In the past years, the sales profession was often considered an “art” rather than a science. The industry has changed tremendously since then with data science and modern technologies- a profound shift in the seller and buyer relationship; the surge of the emboldened, well educated and critical consumer; and the change from traditional outbound to inbound sales and marketing. These changes resulted in very competitive sales environments.
Organizations have been integrating CRM systems and software in their sales departments to organize sales efforts and customer data. Furthermore, automation software and systems were created for marketing departments to automate routine functions in tracking and scheduling of marketing strategies. According to research, the marketing automation software market will grow to $5.5 billion this year. Though, companies would need more than CRM tools and marketing automation software to compete effectively. They have to incorporate sales acceleration technology so they can reach their ultimate goals.
Defining Sales Acceleration Technology
Sales acceleration technology is a type of software that’s created to optimize sales and revenue by developing sales effectiveness and propelling sales efficiencies. This not only includes automating sales processes, but also advancing the velocity of sales by enabling agents to identify the best prospects, interact with them more efficiently, and have more meaningful conversations during the selling stage. Need more information to convince you of the importance of sales acceleration tools? The following are some reasons why sales acceleration technology is essential for your business.
What Makes Sales Acceleration Tools Indispensable?
CRM Tools Are No Longer Sufficient
In the past, before CRM tools were created businesses were run using contact databases, spreadsheets, and sometimes even Post-its. Although CRM has significantly improved sales teams’ productivity by storing client information and greatly developing team collaboration, it hasn’t done much to actually help agents influence the results of sales calls. It is through sales calls that most inside sales deals are closed. Sales acceleration tools can close the gap between calls and customer information, by showcasing data in the proper context. These tools also allow sales agents to quickly call down CRM lists and interact with more leads.
Changes in Buying Behavior
There have been profound shifts in buying behavior and, as a result, businesses need to modify the ways they sell. It used to be that big deals were closed over dinner and drinks. However, modern buyers are accomplishing their buying journey on their own and researching online before interacting with sales. Except for corporate-level sales deals, there’s hardly time for face-to-face meetings. Your sales agents must be fast enough to reach out to prospects during critical sales stages. Consumers are now educating themselves more and they expect sales agents to be more informed than ever. You need to provide agents with tools that show contextual information about prospects and their preferences so they can have more relevant conversations with them.
The Lack of Real-Time Insights on Agent’s Performance
Inside sales leaders need timely insight into sales activities and their outcomes to help more agents reach their quotas. Tools that offer advanced metrics in real-time allow managers to make intelligent revenue forecasts and identify opportunities to coach agents to success. For example, if a sales manager notices that an agent is not following up with leads as many top agents are, the manager could then coach that agent to follow up more actively.
Businesses require sales acceleration technologies to remain competitive in this very challenging industry. The modern-day consumer is more informed and they act fast. You have to be there during the critical stages of their buying journey. Employing sales acceleration tools will allow you to connect to more buyers.
Your sales acceleration strategies should evolve along with the practice. As buying behaviors change along with the rise of technology, it’s important to know if your organization can keep up. It’s best to consider a comprehensive sales arsenal that comes with all the necessary tools needed to boost your sales. Talk to Lucrativ to know more about our sales acceleration platform.
