Buying Signals: 4 Ways to Respond to Customer Buying Behavior in 2022
“A recent report indicated that buyers are 67% more likely to accept a meeting if the pitch is customized to their situation”.
In a market full of service providers and buyers looking to upgrade constantly, personalization is the key to incredible B2B sales in 2022. Personalization can be achieved only if service providers understand their buyers better than their competitors. This is where the role of buying signals takes the stage.
What are buying signals?
Actions prospective buyers take that indicate their buying behavior or a purchasing decision are called buying signals. Buying signals are highly relevant to B2B sales teams because they can help you nurture the most promising leads, save time on research, and close quality deals.
In 2022, B2B sales teams that swoop in and provide the buyer with timely and relevant content would always be a step ahead of the competition’s traditional sales processes.
B2B sales can be incredibly frustrating if sales teams don’t know who to approach and how likely they will accept the offer. Most of the time, sales teams approach the wrong prospect resulting in the rejection of the product offer. Understanding the prospect, their behavior, their influence on the company and deals is essential before approaching.
Let us explore how to respond to buying signals to close better deals in lesser time.
How to Respond to Buying Signals
Getting access to a buyer’s intent data can help sales teams understand where B2B decision-makers are in the buying process. With that information, they can approach their lead with a stream of exciting products that suit their specific needs.
Identify new Prospects and Opportunities
The intent signals help you determine who’s looking for your solution (or the competition’s)- before they fill out your lead-generation forms or interact with your sales reps. This takes the guesswork out of who to target in your campaigns resulting in qualified leads for the sales teams they can close sooner.
This not only saves time but also resources spent on the wrong lead. Imagine if we can divert all of our resources and time towards those identified prospects that are bound to close for us and drive quality business.
Target Quality Leads over Quantity
Predictive data provided by modern sales intelligence tools let you prioritize companies that show genuine interest and purchasing intent. Minor actions such as your ideal prospect visiting your website a few times and downloading a whitepaper indicate their buying behavior. We can further break this behavior down and understand who genuinely wants to purchase our product.
By tapping into the intent data, sales teams can track the prospect’s activities, visualize their outsourcing footprint and make a timely call.
Turn Dormant Opportunities into Possibilities
It is possible for some promising leads to not close, but it is imperative to hold onto those leads. The reason being we can always re-engage dormant opportunities. We have to identify
what buying signals are they giving off, maybe they want to renew the connection and close the deal?
Maybe the prospect didn’t need your product earlier, but their buying behavior today indicates they need your product. Before they are approached by your competition, it’s essential to approach them with a hyper-targeted pitch that solves their problem.
Retain and Excite Existing Customers
It is likely that your existing customers can turn into your most valuable group for recurring purchases. By analyzing buying signals, you can create up-sell opportunities and keep them hooked to your product. This intent data can also help you identify issues that might cause a customer to switch to your competition. If your sales teams know how the customers feel about your brand, they can approach them before it’s too late.
When you tune into your prospects’ behaviors and intents first, you position yourself to provide timely, highly focused marketing and sales service.
With buying signals, your sales team can catch their attention, predict their pain points, lower their resistance and finally, win the sale.
Sales intelligence platforms like Draup help your sales teams build hyper-targeted prospect lists by filtering through the most relevant buying signals of today. Draup’s 360-degree view is built using machine learning models and validated by a team of expert analysts, ensuring data integrity and relevance.