The Intelligent B2B Business Funnel

Dare the mention the sales funnel in certain company, and you will almost certainly open up a Pandora’s Box of debate. From dissension and provocative statements about the death of the model, (metaphorical tombstones swimming before your very eyes: “RIP simplistic and harmonious marketing to certain sales trajectory.”) To old-school salespeople trumpeting its attributes, probably panic-stricken at this notion, senselessly waving funnels pilfered from the kitchen whilst communicating to the outside world on oversized typewriters by candle light.

Back in the real world, people generally agree that the sales funnel is a useful tool. Is it defunct as a modern B2B business model? No! It’s a massive oversimplification but we all know that, right? 

The Customer Journey

There’s been a lot of insight into the customer journey over recent years, almost like the traditional marketing world has been ambushed by social media and is desperately trying to rationalise the effect of this on the linear sales structure, begging the question of where companies should amass their marketing and sales efforts.

The truth is that the sales structure has never really been linear. People have always dropped out of the process at different points but like a flock of migrating birds, there is the potential of a customer’s return. The key is attracting and maintaining relationships with these contacts.

A Modern Condition

In this day and age it’s all about the bottom line. Every expense is scrutinised. Buyers within companies are more discerning and yet as a perfectly fabulous contradiction, they are lazier. In this time poor culture things need to be simple, attractive and above all they need to make business sense. Marketing and sales messages need to be timely and relevant.

The need to build brand recognition and reputation has never been greater. I won’t venture down the clichéd route of saying that “the consumer is king.” We all know what that means in smack-you-round-the-head marketing lingo, but there is a lot of ambient noise from brands out there and customers’ attention span is limited.  Building ongoing relationships with potential buyers enables businesses to streamline the marketing to sales function. It’s about understanding your contacts and speaking to them. Attracting them (if we were to revert back to sales funnel language.)

Engaging with your Customers

Rather than confusing the sales process, the emergence of social media has in fact added a new host of tools to the marketer’s repertoire. More ways to entice the potential customer, greater opportunity of engaging and opening a dialogue. Of course, in this electronically buzzed-up world people also have more opportunities to research a product or a service than ever before, but this does usually mean that by the time they make it to the sales phases (right at the bottom of the funnel, folks), they are well informed and primed to buy.

Review websites, blogs, directories and social media are all on the investigative tick-list for buying a product or service. But at what point do B2B customers use these tools and when can we expect conversion? The answer – at the risk of sounding contentious – is the same as ever (i.e. as your mother might say; how long is a piece of string?) Each of these resources can be used right at the beginning in the absorbing information phase, and they can creep into the purchase planning phases. And interestingly, the remit of online assets such and these don’t end here. Go full circle and social media can be used post-sale as customers become brand advocates. So, from a marketing point of view, they are well worth the investment.

Making it Work for You

The crux of the matter is that the sales funnel needs to work for you. It’s a good way of visualising your customer’s journey and using this as a template to build a relationship with them, but only if you have an insight into your typical buyer. Without this, you are simply trying to shove a square peg into a round hole. I’m sure I could think of another metaphor using a funnel to labour the point further, but I’m feeling generous so I’ll spare you. Suffice to say, know your customer, tailor your marketing and sales function to fit, put it down on paper and you will find that it fits the old B2B sales funnel of sorts. So, Long Live the Intelligently Tailored Sales Funnel. Use it wisely.