B2B and B2C buyers – with the help of technology – have fundamentally changed the rules when it comes to the sales process. They are in the digital driver’s seat, calling the shots further and further into the funnel.

Think of when you buy a car. These days, you do extensive research online, visiting car manufacturers’ websites, comparison websites, forums and more. You ask for friends’ opinions on social media. And you do all of this before you even set foot in a dealership.

Indeed, by the time you get to a dealer, your mind is made up. You know what make and model you want – you’re there purely to negotiate on price. What does this mean for the dealership? They lose the ability to negotiate around performance or features – which in the past was a very influential conversation.   

Research from CEB and Gartner shows that buyers are not engaging with vendors until they are already 57% of the way through the sales cycle. By 2020, it is expected that this figure will grow to 85% – giving vendors a very limited window in which to close the sale. And this is true for both B2B and B2C organisations.

Digital transformation is the key to driving sales success

What can you do about this shift? First and foremost, you need to acknowledge that the path to purchase has irrevocably changed in this digital era. Then, knowing that you won’t get face-to-face engagement with a buyer until much later in the sales cycle, you’ve got two options:

1.     Play their game. Wait until the customer comes to you, and try to be faster, smarter and more efficient than your competitors.

2.    Change the game. Invest in digital engagement to address every point in the sales cycle – through a better website, online advertising, social media and more. This way, you’re talking to your customers much earlier.

Obviously, option 2 is the winner. And the good news is that enabling technologies exist to make this option much more effective. Leading organisations now use marketing automation to engage with digital consumers – creating, qualifying and building the pipeline. It gives you an automated tool for nurturing prospects and influencing buying behaviour.

While all of this is happening in the digital sphere, you can address the sales capabilities you should be bringing to market. For example, your sales team can really hone their efforts on the last mile. Armed with insights gained through your digital programs, they’ll know more about the customer – whether they’ve watched a particular video or compared products, say – and will be able to grow the relationship more effectively.

Because, after all, many buyers still value relationship. Marketing automation and digital strategies become the first, crucial step in building that relationship.

If you’d like to hear more about how organisations are overcoming these challenges, register for our upcoming Mastering Sales in a Digital World seminar. You’ll hear a presentation from Michael Barnes, VP, Research Director, Forrester; as well as insightful customer stories. We hope to see you there.