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Doing More With Less: The 2023 B2B Tech Sales Edition

Because for many, 2023 is about doing more with less, we present strategies to build more pipeline.
If you’re like the 153 sales leaders we surveyed

for our 2023 B2B Technology Sales Climate trend report, 2023 will be about doing more with less. First, we’ll cover the numbers. Then we’ll share some options to squeeze more out of the resources you do have so you can meet your revenue goals without burning out your team in the process.

More is needed on two fronts

About two-thirds of sales leaders—65%—told us that their 2023 revenue targets have increased over 2022. Of course, it’s far from remarkable that revenue expectations grow year over year.

There is, however, something a little different in 2023, which is that 61% of sales leaders are planning to build more top-of-the-funnel pipeline than usual. This is because they believe the economic climate will cause more deals to drop out of the funnel.

Even if their revenue goals remained flat (which, incidentally, is the case for 20% of survey respondents), they’d need to get more deals into the pipeline to tread water. So, those with higher revenue expectations need to further increase the number of deals in the top of the funnel.

Less of everything

It’s a similar story when it comes to resources, with 61% reporting that they will have to do more with less, and more than one-third of that group says it will be significantly less.

It’s not just budgets curtailing the systems and other assets you need to invest in to get the “more” done—human resources are also feeling the pinch. Organizations are planning to hire, with half expanding their inside sales/sales development teams and 42% adding field reps. But more than half—53%—believe that the ongoing talent shortage will make hiring difficult.

This means that open reqs may stay open longer than anticipated, or worse aren’t filled at all. Organizations may end up without enough people to build the pipeline they need and then work it to successfully close deals.

Strategies for building more top-of-the funnel pipeline with the resources you have

At BAO, we know more about building top-of-the-funnel pipeline in B2B tech than just about anyone. In the more than quarter century we’ve been partnering with sales and marketing teams, we’ve created a range of programs to solve some of their biggest problems. If the challenges highlighted in our trend report reflect what you’re currently facing, here are three ways to address them.

1. Make your existing teams more productive
Prospecting is a critical step in the pipeline-building process. There are a couple of things your reps need to accomplish during the prospecting phase. First, they need to find prospects who are willing to talk about your solution. Then they need to engage with those prospects to convert them into potential opportunities (or disqualify them so no further time and effort is spent when there is no sales potential). There are only so many hours in the day, so the more time your reps spend on the first part of the process, the less time they have for the second.
2. Find more opportunities faster in the leads you generate
Lead generation is another essential piece of the pipeline puzzle. Marketing leaders are facing the same pressures as their sales counterparts. Just like everyone else, marketing teams are struggling with resource and hiring shortfalls, and that squeeze may be even tighter as marketing is often—rightly or wrongly—one of the first budgets to be cut. On top of that, many businesses are starting to assign revenue targets to marketing, so teams have even more incentive to ensure a greater number of leads convert to pipeline opportunities.

And because all of our programs are performance-based, you’ll know exactly what results to expect from your investment.

Ready to start doing more with less?