Signal-Based Marketing and Sales
If you are involved in sales, you’ve probably noticed that it has become a bit more challenging in 2023. Conversion rates are declining, previously successful strategies no longer yield the desired results, and customers are paying more attention to their budgets, among other things. For this reason, more and more companies are implementing signal-based marketing and sales.
What is signal-based marketing and sales?
Traditional cold calling used to be relatively straightforward: you defined a target audience interested in a particular product or service and tried to reach that audience in belize phone dataset some way. Take, for example, email marketing:
In the 1990s and 2000s, sending a mass email to the CEOs of 10,000 companies would yield good results. Then, everyone started doing the same thing. This led to the introduction of personalization. Marketing experts began personalizing emails, addressing them as “Dear Mr. <Name>… Does <Company Name> need the XY product or service?” Eventually, this too became the standard.
Additionally, a vast number of marketing experts are reaching how we increased our leads by 234% in 2023 entirely wrong target groups, resulting in a flood of emails that no one paid attention to, not even the relevant ones.
The same goes for LinkedIn, cold calls, and so on. The GDPR and competition laws further complicate the task.
This is where signal-based marketing comes into play. Customer engagement in signal-based marketing is based on specific signals coming from the target company and bosnia and herzegovina businesses direct… the target person.
Examples:
Company XYZ recently changed its address, so it is highly likely that the company needs certain office equipment.
Startup Unicorn AG just completed a new funding round. They need to fuel their growth, so they will likely invest in sales and marketing. This is perfect timing for companies offering products or services in this segment.
Schmidt recently changed jobs, and he was the decision-maker who “sold your product to the management” in his previous company. Therefore, chances are he will do the same in his new company.
There are numerous such examples. The task of management, particularly in sales and marketing, is to identify and capitalize on these signals.
Selling to the 3%
A well-known sales wisdom states that at any given time in any market, there are 3% of companies or individuals who are ready to buy a product. If you ask 100 random people on the street if they are currently thinking about buying a car, 3 people will say they are actively searching. Another 10 will say they are seriously considering it but it might take a while. The rest are either not interested, undecided, or already taken care of. The same goes for other industries and products: HR software, MacBooks, coffee machines, or yoga classes.
Who do you want to sell to? Companies that are already taken care of? Or have no budget or show no interest? Or rather to the 3% + 10% who are currently looking for your products or services? I think the answer is clear.
But how do you identify these 3%? The examples and technologies listed below are mainly applicable to B2B (like our entire blog and software).
