As the market continues to change and develop, we are beginning to realize that, in the face of macroeconomic challenges, B2B sales are becoming an increasingly complex and challenging field.
Budgets are shrinking, global players are crowding markets, and the decision-making chain is becoming more prominent and increasingly complicated to navigate.
Naturally, this increases the time it takes to close a deal , with more acquisition steps than ever before and even more stakeholders to engage, influence and convince.
Negotiation cycles are getting longer in B2B sales
In 2023, the average startup saw a 24% increase in sales cycle ghana email list 805,081 contact leads length from early 2022 to 2023, from an average of 60 days to 75 days. The market is saturated with products and solutions for nearly every business challenge, and your prospects are increasingly aware of how many options are available. At least 34% of salespeople admit that closing deals is becoming more complex.
In the current climate, potential buyers are more cautious and need comprehensive, personalized information, tailored proposals and transparent communication to close a deal.
Today’s prospects are educated, highly skeptical, and perpetually concerned about the ROI per penny spent. This means there are more stakeholders, questions, conversations, and process steps to navigate.
Personalization is more important than you think
According to a 2021 Forbes survey , 91% of buyers report that they global marketing vs. domestic marketing: understanding the differences are more likely to purchase from brands that engage with them. At least 75% of buyers expect companies to anticipate their needs and make relevant suggestions before they make contact. Based on these numbers, it’s obvious that sales teams are leveraging personalization in some form.
When used correctly, personalization can lead to a 20% increase in user engagement. Otherwise, 77% of B2B buyers will only buy from personalized content. These numbers show that without a high level of personalization, prospects can quickly become disengaged and fall out of the pipeline.
Omnichannel selling continues to win
Omnichannel selling is a strategy that aims to create a seamless customer usa b2b list experience across multiple platforms. As buyers move between physical and digital spaces, you must provide a consistent conversational experience across all touchpoints.
To succeed in omnichannel selling, you must improve the quality of your sales interactions. As crucial as it is to hone your sales focus and tell stories, you must engage with buyers and prospects wherever they are; however they like to consume information.