Modern Selling in 2015: Nurturing Leads in the Digital Era

MODERN SELLING IN 2015 NURTURING LEADS IN THE DIGITAL ERA With new technological advancements occurring everyday, communication between companies and customers is easier than ever before. Yet despite streamlining the infrastructure of communication, the sales cycle is longer than ever. Why is this, and what can be done to cater to an increasingly weary customer? THE LENGTHENING SALES CYCLE AVERAGE LENGTH OF SALES CYCLE This is an increase of 2012 6.4 Months 24% 2014 8.1 Months in only 2 years! Months 0 4 8 10 90% 43% of businesses report a sales cycle that is longer than 1 month! of B2B companies say their sales cycle has increased in the past year. WHY IS THE CYCLE LENGTHENING? BUSINESSES ARE WEARY IN A WEAK RECOVERY Decision makers are remaining conservative in their purchases because they are still stunned from the economic downturn of the last decade. A PLETHORA OF OPTIONS IN A MARKET WITH LIMITLESS TRANSPARENCY The Internet has made everything searchable, comparable, and reviewable. There are countless opinions to listen to; whose voice is the strongest? TESTING OPPORTUNITIES ARE GROWING IN FREQUENCY WHITEPAPER Whitepapers are no longer cutting it. A company can talk about their results, but it is more effective to show how your product or service can impact a potential client, specifically. TOO MANY COOKS IN THE KITCHEN There are more people giving input in the decision making process. 43% more stakeholders are engaged in each decision, compared to 3 years ago. 10+ Average number of decision makers in deals greater than $500,000 dollars. THE BUYER IS NOT PROVIDED ENOUGH INFORMATION OR SUPPORT TO ADEQUATELY MAKE A DECISION 40% of delays in decisions are due to businesses not providing accurate decision support information in a timely manner. ORGANIZE THE FUNNEL. SHORTEN YOUR CYCLE. Companies need to change with the times, optimizing their lead funnels to provide the right information to potential customers, from whatever channel they enter. ANALYZE AND UNDERSTAND PURCHASING BEHAVIOR 60% 21% 40% of mobile research is done while in store of consumers research a product online before purchasing of consumers research products via mobile phone DEVELOP A PLAN THAT MARKETS EFFECTIVELY TO EACH TOUCH POINT SALE CHECK THIS OUT! Online Research In-Store Word of Mouth Social Networks Advertisements With so many channels, a customer comes into contact with a brand on average 56 times between inspiration and purchase. With that many touch points, it is imperative to leverage your message effectively between: %24 PAID CHANNELS Purchased Advertisements OWNED CHANNELS Brand Controlled EARNED CHANNELS Customer-Created and Controlled SHOW YOUR VALUE TO THE CUSTOMER BE A PRIORITY If you seem inessential, the customer will think that. 60% of leads are "stalled deals" because the product wasn't portrayed as a priority. TAILOR THE MESSAGE TO EACH STAKEHOLDER Each decision maker needs to know what you will provide for his or her department. Specific messaging brings forth specific answers. SHOW THE ROI 95% of decisions require a business case. Provide it upfront and impress the CFO. NURTURING YOUR OPPORTUNITIES Because there are longer sales cycles, leads need to be nurtured and a relationship needs to be built. Reducing the sales cycle by 1 month can increase sales revenue by 8%! Are you taking the necessary steps toward closing the gap between the pitch and the sale? Sources: http://blog.alinean.com/2014/06/siriusdecisions-research-longer-sales.html http://www.prnewswire.com/news-releases/survey-shows-b2b-sales-cycle-lengthening-increasing-challenges-for-online-marketers-201993001.html http://customerthink.com/b2b_sales_cycle_getting_longer_study_says/ http://www.inboundify.com/the-5-keys-to-modern-b2b-lead-generation-5/ http://www.mckinsey.com/client_service/marketing_and_sales/latest_thinking/get_in_touch _with_customer_touch_points https://www.cisco.com/web/about/ac79/docs/pov/FutureofRetailTouchpoints_FINAL.pdf Contactually Brought to you by facebook.com/contactually @Contactually in linkedin.com/company/contactually E 20