Efficiency is doing things right…and effectiveness is doing the right things. So by this principle, can love be quantified? and is it worthwhile? When applied to B2B marketing and sales conversion rates, if you are doing the right things, the answer is yes!
Inbound and Outbound marketing love story
In order to set out the right strategy and sales objecives it is important to start gathering data through inbound marketing so that you can measure and benchmark some ratios; the percentage of website visitors who convert into leads by filling out a form, call your company, or participate in your events. The percentage of leads that you can turn into outbound oportunitites and are issued proposals, and the percentage of proposals you end up winning.
The 7 principles to improve sales conversion rates:
Speed: Increases by 300% when a lead is contacted within 4h. Industry average time 48h
Discipline: "Follow up is king", need an average of 6 contact attempts. Industry average 2 attempts...
Productivity: Use automation, sales processes and tools. Sales reps spend 50% of their time determining next steps.
Problem solutions based content: Use qualified data to target accounts with the right content they need. Applying only "hard sales" will reduce conversion rates by 75%.
Account Based Marketing: 1:1 approach on key accounts.
Proposal process: Master it. 50% of sales reps still send their proposals via email...
Value based ROI: Proposals typically lack value based approach
If you would like to get a better insight on how your sales team can improve sales conversion rates or accelerate your business, please contact the marketing team of IVC at firstname.lastname@example.org.
The integration of inbound and outbound marketing with sales is key. In a B2B contex the go.to.market approach is all about Account Based Marketing, nurturing the relationships with targetted key accounts. On the marketing front, efforts are oriented to getting the right content to the right accounts. Based on the ABM data the sales reps develop a better cunning on what deals to pursue.
6 Symptoms that your company needs Inbound Marketing
Know your company inside out through KPIS
Building winning sales tactics