the buyer's funnel a more dynamic way to convert, sell and win
TRANSCRIPT
The Buyer’s Funnel: A More Dynamic Way to Convert, Sell and Win
James FranklinManaging DirectorImpact B2B Sales
Presenters
Our GuestJames A. Franklin is a senior sales leadership professional with over 20 years of success in building, leading, mentoring, managing and coaching sales teams in North America.
Your Host
Nate Warren is the host of the Business Planning Expert series and a marketing/advertising/PR writer and editor with more than 25 years of experience across newspapers, startups and agencies.
Challenges facing Sales OrganizationsMost of the buyer decision is made prior to engaging with a sales rep
Buyer Begins Search
Buyer Contacts Vendor
Buyer Purchase Decision
70% COMPLETE
Only 45.9% of sales forecasts are accurate
Only 33% of a sales rep’s time is actually spent selling
Only 58% of sales reps made quota last year
Over 50% of companies have no formal sales process
PROCESS
How to address the challenges?
• Is your sales process capable of matching the current dynamic buyers cycle?
• Is your sales team trained to understand the business issues facing today’s buyers?
• Does your organization have the ability to deliver the right content to the appropriate buyer persona at the right time?
The Traditional Seller-Centric Sales Funnel
• An incomplete picture that costs you leads and extends sales cycles
• Typically very linear
• One size DOES NOT fit all
Planning for the Dynamic Buying Process: The Five Elements• Explore – A prospect does research to
discover a particular universe of relevant solutions
• Evaluate – A prospect dives deeper into the features and business value of a subset of targeted solutions and begins a comparison process.
• Engage – The prospect reaches out to request demos, case studies, pricing, etc. that informs them whether or not the solution will effectively address their business needs.
• Experience – The prospect becomes a customer and ideally experiences the benefits of the solution.
• Expand – Becomes an advocate for the vendor partner, which opens possibilities for additional products and/or services.
Buyer’s cycle and selling funnel
Responsive, Not Rigid
• Right content to the right prospect at the right time
• Train reps to identify prospects business requirements throughout the buyer’s cycle
• Track EVERYTHING
© CBM Confidential
Key Questions
• Have you identified the buyer’s cycle?• How are you mapping buyer’s cycle to your
sales process, training and content delivery?• What is your technology stack that supports
the buying cycle and sales process?• Does your current reporting and analytics
solution support KPIs – e.g., conversion ratios, content tracking and forecast accuracy?
© CBM Confidential
Our Guest Today
James Franklin
http://linkd.in/1F2gldy
Managing DirectorImpact B2B Sales
Center for Business Modeling
View the entire Business Planning Expert Series
https://www.centerforbusinessmodeling/expert-series/
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