B2B Sales Funnel: How to Build It Using Salesforce?
B2B Sales Funnel: Today creating and measuring a b2b sales funnel has become more accessible than ever, thanks to using Salesforce Sales Cloud implementation best practices of the Cloud CRM Salesforce.
Using Cloud CRM sales funnel makes it easier for employers to measure their b2b sales funnel.
It also contributes to converting potential customers or prospective customers into actual customers.
This is in addition to customer retention. Using salesforce marketing cloud CRM integration features will make phenomenal growth in your business.
So, Kapsys will answer the following question;
How to Build a B2B Sales Funnels using Salesforce?
by explaining some related points such as;
- What is the Sales Funnel Definition?
- What is the well-defined sales funnel?
- Why is the sales funnel important?
- What are B2B Sales Funnel Stages?
- Some Examples of B2B Sales Funnel.
- How to Build B2B Sales Funnel?
- Why Should You Use Salesforce Integration Cloud for Building B2B successful sales funnel?
The B2B term may sound familiar to many of you, and most of you have probably heard of the term b2b or encountered it while searching on the Internet or through a business discussion on the ground.
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What Does B2B Mean?
B2B is an acronym for business-to-business, which describes business transactions between businesses. The b2b companies are support companies that provide products and services that other companies need, such as payroll processing and industrial suppliers, etc. Many b2b companies aim to provide the raw materials, raw or off-the-shelf supplies, services, and consultancy that other businesses need to operate, grow, and profit.
What is a B2B Sales Funnel?
What Does B2B Sales Funnel Mean?
B2B sales funnel is a company's set of sales stages when selling directly to another business or organization rather than the end consumer. In other words, the B2B Sales funnel represents a buyer's journey from the first action to the final purchase. The first action in the sales process could be, for example, a Google search or Facebook ad, or sales pages. In this case, the customer is a potential customer, defined as a potential customer regardless of whether the customer is an individual or sales and marketing teams. While taking the first action, the qualified leads are at the top of the funnel. At this point, B2B companies aim to lure them to the bottom of the sales funnel, moving them from qualified prospects to existing customers.
Often, potential customers don't go to the bottom of the funnel through the sales cycle but can either climb through the funnel or even exit the conversion process altogether. This is where B2B companies come in. The B2B companies must follow up on the sales funnel to track the customer journey and customer expectations to turn more prospects. The sales and marketing efforts to understand the sales funnel management help you find the holes in the funnel, the places where prospects drop out and never convert in the sales process. Your successful sales lead funnel is how you qualify and filter a wide range of leads into paying customers.
Importance of B2B Sales Funnel
B2B sales funnels are essential for the sales team and the marketing teams to plan the sales strategy. The Sales Funnel contributes to the sales teams and the marketing team in promoting and selling the products to your target audience. The sales Funnel contributes to gaining the trust of the qualified lead. Sales Funnel increases qualified lead conversion rates. A sales Funnel increases awareness of B2B companies to understand each stage to improve the customer journey. Sales Funnel helps to achieve sales goals. To win more customers, You must have a thorough understanding of your customer's buying process and then help them move through the sales stage to the bottom of the Funnel.
What are the B2B Sales Funnel Stages?
Understanding the B2B Buyer Journey and defining the ideal buyer persona All B2B buyers go on the same buying journey. For example, some clients require a long quotation process; Others prefer a short trial of your products and services, while some may just be an upgrade program they already have, etc. However, you should familiarize yourself with the general B2B buyer journey. This will help you publish content that resonates best with your target market.
So here it is:
AIDA is the commonly used Acronym for these funnel stages. AIDA stands for Awareness, Interest, Decision, and Action.
The awareness stage is when the prospect's knowledge of your company. This stage is included within the Top of the Funnel stage, which we will discuss later.
The interest stage is when the prospect is intrigued by what your brand offers. They now have a desire for your products and services - the prospects have now moved from liking the idea of your products and services to wanting to buy. They also will evaluate competitor products here. This stage is included within the Middle of the Funnel stage, which we will discuss later.
The decision stage is when the prospect will take action to buy or not to buy. If they made the purchasing decision, this is where you will be contacted. It is included within the Middle of the Funnel stage, which we will discuss later.
The action stage of the sales is when the prospect purchases the product. As you analyze a potential client, try to place it somewhere in that timeline. Then use this to guide how you communicate with them. Each stage of the stages of the sales presents a different set of wants and needs - so be empathetic with that in your marketing and customer service to get to the next stage.
