How to Get Back in the Buyer Journey Before it’s too Late
3 Ways to Be Engaged Early in the Buyer Journey
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New mobile apps to keep an eye on
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What new social media mobile apps are available in 2022?
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Use new social media apps as marketing funnels
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Let’s face it, revenue leaders, buyers don’t want you in the purchase process until they have no choice. It’s hard to blame them after years of endless emails and phone calls from vendors. When the time comes to actually make a purchase, the last thing a buyer wants is to be inundated with information and pressure from the traditional sales process.
As a result, 80% of the buyer journey is conducted before an inquiry is made. With endless insights and research at their fingertips, buyers can save themselves time at every stage of the process and engage with vendors from a position of strength. They are educated, informed and clearly understand which product will help them solve their problem.
But is this new found confidence in vendor selection warranted?
Buyers remorse with B2B technology is real and growing with 60% of buyers saying they regret a recent purchase. However, with all of this regret, the customer is still in charge of the process and your time with prospects continues to shrink. Here you are with a product that can solve their problem and alleviate their pain, but instead of letting you in, you’re left to hope that while they navigate all of their technology options, they turn to you in the end.
How did we get here?
With all the information available, it’s hard to fault buyers for thinking some Google searches and visiting a few websites makes them an expert. Marketers have been working for years to develop content, information and experiences that enable self education. It’s on the website, distributed across paid and earned channels and demonstrated through social proof. All in an effort to get the right message, to the right person at the right time.
Sales teams are working overtime to build relationships to set the stage for future opportunities. They are arming themselves with contact lists, renewal dates and contract terms in an effort to get the timing perfect.
However, while we all try to be in the right place at the right time, buyers are out there sliding by in the shadows hoping to avoid our gaze. Rebelling against branded content in search for independent perspectives. It’s their world now and we are just playing by their rules.
But it doesn’t have to be this way.
Here are 3 ways to get your revenue team back in the journey before a prospect makes a decision and you can put all of your experienced sales skills to good use.
Identify prospects with a problem, before they need a solution
When it comes to the purchase behaviors of banks and credit unions, 92% of them will turn to their peers before ever visiting a vendor website. It’s through these interactions with peers that the depth and scale of the problem is defined.
Before they even get to the point of determining that they need a new mobile banking application, they are engaging with peers on how to improve lagging deposits.
Being able to identify a prospect who self identifies as struggling with a decrease in deposits creates a true opportunity to engage with the right person, at the right time with the right message. By the time they’ve shown interest in Mobile Banking Applications, they’ve probably already got a short list of potential providers.
Reveal the buying committee
The buying committee for B2B purchases has ballooned to 10 people. All of them conduct their own research and collaborate to decrease risk and create alignment across the business.
If you’re only targeting the Chief Lending Officer about your new Loan Origination Platform, you may be missing a big opportunity. Today, the committee wants to be sure that any time spent considering a purchase meets the needs of leadership, end users, regulatory requirements and fits into the technology roadmap.
By revealing the committee members early in the journey, you have the ability to influence perception across all functional areas and address their concerns directly.
Understand the urgency
No buyer journey is alike. Some will take their time and follow a detailed process while others will cut right to the point and signal their intentions. Buyer motivations are vast and complex, so operating in a static, assumed journey is a recipe for failure.
Know the difference between a potential prospect that needs to make a purchase quickly and one that can afford to wait. By identifying urgency, you can be sure that you don’t invest the same level of effort on someone with a 6 month purchase timeline as you would with someone who plans to buy in the next 30 days.
Revenue Intelligence data gives you the opportunity to intersect with the right prospect accounts, at the right time with the right message. When integrated into your existing sales process, you can anticipate who the next buyer might be and position your product as the right solution for them.
Say goodbye to spending 6 months building relationships only to learn that your prospect is just going to renew with their current provider and redirect that effort into those accounts that are signaling a change might be coming.
After all, if you can influence a buyer when they are only 60% through their journey, you are still 20% better than your competition.
