Rising Inflation in the B2B Industry
The B2B industry is currently experiencing a significant inflationary period due to the state of the economy. This has resulted in brands facing challenges such as shrinking marketing budgets and intense online competition.
In a recent episode of GTM Innovators, Latané Conant, CMO of 6sense, and Mike Weir, G2 Chief Revenue Officer, discussed how generative AI and intent data can help reduce B2B inflation. By leveraging these technologies, sales and marketing teams can come together and drive sustainable revenue growth.
Addressing B2B Inflation
According to Latané, inflation is inevitable in the B2B software sector given the current economic environment. Failing to achieve targeted deal numbers can have a negative impact on ROI and team morale.
Latané uses the analogy of buying milk and eggs to explain the impact of inflation. Just as paying $300 for groceries that should cost $75 feels unfair, B2B inflation is a concern worldwide. However, Latané suggests that even with limited budgets, brands can improve win rates and find profitability by segmenting and analyzing customer personas, personalizing sales approaches, and analyzing lead activity.
Quick Tips to Combat B2B Inflation:
- Understand the current sales and marketing process.
- Analyze successful strategies and use actionable metrics to drive results.
- Focus on engaging contacts and driving conversions.
Optimizing the Sales Cycle with Intent Data
Latané highlights the challenges of account prioritization and engagement in the sales cycle. To address these challenges, 6sense uses intent data to prioritize leads and run automated campaigns.
By focusing on high-intent leads with low reach and deprioritizing low-intent leads with unknown reach, 6sense has achieved impressive results, including penetrating 700 accounts and increasing engagement rates by 50%.
Latané encourages organizations to develop their own go-to-market (GTM) models based on their business structure and goals.
Harnessing Generative AI for Content Engagement
Latané explains how AI tools like ChatGPT and Google’s Bard can optimize outbound sales processes. At 6sense, ChatGPT has been successfully integrated into email marketing, blog creation, and chatbots while maintaining a focus on human connection and empathy.
While AI can enhance BDR productivity, Latané advises keeping automation to around 10% of the workload to avoid negative outcomes.
Advice from the Expert
Latané suggests that 10% of the sales pipeline should always be automated. This portion consists of prospects who require immediate next steps rather than extensive guidance. The remaining 90% provides opportunities for optimization, focusing on existing pipeline engagement, website conversions, and search engine optimization.
The Role of BDRs in the Sales and Marketing Lifecycle
BDRs play a crucial role in winning business, and developing personal connections with prospects can enhance their effectiveness. While AI tools can assist with tasks such as email writing and automation, BDRs must still add personalized touches to AI-generated content.
Despite leveraging generative AI for content creation, sales professionals should prioritize identifying prospects’ immediate needs and delivering tailored engagement.
Key Strategies for Cold Contact Engagement:
- Focus on nurturing leads rather than just generating them.
- Understand what it takes to close deals and analyze buyer behavior.
- Utilize generative AI tools to scale content creation.
Latané advises embracing change and leveraging smart technologies to work smarter and adapt to the evolving market. By establishing a symbiotic relationship between humans and technology, brands can drive growth and efficiency.
Other Insights from Latané:
In episode 9 of GTM Innovators, Latané Conant shares additional valuable takeaways, including:
- How BDRs are transitioning from traditional messaging to conversational email handling.
- Maximizing SEO value through AI automation and dominating search engine results.
- The impact of generative AI on mergers and acquisitions.
For more insights from Latané and other GTM experts, watch the full episode on YouTube and subscribe to the GTM Innovators podcast on platforms such as Spotify, Apple Podcasts, iHeartRadio, and Amazon Music.
