Sales funnel model can perfectly fit B2C marketing but will fail to register well with a B2B model. This is because one doesn’t associate with individual leads in B2B marketing but with the company on the whole. A perfect B2B marketing cycle should have something which covers all the phases of a continuous, looping journey and track engagement of companies as your customers.
If not Sales funnel, then what?
B2B marketing should switch from Sales funnel strategy to Company Buying Journey (CBJ) model. As per B2Beacon, an educational initiative from Clickz, CBJ is a continuous, looping journey. B2B customer relationships don’t move in one direction towards a sale and then end there. They are more complex for moving in a nonlinear and continuous process. They can be broken into four main phases: EXPLORE — EVALUATE — PURCHASE — EXPERIENCE.
The 3 main steps to be followed at each level:
- Analyze – Analyze your customer needs
- Act – Act upon the need by providing right solutions
- Associate – Associate with your prospects and plan for the next level
Why Span Global Services believes in this model?
B2B marketing is not a onetime sales process. A report from Demandbase states that 82 percent of revenue for mid to large B2B companies comes from current customers. When you anticipate and meet your customers’ needs at different levels of the purchase, you build strong relationships, and thereby, improve your performance. Certainly, your detailed strategy and priorities will vary based on your situation, but the essential approach applies.
Once you mix your data-driven marketing strategy with CBJ and segmented database, you will see the difference in your repeat sales and brand loyalty. To know more about data-driven marketing services, leave your message here and get expert advice immediately.