Introduction

The B2B CRM is the tool which is designed specifically for managing the longer sales process and involving many decision-makers, rather than being a basic contact manager which is good enough for transactional sales.

While it may not sound complicated at first, the number of participants and steps in a regular B2B deal will make it very hard for businesses to configure properly.

Why B2B Sales CRMs Are More Complex Than They Appear

A B2B sales cycle does not involve one uniform process, but rather involves a composite sales cycle that consists of the following:

• Many contacts within one target account
• Processes involving many stages of approvals and purchases
• Sales cycles that may take several weeks and even months

There are companies that have set up their CRM to work on contacts level and not account level. This makes it difficult for them to know how the deal is moving forward.

In the case of a company targeting bigger firms, the account structure must be designed differently per each transaction because in most cases, one contact is not the entire buying committee.

Major Areas of B2B Sales CRM Functionality

Account and Contact Hierarchy

Rules governing:

• Rules covering:
• Linking several contacts to one account
• Recognizing the functions of people in the buying group
• Understanding the relationship between parent and subsidiary companies

Risks of Contact-Only Tracking

The tracking of only contacts is one of the most common and expensive holes that can cause:

• Loss of awareness due to a change in job functions
• Missed chance to reach out to other parties
• Negotiations getting stalled due to lack of awareness about the others involved

Pipeline and Stage Management

Most B2B sales CRMs provide customizable pipeline stages that compel salespeople to follow a common process based on how deals go through procurement.

Pipeline Configuration Often Includes

• Definitions of stages matching the buying process
• Fields or actions needed to advance a deal
• Probability weighting by stage for forecasting

Sales Engagement and Sequencing

Handling involves more than just personal engagement and outreach; it also includes increased use of sequences that are structured and involve multiple touches, aimed at the longer nurturing process in B2B.

Sales Sequences Usually Include

• Touches prior to deal going live
• Personalization through account research
• Co-ordination of multiple reps touching the same account

Forecasting and Deal Health Tracking

Typical CRM for B2B sales includes:

• Risk signals based on engagement or lack thereof
• Categories in forecasting depending on closing confidence
• Historical win rates depending on deal attributes

Accuracy of such tools varies depending on consistency of deal information updating by reps.

Integration With Marketing and Customer Success

Various CRMs used for B2B sales have to work in concert with other teams, which include:

• Handing off marketing-qualified leads process
• Visibility to customer history after the sale
• Consistency of account ownership throughout the customer journey

This has to happen because B2B sales go well beyond just the transaction itself.

Why B2B Sales Processes Break Down Even With a CRM in Place

Inaccurate deal tracking of complicated B2B deals is rarely an issue as a result of the sales team ignoring the CRM.

Indeed, this may occur since:

• Sales reps enter stages of deals in an inconsistent manner, leading to inaccurate forecasting.
• Incorrect account structures are used to overlook important players in the account.
• There are no rules for handovers among marketing, sales, and customer success teams.

How Organizations Build Effective B2B Sales CRM Workflows

Modeling the Real Buying Process

Larger companies will need to diagram the real-world procurement and approval process first, more specifically when it comes to enterprise sales which span different departments.

CRM Features Supporting Complex B2B Deals

There are several B2B CRM software solutions that allow organizations to:

• Manage several contacts and their positions at one account
• Identify inactive deals
• Unify stage criteria to increase forecast accuracy

Regular Pipeline Reviews

Organizations perform periodic assessments of:

• Accuracy of deals by their respective stages within the sales department
• Comparison of forecast and actual closure rates
• Coverage of accounts by the entire buying committee

The purpose of conducting periodic assessments is to ensure that the information entered into CRM is accurate enough for forecasting purposes.

Common B2B Sales CRM Mistakes

Tracking Contacts Instead of Accounts

Lack of structuring of the CRM system with regard to buying committees.

Inconsistent Pipeline Updates

Reps are allowed to update stages of deals irregularly, causing inaccurate forecasting within the sales force.

Ignoring Stalled Deals

No notification on deals that haven’t had any action recently.

Poor Handoff Documentation

Lack of proper transition of:

• Context when the deal transfers from marketing to sales
• History of account when the deal is closed and transferred to customer success
• Relationship ownership as people move within the teams

Can cause loss of context and fragmentation of the customer experience.

Bottom Line

The B2B sales CRM setup can vary greatly and includes a range of aspects such as hierarchical accounts, managing pipelines, sales process, forecasting, and alignment of teams.

Given the fact that there are many parties involved and many stages within a regular B2B deal, it will be better for the company to create a CRM setup based on real accounts rather than just contacts.