Fortune 500 Company 3M Uses Salespanel to Qualify B2B Prospects

• July 9, 2024

Reading Time: 3 minutes

3M Company is an American multinational conglomerate that manufactures and distributes industrial, safety, and consumer products. Valued at $56 billion (as of July 2024), 3M operates in 70 countries, sells its products in 200, and employs over 85,000 people worldwide.

The B2B Inside Sales team of 3M chose Salespanel for its ability to prioritize and qualify potential clients effectively, streamline the sales process, and improve the chances of closing sales and business partnerships.

The Challenge

3M faced several challenges that prompted them to seek a solution like Salespanel:

• Lengthy sales cycles were a concern, necessitating a streamlined process. 
• They required a robust web tracking tool capable of managing operations at an enterprise scale. 
• Enhancing the efficiency and effectiveness of their sales and marketing efforts was crucial. 
• They needed a user-friendly tool that could be seamlessly integrated into their existing framework without a complex learning curve. 
• Access to critical customer data was essential to facilitate meaningful connections and opportunities. 
• Qualifying and prioritizing important sales opportunities effectively was a priority.

How Did Salespanel Help 3M Address These Challenges?

The solution deployed through Salespanel focused on two main aspects: Lead Qualification and Customer Data.

Optimizing Sales

One of the primary challenges Salespanel aimed to address was the lengthy sales cycle at 3M, which, given its scale, posed significant revenue opportunities. By implementing lead scoring, Salespanel enabled 3M to swiftly identify and prioritize qualified deals. Sales representatives utilized scores generated by Salespanel’s lead scoring module, established under the guidance of inside sales leadership, to pinpoint prospects with higher conversion probabilities. This strategic approach allowed sales teams to analyze lead scores, discern buyer intent, and expedite deal closures, thereby reducing the overall sales cycle duration.

Enhancing ROI

Focusing on qualified deals with substantial account value through Salespanel’s lead scoring methodology also contributed to better ROI for 3M. By directing resources towards prospects more likely to convert, 3M optimized its sales efforts, resulting in increased revenue generation and improved profitability.

Behavioral Data Analysis

Salespanel’s comprehensive data insights empowered 3M to make informed sales and marketing decisions. Sales reps would study data points and specific actions during the buyer journey to understand lead intent and strike the right conversations with prospects.

The integration capabilities of Salespanel across sales, marketing, and management functions facilitated a cohesive approach to client relationship management and business development at 3M.

The Results

Salespanel successfully addressed 3M’s challenges and delivered significant results:

• Efficient Lead Prioritization: Salespanel’s lead scoring capability allowed 3M’s sales reps to prioritize leads effectively, focusing on prospects with the highest likelihood of conversion.
• Reduced Sales Cycle: By streamlining the sales process, Salespanel enabled 3M to execute sales strategies more swiftly, leading to increased operational efficiency and accelerated revenue generation.
• Data-driven Decision Making: The detailed analytics provided by Salespanel’s dashboard facilitated a deeper understanding of client behaviors and preferences, enabling 3M to refine its engagement strategies and enhance overall sales effectiveness.
• Integration and Connectivity: Salespanel’s integration across organizational functions enhanced connectivity within 3M, supporting a unified approach to client management and business growth.

Final Thoughts

Salespanel played an important role in enhancing 3M’s inside sales operations, enabling efficient lead management, and fostering data-driven decision-making. By addressing critical challenges and delivering measurable results, Salespanel supported global leader, 3M, in its pursuit of operational excellence and sustained business growth.