There is no single workflow that guarantees 100% perfect results for building a B2B sales funnel; however, there are some simple rules that can help you avoid simple mistakes on the road to setting up the right Funnel for your business.
Build a strong pipeline to help enhance the sales process
Identify the potential channels of sales from where the lead generates. Here are few ways which helps industrial sales to generate the lead.
Any sales team should have an established sales process. To create it, you need to arrange your team’s actions in three dimensions:
The stages of the sales funnel will give you a benchmark for each dimension. You can get a real-time visualization of the sales process by creating a B2B sales funnel. It should contain all the necessary data about the leads, opportunities, and customers you are currently working with.
A sales funnel is a powerful tool for tracking and analyzing your sales force’s activities and forecasting their earnings.
They will also have clear answers to tactical questions such as:
If you don’t have a clear and structured pipeline, you won’t be able to answer above questions.
Improve your team’s sales specialization
Once you’ve created a sales funnel, you’ll find that the tasks at the top of the funnel are highly individual and require a different skill set than the tasks at the bottom. An experienced sales manager must understand that one person cannot perform all of these tasks equally effectively. In B2B sales, you need to create different positions in your team, hire the right people, and equip them with robust sales processes and skills.
Ensure relevant communication with the prospect at each stage
When a prospect enters the buying journey, they seek and receive information that facilitates their buying decision as they move on to the next stage. To do this, you have three main sources.
At every stage of the buying process, the buyer must receive relevant information. A well-thought-out B2B sales process provides guidance on what information to provide the prospect at this stage to make it easier for the buyer to make it through the funnel.
Calculate the conversion rates constantly to build a better B2B sales funnel
To provide only up-to-date information about your business, to help potential buyers choose you over other suppliers, you must continually work to strengthen the weaknesses of your business. Analyzing your B2B sales funnel can provide valuable answers. At each stage of the purchase funnel, you can calculate the conversion rate between those stages. This will allow you to see what your team has done well (and analyze what has worked with it) and will help you identify the tough spots you need to uncover.
Find a balance between being persuasive and professional
Despite the need for a structure provided by a sales funnel, there is another important aspect that sales teams often overlook: finding the right balance between process adherence and identity. To some extent, the sales process must be flexible and adaptable to the needs of each customer. This is very important in the era of micro-targeting and personalization. There is no point in developing a specific customer image, researching the perfect match, taking a personalized approach, and then perfecting it all. Offer them products that don’t fit their buying logic. There are several ways to solve this problem:
Organize the sales funnel at every stage
To build your B2B sales funnel, create a spreadsheet that sorts and includes the following aspects:
Have a look at B2B Sales Funnel Model
B2B sales funnel is where these three processes (Buying, Selling & Marketing) intersect and engage with each other. It’s up to a particular organization how exactly to arrange this intersection. Obviously, the buying process is not in your full control; you can’t just force someone to purchase your product. However, you can influence it through a manageable selling process and efficient marketing strategies.
Lead generation is a complex process that is comprised of two stages:
Author:
Mamta Balwani, an MBA graduate is associated with J.Hirani as a Consultant. Extrovert by nature, she is always open for new challenges. Her conscientious and straight forward attitude has helped her in achieving every project she takes in her hand. She has worked with industries such as Forex, Energy & Power, Apparels, Education, and COVIID – 19 safety products.
About J.hirani: J.hirani is a Strategic Transformation team which works as a growth partner for different organisations in various industries by providing services like Agile transformation, Scenario mapping, Strategic alignment, Balance scorecard, Digital transformation, Incubating new ventures, Operation excellence and Aligning human capital.
©J.hirani, Strategies to Create Sales Funnel, September 2021. All rights reserved
