B2B experts unveil factors behind long sales cycles, strategies to shorten them
By Zion Rufus
B2B marketing professionals have shed light on a prevailing challenge for companies—long sales cycles, which in their varying opinions, results from their go-to-market strategies.
According to the marketing experts, the conventional approach often revolves around generating leads, leaving the burden on the sales team to persuade reluctant buyers.
Where some emphasized that the true remedy lies in shifting the focus towards engaging buyers who are ready to make a purchase, others stated that by understanding the dynamics at play and implementing strategic changes, companies can significantly decrease their sales cycle length.
An UnboundB2B research also found that a shorter sales cycle not only benefits the sales team, but also the customer. The research further showed that by reducing the time to close deals, companies can provide faster solutions to customer pain points, which can lead to increased customer satisfaction and loyalty.
“A company’s industry dynamics and buyer persona has a significant impact on its sales cycle length and it all boils down to its go-to-market strategy,” says Onome Umukoro, deputy manager marketing and corporate communications at Mixta Africa (Group).
For her, by developing a strong go-to-market strategy that takes into account the unique characteristics of the industry and target buyer persona, a company can effectively target potential customers and move them through the sales pipeline more quickly.
Onome also buttressed the importance of lead qualification in shortening the sales cycle.
“Lead qualification is literally how we identify the potential of a lead. Lead qualification helps with increased efficiency and improved messaging, which shortens the sales cycle,” she said.
Validating Onome’s viewpoint, Ira Saprilanchuk, a fintech expert also noted that it is important to focus on the quality of leads instead of just the quantity.
“Sometimes it’s not just about the go-to-market, but also about the type of the project and cost. So, partially, it depends on the industry and bp All things matter, but I agree the quality of leads is one of the most important points,” she said in a post.
Also lending credence to Onome’s statement, Stanislaus Martins, President of ADMARP and Regional Meta Director, SSA at Ad Dynamo by Aleph pointed out that an experienced sales manager will always strike a balance between nurturing leads and focusing on people who are ready to purchase, as the move drives a more effective sales strategies.
In Martins’ opinion, “different customers will be at different stages of the sales cycle and those at the bottom will close faster but engaging at the top of the funnel helps to create future growth for the business. There is no guarantee that those ready to buy now will deliver the numbers to keep your business operational.”
“It is true focusing on ready to convert buyers shortens the sales cycle but sales managers should never discount the value of nurturing leads and building relationships with potential new buyers,” he said, adding that long sales cycles can be a result of industry dynamics and in some cases, they may be totally unavoidable.
The sales cycle represents the timeline required to identify potential customers, nurture leads, and ultimately secure a sale. Numerous factors also influence this process, including the demographics and behaviors of the target market.
To shorten sales cycles effectively, Helen Akue, a brands and communications consultant believes a paradigm shift is necessary.
According to Akue, instead of focusing solely on generating leads, companies must prioritize engaging buyers who are actively seeking a solution.
“This entails aligning marketing efforts to attract potential customers who are ready to buy,” she noted, adding that by implementing targeted strategies and leveraging customer insights, companies can ensure that their sales teams are engaging with prospects who have a genuine interest in their products or services.
Kishore D, CEO & VP at Pronix Inc. agrees that by ensuring that the sales team is only interacting with potential buyers who are actively looking for a solution, companies can indeed shorten the sales cycle.
In his submission, D noted however that this approach will require a shift in the marketing and lead generation strategy, with a focus on targeting potential buyers who are in the decision-making phase of the buying cycle.
On his part, Peter Von Burchard, a revenue leader and investor emphasized the importance coordinating across the entire customer experience to ensure value is delivered throughout.
Burchard pointed out that buyers are doing research, learning about brands and considering products in different ways.
“Product, marketing, and sales need to be locked in step, with each other delivering valuable and coordinated experiences throughout the journey. Buyers need to be able to choose their own adventure.”
Jason Lawson, a sales and marketing expert believes this ‘desperately needed’ conversation flips so many current sales & marketing cadences on its head.
“Much of the B2B marketing I’ve seen/experienced is Pipeline Marketing, also known as ‘thinly disguised’ selling efforts to push buyers down the funnel,” he stated in a LinkedIn post. “Then the marketing team will celebrate demo form completions, and not realize that the majority of these have in despite their pipeline marketing, and typically have come in from a 3rd party influence, referral, recommendation or partner. Legendary marketing will focus on buyer enablement and bringing in trusted partners to help influence the buyer at key stages of their buying journey.”
Meanwhile, Melanie Crutchley, director of marketing at Creyos, opined that ‘sceptics’ will argue that the conversation simply changes the goal posts/boundary lines for what counts as a sales cycle — to either include marketing influence or exclude it from the sales cycle.
“But here’s what I’d love for us to talk about more: the negative effect that aggressive outbound sales has on demand for a particular company’s offering,” she said. “Case in point: I’m actually quite a risk-taker and have been known to make a quick purchase or two (mostly in my personal life). However, this is only when I made the decision to engage with sales myself. I’m much less likely to ever buy from a company whose sales people hunt me down out-of-market and stalk me, even if I have an interest in the product/service. Inbound win rates across the board show that I’m not alone in this.”
Meanwhile, Princewill Ejirika, a Growth & Product Marketing consultant thinks the length of a sales cycle has a lot less to do with the go to market strategy, but a lot more with the nature of their product & the dynamics about it.
“Start focusing on having buyers enter your pipeline when they’re ready to buy & sales cycles will decrease dramatically,” he emphasized.
“Talking to buyers who are ready to buy sounds great but seems quite idealistic in my opinion. I think it is important to talk to as many potential buyers, prioritize selling to them based on how ready they are to buy, then nurture them in the funnel till they’re eventually ready to buy.”
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