3 Tips to Use B-to-B Purchase Behavior to Improve Sales Performance
The following three tips will help ease B-to-B reps pain and help them find prospects with a high GTR ratio.
1. Learn Your Prospect's Purchase Behavior: Use newly available B-to-B purchase behavior data-what companies buy and how their spending patterns change over time-to determine if they have a high propensity to buy products like yours. If they do, call them! If they don't, move on.
2. Build Purchase Behavior-Based Buyer Personas: Knowing your prospects' purchasing behaviors-what they buy-will enable you to build purchase behavior-based profiles and easily find other companies that match the profile. Purchase behavior-based profiles use what companies buy as their foundation while other forms of persona development are based on less effective, demographic information.
3. Add "Propensity to Buy" Fields to CRM: Add new purchase behavior-related fields to your CRM system, which enables you to gauge your prospects' propensities to buy your products. A high, medium and low range would be a great start. You can also add a field for the amount the prospect is spending on your class of product and indicate if the spend is increasing or decreasing. This will enable you to sort you target companies by their propensity to buy.
At the end of the day, prospecting takes time and research. But if you have the right information to provide insight into the prospect's purchase behavior and propensity to buy, then you just might be surprised at how much more efficient prospecting can actually be.
Gary Brooks is the CMO of Cortera. Reach him at firstname.lastname@example.org.