In most SaaS, FinTech, and IaaS startups, B2B sales strategy needs to evolve, to catch up with changing buyer preferences.
In this video, you’ll learn why B2B sales strategy needs to modernize, how SaaS, FinTech, and IaaS startups can catch up with rapidly changing buyer preferences, and what effective B2B sales strategy looks like.
The way that people research and make purchase decisions has changed quite dramatically in recent years.
Some founders, CEOs, and sales leaders at tech startups understand this new marketplace reality -- and have evolved their go-to-market strategy and playbooks. On the other hand, many insist that their ideal customers still make major purchase decisions the same way they did 10 or 20 years ago.
Gartner found that 83% of a typical B2B purchase decision -- researching, comparing options, and evaluating pricing -- now happens before a potential buyer engages with a vendor.
McKinsey & Company has discovered that 70% to 80% of B2B decision-makers now prefer to make decisions digitally.
And in its B2B Thought Leadership Impact Report, LinkedIn, in partnership with Edelman, concluded that “thought leadership remains critical to customer engagement but breaking through the noise is harder than ever.”
As buyer preferences change, strongly favoring a digital buyer's journey, B2B sales strategy and sales professionals -- including sales development reps, account executives, and sales managers -- also need to adapt.
The bigger problem, especially in smaller companies, is building a modern sales team that can effectively and appropriately engage with leads throughout various content campaigns.
Adapting to these changing buyer preferences often requires a mindset shift for sales professionals to be repositioned as consultants and subject matter experts.
Otherwise, the tone-deaf sales professional who refuses to contextualize their approach based on buyer personas and the buyer's journey stage completely repulses prospects.
Suppose your company offers a product or service with a considered B2B sales process, or more aptly now, a considered buyer's journey. In that case, most of your core buyer personas want to engage with your company, similar to how they engage with best-in-class consumer brands (B2C).
Think about how your own preferences have changed in recent months and years.
- When you order from Amazon, how often do you fill out a form to meet with a salesperson to find out what something costs or what features or specs are included?
- When ordering from DoorDash or Instacart, how often do you wait on hold listening to elevator music for the next available representative?
- When booking a ride to the airport using Lyft or Uber, how long do you wait to get a price quote? Or confirmation that a driver can get you to the airport on time?
How has your B2B sales strategy evolved to keep up with changing buyer preferences? Let me know in the comments section down below.
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