Sales Acceleration Technology: 7 Reasons Your Business Needs it
Article Contributed by Jeremy Mendoza, Founder & CEO of AnnexQ
Sales acceleration technology offers several benefits to an organization. It provides insightful data that marketing teams and sales executives require to convert leads efficiently. They can access the latest and relevant information they may need to move buyers through the sales funnel faster. Furthermore, it aligns the information and insights with opportunity, sorts the buyers by the level of qualification to help the sales team maximize their productivity, and uses the business’s important resources towards most qualified leads for better conversion.
Recent research has shown that B2B organizations that utilize sales acceleration technology experience 36% higher customer retention and 38% higher sales conversion rates.
Along with these benefits, the technology helps in shortening the sales cycle. By equipping your sales team with the intelligence they need and providing them with context, you can make your sales reps perform better and therefore generate more sales and revenue for your business. Here are some major benefits that companies can get from sales acceleration technology:
1. Faster Lead Generation
Prospecting the leads can take a toll on your sales executives and sales managers’ work time and efficiency. Moreover, lead generation will not result in sales, and spending time chasing new leads will leave them with lesser time to engage with potential buyers. Your sales reps should not be wasting their time running towards generating more leads.
Use a lead generation tool to automate the tiresome task of researching and vetting the prospects, which needs to be done before communicating with the prospect. This will help the sales reps skip the legwork and go directly to selling. With an increase in the speed of selling, the pace of business operations will also pick up.
Faster lead generation will help your business facilitate faster allocation and nurturing of leads, resulting in faster conversion. With this, your business can focus better on innovating, evolving its products and services.
2. Improved Sales Productivity
Sales reps are mostly occupied in searching for previous communications or marketing material. This usually happens one or two times every day for every rep, which is realistic. Considering this concept, the amount of time wasted in this task is apparent, which could result to potential revenue loss. Sales reps are productive when they sell. Sales acceleration tools enable them to maintain a high level of productivity, contributing to the bottom line.
3. Better Trained Sales Team
While implementing a sales acceleration strategy, you need to avoid going too fast. While implementing the sales acceleration process, skipping some important touchpoints may lower customer experience, as sales executives and reps may misinterpret patterns and nuances necessary for positive interactions over the phone, in person, or online. With the sales enablement software, sales leaders can dedicate their time towards training and coaching their skills, and help them hone new skills and gain knowledge. Sales acceleration technology needs easy access to training schedules and resources to ensure a smooth road. This may necessitate a single repository of sales and marketing information, including collaterals, tutorials, certifications, guides, case studies, etc.
4. Improved Data Insights
Your CRM system is an important part of sales intelligence, but extracting these insights will not only take time but will also require technical skills. Sales acceleration software integrated with the CRM platform will help your sales and marketing teams make valuable use of these insights. Automatic analytics can help you reveal patterns in your content like which content piece performs better with a certain set of buyers and what time of the day is best to send communication to your sellers. Sales acceleration tools can turn insights from CRM into actionable takeaways. With time, this level of optimization based on data received from CRM provides better results in the form of sales gamification. Your sales and marketing apps can access email-open rates, rise in content performance, and help you communicate with your prospects in a better way.
5. Aligned Sales and Marketing
Marketing collaterals are regularly customized and updated. If your sales and marketing teams are not coordinating sufficiently, your sales reps will find it difficult to find the right content. This will negatively impact presentations to your costumers. Sales acceleration technology can remove this disparity and help you unify your sales and marketing team. A single digital enablement ecosystem to manage the whole content will benefit both teams and avoid common obstacles resulting in secluded departments.
Imagine you are on a call with a high-quality prospect that needs a final buy-in from his manager before signing a sales contract with your business. However, when the call ends, you don’t have a single piece of content on hand to share with your prospect. In this case, you will just have to wait and hope that the prospect and his manager comes through.
To avoid such situations, your sales acceleration software should integrate with some content inventory so that any interaction with their prospects can immediately be followed with relevant communication. In other words, be ready to provide your potential customers with whatever piece of information they might need to say yes.
6. More Engaged Employees
Sales acceleration tools ensure your marketing staff and sales reps of your company take sales enablement strategy seriously. Sales acceleration tools will not only support the functionality of the employees, but it also helps sales gamification encourage better engagement. Sales gamification can include traditional motivational techniques, such as instructional courses, in the form of games. It may become even more essential as a sales and marketing leader looks for techniques to engage the workforce and motivate top performers.
Engagement is highly connected to productivity. An employee who is excited and motivated to be in the sales frontline has a better chance of achieving her target and supporting her whole team. Your engaged sales team could motivate other departments, support the company’s sales goals, and mentor new hires.
7. More Selling Time
It can be tough for your sales reps to determine where to start when they have a list of leads. Sales acceleration tools can remove the guesswork, as it can identify the best prospect in advance.
Companies often send multiple intent signals like search engine queries and social media posts for products and services, and news of changes in the management and acquisitions. Without an efficient sales acceleration tool, capturing these indicators would be near to impossible. Predictive analytics can prioritize leads for the sales reps, so they don’t have to waste their time.
As leads are segmented appropriately and allocated in a more actionable way, sales teams are given more to work in terms of volume or intent. Therefore, sales can be accelerated both horizontally and vertically.
Businesses depend on sales acceleration technology to generate quality insights, interactive training, seamless content management, sales empowerment, and marketing automation. With these tools, sales reps can drive effectiveness in sales.