The B2B wholesale sales channel is an important sales channel for continued growth. If you’ve been selling B2B or considered selling B2B you know that the B2B sales cycle, the time it takes to close a sale, can take a long time. Sometimes too long. Let’s say you’ve got prospective B2B sales in your pipeline, but they need to close for you to make your sales targets by the end of the month. How do you accelerate the B2B pipeline?
In order to close the B2B pipeline sales faster, you need to speed up the sales process by doing a better job in lead scoring, knowing your target customers’ interests and pain points, and building a relationship through lead nurturing.
Here are the 6 key ways to accelerate closing B2B channel-based pipeline sales:
1. Lead Scoring: Spend Less Time Chasing Doubtful Deals
Evaluate leads as they come in. Scoring is based on researched viability (as well as sales team input), level of interest, need for your product or service, as well as the authority to make a decision and allocate the budget. Putting qualified leads that are actually expected to move through the process will also increase your forecasting accuracy. With only quality opportunities in the pipeline your sales reps will spend less time chasing doubtful deals and more time actually working on real deals.
2. Lead Nurturing: Keep Warm Prospects Interested
Most marketers send all leads directly to sales. This practice slows down the sales process because sales pipeline tracking is difficult when unqualified leads are entered into the mix. Create a separate list of those who don’t expect to purchase in the foreseeable future. These are the clients that should be seen as leads that need to be nurtured. This speeds up the pipeline sales because it allows reps to focus on the well-qualified leads.
3. Marketing Automation: Send Warm Prospects Useful Information
Look at the various stages of the CRM pipeline and working with client sales managers decide which tasks can and should be automated. Automating sales activities help in both lead scoring and in improving the sales process, ensuring that leads are not ignored or forgotten. When automating lead nurturing activities such as email campaigns and follow-ups, users have shown a significant increase in sales productivity. Now sales reps can spend more time concentrating on well-qualified leads. Marketing can now strategize channel email campaigns, create winning email content, and make the best use of email marketing metrics.
4. Sales Process Improvement: Customized Sales Process Closes More Deals Faster
Each step in the sales process should show incremental commitment. To define an effective sales process and gain incremental commitment, sales managers should define a customized sales process and how to discuss the process in relation to the pipeline with their front lines.
5. CRM: More Than Tracking Numbers, Insight To Close
Along with a well-defined sales process, sales managers need to carefully manage the pipeline, an activity which is more than simply looking at daily or weekly reports. Both sales managers and sales teams need to understand that sales pipeline management is more than simply tracking numbers. While sales pipeline tracking produces reports, sales pipeline management allows sales departments to drill down into the numbers to see where their actions can accelerate the sales cycle. Customer Relationship Management (CRM) software gives managers easy access to the data necessary to coach teams and manage the pipeline. Evaluate, implement, or make the best use of CRM software for sales, marketing, and management purposes.
6. Coaching: Drilling Down Into CRM Pipeline Reports
Using CRM reports to understand and analyze data gives sales managers the information needed to coach. Good sales coaching isn’t all about attitude motivation. Good coaching is drilling down into the CRM pipeline reports with your reps and planning specific steps for each deal in the pipeline. Sales managers should drill down into the sales pipeline to extract projected or hidden data in order to work with sales reps to gain insight into the needs of lead prospects.
How SOS Can Help: We partner with your sales team in each of the above key areas to accelerate your sales cycle to help you close more B2B sales.
Contact SOS for more information based on your specific needs.
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