What is Sales Acceleration Technology?
Posted by Francis Cyriac
The world of sales is changing rapidly. What was once a process of remotely selling products and services have now evolved to companies employing sales structure that includes a larger mix of inside sales professionals, sophisticated sales people that interact with buyers remotely and the implications of Sales Technology.
Sales technology has come a long way since salesforce.com made a major impact in the sales automation space that disrupted the age-old art of selling. Inside sales leaders saw the need of something bigger, something that could actually fuel the sales pipeline of representatives rather than utilising a CRM that organizes the sales process.
Enter Sales Acceleration.
Sales Acceleration means to increase the velocity of the sales process. Sales acceleration technology fills the gap between Marketing Automation and CRM tools. Many sales organizations accelerate sales by incorporating inside sales in their sales strategies because they have realised the impact of inside sales in their organization. Inside sales teams close deals in 69 days as compared to 144 days for outside sales representing a 109% difference in closing times. This has proved that by shortening the sales cycle organizations can speed up their sales process.
Sales acceleration is about dialing more prospects that you could ever have. It’s about gathering sales-intelligence about prospects so that sales representatives have something relevant to talk about. Sales acceleration is about hiring and training sales reps. It’s about responding to web leads in less than 5 minutes. It’s about making 6 to 9 phone calls to respond to a lead than 1 or 2. Sales acceleration is about using predictive analytics and technology to determine who and when to call for optimal contact and qualification rates. It’s about calling local markets with a local caller IDbecause prospects trust local phone numbers 57.8% better than toll free numbers, long-distance numbers and blocked numbers. It’s about nurturing prospects and customers throughout their journey. It’s about tracking critical sales performance metrics that impacts sales. It’s about scoring leads and prospects with sales predictive analytics.
Sales acceleration is about speed. It’s about execution.
But what fueled this shift? There are three main trends in the buyer-seller dynamic that caused sales organizations demand for sales acceleration technology.
· Fragmented time
Information age coupled with internet revolution has made buyers today work in small time frames. They switch between task every three minutes. This means that prospects’ buying signal is turned on for less than 180 seconds. This is a very small window of opportunity to engage with prospects. Sales teams must respond rapidly to order to maximize the chances of getting these prospects on-board.
· Online lead generation explosion
With search engines, content revolution and digital marketing advancements, buyers have changed the way they learn about products and services, and the way businesses generate leads. Billions of dollars are spent on digital marketing by businesses in order to generate leads. And businesses need to keep pace with the increasing number of incoming buying interests.
· Sales reps not Hitting their Quota
67% of sales reps are not meeting their quota, and sales organizations have identified the reasons behind it; one of them being not having the right technology. Technology that can help reps connect better with prospects, have smarter conversations, as well as empower managers to coach sales teams better to meet and exceed quota.