Pipeline generation has got harder, partly because buying has got easier. People are less willing to have conversations with sales executives, perceiving them to have limited value to offer. This has been propelled by the digitalisation of outreach and the disintermediation of routes to market.
Most organisations want to mimic the D2C (direct-to-consumer) model which has been so successful in consumer sales that it has become the driving model for business sales.
In an oversimplification, you could argue that just like the D2C model, B2Bs should let the consumer find the right supplier themselves, and then utilise an effective customer experience platform to make the purchase.
Following the D2C model then pipeline generation looks like this:
- Brand-building: Establishing a robust brand presence.
- Personalisation: Tailoring messages through customer data.
- Influencer marketing: Leveraging influencers to educate, create awareness, and induce FOMO.
- Building customer loyalty: Fostering loyalty, often supported by effective subscription models.
- Agility: Evolving alongside consumer needs.
Metrics for success:
Focus on the LTV:CAC ratio (Lifetime Value to Customer Acquisition Cost), aiming for a 3 to 1 ratio. Are you investing enough in customer acquisition? Consider the average LTV:CAC ratio in SaaS B2B, which is 4 to 1, and this excludes sales executives!
Many organisations underspend on marketing activities, (I know we do), because they associate them only with brand building and use their “sales force” to do much of the outreach. After all, we don’t need as many customers as a consumer-focused business, and we all know that people buy from people (unless you are buying everything online!)
The success of the D2C pipeline generation model is how much effort they focus on building a reason to change and building solution criteria, long before they talk about themselves and their offering. This may lead to a longer sales cycle but improved conversion rates.
Lessons to learn from D2C sales for B2B sales success:
- Create reasons to change: Start by sharing insights that add value and prompt recipients to question the status quo.
- Personalisation is key: Tailor reasons to change based on industry insights, regions, and risks/opportunities.
- Storytelling with real examples: Share stories based on real companies and real people that can be confirmed, consider video case studies.
- Multi-channel approach: Use digital, social, and cold-calling channels strategically, focusing on what you convey. Be patient, don’t ask for a meeting/demo when you first contact, build out a reason to change and when the time is right the buyer will want to discuss as they will see value in talking to you.
- Data-driven evolution: Gather and analyse data, adapting channel usage based on impact.
Elevating your B2B pipeline game with AI
No exploration of modern B2B success is complete without acknowledging the transformative role of AI. While a detailed discussion on AI in sales is reserved for later, its impact on an effective pipeline generation process can’t be overlooked.
AI acts as a facilitator in several ways:
- pinpointing industry and regional dynamics,
- revealing reasons to change,
- presenting insightful risks and opportunities,
- assisting in content creation for your channel.
However, it’s crucial not to view AI as a shortcut to saving time, but rather as a catalyst for enhancing effectiveness.
You should use AI to kickstart the process, steering clear of the temptation to delegate all tasks. The time saved in initial research should be reinvested to elevate the quality of messaging and overall campaign activity, turning efficiency gains into effectiveness gains.
In our digitally-driven landscape, AI’s role extends to deciphering data patterns, offering a valuable tool for learning and evolving pipeline creation strategies.
If you’d like us to teach your team how to sell with a buyer’s perspective, please contact us via the form below and a member of our team will get back to you promptly.
