Sales technology has evolved at a rapid pace in recent years. With sales automation, sales professionals can now spend more of their time on the things that matter most: selling and closing deals.
Sales technology is changing the sales process. It's also changing how salespeople are compensated, and how they work with their teams. How do you ensure that your sales team is using sales technology effectively?
If you want to be successful in sales, it is important to make sure that you are utilizing the latest technology. Marketing has evolved drastically over the past few years, and sales teams need to change with it or they will quickly fall behind.
What is Sales Technology?
It is a relatively new type of business that falls under the umbrella term of sales and marketing technology.
This can encompass a wide range of technologies, from CRM (customer relationship management) software to email autoresponders to automated lead-nurturing systems.
One important thing to note is that if you're selling software as a service (SaaS) – a cloud computing-based subscription service – you may want to streamline all your technology into one platform, as that is the only way the end user will be able to use it.
For example, if you're selling both email autoresponders and CRM at the same time, you'll need to make sure their processes are integrated together in order for it to work effectively for them.
Customer Relationship Management software is only one type of technology on its own; there are many others, including marketing automation which can help users schedule emails or social media posts at exact times, lead nurturing systems that guides leads through an automated process until they become customers, or analytics that provide business intelligence information on what's working and what is not.
One way to think of it is as software that boosts the effectiveness of a business' sales operation, without getting in the way or requiring too much training. This can be anything from simple lead management systems to complex predictive analytics engines.
How To Use Sales Technology For Your Benefit
To be successful in sales, it is important to make sure that you are utilizing the latest technology. Marketing has evolved commendably over the past few years, and sales teams need to change with it or they will quickly fall behind.
1). First, sales teams are starting to see the value of using sales analytics. Sales analytics allows sales reps and managers to track their pipeline management in real time so that they can make adjustments when necessary.
If a sales rep believes that he or she is being too aggressive with closing opportunities, this information can be used immediately to help change their approach for the better.
It is also great for sales managers who are looking to track their sales team's activity across the board, as well as make sure that all of their sales reps are closing at similar rates of success.
2). Second, marketing automation has come a long way over the past few years too. Marketing automation allows sales teams to automate some repetitive tasks like email outreach and lead nurturingto focus on higher value work instead.
This frees up your time during each day which you can then utilize towards other things such as prospecting new leads or following up with existing ones in order to close deals faster than ever before possible without it!
If anything, this is one of the most important points mentioned here about how technology helps sales teams.
3). Finally, technology that is used to track social media activity can be extremely helpful too.
Social selling has become a huge part of sales in recent years and it makes sense for sales teams to utilize this form of marketing as well since customers are more likely than ever before to buy from brands they follow on various social networks.
This allows sales reps and managers alike to keep tabs on what their prospects' interests may be so that they know the best way possible how they can help them succeed!
With all three points mentioned here about ways sales teams use modern marketing technology for sales, it cannot go wrong if you want your business or brand to thrive like never before.
What Is The Need Of Sales Technology?
With the changing world of business, there are lots of changes that can be seen in every process. With more and more population spawning out to be more competitive, it has become necessary for every company to improvise its sales strategy.
It has now become a trend to sprint fast on the path of progress and development. Every day something new is coming up with better technologies and concepts which help us devise better future plans.
It provides you with the best options for implementing automation processes into your sales cycle that will result in increased revenue generation as well as giving your organization an edge from your competition.
It is a collection of concepts and tools which help you to simplify the complex sales process so that you can meet or exceed your targeted goals within a given time frame.
What Are The Different Technologies Involved In Sales?
The three main technology categories are: data mining, analytics and social media.
1). Data Mining: Data mining involves using software tools for extracting useful information from large amounts of data stored in databases or other repositories.
For instance, it might involve taking a retailer's customer database and searching for common characteristics among customers who have made at least ten purchases over the year with an average transaction size of $400.
Those customers might be flagged as prime prospects for a special holiday promotion sent via email with a subject line that says, "Happy Holidays from Acme!" This type of mining is often used in conjunction with analytics.
2).Analytics: Analytics tools are used to assess the reason behind the results obtained through data mining and market research activities. It reveals deep insights into customer behavior which helps businesses to make accurate decisions.
For example, it can provide information on optimal pricing strategies for individual products or services among diverse geographical regions.
