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Did you know that almost 40% of B2B deals don’t close, as noted in the Challenger’s B2B Buyer Study? According to Gartner, 60% of deals lost are due to non-decisions.
I believe forward-leaning CMOs must have a data insights strategy that separates no-decision as a potential future buying signal from the dead deals. Addressing the hibernating deals is critical to shortening sales cycles.
Whether you’re in sales, marketing, or customer success, a “no-decision” can feel like a punch to the gut, particularly when the team has put their all into landing the deal.
Proding the customer for answers can go two ways: either you’re ghosted, or your Account Executive has a great customer relationship and may get an answer, which may still not be satisfying.
The reasons for a non-decision can include:
💰 Lack of budget or reallocation.
🔄 Internal reorganization.
👥 New stakeholders join and others leave.
🎯 Internal priorities have shifted
⚠️ Risk assessment concerns
🌍 Uncertainty in the market
The challenge is how to remain engaged during deal hibernation. The strategy includes:
📋 Establish a Hibernation Protocol:
Cross-functional teams agree on what constitutes a lost deal and which deals require continued engagement.
🤖 Leverage Customer Research:
Demographic and firmographic data aren’t enough. CMOs must dig deep into the data using AI to uncover the context for customer purchases and the nuances differentiating decision-making for customer segments.
🎯 Personalization is Critical:
AI allows CMOs and CROs to tailor messaging and the sales process for each customer. That spans from recommending which product sales leads based on signals the customer has given off during the pre-sale process to messaging. This is critical, notes Forrester, because 92% of customers start with one vendor in mind.
💡 Lead with a Point of View:
Customers talk to sales after extensive research. However, they often revisit the problem statement 3.1x because of the complexity of the buying process. Lead with a point of view to help them identify their knowledge gaps about the solution.
🚀 Establish a Re-engagement Campaign:
When a non-decision happens, stay in touch with the customer. Highlight new insights, share your point of view about the market, and position your product against alternative methods, including the cost of no decision. Challenge their thinking and provide clarity about your solution’s value.
CMOs who embrace non-linear purchasing and leverage AI to spot the signals with personalized messages and solutions will win more deals when they empower customers to exit hibernation.
What is your firm doing to remain engaged with hibernating customers?
Ready to Pivot? Schedule a Discovery Session. Together, we can create a growth strategy for your business.
