Signal-Based Selling: The Future of B2B Sales in 2024

The Need for a New Approach

Traditional sales tactics are losing their effectiveness.

With only 5% of potential customers actively considering a purchase at any given time, sales teams need a more targeted approach.

Enter signal-based selling, a strategy that's revolutionizing B2B sales, especially for those selling boring B2B products.

What is Signal-Based Selling?

Signal-based selling focuses on identifying and responding to buying signals.

These actions and behaviors show a prospect's interest and readiness to buy.

Sales professionals can prioritize high-potential opportunities by leveraging these signals, and move away from ineffective "spray and pray" tactics.

Real-World Results: The Power of Signal-Based Selling

Companies implementing signal-based selling have seen impressive results (Source: HubSpot):

• A Series C Enterprise SaaS company decreased sales cycle times by 30% and increased conversion rates by 20% within six months of adopting signal-based selling.

• A Financial Consulting Company identified 25% more cross-selling opportunities and improved client retention by 15% over one-year using signal-based approaches.

These case studies demonstrate the tangible benefits of this strategy in diverse B2B contexts, even for those selling boring products.

Top 5 Buying Signals to Watch in 2024

Here's a curated list of the most impactful signals, ranked by importance:

1. Former product users, champions, or economic buyers landing new jobs

2. Company news such as funding rounds or acquisitions

3. Job changes or new hires in relevant roles

4. Adding or removing technologies from their tech stack

5. Visiting pricing or product pages on your website

Tools for Effective Signal-Based Selling

Several tools can help sales teams identify and act on buying signals:

1. Dimmo: Specializes in tracking job changes and company news, alerting you when key contacts move to new roles or companies.

2. 6sense: Provides AI-powered insights on buyer intent and behavior, helping you identify which accounts are in-market and ready to engage.

3. G2: Offers valuable data on competitor comparisons and product interest, allowing you to see when prospects are researching solutions like yours.

4. UserGems: Tracks customer job changes and identifies new opportunities, helping you maintain relationships as contacts move between companies.

5. Cognism: Provides real-time company and contact data for prospecting, enabling you to quickly identify and reach out to potential buyers showing interest signals.

These tools use AI and machine learning to analyze vast amounts of data, helping sales teams identify patterns and predict buyer behavior more accurately.

Implementing Signal-Based Selling: Best Practices and Challenges

Best Practices:

• Align sales and marketing teams around key signals and responses.

• Invest in training to help teams interpret and act on signals effectively.

• Regularly review and update your signal criteria based on performance data.

• Integrate your chosen tools with your existing CRM and sales engagement platforms.

Challenges:

• Data overload: Focus on the most relevant signals for your business.

• Technology adoption: Ensure proper training and support for new tools.

• Balancing automation with personalization: Use signals to inform, not replace, human judgment.

For those new to sales, check out our guide on the best sales training resources for beginners to help you get started with these practices.

Beyond Reactive Signals: The Proactive Approach

While reactive signals are valuable, engaging prospects proactively is fundamental.

This means reaching out to potential buyers before they've even identified a need for change.

As you initiate conversations early, you can:

• Shape the prospect's perception of their challenges and potential solutions

• Position yourself as a trusted advisor rather than just another vendor

• Influence the buying criteria in your favor

This proactive approach allows you to be part of the conversation from the very beginning, giving you a significant advantage over competitors who wait for obvious buying signals.

For tips on how to book meetings with B2B executives, check out our consultative sales guide.

The Future of B2B Sales

Signal-based selling represents a significant shift in B2B sales strategy.

Sales professionals can overcome the challenges of a buyer-driven market more effectively by focusing on meaningful buying signals and engaging prospects early.

As the B2B landscape evolves, those who master this approach will find themselves at a significant advantage, whether working in traditional office settings or remote sales jobs.

Ready to Take the Next Step?

Start by identifying the most relevant buying signals for your business and exploring the tools that can help you track them.

The key to success is not just gathering data, but acting on it strategically and proactively.

Check out our weekly roundup of top remote sales jobs and stay updated on the latest trends in remote sales opportunities.

Additional Resources

If you're looking for specific sales training programs, many professionals in the field recommend courses by renowned experts like Brian Tracy.

These programs offer practical, results-oriented approaches to improving your sales skills.

We hope that helps,

Sales Career Hub