{"id":18980,"date":"2022-11-25T20:13:59","date_gmt":"2022-11-25T20:13:59","guid":{"rendered":"https:\/\/mailinvest.blog\/index.php\/2022\/11\/25\/building-a-healthy-b2b-sales-pipeline\/"},"modified":"2022-11-25T20:13:59","modified_gmt":"2022-11-25T20:13:59","slug":"building-a-healthy-b2b-sales-pipeline","status":"publish","type":"post","link":"https:\/\/mailinvest.blog\/index.php\/2022\/11\/25\/building-a-healthy-b2b-sales-pipeline\/","title":{"rendered":"Building a Healthy B2B Sales Pipeline"},"content":{"rendered":"

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Step #3: Proactive B2B Sales Pipeline Management<\/h2>\n

The ability to be reactive to prospect engagement can be hugely effective in developing a fast-moving relationship. However, it\u2019s key to remember that you cannot rely solely on your prospect\u2019s actions to close a sale \u2013 your behavior must drive their actions too.<\/p>\n

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Learning From Your Successes<\/h3>\n

Even when your results are on the up, it\u2019s important to continually monitor your B2B sales pipeline velocity and measure how your actions affect the prospects\u2019 decision-making process \u2013 and that means metrics<\/p>\n

Make a note of the average time your prospects spend on each buying phase. Do you notice anything that changes, increases or decreases each time? What is the probability of a win at each phase and what actions have improved this before? Are you assessing your won and lost sales by industry, company size, and lead source?<\/p>\n

By transforming these insights into hard metrics, you\u2019ll have the power to manage your B2B sales pipeline according to actions, rather than hoping for a win. In turn, you\u2019ll be able to evolve your pipeline, shorten sales cycles and increase win rates. Lead Forensics provides the data you need to identify these trends, including your prospects\u2019 business information, size, activity, and lead source.<\/p>\n

Don\u2019t forget to share your metrics too \u2013 discussing your learnings with colleagues will reinforce your findings or force you to re-evaluate.<\/p>\n

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Turning The \u201cNo Decision\u201d Into Intelligence<\/h3>\n

Whether it\u2019s \u201cno budget\u201d, \u201cno current need\u201d or a lack of authority, by now you\u2019ll have identified your common objections and have a plan on how you can win them back. But what about the dreaded \u201cno decision\u201d?<\/p>\n

According to a CSO Insights research report, sales don\u2019t close 53% of their forecasted deals, a staggering 26% of which were attributed to \u201cno decision\u201d, and in addition, 50% of marketing qualified leads (MQLs) are not ready to buy. But \u201cnot right now\u201d doesn\u2019t always mean \u201cno\u201d.<\/p>\n

It\u2019s easy for prospects to decide not to decide, but whilst winning the deal is sales priority number one, getting to a conclusive \u201cno\u201d fast is crucial to your B2B sales pipeline management.<\/p>\n

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Remember that feedback is gold dust, and it\u2019s crucial to ask yourself \u201cwhy did a no decision happen?\u201d to avoid investing your time on non-movers in the future.<\/p>\n

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TIP<\/strong>: Consider using Lead Forensics to maintain your relationship and be reactive when the prospect re-engages \u2013 you might be surprised when a \u201cno decision\u201d prospect comes back to life. The Watch List feature will alert you in real-time when your prospect visits your website, allowing you to make timely contact and ensure they don\u2019t engage with a competitor first.<\/p>\n<\/blockquote>\n

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It Doesn\u2019t Always End With A Sale<\/h3>\n

We\u2019ve all heard and know that it\u2019s more profitable to retain a customer than to acquire a new one. In fact, it can cost between 4 and 10 times more to acquire a new customer. Maintaining the relationship you nurtured through the sales funnel shouldn\u2019t end once your prospect has committed to a sale. And if you want to lock in their renewal, add an upsell or get them to refer business to you, it\u2019s essential to ensure they continue to feel valued by you.<\/p>\n

Remember that the \u2018personal touch\u2019 counts, especially when 68% of clients leave because of the treatment they receive. Consider the points through the customer journey you should touch base, keeping in mind their communication preferences. Could you schedule performance reviews? Could you create a reminder of their noteworthy business dates like anniversaries or events they are holding, and send content that would be relevant to them?<\/p>\n

An increase of 2% in customer retention is a saving of 10% in costs. So whether you\u2019re renewing, upselling or taking a long-term sales approach, if your client feels valued, your B2B sales pipeline forecast will look much healthier. And timely points of contact could give you an even better chance of selling that extra product.<\/p>\n

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TIP<\/strong>: Use Lead Forensics to discover when current clients are looking at product pages on your website and take that as your cue to re-engage.<\/p>\n<\/blockquote>\n

Take a pipeline health check with a free Lead Forensics trial, and you\u2019ll discover just how many new business and upsell opportunities you\u2018re missing out on.<\/p>\n<\/div>\n