Your sales pipeline is fundamental to create a sustained business. For B2B sales business newbies, it can take some time to get revenue-driving projects moving forward. A sales pipeline applies the right strategies and tactics to grab a lead, and get them to buy! In business terminology, it's called a “sales funnel”. It is a step-by-step process that focuses on the actions of a lead.
According to a trusted essay writing firm, every sales funnel has five distinct stages:
- Awareness: The first stage is when a prospect knows about your business
- Opinion: At this stage, the lead forms the first impression about your business.
- Consideration: It is the stage when a lead gives a thought about buying your offering.
- Preference: A crucial stage in the sales funnel when a lead compares your offering to substitutes.
- Purchase: The final stage of the sales process when the lead makes a purchase.
Each stage comes with its own customer needs. To help you fill and guide prospects in your funnel, we have created some useful tips:
Learn About Your Target Audience
When you run a B2B business, things get a little challenging. To alleviate some sales processes, you need to make preparations to create the right impression. This is only conceivable when you know your potential clients front and back.
What you can do is make a profile of your leads and understand their preferences. For example, if you are in a construction business, you should learn about the rates your clients expect for a specific size of the project. Similarly, you need to learn about their understanding of the construction business as well as other businesses they approach for their projects.
Knowing about your target audience's priorities will help to craft a better sales pitch.
Utilize The Selling Potential Of Social Media
Social media is a big world full of future clients. Since a big chunk of businesses are available on social media, it provides a broad reach for providers to showcase products or services. In addition, there are plenty of social media selling tools that can facilitate your social media publishing. These tools will help you to attract leads and increase conversions.
According to Statista, one-third of American internet users use social media to connect with a business. The different users have individual reasons to connect with businesses. The reasons could be plenty, ranging from getting discounts and knowing about a new service, to communicating with the sales team and supporting their preferred brands.
The huge social media audience offers you higher chances of getting your potential leads. Consider the buying journey of your customer in order to set the right strategies for the different stages of the sales process:
You need to share information with your leads to find you on social media. This will include URLs of your social media profiles, your website address, and your email.
Find out the ways your target audience uses social search tools to compare products or services.
You need to set strategies to increase conversions through social media. At this stage, you will be using the tactics to hook your leads to buy your offering.
Come up with tactics to respond to your leads on major social media websites. This involves answering their queries, replying to their messages, and acknowledging their engagement with your posts.
Explore the ways to increase downstream engagement of the users on social media platforms. Encourage your followers on social media to promote your business through word-of-mouth publicity.
Apply Predictive Lead Scoring
Predictive lead scoring evaluates leads in terms of the value he offers to a business. This scientific method measures the history of a client and builds a profile around their engagement and/or company.
This information is crucial in calculating the potential benefits of working with a client. A predictive lead scoring can contribute greatly to making you more conscious of what stage your leads are in.
You can get two types of data for lead scoring:
Explicit data includes information that a client shares directly with you, such as:
- Job title
- Nature of business
- contact details
Implicit data entails the information that you get from the behavior of your lead when they interact with you through online platforms.
- Bounce rates
- Number of clicks on certain sections of your website
- Click through rates (CTRs) in email marketing
- Newsletter subscriptions
- Content downloads
- Form submissions
Both types of data can help you get insights into the buying journey of your customer which in turn help you effectively sell your services to your clients.
Integrate Marketing Automation With Your Sales Process
Marketing and sales are two closely-connected parts of a business. From lead nurturing to lead conversion, the marketing automation process can synchronize with your entire sales efforts. This will enable you to see the different stages of your sales funnel through the data extracted from marketing automation.
What you can do is integrate your marketing automation process to customer relationship management (CRM) tool. In this way, you will be able to provide your sales team with crucial information regarding the behavior and buying pattern of your leads. Likewise, it is equally important to let your marketing and sales team work in tandem with each other as a team and collaborate on projects by sharing relevant information.
The aforementioned are some ways you can improve your sales funnel and speed up the sales pipeline process. Hope they will help you increase your lead conversions.
Anna Marsh is a Business Consultant, Educator, and a Blogger. A fantastic chess player and an inspiring public speaker, she can make you understand the ins and outs of business management. To know more about her, you can contact her on Facebook, Twitter, and Google+.