B2B and the Sales Funnel

Today I was going to write about B2B Marketing Strategies.  But I couldn't really do that until I had dipped into the B2B Sales Funnel. 

The sales funnel demonstrates the sales process.  B2B marketing and sales team seek to fill their
sales funnel, and then to track and predict sales. These are critical functions and metrics given the
typically long and complex sales cycle for B2B relationships.

The funnel is shaped like a funnel (was that too obvious).  At the top of the funnel, there are
millions of prospective customers.  But, really there aren't many real prospective customers in
there.  So, as these people fall through this funnel, you find that there are fewer and fewer and
fewer real potential customers.  At the end of the of the sales process very few prospects become real
customers.

Depending on the funnel you look to, you will find different stages and different numbers of stages.  The Marketing team is responsible for the "top half" of the funnel - i.e. attracting qualified leads - while the sales team takes the relationship from there and closes the deal.  A good B2B organization tracks the funnel and customers at each stage to know how much potential business they have in their funnel.  This helps a business to accurately predict sales. 

A B2B sales organization uses Marketing Automation software like SalesForce.com to help track the funnel.

Next up ... a discussion of a more complex B2B sales funnel which shows some additional dynamics.

Ask the question

Are you a sales person? Do you spend your days in front of customers?

Next time you meet with a prospective customer, check out how much you talk versus how much you let them talk. Then decide if you are a Sales Professional or an order taker.

More than anything, your prospective customer wants to be heard. They want you to ask them questions that will help them describe the problems they are facing. They want to tell you how badly they need your help. They want to tell you their dreams and visions.

If you are an order taker, you can wait for nothing more than the chance to tell the customer all about what you are selling. You want and need to talk. You don't ask questions. You talk.

As a Sales Professional, your job is to ask the questions that will help the prospective customer tell you what they need. The who, what, when, where, why, and how questions from many angles are the ones that make the difference. Then when they are really done telling you what they need (and only then), you get the opportunity to describe how your solution will help the prospective customer see a clear and easy path to achieving that state.

Are you a sales person? Do you want to be an order taker or a Sales Professional. It is in your hands.