New research shows how organizations that prepare for increasingly digital disruption perform better financially. Despite that, only 12% of executives feel their organization is fully prepared for new realities of the B2B Buyer Journey.
In this recent Bain & Company study, the authors surveyed 370 marketing and sales executives in global technology and industrial markets. “The traditional sales and marketing model,” write the study’s authors, “has run its course.”
The researchers suggest organizations specific strategies to stay ahead of the digital buyers’ journey including:
- relevant insightful content,
- a comprehensive, smart view of the customer
- a tailored, dynamic buying experience
The authors challenge executives to ask specific, high-gain questions in order to begin the process of evolving their sales and marketing to meet these new challenges. Here are a few and our perspective on how to answer them:
“Are your marketing and sales teams aligned and focused on your sweet spot in the marketplace?”
A lack of marketing and sales alignment leads to shrinking revenue and margins, poor customer experience, and an ineffective sales force. The prevalence of digital B2B buying activities demands a solid messaging framework that no only drives marketing messages, but enables one-on-one sales conversation. Aligning this framework with the value and differentiation you provide the marketplace drives important message consistency that improves the buying process.
“Does your digital footprint allow you to reach and influence target customers who conduct their own decision-making research online?”
As B2B buyers inform purchasing decisions online, your organization needs a way to empower the digital sales process. Research from IDC, Forbes, and Aberdeen, increasingly shows that corporate decision makers leverage social media tools to make purchasing decisions. It’s not surprising that best-in-class sales organizations draft social into the sales process.
“Have you reimagined how customers will engage with your company throughout the buying process in a way that they prefer and that creates a memorable experience?”
Buyers have more power over their buying experience than ever before, and they exercise that power by choosing experiences that meet not only their needs, but also their preferences. It is critical that your organization commands the message throughout the entire customer journey. Developing a tool that drives value-based conversations not only for the sales team, but for anyone who is part of the customer engagement journey will not only “create memorable experiences”, it will build consistency and efficiency.
Read the full report from Bain and Company for additional insights here
