![]() During the qualification stage, an SDM (sales development manager) usually reaches out to a prospect to understand their specific pain points and gauge if the prospect’s company falls within their ICP (ideal customer profile). Discovery involves researching the background of the prospect and their company, which helps a salesperson deliver a customized and relevant pitch later in the sales cycle. The top of the funnel covers the discovery and qualification stages of the sales cycle. As we delved deeper into each part of the funnel, we spent time mapping each segment and understanding the processes and nuances involved, as well as the specific pain points faced by B2B SaaS sales teams. This funnel can further be divided into three sub categories – Top of the Funnel (TOFU), Middle of the Funnel (MOFU), and Bottom of the Funnel (BOFU), with each sub category representing how advanced a lead is in the sales journey. Once a lead is generated, it enters the sales funnel. Given the likelihood of this digital shift continuing in the long term, it has become important for B2B SaaS companies to take a deeper look into their tech stack and arm their sales teams with the best possible tools to enable them to close more deals and close them faster. A McKinsey study indicated that going remote could help sales reps reach four times as many accounts in the same amount of time and generate up to 50% more revenue. In addition, a remote first model allows sales teams to spend more time actually dealing with customers instead of spending hours on the road traveling between meetings. Sales processes switching from in-person to digital offers a wider pool of potential customers, and although this comes with the caveat of increased competition, a hubspot study has shown that 64% of sales leaders who invested in remote selling met or exceeded revenue targets in 2020. The transition to a remote model also offers several advantages to B2B sales teams. 70% of B2B decision makers say they are open to making new, fully self-serve or remote purchases in excess of $50k, and 27% are willing to spend more than $500k+. In addition, B2B buyers have also started to show comfort in making large new purchases and reorders online. Customers have enjoyed this speed and convenience, with data showing that 70-80% of B2B decision makers prefer remote interactions or digital self-service. Self-serve and remote interactions have made it easier for buyers to get information, place orders, and arrange service. Research from McKinsey & Company highlights the growing preference of both buyers and sellers to continue to operate in a virtual manner, and suggests that only about 20% of B2B buyers hope to return to in-person sales. While the digital nature of sales started off as a compulsion shaped by the pandemic, recent signs point towards the likelihood that the digital shift is here to stay. What has further added to the complexity of each of these challenges, has been the digital shift in the B2B sales landscape. B2B SaaS sales teams often come across several challenges owing to the intricate nature of products, difficulty in qualifying leads, long sales cycles, and multiple buyer side stakeholders, amongst others. Although the overall sales journey has largely remained the same over the years, the space has still seen a significant amount of tech innovation aimed at simplifying or automating parts of what is a highly complex process. B2B SaaS sales focuses heavily on generating and converting new leads.
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