Introduction
The business-to-business (B2B) sales environment, particularly in the cybersecurity sector, is undergoing a significant transformation driven by digitalization. Digital sales rooms are emerging as a pivotal factor in this change, particularly influencing the length of the sales cycle.
Cybersecurity offerings are plagued with complexity. Blurred sales and marketing lines, cybersecurity risk assessments, POC’s, Proof of Concept to managing a myriad of stakeholders and decision-makers.
One saving grace arising out of the chaos of the B2B buying cycle is that of a digital sales room.
Helping cybersecurity buyers and sellers stay on track, remain updated with the latest developments on each deal and mapping out the entire buyers journey in a predictable manner.
What does the data say about digital sales rooms?
- Digitalization as a Driving Force: Digitalization is profoundly changing how companies, including those in cybersecurity, conduct business. It affects the entire value chain and can be used for automating tasks. Around 40% of all sales tasks can be automated, indicating that digital transformation in sales, like digital sales rooms, has the potential to significantly shorten the sales cycle (Fischer, Seidenstricker, Berger, & Holopainen, 2022).
- Content Marketing in Digital vs. In-Person Contacts: Digital events and content have a positive impact on generating sales leads and won opportunities, more so than in-person events. This suggests that digital sales rooms, as part of a digital content strategy, could effectively reduce the length of sales cycles in B2B environments (Wang, Malthouse, Calder, & Uzunoglu, 2017).
- Digital Media Optimization: The role of digital media in B2B marketing is increasingly recognized. A framework for digital media usage, including digital sales rooms, can enhance marketing processes and outcomes, potentially shortening the sales cycle (Krings, Palmer, & Inversini, 2021).
- AI in CRMs and Digital Marketing: The integration of artificial intelligence in customer relationship management (CRM) systems, often a part of digital sales rooms, is increasingly used in B2B digital marketing. This integration can streamline sales processes, hinting at a reduced sales cycle length (Saura, Ribeiro-Soriano, & Palacios-Marqués, 2021).
- Impact of COVID-19 on Digitalization: The pandemic accelerated the digital transformation of companies, including the adoption of digital sales rooms. This shift is expected to have lasting effects on sales processes, including potentially shortening the sales cycle (Almeida, Santos, & Monteiro, 2020).
- Social Media and Digital Tools in B2B Sales: The use of social media and digital tools is changing the dynamics of the B2B sales process. Digital sales rooms, as part of these tools, can engage international prospects effectively and manage relationships, possibly affecting the sales cycle duration (Fraccastoro, Gabrielsson, & Pullins, 2020).
Choosing a digital sales room
Choosing a digital sales room that suits your cybersecurity offering can be quite a daunting task.
An important task to precede the creation of your digital sales room is simply to map out, in as much detail as possible, the buyers journey. This journey would typically start at the discovery call and end when the deal is closed. Use simple tools like draw.io or mermaid or Visio or even PowerPoint to map this out. The implementation becomes easy once this is in place.
Buyers like to see what the next step is, and as a further benefit to sellers, most digital sales rooms would also allow you to track the activity within that sales room, so you can easily see who your more engaged leads are and which to give more of your attention.
Conclusion
Digital sales rooms are significantly influencing the B2B sales cycle, particularly in cybersecurity. By integrating digitalization, AI, and optimized digital media strategies, these virtual environments are likely contributing to a more efficient and shorter sales cycle. The evidence strongly suggests that embracing digital sales rooms can be a strategic move for B2B cybersecurity companies looking to streamline their sales processes.