Tracking main buying signals for refining the chances of converting B2B deals
Tracking customers seems easy but is a time consuming process and requires full concentration. Design a buyer persona and then look out fo0r the hot leads that match the basic requirements. This is a crucial step and is often forgotten by the sales and marketing professionals. They fail to identify and track the buying signals of potential leads and prospects. This results in a lower conversion rate that could have otherwise generated better revenue for B2B businesses.
Properly defining buying signals
In simple words, buying signals are the basic steps that are taken by the potential buyers. This suggests that they are close to buying the products and services. These buying signals are the most important when it comes to B2B sales and marketing teams. It helps in focusing on the leads that have a higher probability of converting into customers.
Buying signals B2B professionals must track
Now, we have a basic idea about the buying signals. Thus, we can identify the type of buying signals that sales professionals must focus on. Here are the top buying signals that you must keep an eye on to capitalize on the opportunities.
Buying signals help in personalizing the cold calls, video calling and email tactics. By properly focussing on the buying signals, you can improve the outreach activities.
Whenever the upper management changes, the new individuals always bring new goals and learning with them. It helps in streamlining the procedures. Revamping the existing techniques brings new opportunities. Addition of new approaches and perspectives surely bring positive changes. During these changing times, keep tracking the influence of leadership change on the prospects. Also, during these times a new budget is always around the corner.
Whenever a new management body is formed, there are changes on the prospects’s ide as well. Always keep an eye on this from the prospects' angle. This helps in understanding the influence of the changing management body. New team also brings new opportunities that can be used for upselling customers.
Tracking competitors’ contract termination
There will always be a cut throat competition. The B2B business that offers the best services wins the deal. However, this does not continue for long. There is no need to lose hope. You might have lost the deal due to a difference in price but tracking the contract will surely bring positive news in the offing.
Reaching out to prospects before the last phase of contract and asking them if they are ready to change. Regular updates in products and services always open up new gates of opportunities. Keeping track of your users and competitors’ users helps in convincing the prospects by highlighting the product superiority. Remind them that there is always a better option available in the B2B industry.
A prospect opening an email is a weak signal of buying intent. On the other hand, if prospects repeatedly click links, this shows that they are highly likely to buy. This can be improved by sharing targeted emails rather than just sharing general content.
Website and content engagement
The B2B buying journey is long yet the buyers are halfway through even before interacting with the sales team. Now, you need to focus on the methods of reaching prospects in the early stages of buying.
You can use tools such as Google Analytics to understand the behaviour of prospects on your website and to understand the way they interact with your in-house content. These tools help in properly gauging how the customers engage with your website and shared content.
Inclination towards a use case
If the prospective B2B customer is interested to know more about a particular use case or shows interest in a success story, this shows strong intention of buying. Tracking this buying signal helps in understanding which content is resonating with the B2B prospects.
If you are sharing a targeted email chain and the prospects keep opening the links, this shows that they are highly interested to know more and take a step towards buying your products and services. In the B2B segment, this is a strong sign that they are already closer to buying decisions.
Engaging over social media network
Social media is the bridge between you and your prospects. Regularly posting content helps you in engaging with prospects. But only a few sales teams identify the emerging opportunities.
If the prospect has followed your page or wants to get a regular update, this is a strong sign of buying. It also shows that the buyer is highly interested in your products and services.