With the emergence of analytics, context filled systems, cloud, and an increase in available information, sales is significantly changing. The sales transformation is enabling buyers and salespeople to engage with one another in more efficient ways. The use of technology to increase sales efficiency is not new, for the creation of telephones, computers, and cell phones were all technological advancements to the sales industry and customer connections. As sales technology continues to improve, sales teams must continue to adapt to the new trends and technologies. If a business is unable to use the advancements in sales technology to their advantage, then there not using their resources to their full efficiency and the business will suffer. Here are a few ways to ensure that your business is keeping itself up to speed with the new technologies of the business world.
1. Pervasive computing. Through the omnipresence of mobile devices, buyers and salespeople can contact one another anywhere and at any time.
2. Advanced and prevalent analytics. Through layering analytics with linked data on clients, sales actions, salespeople, and companies can deliver the right decision assistance to the correct salespeople and clients at the correct time.
3. Background filled systems. Data and analytical insights can be changed and aimed for certain situations faced by clients and business personnel. The next level customization aligns ideally with how salespeople think and do business.
4. The cloud and software foundation. By using these systems effectively your business can keep up with the constantly changing sales force, clients, and business model.
Let’s look at a company in the financial services industry that employed an outbound inside sales force to sell credit and lending products to small businesses. The company reviewed millions of phone records and listened to many of the calls to find ways that they could improve client targeting and sales process implementation. Using advanced and prevalent analytics, the company preformed tests and found improved results. By focusing on fewer clients at a time they were able to increase their profit by over 15%. Also by changing call times to the ideal time of day, salespeople were greatly increasing the probability of closing a deal and increased profits by 20%. Finally by using background systems the top salespeople were able to increase their performance.