Dealing with customers is never easy, especially in a B2B context; that’s why you will need a proper B2B Sales Funnel. Unlike B2C, customers are more emotional appeals, and B2B Sale Funnels are much more complex, likely to be more rational and focused on value and ROI when making purchase decisions.
As technology evolves, B2B relationships will continue growing, creating new business opportunities and challenges. Understanding the B2B Sales funnel can be an excellent approach for targeting customers and maintaining competitive advantages.
Table of Contents
Tips for Better Engagement
What is a B2B sales funnel and why is it important?
The B2B sales funnel is a structured framework that outlines the different stages a potential customer goes through when considering purchasing a product or service in a B2B (business-to-business) context.
By breaking down the sales process into different stages, businesses can completely understand the buying process, which enables businesses to measure and analyze their sales and marketing efforts and improves the overall customer experience.
Plus, the B2B sales funnel helps businesses identify the key touchpoints and interactions that occur during the buying journey. This allows businesses to develop targeted marketing strategies and sales tactics for each stage of the funnel, increasing the likelihood of converting potential customers into paying customers.
However, some argue that this model is too simplistic and doesn’t account for the complexities of modern B2B buying behaviors. As a result, many businesses have developed more nuanced and flexible models that take into account the unique characteristics of their target markets and customers.
6 stages of a B2B sales funnel and examples
Before making a purchase in a B2B context, a potential customer might go through different 6 stages, which are described via the B2B sales funnel model as follows. Note that the number of potential customers might decrease as they move through each stage.
Stage 1: Awareness
The purpose of the Awareness stage in the B2B sales funnel is to create brand awareness and attract potential customers who may be interested in your products or services. At this stage, the potential customers are not actively looking to make a purchase, but they may have a problem or a need that your business can solve.
This can be done through various marketing channels, such as door-to-door B2B sales, advertising, social media posts, Youtube videos, content marketing, and public relations.
Stage 2: Interest
The Interest stage in the B2B sales funnel is the second stage in the process of converting a potential customer into a paying customer. At this stage, the potential customer has become aware of your company and has shown some interest in your products or services.
Content marketing, webinars, or product demos can be effective marketing techniques to provide potential customers with relevant and useful information that helps them understand the benefits of your products or services
Stage 3: Evaluation
The goal of the Evaluation stage is to provide the potential customer with the information and resources they need to make an informed decision. This can be done by providing case studies, testimonials, trust badges, customer reviews, pricing pages, and product demos that demonstrate the value and benefits of your products or services.
By providing the right information and addressing any concerns or objections the potential customer may have, you can increase their confidence in your products or services and move them closer to making a purchase decision.
For example, let’s say you are selling B2B services. During the Evaluation stage, a potential customer may be researching various service providers available in the market, comparing features, reading customer reviews, and evaluating which service features and prices best meet their needs.
Stage 4: Engagement
The Engagement stage in the B2B sales funnel is an important stage in the process of converting a potential customer into a paying customer by providing ongoing support to increase their trust in the business.
During the Engagement stage, the potential customer is interacting with your business in various ways, such as filling out a contact form, educational presentations, subscribing to your newsletter, or attending a webinar. This stage is focused on building a relationship with the potential customer and nurturing their interest in your products or services.
Stage 5: Purchase
Coming to the fifth stage, after finalizing contract details and reviewing pricing options, the potential customer is making a final decision about whether or not to purchase your products or services. It marks the end of the B2B sales funnel and the beginning of the customer relationship,
For example, the software company follows up with interested prospects who have completed the demo or trial, providing them with pricing information and personalized recommendations. To increase the purchase value, on the Payment page, companies might use Cross-Selling and Upselling techniques.
Stage 6: Loyalty
Finally, when it comes to the Loyalty stage, businesses can use various strategies to keep customers engaged, such as providing exceptional customer service. It can be an offer of loyalty rewards or discounts, B2B Email marketing, product engagement tracking, and regularly checking in with customers to address any concerns or issues they may have.
By fostering customer loyalty, businesses can retain customers and generate positive word-of-mouth referrals and recommendations, which can help attract new customers and grow their customer base.
Tips to Create an Engaging B2B Sales Funnel
#1. Personalization is becoming increasingly important in the B2B sales funnel. According to a report by Salesforce, 80% of B2B buyers expect a personalized experience when interacting with vendors. Use customer data to personalize emails, offers, and content to make potential customers feel valued and understood.
#2. Engaging your customers with social media posts, like live polls and online gift takeaway events with AhaSlides Spinner Wheel during Black Fridays seasons or holidays.
HINT: Gain customer insights by using AhaSlides Fun Quizzes and Games!
- Use AhaSlides to create fun and engaging polls, surveys or games related to your product or service.
- Share the quiz or game with your audience via email, social media, or your website. Encourage participation by offering a prize or incentive.
#3. To offer effective educational presentations for customers, utilize video tutorials and, blogs, FAQs pages on your website to give comprehensive guides and useful information like how it works and can benefit them.
#4. Integrate Cold calling B2B into your sales funnel. For example, the sales team creates a list of potential leads and begins cold calling to introduce the company and its products or services.
#5. Create exceptional purchasing experience: Leverage Omnichannel selling to give customers positive and seamless purchasing across multiple channels and touchpoints, including online, mobile, and brick-and-mortar stores.
Many external factors might influence the B2B sales funnel, such as the economy, industry trends, and competition. Thus, businesses need to be agile and adapt their sales and marketing strategies in response to these changes to stay competitive.