B2B sales have evolved into a science, it's data-driven, enabled by digital tools, underpinned by advanced analytics, and focused on understanding the “what, why, and when” of the customer. According to A.T. Kearney’s, 'Future of B2B Sales study', leaders in the B2B sales revolution achieve twice the revenue growth, and 2.3 times the sales productivity growth of its peers. Meanwhile, 53% of B2B companies are lagging in both revenue and sales productivity growth.
“Nothing is more important than customer success, and sales is the entry point to learning how to make the customer successful”. Marc Benioff Chairman and CEO of Salesforce. In this post we will discuss how to achieve successful & revolutionary results in B2B Inbound Sales.
Table of Contents
- Introduction
- Sales Evolved
- Science of B2B Sales
- Flexible
- AI-Assisted
- Long Term View
- Talent Gap
- Continuous Improvement
Introduction
With my extensive experience in the B2B sales industry, I am constaNTly seeking out innovative tools and strategies to enhance my abilities and drive better outcomes for businesses. This unwavering pursuit of improvement is what inspired me to establish MapleSage - a B2B platform dedicated to providing a smarter and more effective approach to business growth.
With the rapidly advancements in technology, particularly in the fields of AI, analytics, and machine learning, the landscape of B2B sales has undergone a profoundd transformation. Sales leaders now have unprecedented access to vast amounts of analytical data and computational power, enabling them to pinpoint top sales opportunities with precision, empowering their sales efforts. Remarkably, organizations utilizing integrated platforms such as SalesForce and HubSpot have achieved double-digit growth, all while operating with the same or even smaller sales teams and at a reduced cost per lead (CPL). This new era of B2B Inbound Sales is driven by a relentless pursuit of success and revolutionary outcomes.
Thanks to the rise of tech-savvy, content-driven millennial customers who prefer digital channels, sales teams have been compelled to develop or hire experts with strategic thinking and technical expertise, leading to an increase in inside sales and analytics teams.
The rise of on-demand and subscription-based business offerings has turned sales into a never-ending party that needs to be thrown every month, every quarter, and every year. Putting the customer at the heart of all sales and marketing activities is crucial for long-term business success.
B2B Sales has evolved
Gone are the days of mindlessly dialing hundreds of prospects or bombarding every name on your mailing list, hoping that something will stick. The traditional SPIN SELLING technique I learned in my early sales career, while still valuable in its principles, needs updating to keep up with the evolving buying journey. B2B leaders now focus on researching their buyers' personas, uncovering untapped opportunities and pain points that buyers haven't even realized yet, and crafting personalized messages delivered at the perfect moment.
Science of B2B sales
In this rapidly evolving world of technology, B2B sales has transformed into a scientific masterpiece. It's all about data, digital tools, advanced analytics, and truly understanding the "what, why, and when" of our customers.
As a trailblazer and early adopter myself, I've come to realize that our customers are the ultimate marketing channel. To succeed in today's on-demand world, we need to revolutionize our go-to-market strategy. It's not just about what we're selling, but how we're selling it. We must completely reimagine how we market, sell, and serve our customers. It's time to shift from the traditional sales funnel to a dynamic FlyWheel, with the customer at the very heart of it all. They should never be an afterthought, but rather the driving force behind our success.
Flexible Approach
To really hit the bullseye with your B2B sales strategy, you've gotta be able to meet your customers where they are, how they like, and when they like. According to a McKinsey & Company study, B2B buyers who engage through digital channels prefer to complete the purchase cycle on their own in a whopping 85% of cases for repeat orders and 48% of cases for new or different product specifications. Only a measly 24% of B2B buyers actually find it helpful to chat with a salesperson when they're researching a new product or service. So, digital tools are your secret weapon for gaining customer insights and engaging them based on their unique buyer's journey, whether they're first-timers or repeat customers. It's no longer just a matter of choice - it's an absolute must for success that your communication journey flows seamlessly from one channel to another, keeping that valuable conversation history and context intact.
AI & ML assisted Sales
Leading companies are getting their digital groove on by using fancy tools, advanced analytics, and machine learning to pick out the best opportunities, allocate resources, and prioritize behaviors to boost sales productivity. They even have inside sales wizards to keep their customers happy, speed up the sales process, and get them to open up their wallets a little wider.
Hands-on Long-Term View
Sales leaders and CEOs should adopt a long-term perspective when it comes to their sales plan and actively paparticipate in the transformation process, rather than relying solely on sales managers or heads.
Talent Gap Fulfilment and Training
This is where successful companies really shine. They don't just hire the perfect candidate for a position, they go above and beyond by investing significant time and resources into training, motivating, and nurturing high-performing individuals who thrive on independence and entrepreneurship. They offer immersive programs that provide on-the-job learning opportunities with the guidance of experienced coaches. It's all about creating an environment that fosters growth and success.
Speed, Agility & Continuous Improvement
In a world where change is the only constant, the customer becomes your guiding star. To achieve success, you must carefully choose your approach, whether it involves embracing an agile test-fail-learn-adapt model to increase agility or using war-room methodologies to launch your digital campaigns and messages.
The new competitive advantage lies in your ability to adapt to your customers. To become a market leader in B2B Sales, you must have an unwavering focus from the company's CEO and management team, along with the necessary resources.
