What is the Sales Funnel for B2B?
An effective sales funnel helps you visualize the sales process from start to finish. Think of a sales funnel as a metaphor for the buyer’s journey while working with your company. The funnel starts with the widest selection of prospects, and narrows down the pool as buyers solidify their needs and evaluate whether or not your product provides the solutions they are looking for.
While sales funnels generally follow a similar structure, businesses often tailor their funnel to reflect their unique processes. A sales funnel for business-to-business sales needs to take into consideration the target buyer persona, marking strategies, and closing techniques.
Still wondering how to craft a sales funnel that works for your B2B sales? We’ve compiled a list of the most common sales funnel elements, and how to use the sales funnel model to enhance your business.
The Five Elements of a Sales Funnel for B2B
While there are many models to choose from when it comes to outlining your sales funnel, we’ve chosen to outline five basic sales funnel stages that encapsulate the average buyer’s journey.
#1 Awareness
The first stage of the funnel entails spreading brand awareness and marketing your product to a large audience. Essentially, you’re trying to create as much interest in your product as possible. Remember, not everyone will choose your product, so it’s best to start with as big a pool as possible. Actionable strategies at this stage include email marketing and social media campaigns, which utilize your buyer persona to create targeted messaging.
#2 Interest
Once your target prospect is aware of your product, you want them to engage further with your brand. Increasing a prospect’s interest in your product is the combination of effective marketing strategies and compelling informational material. It should be easy to research your product, and to see the special qualities that set your brand apart from the competition. This is where specific details about your business’s unique solutions will compel a prospect to find out more about your mission.
#3 Evaluation
Now that your prospect is interested in your product and has begun their research, it’s important to demonstrate how your product can address their specific needs. Demonstrate to your prospect that you’re there to help their business succeed and offer solutions that work for them. Be careful not to seem like you’re focused on “selling,” and instead focus on providing solutions that address their pain points.
#4 Engagement
This stage of the sales funnel is all about building trust and nurturing relationships with prospective buyers. Continued engagement with helpful and knowledgeable sales reps reassures prospects that they are in good hands, and prioritizes the customer experience above closing the deal. Buyer relationships are built over time, and should not be rushed to fit your timeline. Instead, focus on what the customer needs and demonstrate to them how your product fits into their business plan.
#5 Purchase
The final stage of the sales funnel occurs when the prospect closes the deal with your company. While securing a sale might seem like the end of the road, it’s important to remember to nurture relationships with your buyers even after they’ve made a purchase. Follow-up with them to make sure they’re satisfied and keep the communication flowing over time. Remember, it’s much harder to generate and secure a new lead than it is to maintain continued loyalty from existing customers.
Tips for Making an Effective Sales Funnel for B2B
Focus on Fulfilling the Customers’ Needs
Creating a lasting business relationship is all about trust. To this end, it’s important that customers feel like your sales team is working in their best interest. In today’s sales climate more customers are looking for products that add genuine value to their lives. Remember that you’re there to help your prospects find lasting solutions.
Think Outside the Box
Don’t rely on humdrum email campaigns or social media marketing. Create content that engages prospects and surprises them. Marketing doesn’t need to be flashy to be effective. Use attention grabbing email subject lines, or post interactive content on social media.
Don’t be Afraid of the Follow-Up
Even if an initial meeting doesn’t go as planned, it’s always important to follow up with your prospects. After all, it often takes the average rep four or five follow-up phone calls before they get a response. Make your follow-up strategies just as creative as your marketing techniques.
Consult with a Professional Sales Development Team
Sometimes, there’s nothing more effective than an expert opinion. At Acquirent, we specialize in developing your sales and marketing strategies to enhance your business and increase your profitability. We use cutting-edge sales enablement technology and provide reps with the resources they need to guide your prospects through every stage of the sales funnel process.
Contact the team at Acquirent today to take your sales strategy to the next level.