The world of B2B selling is changing all the time. There are new developments altering the landscape, and you have to keep up with them if you want to succeed. The big trend in B2B marketing is predictive sales. It's where businesses are not approaching leads until they have a good idea that they can convert them into a real customer.
B2B selling is becoming more about the numbers, and there are new tools on the market designed to facilitate this. This guide is going to show how and why this change has arrived.
Businesses have long had the problem of not being able to ensure that they are spending their time on leads that are actually going to convert. Conversion rates are incredibly low, with many industries barely converting 5%. It means the majority of time spent on B2B selling is wasted time, which reduces the profitability of the company.
One of the reasons why this has changed now is because technology has enabled it. The rise of new technology and the ability to analyze customer behaviors accurately has made sure new products that work can hit the market. And that's why this is a growing niche.
Predictable Revenue Making Technology Center Stage
There will always be a place for great salespeople. The difference is that now they are combining technology to make sure they are only focusing on the right people. The author Aaron Ross wrote about this same issue in his book Predictable Revenue.
In his book, he wrote that technology is allowing businesses to accurately predict how much money they are likely to extract from each customer. Through personalized scoring systems, they can prioritize the hottest leads first. And this is where technology ends and the old-fashioned sales tactics of before begin.
It's wrong to believe that just because technology makes up such a big part of the B2B selling process that the silver tongue of a great salesperson is no longer needed. Convincing someone to buy something is still about emotion and it's still about a real human connection.
How It Works
At this point, you're likely wondering how all this works.
The truth is that this has always existed in some form. The difference is businesses had to manually analyze customer behaviors, and they didn't have access to the same data as before. There are tools available that have now managed to make this an automatic process.
One such tool that we use is Bant.io. This allows you to get hot leads straight to your email inbox. The way it works is it takes into account your needs and extracts a narrow list from its own database of active leads. That list is sent to you with important information attached, so you can decide your plan of attack. It's based on customer behaviors and you can change the leads you get by making alterations to your needs.
What Lies Ahead for Predictive Selling?
It's easy to see why predictive sales have become so popular. It all revolves around the rise of big data in general. Big data has provided businesses large and small with more data to analyze and to play around with. Predictive selling is part of a general trend that's seeing companies rely more on technology than charisma and gut instinct.
The presence of predictive selling has, for many businesses, sparked increased conversion rates and better relationships with customers. If you already know what your customers want, you will know exactly how to approach them. It's just like reading their minds. It's why 74% of buyers purchase based on the first salesperson to add insight and value.
Before, it was a guessing game. Today, you already know the answer before you make an approach.
How You Should Take Advantage of Predictive Selling
Taking advantage of predictive analytics for selling isn't difficult. It's about placing a sales development team before the actual sales team so they are not working on fruitless causes. Learn to analyze customer behaviors and learn to be pickier about the leads you attempt to nurture.
How will you benefit from predictive sales today?