, every sale funnel functions in the same way on a fundamental level.
Fundamentally, the sales funnel is the most effective tool for assisting businesses in visualizing and understanding, precisely, the processes that must be taken in order to convert a lead into a possible customer.
The layout of your sales funnel can assist you in identifying the main stages at which you are losing consumers; with this information, you can develop methods that will allow you to advance your prospects to the next stage of the funnel and continue the sales process. You will be able to create a more efficient sales process as a result of this.
B2B Marketing Funnel Techniques
Invest in accurate audience/potential customer segmentation
When it comes to accurately segmenting leads at a certain funnel step, you must first segment them based on their interaction and the subsequent intent data. Marketing or sales enablement professionals, for example, who have access to a lead email database with 500 entries, must determine the current state of each lead.
To summarize, you can conduct a variety of analysis, such as counting the number of email interactions (such as opening an email, clicking on a link, and so on), website interactions, and social media interactions, among other metrics.
It is the simplest type of audience segmentation to implement because most email marketing platforms, such as MailChimp or Hubspot, include this information as part of their standard licenses for email marketing campaigns.
Identity resolution solutions and/or pixelation of the website or use of a company-owned portal login will be required in order to track engagement at the website level so that it may be assigned to specific prospects.
Map customer journeys for an optimised funnel experience
The customer journey and experience mapping process does not begin and end with a purchase; a consumer’s brand experience begins long before they become a paying customer.
It is the goal of customer journey mapping to anticipate the touch points of customer engagement and arrange for an optimal experience for them. Product/service demonstrations, purchase, product/service usage experience, and post-sales experience are all examples of what is included in this category.
A proactive approach to customer experience planning, as opposed to a reactive approach to mapping out brand journeys for buyers, would prevent companies from being caught off guard and providing a sub-optimal experience to customers.
When opposed to B2C organizations, B2B companies have a smaller pool of prospects. By investing in customer experience planning, B2B companies can significantly improve the effectiveness of their sales funnel.
Move towards centralisation and data management
Data centralisation is a technology-based process that involves consolidating all of your customer and prospect data into a single database from which various marketing and sales activities (including automation) may be triggered and tracked.
This is effective against siloed client data (such as that found in unsynchronized software platforms) and redundant copies of consumer data. When it comes to data centralisation, most organizations employ a customer relationship management (CRM) tool; however, data management platforms (DMPs) are a far more advanced investment that is often advised for very large B2B companies.
Augmented reality and videos for B2B product demonstrations
When it comes to persuading potential buyers during the assessment stage of the B2B sales conversion funnel, product experience/demonstrations have long been acknowledged as a primary marketing/sales conversion method. During this time, the company obtains undivided client attention exclusively for the purpose of providing an exceptional customer service experience that gives them a competitive advantage and, finally (and hopefully), seeing the lead convert into a paying customer.
Demand for augmented and virtual reality is booming as Covid blockchains drive enterprises and sales processes both in-house and online. While in-person buying experiences are restricted or non-existent for some businesses, B2B customers still require the appropriate knowledge, experience, and demonstration before making a final purchase decision. To accomplish this, businesses must invest in the creation of clear and crisp videos that can serve as a substitute for the in-person experience to some extent.
- 1 Basics of B2B Marketing Funnel
- 2 B2B Marketing Funnel Techniques