Use Good Data to Overcome These 4 Tough B2B Sales Challenges

B2B sales and marketing can sometimes feel like trying to navigate a maze blindfolded—there are twists and turns, dead ends and unexpected obstacles. And to make matters worse, the current economy has brought a slew of new hurdles.

In today's challenging economic climate, here are four of the top challenges B2B sales teams are facing and why good data matters:

• Economic Uncertainty: With ongoing global economic changes, many businesses have tightened the reins on spending, forcing sales and marketing teams to drive business and generate revenue with a smaller budget and, as a result, fewer resources. The 2023 State of the BDR Survey, a study by 6sense shared via MediaPost, reports that many business development representatives (BDRs) are struggling – they're getting less support and fewer leads with the same high expectations. Only 64% of BDRs polled feel supported, down from 76% last year. 

With a limited budget, resources need to be used wisely. So what do BDRs want most? Of the BDRs surveyed, 71% said that better contact data would be in their top two choices for increasing productivity and 70% want improved intent data.

• Changing Buyer Behaviors: The pandemic has fundamentally changed the way buyers approach purchasing decisions: they are now much more likely to conduct extensive research and they prefer virtual or self-service options. As a result, sellers have had to adapt accordingly to give buyers the information they want when they want it, ideally before they even ask for it. B2B sales and mind reading are not that different from each other in the current sales landscape. Unsurprisingly, not all sellers are succeeding.

A recent study by Databook also shared on MediaPost, indicates that many marketing emails aren’t cutting it for buyers. Two-thirds of buyers surveyed feel the emails they get are too robotic, with 37% saying they strongly agree. And they don’t have the information they need to make a decision: the study points to the need for sellers to share more financial data in the process. From the seller’s perspective, “91% report they are more successful when they can solve complex business problems for potential buyers.” But they’re facing their own challenges, with 25% reporting they lack the tools and resources to do so.

 

• Lack of Personalization: Some B2B sales teams are still using a one-size-fits-all approach, which doesn't resonate with today's buyers, who expect personalized experiences and solutions. Accurate and complete data—such as multiple contact fields, demographic and firmographic data—can give sellers the information necessary for greater personalization. Additionally, intent data can help sellers better understand the behavior and interests of potential buyers. By analyzing online activity such as website visits, content downloads and social media engagement, intent data can reveal the topics that potential buyers are most interested in, allowing for a more tailored sales approach. Intent data can also help sales teams prioritize leads based on their level of engagement, so they can focus their time and resources on the most promising opportunities.

 

• Difficulty Reaching Decision-makers: Many B2B sales teams are struggling to reach decision-makers due to job shifts caused by the Great Reshuffle and other personnel changes. This has made it more difficult than ever for sales teams to reach the right decision-makers, as in many cases, the contact information on file is outdated or incorrect. B2B teams need to invest in high-quality data and prioritize data hygiene. This means regularly cleaning and updating their prospect database to ensure that it is accurate and up-to-date.

 

From economic uncertainty to changing buyer behaviors, it's no easy feat for B2B teams to close deals and generate revenue. Good marketing data is crucial for sales teams and business development representatives, especially as they are being asked to do more with less. By using data to inform sales strategies, B2B sales teams can overcome many of today’s challenges.

Please connect with my team if you’d like to discuss how we can empower your sales teams with high-quality data that reaches the right decision-makers and drives sales and customer acquisition.

OMI’s high-quality B2B business contact data comes with a 95% email validity guarantee. Fortune 1000 firms and start-ups use our data to drive modern digital marketing initiatives—including intent monitoring, email marketing, ABM and omnichannel campaigns utilizing display, social media, and more. Reach out to our team today for more information.