B2B Sales Funnel Examples-Sales Process
Kapsys shows several examples of b2b companies and the services they provide in order to clarify the concept of b2b sales: B2B transactions are in basically any type of business - logistics, catering, and of course IT. We at Kapsys cater to business customers, so we are B2B company. For example, Samsung is one of Apple's largest gadgets suppliers used in the iPhone industry. Apple also has b2b business relationships with companies such as Intel, Pansonic, and the semiconductor producers such as Micron Technology. B2B transactions are the backbone of the automobile industry, as many vehicle components are manufactured independently. Automakers purchase all parts to assemble cars, such as tires, batteries, electronics, hoses and door locks, for example, from different companies. The manufacturer buys these products from potential suppliers, integrates them into the final product, and sells them directly to the final consumer. Every company requires some products and consulting services from b2b companies. B2b companies specialize in every aspect of the manufacturing process, even retail. Wherever the business process takes place, you can ensure that a group of b2b company suppliers is active. Also, some companies provide payroll services, as we mentioned earlier. For example, ADP, provides payroll services (payroll stamps) to other companies. You can use the B2B sales funnel to improve the customer experience. At each stage of the sales funnel stages, the sales team is responsible for the frequent use of the sales stages:
Awareness (Top of the Funnel / TOFU)
Here, the first action by the new leads (inbound) or sales team (outbound) begins.
Attention and Resolution (Middle of the Funnel / MOFU)
Here is, The Consideration stage or the Middle of the Funnel stage where the sales team generates the list of leads. In the Middle of the Funnel sales, the sales teams have to have a tight process in place to follow up and convert customers at the different stages of the sale.
Action (bottom of the funnel / BOFU)
Here, the sales team closes the deal. Customer loyalty comes in at this stage as well.
The difference between internal B2B sales reps and external reps
In b2b sales, external salespeople often work out of offices because they meet clients in person. On the other hand, internal sales reps engage potential leads remotely through call, email, and video conferencing. In addition, internal sales reps can close deals without meeting their customers in person. In contrast, external sales reps almost make the sale during, or in the next few weeks, a personal meeting with the prospect. This difference in approach to engagement requires different skills and selling techniques necessary for any of the practices. For example, external sales reps benefit from in-depth product knowledge and interpersonal skills, while internal b2b sales reps become adept at using CRMs, email, social media, website visitors, and cross-selling. So, the internal sales reps would use some help from the salesforce integration patterns and practices to enhance the sales funnel.
B2B Sales Challenges
B2B sales face many challenges during the selling process, and the most pressing issues in b2b sales challenges include: Disruption of sales and marketing. Competition for a limited number of potential customers. Limited adoption of technology. An entrenched, outdated sales mentality. Lack of training and selling skills. Lots of organization and successful communication. But many of these limitations can be easily bypassed by using the salesforce integration marketing cloud.
How to Build a Salesforce Sales Funnel?
You can generate qualified leads from a website by setting the web to lead process inside salesforce. To build trust, sales teams need to be aware of the customers, and here is where the CRM role comes. You could also use the Salesforce Sales Cloud implementation strategies and salesforce Mobile app on the go to check businesses' contact details. Ensure you are using CRM software that provides a detailed Salesforce Sales Cloud implementation guide for your customers.
What is Sales Funnel Management in Customer Relationship Management (CRM)?
Sales funnel management is often defined as the process of managing incoming sales opportunities and tracking them through the different stages of the sales until they are finally closed, whether they are won or lost. A company that relies on spreadsheets may find it tedious to track sales leads and follow up as they grow. Still, the solution today for companies looking to get rid of cluttered spreadsheets is customer relationship management CRM software with sales funnel management capabilities. Using key metrics CRM helps you to create a successful sales funnel for your company. Here are some steps of the Salesforce for the sales funnel stages:
List Your Qualified Lead:
You can get a good sale by building a list of potential clients and other marketing efforts. With Salesforce tools like Salesforce Marketing Cloud and B2B Marketing Automation, Kapsys can help you get more leads between businesses. Using the Salesforce Sales Cloud implementation checklist, an internal sales rep can track and manage leads. You can hire Salesforce Marketing Cloud implementation partners to take on tedious and repetitive tasks of your sales rep and help you to save sales efforts.
Manage Your Opportunities:
Once the leads turn into paying customers, they are opportunities! The sales reps will have different criteria to lead the marketing funnel to opportunity. Use Salesforce Integration Cloud to focus on essential activities like presentations, demos, etc. You could also collaborate with Sales reps, marketing or management team by using salesforce integration tools to get salesforce integration best practices.
Use Salesforce Financial Services:
Use the salesforce financial services cloud implementation guide. You can automatically create a Salesforce Sales Cloud implementation guide pdf by entering product details and quoted price.
How to Take Advantage of all the Potential Revenue in your Sales Process of Marketing Funnel?
Using a sales funnel software in your sales process of marketing funnel like a CRM - salesforce marketing cloud CRM integration - where you can get qualified leads, track their activity at every stage of the sales process, and follow up automatically at the right time.
The Future of B2B Sales
The Gathers Future of Sales 2025 report predicts that by 2025 80% of b2b sales will occur between suppliers and buyers in digital channels. In addition, with the shift to a more digital approach, b2b sales reps will need to adopt new marketing tools and channels and new methods to find customers so as not to leave room for their competitors.
Following the sales funnel helps you determine how you can approach your customers, which products/services are best for a sales pitch, and what relevant messaging to use to close the deal and reach the won stage. Kapsys Salesforce Services will help you move between sales pipeline stages from one stage to the next stage smoothly and successfully.