3). Social Media: Social media tools help organizations listen to what clients/prospects are saying about their brand/products online across different social platforms e.g., Facebook, Twitter, LinkedIn etc.
These tools also make it possible to post appropriate responses on these platforms and interact with current as well as potential customers. They can also be used to monitor, track and report real-time results of online marketing campaigns.
What Are The Benefits Of Sales Technology?
Using Technology is very beneficial for any business as there are lots of tools available today that will be helpful in providing you details about the best opportunities your target market has at this point in time.
Moreover, it would not require a huge investment and you could affordably change the way your business is performing within a matter of days or weeks.
1). Save Time: Using technology allows us to manage our customer base more efficiently, resulting in increased productivity and less time spent on administration tasks such as data entry. Your employees will have access to more accurate and timely information, allowing for shorter sales cycles.
2). Save Money: With the right technology in place, you can improve your business processes to eliminate waste and drive down costs.
Technologies like analytics software can produce significant savings by producing more accurate data that helps you make decisions based on real numbers rather than best guesses.
Automation of repetitive tasks can also help save money because employees are able to spend their time on more valuable activities; managing contacts automatically frees up your salespeople's time to focus on closing deals faster instead of manually entering contact information into their smartphones or other communication devices.
3). Gain Insight: By uncovering the motivations behind why customers buy, not just what they buy, you gain valuable insight which should bring about increased sales in the future.
Sales intelligence technologies enable you to do a better job listening, learning and adapting to meet your customers' needs.
4). Boost Sales: With real-time access to relevant information about your prospects, sales reps can engage with them at the right time and on their own terms, which is conducive for closing more deals.
Advanced analytics can help you identify trends that have been missed by traditional market research techniques such as surveys or focus groups, allowing you to target these trends with timely offers.
Sales professionals who use technology tools also see a nine percent increase in quota attainment over those who don't because they have more up-to-date information at their fingertips which allows them to close more business faster.
Tips And Tricks For Sales Technology
Over the past few years, technology has really taken off. To keep up with this pace of change, there is a constant need to learn new things, stay abreast of trends, and differentiate oneself from others in the competitive sales environment.
Below are some tips I have developed during my time as a salesperson, manager, consultant for companies selling recruitment technologies and SaaS products.
1). Know your limitations: The reality of it all is not everything works for everyone. What works for me might not work so well for someone else who is at a different stage of their career or personal growth.
Also an app that works wonderfully for you might become frustrating to use over and it's important to be honest with yourself about this. "Know your limitations" I think is the best way to put this.
2). Don't be afraid to experiment: technology can become overwhelming fast, but it's important not to get discouraged because there are so many options out there.
It becomes even harder when you realize that most of these tools aren't free - you have pay for them in some way or another....time, money, resources, etc.
The fact of the matter is though that if you're eager to learn new things and are never satisfied with where you're at then you have to suck it up and invest in your personal development through learning about different technologies that can help you do better work.
Keep in mind that not everything will provide equal value...but something new might spark an idea from you which could be the difference between a successful month and a not so successful one.
3) Find some good resources: There are tons of free places online to find out about technologies. The best place I know of is LinkedIn - specifically their Sales Solutions & Technologies group.
It's great because it's a very active community with people posting questions on platforms like Facebook, Twitter, etc where you can encounter even more knowledgeable people that will likely help answer your question or point you in the right direction.
Definitely try to engage others on LinkedIn as much as possible for this type of question as opposed to going directly to the platform itself....it's way too noisy on those websites!
4) Seek inspiration from high achievers: As I mentioned in my last point, LinkedIn is a great place to get advice from other Sales pros that have had success using certain tools or methods of selling that might be influencing you to become more successful yourself.
5) Look for opportunities to do better work: I don't think there is any perfect time to become successful at something...or more specifically to get better at something.
There is always something you can do better whether it's your personal performance or some new piece of tech that could help you increase productivity or heighten communication with your clients/customers.
I think the best advice I can give on this topic is to constantly be looking for ways to improve yourself and your work by asking more people than just one person who might know what you're trying to achieve....even if that means emailing 100 different people in different industries.
6) Seek out humility: Lastly, I find humility extremely important when it comes to high achieving individuals because no matter how good someone really becomes at something there are bound to be things they don't know about yet.
That's why I believe it's important to always ask more questions and seek out as much information as possible - even if you end up seeking advice from the same person that provided the original answer.