Page 59 - The European Business Review
P. 59
Integrating systems and improving communication is based on the salesperson’s perspective, not the
between marketing and sales increases the value of customer’s, consists of prospecting, pre-approach,
these efforts. A Marketo study found that when approach, presentation, close, and follow up, much
sales and marketing work together, businesses are RI ZKLFK KDV DQ RQOLQH FRUROODU\ WKDW EHWWHU UHÁHFWV
10
67% better at closing deals. today’s reality. Buyers now reach
Migrate to a multi-touch marketing attri-
In the new model, prospecting and the pre-
3 out to sales
bution model. Single touch attribution approach becomes SEO, social engagement, and a
representative when
PRGHOV ² ÀUVW RU ODVW ² DUH JRRG IRU VLPSOH media buying strategy that ensures valuable, rele-
they’re ready to buy,
buying situations, but not for complex ones typical vant content is found by appropriate prospects. or need detailed
or customised
of B2B situations, because they only give credit for In addition, presentations can be replaced with information
the sale to the content right before they close or the infographics, online videos, webinars and other – and quick and
robust answers
one that initially captured the lead not accounting for informative content that proves value, estab-
are expected.
WKH HQWLUH FXVWRPHU MRXUQH\ 7KH ÀUVW WRXFK FRXOG lishes expertise, plus demonstrates features and
be a banner ad, social message, or a video found EHQHÀWV 7KLV PRYHV WKH VDOHV IXQFWLRQ RXW RI
WKURXJK VHDUFK EXW LW ZRXOG LJQRUH WKH LQÁXHQFH RI an “always closing” mentality and into a “trusted
say, an eBook, LinkedIn post, or blog article had in advisor” role. 17
turning the initial interest into a sales contact despite Finally, policies and processes for real-
the fact that the more content you get into the initial time answers need to be created especially
VWDJH WKH PRUH LQÁXHQFH \RX·OO KDYH LQ JHWWLQJ LQWR 6 in social media. Buyers now reach out to
the consideration and contact set. Likewise, if you sales representative when they’re ready to buy, or
use a last touch attribution model, you will miss need detailed or customised information – and
crediting all of the content that moved B2B buyers quick and robust answers are expected.
along their respective journeys. Unfortunately, 55%
of B2B marketers are only using single-touch attri- Vodafone is a global company that has
bution models, even though CRM tools can help succeeded with an inbound B2B sales strategy.
automate multi-touch attribution. 11,12 The company realised that its B2B customers
You need to become GDPR compliant, were changing the way they buy and were seeking
which requires that marketers get consent service providers who have a strategic under-
4 before sending digital communications to standing of their business, offer practical advice,
prospects. What’s more, the communications must and deliver value with the sales conversation.
be related to that consent and the purpose for which
it was collected.
As a result, marketing’s ability to hunt prospects
for leads through outbound efforts is severely
limited. Third party lists can’t simply be bought
with opt-in assumed. Consent must be explicit
and records must be maintained. What’s more,
since consumers will most likely be hit with more
H[SOLFLW DQG IUHTXHQW FRQVHQW QRWLÀFDWLRQV RSW
outs could increase.
The penalty for noncompliance is up to 4% of
annual global turnover or 20 Million Euro which-
ever is greater. So, while marketing will still play a
role, salespeople will now have a greater need to
pull in their own leads, which inbound strategies
can enable. 13,14,15,16
You should end cold calling or, at least,
de-emphasise it to focus on social
5 selling. The traditional sales process, which
www.europeanbusinessreview.com 59