Why Technology is Better for the sales Growth

Why Technology is Better for the sales Growth

6 Way Technology Has Streamlined the Sales Process

Technological change impacts every profession -- but its impact on the sales world has been particularly dramatic. Modern sellers behave almost nothing like their predecessors. They have new tools, new techniques, and new resources at their disposal -- and of course, they face new challenges.

These changes require salespeople to adapt if they want to survive. Let’s explore the five biggest ways technology has transformed sales.

1) The Ability to Find, Qualify, and Connect With Buyers Around the Globe

These days, salespeople don’t need to take prospects to the golf course or a steak dinner to form a relationship. Social media makes it easy to find, qualify, and connect with buyers -- whether they’re in the next town over or across the world.

Effective social sellers build trust and rapport with their prospects before a sales conversation ever begins. These reps have an instant advantage over non-social sellers because they’ve already established themselves as trusted advisors by the time buyers decide they’re interested in that solution type. That means modern sellers can jump immediately into giving recommendations and showing their prospects the value of their product.

2. Big Data 

In today’s world, competitive advantage for sales organizations depends largely upon the ability to successfully capture, manage, and analyze massive volumes of customer data  that contains insights into customer behaviors and buying habits. Despite this, available. This is where “big data” technology comes in.

Using big data analytics tools, sales organizations can now manage prospecting, a critical step in the sales process. Traditionally, prospecting (finding and qualifying potential customers with specific needs and wants) has been a time and labor-intensive process. Now, through the use of analytics and customer data models, organizations can not only identify potential customers, but more accurately predict which leads from B2C or B2B lead generation efforts are likely to become clients. This gives the sales team a clearer idea of where to focus their efforts.

Analytics also help organizations determine which customers to target, how to use profiles to identify lookalike customers and which buyers are most likely to respond to different messages and offers. In short, big data analytics tools help organizations focus their sales efforts on the most promising and profitable activities and customers.

3. Social Platforms 

The explosion of social technology has given rise to a number of social media platforms for attracting and engaging new customers, a vital step in getting a customer into the sales funnel. Social media platforms provide opportunities for companies to “shake hands” with customers, engaging them in conversations about products and services for valuable insights that could lead to a sale. Unlike conventional sales, social media makes it possible to shake millions of hands from across the entire world all at once.  

Today’s customers are more connected than ever due to social media platforms. Statistics show that a majority are turning to peer recommendations and reviews on social media as part of their product research—in fact, for the average customer, peer recommendations carry 10 times the weight of recommendations from salespeople. Even more revealing is the fact that most buyers have all but completed their sales journey before ever contacting a seller. Organizations can follow this trail of digital breadcrumbs from prospective buyers on social media, and better target potential customers at just the right point in the decision making process.

Customer feedback on social media sites also helps businesses refine and shape their messages and sales tactics to ensure greater success in the future. Social platforms offer a unique advantage for sales teams, and studies suggest that 78% of sales professionals who use social media consistently outsell their peers who don’t.   

4.Sales Force-Displacement

The internet has played a significant role in facilitating the creation of virtual businesses that generate referrals and sell products and services without the need for a sales force. Amazon, eBay, and Craigslist are a few examples of these companies. Today an app or a website with good content can generate traffic and sales.

The idea of scale selling any products without a field sales force or telesales was inconceivable twenty years ago.

The print advertising industry has been devastated, and many newspapers went out of business because they couldn’t compete with free online classified ads as opposed to paid newspaper ads.

5) The Ability to Discover Almost Any Piece of Information

Before the rise of the internet -- followed shortly by the rise of smart phones -- researching buyers, sellers, and products was time-consuming and inefficient. If a salesperson wanted to learn more about their buyer’s vertical, industry, or business, they’d have to call an expert, read a relevant book or publication, or visit that prospect’s company. If a prospect wanted to research a salesperson’s product, they had to go through that salesperson to learn about features and pricing.

Nowadays, finding this information is as easy as pressing “Search,” and it means that the balance of power has flipped significantly in buyers’ favor. Prospects can educate themselves about a product without ever speaking to a salesperson. This means that to remain relevant, reps can’t merely recite facts and figures. They have to provide tailored advice based on a prospect’s specific situation and act as consultants.

6. Sales Force Automation Systems

Statistics show that businesses without automation spend 71 percent of their time and resources planning and defining business processes. The same holds true for sales organizations. Selling requires a number of tedious, time-consuming, and repetitive tasks, such as scheduling sales appointments, sending follow-up emails, and updating sales opportunities(all of which reduce productivity and profitability).

Sales Force Automation (SFA) technology solutions automate many tasks, freeing up sales employees to focus on activities that generate more sales and revenue. SFA allows sales managers to keep their teams up to date on current and new products and services. With SFA, managers can also have instant access to activities of individual sales employees, sales figures, opportunities, customer complaints, and other data used to determine sales success. Armed with information provided in real-time, managers can take action and make adjustments quickly to optimize efforts.