Growing a B2B company is challenging. Especially for those selling digital goods, such as SaaS (Software as a service), that requires a dedicated sales organization. Most, couple both inside SDR (sales development rep) that solely focuses on outbound prospecting, with Sales Executive that outreach these leads, to make the sale.
Efficiency and cost savings were implemented for selling physical goods directly to both consumers (B2C) and businesses. Today such products are sold via online stores such as Amazon, Apple App Store, Google Play and Alibaba, eliminating the need for a sales organization.
In contrast, selling digital products to businesses (B2B) does require a sales organization. Thus, maintaining high CAC (Customer Acquisition Cost) for a typical SaaS company. The faster such a B2B company tries to grow, the more expensive its CAC is.
Today, efficiency for B2B selling has only improved marginally by variety of technical tools. Most targeted improving the efficiency of the SDRs by outbound sales dialers, and automating both leads generation and marketing activities.
Marketing Automation has become one of the fastest growing segments of enterprise software worldwide. With over 5,000 providers (Chiefmartec – May 2017), it is often perceived as the best answer to scaling B2B customers’ acquisition.
Unfortunately, in reality most platforms simply automated spam over email and social media channels – providing marketer with ever-diminishing returns.
Lately marketers employ smart marketing Bots. They drip emails, ad-clicking, comment to posts, send friend invites and respond to customers more precisely and timely. Bots are good at servicing a customer, with their repetitive answers and functions. But the mechanical response of Bots for sales, just influence a minority of the targeted audience. Bots don’t create engagement with the majority since relationships between people can only be built on trust. Automated platforms that spam emails and Bots with repetitive functions have failed to build trust.
The fact is that businesses can only grow at the speed of trust. That’s the reason why 84% of all B2B deals start with a referral (Harvard Business Review)
But how to scale trust, when 150 interpersonal relationships is the upper limit of a person’s trusted circle (the “Dunbar Number” according to Anthropologist Robin Dunbar).
Professional networking has become more like a video game where the users are amassing connections like points, trying to top the leaderboard, instead of making meaningful connections.
As a result, most LinkedIn users are regularly connected with people they are hardly know and not sure even why.
The reality is that business networking loses its authenticity and is promulgated with professional spam. LinkedIn inboxes are flooded with messages from biz dev people hawking irrelevant information.
That’s why online networking works only if it leads to building authentic relationships offline. Platforms like LinkedIn may help making introductions, but it doesn’t go far enough to matter.
The answer is in the creation of an ever-expanding automated Relationship Network that continually finds trusted connections to link multiple trusted circles together.
Referral-AI is a Trusted Sales Acceleration platform. An automated Relationship Network to reach targeted people, by discovering trusted 1st Degree Referrals to reach these target people.
Referral-AI platform reduce:
- CAC (Cost of Acquiring a Customer)
- Sales organization headcount
- Cold Calling
- Spam sent over email and social media
- Barrier of service by location