Think of it: You are a salesperson dialling endless numbers and sending thousands of cold emails, hoping for a silver lining of interest. But in return, your outreach efforts failed due to inefficiency and high expense, or your prospect may have changed their mind or moved to another product.
This highlights the market vulnerability and the dynamic nature of consumers who need something faster and more result-oriented. In a competitive market, this dynamic buyer nature makes traditional methods for the B2B sales funnel dead, with no results, and outdated. In this blog, we’ll highlight the importance of the modern approach and contact data.
The Dynamic Buyer Persona
In today’s tech world, buyers are informed about their needs and the product. Their nature is dynamic, and their perspective changes with the entry of each new product.
Whatever their journey is, it’s predictable. This shift in buyer persona highlights the need for a new approach. Further, it shows that using AI potential and enriched contact data can unlock unprecedented growth. Let’s take a view.
Total Addressable Market (TAM): A Solution
As a Salesperson or a leader, you may have experienced several challenges in synchronizing the fragmented data. You may have invested time in predictive analytics to increase sales or thoroughly understand competitors to seize market opportunities faster than their approach.
The old model for contact data, sales cycle, and lead generation is outdated or broken. What? Yes, let’s make it clear: According to the Accenture report, around 63% of companies cannot identify emerging market opportunities. But here’s a solution: Understanding TAM enables businesses to maximize their revenue potential if they capture 100% of their target market opportunity. It helps companies understand their full growth potential.
- Identify the targeted market’s maximum revenue size.
- It highlights the most prioritized customer segment for targeted reach.
- It helps in business expansion in new regions or industries.
- Win investor trust by attracting them by showcasing their growth potential.
Hence, it’s crystal clear that TAM is the best solution for revenue generation. Applying methods to business can increase sales and create lasting growth.
What are the Funnel’s limitations, and why does it need to change?
Thinking it difficult to understand? Let’s make it simple.
Imagine, you are a sales representative of your team, spending hours on LinkedIn to find the right prospect from the right market.
And, you have crafted a well “personalized” email that resonates with your buyer persona and the solution the business offers. After this, hope for a few meetings is like a hard work result. But the funnel needs more from you. It requires you to wait for the final result. All your potential leads will go through the funnel, where they will be categorised as win-win deals or lost deals- just like the paper wrapped in a rusting almirah for years.
You know, these closed or failed deals are not just the deals, they are the revenue killer. As per the Harvard Business Review, acquiring new leads costs businesses more than reactivating the old ones. But, in funnel methodology, prioritizing new leads comes first, and neglects the effort for past prospects or existing customers.
You know, this entire process lost something most valuable for you.
Think about it, your lost prospect, with a change in circumstances, might change job, their company might secure funding or they might evolve. The tradition funnel can’t check their dynamic reality.
Funnel To Goldmine: Identity and Converting High-Value Customers
Targeting potential prospects using an outdated method feels like finding a needle in the ocean, wasting time and money.
However, using a lake strategy, a goldmine of B2B leads consisting of active leads, existing customers, and previously lost prospects, makes the lead generation process easier than traditional methods. These leads are interconnected and represent your entire TAM, allowing you to target dynamic clients.
Let’s make it simple with a simple, your sales department did their best to convince a client to buy products, but they weren’t ready to buy that time. But with a new and modern approach, you will be able to know when your lost prospect –
- Change in Sales Strategy – With the change in the sales process and its strategies, turning leads into a revenue machine will be easier than before.
- Investment News – Notification on each secured funding, indicating an increase in the company budget.
- LinkedIn Engagement – The prospective engagement on posts or published content by your company signalled renewed interest.
These alerts or signals, powered with AI and comprehensive contact data, increase your chance of conversion.
Find Prospect With AI-Powered Contact Data
This new modern approach helps businesses to identify the enriched contact data, which boosts conversion rate, and overall growth for the business. Tools like the Sales Fuel Chrome extension become crucial for B2B and B2C leads.
Didn’t understand, let’s take a journey, Sales fuel data extension enables you to keep all the saved contact information accumulated from different companies and industries into a synchronised platform. It also gives a competitive edge to your team to prioritize outreach efforts by personalised messaging, increasing conversion rates.
How Sales Fuel Data Increase Conversion Rate –
- One in for all Data – Integrate all your contact data information into a single platform. This helps your marketing, sales, and CS team to have a unified view. Enriched data by applying filters, get leads with the highest potential.
- Professional Information – Imagine how easy it would be to turn leads into revenue with access to contact information, such as phone numbers and professional email addresses, of top industry influencers, executives, and employees with similar designations. The Sales Fuel Data extension provides all this information.
- Manage Save List – manage all your searched prospects anytime, anywhere, and analyse them to turn them into revenue with just a click.
Conclusion –
The shift from the traditional funnel strategy to new strategies is more than a structural change. It’s a fundamental shift in how we approach the market. By using comprehensive contact data, and focusing on TAM, your efforts for generating leads get a boost.
