Accelerating B2B Sales Cycles with Data
The B2B sales and marketing landscape is evolving with the influx of acquiring data at the fingertips of B2B businesses. The data obtained should be in line with the strategies for sales cycle acceleration to accurately target potential customers. Infotanks Media provides data that can help you to nurture leads into happy customers. Any company’s B2B professionals from the sales and marketing departments have a straightforward ultimate goal: to grow with high-quality leads. Every business growth strategy requires strategic planning of keeping the right processes in place to increase revenue generation. You need to shorten your sales cycle and ensure the customer acquisition cost is optimized for maximized returns on investments.
These days, most companies depend on their sales representatives to research and find contact data to reach out to leads. Their efforts are spent on sourcing hard-to-find data attributes instead of connecting with prospects to build business relationships. The availability of data can be looked at as both an opportunity and a risk. With the abundance of bad data, the overall efficiency of marketing for sale lead generation is affected. Ensuring accurate data to identify the most influential decision-makers earlier in the sale cycle is essential to increase sales. Marketing for sale is highly dependent on high-quality contact data for effective personalization and segmentation of prospects. B2B in marketing requires you to channel sale cycles through a data-driven approach for maximizing the leads for sale. Let’s find out how data can affect your company B2B sales outreach.
Can quality data replace cold calls for B2B sales?
Traditionally, sales representatives rely entirely on cold calling without any relevant data or a target audience. Information such as when to contact and how to reach is missing. The persona is undefined; cold calling for B2B in marketing strategies doesn’t necessarily generate leads unless relevant data back it. As per the State of Sales Acceleration Report, buyers receive as many as 32 calls per week and are in no rush to answer them. Unanswered calls are the result of incomplete data. Inaccurate information such as lack of basic knowledge and wrong timing leads to irritation and frustration among prospects. The report also states that sales representatives, on average, spend more than 2 hours (128 minutes) just compiling information before contacting prospects. It is a primary source of delay in the sale cycle of B2B businesses. Around 24% of sales representatives admitted that they did not have enough time or resources to research. In comparison, 35% agreed to the undemanding pressure of acquiring valuable information for lead generation, as concluded in the State of Sales Acceleration Report. So, how can company B2B strategies for sales be optimized? Ensuring accurate contact data and creating a buyer persona can help you acquire leads through not just cold calling but through multiple platforms.
How can company B2B marketing strategies be optimized for accelerating the journey of converting prospects to paid customers?
Ensuring quick turnaround time to convert leads for sale revenue generation should be driven by data and insights. Accurate data guides the marketing team in identifying the most relevant leads for sale teams to connect and convert. To understand the “Sales Acceleration” phenomenon, let’s consider the following aspects:
The adversities of mismanaged, incomplete data, or wrong data can affect your sale cycle’s efficiency—channel sale strategies with accurate data to acquire insights for introducing business intelligence. Make informed decisions to grow your business among your target customer audience. Acquire real-time data updates to ensure the highest credibility while reaching out to prospects. Infotanks Media can help you collect, structure, organize and maintain data for easy integration into your CRM in sales and marketing departments. A data-driven marketing strategy helps channel sale acquisitions by structuring first-party data with third-party data to build a solid foundation of prospect and customer data.
Analyzing, collecting, and applying insights from customer activities across different channels can build your buyer persona. Creating a buyer persona helps understand your target customers’ preferences, requirements, behaviors, and more specific details. Email marketing using CRM in sales can increase engagement through customized and personalized campaigns and strategies. Developing relevant content for prospects of B2B businesses builds brand credibility and a positive identity. It enhances the customer experience and drives greater loyalty with a longer customer lifetime value. It attracts high intent potential customers for quicker conversions. Streamline your business opportunities and expand your sales outreach with automation and planned triggers using a CRM in sales strategies.
CRM in sales provides critical information and insights about your customers and their experiences. To streamline your sales pipeline, it’s essential to optimize your business operations. Make your sales outreach more relevant and personalized to automate emails and sales communications based on their availability. Use the customer data such as age, title, company size, industry, and more such demographics for personalized communications. Create triggers and notifications to understand customer behavior. Target them when they indicate a high propensity to purchase. Encourage impulsive buying through flash sales, limited period offers, and other discount schemes. Keeping your potential customers engaged is the quickest way to convert them to paying customers.
