The B2B marketplace has evolved rapidly in recent years due to various global factors, with the pandemic and economic turbulence being the top drivers.
As a result, there has been a notable change in both marketer and buyer priorities in recent years.
Speaking with our clients and partners, I have observed that in 2024, marketers’ top priorities have shifted from personalized outreach to generating sales-ready leads and driving pipeline opportunities.
This likely results from a more evident objective of proving return on investment (ROI), and pressuring marketers to effectively guide prospective clients through the discovery and purchase journey more efficiently.
However, this focus is understandable given the benefits of a stable pipeline with middle (MOFU) and bottom (BOFU) of the funnel leads.
Not only does it offer a consistent avenue for sustained growth, but it also allows sales teams to capitalize on the best opportunities for conversion.
In this guide, I present playbooks we implemented at INFUSE and recommend for B2B organizations in 2024 to effectively address the most common MOFU and BOFU pain points to increase conversions.
The increasing complexity of the buyer’s journey – a result of buyers taking a largely defensive position in an effort to de-risk their portfolios – has resulted in expanded B2B buying committees, extended sales cycles, and more discerning buyers across buying committees of organizations of all sizes and complexities.
This shift is unsurprising, considering that 83% of buyers initiate first contact with vendors. It suggests that sellers learn about buying processes on the buyer’s terms.
Buying committees are also increasingly younger, with many now comprising Millennials and Gen Z. These generations demonstrate unique buying behaviors compared to their predecessors; they are more independent, tech-native, and display a greater need for autonomy in their client journeys.
In fact, research shows that approximately 70% of the buyer’s journey is now done completely independently, without ever engaging with sales.
These young buyers have also prioritized cloud purchases, particularly due to the effortless integration of low/no-code solutions that allow organizations to build on their purchases in their own time as resources allow.
Below is a list of the four most common middle-of-the-funnel pain points and strategies to address these challenges:
Conversions often stall due to a lack of understanding of the key needs buyers face in MOFU, as well as identifying the right timing and messaging to increase velocity to the bottom of the funnel.
Below are four tactics to address this pain point effectively:
Ensure that prospective buyers are correctly segmented throughout their buyer’s journey.
Adjust targeting as their pain points and goals change to ensure aligned messaging. This can be streamlined with the use of data analytics tools to identify and categorize audiences based on their unique behaviors.
It is normal for prospective clients to move freely in their buyer’s journey, often skipping phases or going back to research as needed.
Be sure to continually assess their position using behavioral data and other feedback mechanisms to ensure they receive the correct nurturing for their funnel stage.
Set up regular feedback loops via surveys, focus groups, and social listening tools to gather insights.
These can be used to make adjustments and optimize nurturing to target buyers at the right time with relevant messaging on the platforms or channels they frequent.
GTM models act as a blueprint for molding an organization’s frameworks.
This involves determining target buyer personas, establishing interdepartmental data processes, and coordinating efforts to ensure a seamless revenue cycle.
Often, organizations have several GTM motions running simultaneously, which can be beneficial to accelerate velocity with certain buyer segments, hone in on the right product-market fit, or test a new market or solution.
Budgets will consistently remain a focal point, particularly in a time of high expectations – not only for vendors, but internally within organizations and buying committees.
Committee members are tasked with making carefully considered purchases that yield tangible returns, underscoring the importance of budget consciousness.
Below are three tactics to address this pain point effectively:
When buyers receive content or messaging that is not relevant to their pain points, role, or stage in the buyer’s journey, it diminishes their interest and trust in the brand.
In fact, 47% of buyers reported that the key driver behind opening emails was relevant messaging.
Below are three tactics to address this pain point effectively:
Buyers utilize more channels than ever, with the majority engaging with brands on 10 or more channels.
This trend is evident in current B2B buyer behavior, as prospective clients consult a variety of sources before making buying decisions. As a result, organizations that rely solely on single-channel engagement risk overlooking crucial audience segments.
Below are two tactics to address this pain point effectively:
Below is a list of the three most common bottom-of-funnel (BOFU) pain points and strategies on how to address them:
Considering the increased scrutiny of buyers in the current landscape, it comes as no surprise that most buying committees will seek to compare your solution with multiple competitors.
This highlights the importance of establishing key differentiators and demonstrating how your solution best supports your buyers’ business growth and objectives.
In fact, brand equity – as a precursor and counterbalance to full-funnel demand generation – is a critical element of a solid business strategy. Research shows that 84% of deals are won by the first vendor a buyer contacts.
This first contact requires companies to have comprehensive brand-to-demand strategies in place, to ensure they are first on their buyers’ minds.
Below are three tactics to address this pain point effectively:
Amidst the challenge of managing bloated tech stacks, integration has become a key concern. 35% of executives reported their legacy software was rigid, expensive, and difficult to use.
Buyers actively seek tools to solve new business challenges while navigating integration requirements.
In addition, the B2B landscape has embraced the advantages of incorporating generative AI into day-to-day operations, as demonstrated by the fact that 73% of marketers were already leveraging generative AI, just six months after the release of OpenAI’s GPT4.
Below are three tactics to address these pain points effectively:
Due to the democratization of technology, the rise of low-code/no-code solutions, and the increasing tech-savvy Millennial and Gen Z buyers, sellers now require a more solution-oriented approach, equipped with technical knowledge.
By the time buyers are ready to meet with sellers (typically 70% or more into their purchasing journey), they often have detailed technical inquiries and may no longer require the high-level discussions that vendors are traditionally accustomed to.
Meeting buyers where they are has become a fundamental requirement.
Buyers are increasingly pressured to achieve ROI goals, making this a recurring concern among those seeking information on how solutions can assist them in reaching their performance objectives.
Below are two tactics to address this pain point effectively:
Lead nurturing and engagement tactics should always be tailored to address the pain points, challenges, platforms, and context of your buyers at their current stage in the sales funnel, ensuring relevance and effectiveness.
In the B2B landscape, where technology is becoming increasingly democratized, it is crucial to consistently evaluate and refine your strategies, such as prioritizing low/no-code approaches, to stay updated with industry trends.
To fuel your GTM strategies with iterative approaches and data-driven insights, establish protocols for testing and optimization.
Continuously analyze performance metrics, refine tactics based on feedback, and foster collaboration across teams to ensure relevance and effectiveness.
Given that each buyer’s challenges, needs, and readiness to purchase will frequently shift, ensure that you are closely monitoring their behavior triggers to optimize nurturing activities.
More resources:
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