Data for B2B Sales cycle
B2B sales meaning businesses who primarily sell their products or services to other companies instead of directly selling to consumers. Business to business sales or B2B sales usually has higher order values, longer sales cycles, and a more complex business model than B2C or business to customer sales. B2B sales strategies, meaning to acquire high intent customers, require accurate data and insights to make informed decisions. A business-backed by accurate data, specific analytics, and operationalized data can achieve more sales with a quick turnaround time. A buyer’s journey can be long and winding, but data can help shorten the path for sooner conversions. Align your business revenue generation targets with your sales outreach using data-driven marketing for sale cycle optimization.
Here are five things your company can do to leverage data for a faster sale cycle:
Prioritize data quality
Identify high intent potential customers at the account level through a well-planned sales and marketing strategy. Define your total addressable market (TAM) to know your ideal customer profile (ICP). Sourcing the right data can help you scale up this process. At Infotanks Media, the data delivered is processed through stringent compliance combining artificial intelligence (AI) tools, software, and applications to ensure data validation and manual verification for a guaranteed 95% contact accuracy. Prioritizing data quality ensures maximized conversions and generates higher revenue and profitability for your business. Align your marketing and sales strategy with your business growth strategy for a regular stream of leads and revenue generation.
Regularize data cleansing
Bad data affects the efficiency of your sales and marketing strategies. The D&B’s Sales Acceleration Report confirms that 56% of marketers find it challenging to ensure that they work with relevant and complete data. With the evolving marketplace across all industries, regularly updating your contact database becomes significantly more important. Data cleansing with Infotanks Media guarantees 95% email deliverability and accuracy. We ensure real-time updates of your contact data and fill up the gaps of any missing information. Reach out to prospects through emails, direct mails, telemarketing, social media marketing, and other multi-channel marketing opportunities with absolutely cleansed data. Improve your sales conversion turnaround time with efficient data.
Update sales processes
The current marketplace is highly competitive and requires you to scale your business more quickly to stay ahead of the competition. From a marketing and sales perspective, this means having the ability to reach out to thousands of companies in a short period. It also requires you to reach out to your target market and prospects before your competitors. With personalized marketing, you can share relevant content to keep your prospects engaged. A data-driven sales process ensures you gain a competitive advantage and enhance your customer experience. It helps you build brand loyalty and credibility—upscale your sales outreach with highly accurate data for maximized deliverability.
Identify trigger events
Use your website analytics and data for retargeting recent website visitors, blog readers, and those who engage with your brand through different social media and other marketing platforms. Using CRM in sales campaigns can help you automate communication-based on the various events that can trigger your prospects to convert into customers. Identify companies that are expanding their team or have job openings to understand their technical requirements. Reach out to them with your relevant products or services to effectively solve their needs. Build a strong foundation for rapid growth with trigger events spread across the sales journey. Design your sales funnel based on your target audience and their requirements.
Personalize business communication
The B2B landscape is crowded with opportunities and opportunists. Reaching out to your potential customers with a personalized communication can build a strong business relationship. It can attract more valuable customers to your business. Use relevant data such as age, company type, job titles, and more from 15+ data fields to filter out your target audience and grow your business. Personalized email campaigns can attract and engage your target audience with subject lines, exclusive offers, and more. You can even segment your potential customers and existing customers based on their preferences, behavior, and engagement with your brand campaigns. CRM in sales campaigns can help you personalize your business communication at different stages of your purchase cycle. Create your sales funnel based on your customer purchase journey to increase your conversion rates.
Accelerating B2B sales cycles requires a data-driven strategy for both sales and marketing campaigns. Using high-quality data to develop processes for growing at a large scale will ensure profitability and revenue growth. Infotanks Media can provide highly accurate contact data of decision-makers, professionals, influencers, and more with 15+ data fields. Customize with company name, company size, geographic location, industry, and more based on your requirements. Write to us at [email protected] to get a free consultation today!