Information is power. Nowhere is this more apparent than in measuring the success of your sales team. Many companies leverage sales data to analyze their past performance and predict their future success. Meanwhile, other firms specialize in gathering customer insights to create highly customized campaigns and programs.
Companies used to depend entirely on the merits of their product or their sales representatives’ social skills to find success. These companies are now using data to learn more about their customers and how the market behaves.
The advantage of data-driven sales
Before, many companies had to depend on their sales representatives’ ability to sell products to customers based on their intuition. However, this method is a bit unreliable, as it depends largely on the salesperson’s skill and “gut instinct” instead of addressing each individual buyer’s specific needs.
In contrast, data-driven sales take other factors into consideration before reps engage with a client. This includes present market and economic conditions, competitor activity, and even buyer sentiments. This helps sales teams make more targeted approaches to selling instead of devoting time to prospects that are obviously a bad fit or not interested.
With a more efficient approach to sales, companies can now focus their resources on more qualified prospects instead of spreading themselves thin. Eventually, this more disciplined approach leads to higher rates of closing and a better spend-to-revenue ratio.
How data insights can help improve sales performance
Data insights are the end product of analyzing sales information based on specific criteria.
For instance:
Performance: sales managers can use this information to keep track of their sales team’s performance over a period of time.
Training: Tracking the team’s performance also helps sales managers to determine which skills need refining. When managers know their team’s weak points, they can easily define the type of training to give.
Rewards: The insights can also help identify top performers so managers can reward them.
Top sellers: Data insights can also help sales teams track a product’s performance. It allows them to determine which products are selling well and which are performing poorly.
Slow movers: This information helps the team to better identify the slow-moving products that need to be marked down.
In short, data insights help increase sales efficiency by allowing salespeople to focus their resources on more qualified prospects instead of having to blindly convince leads who may or may not decide to purchase.
Sales teams understand their customers better
By collecting and compiling sales data from customers, your sales team can build a better, more accurate picture of your clients. Sellers can find more common ground by learning more about a client’s purchase histories, motivations and core beliefs.
Some modern sales CRM apps might even tell you which customers are the most loyal and which customers are the most profitable. If your sales CRM software is really up to snuff, it may show sales managers and decision-makers which customers are at risk of moving to your competition. This will allow sales teams to deploy tactics to keep customers on board.
Closing deals becomes easier
With a better understanding of the client comes more personalized campaigns and customer programs. This includes highlighting benefits, implementing promotions, and applying incentives that are more likely to elicit a positive response from your clients. Using sales data can give your company an edge when it comes to meeting your clients’ wants and needs. And when your buyers are more responsive, closing the sale becomes much easier. But you need access to integrated, real-time sales data first for this to become feasible.
Accurately identify upsell and cross-selling opportunities
A better understanding of the client also means knowing if they are open to supplemental offers such as additional upsell or cross-sell opportunities. Having reliable sales data can help indicate if a client is more likely to respond to additional offers apart from their original purchase.
Conclusion
Sales data is a powerful tool that can help your sales team turn into a more productive revenue generator. Consolidating and analyzing your customer information to get the right insights can go a long way in closing deals with them.
While many sales teams are still using spreadsheets, paper, manual processes, and non-communicative apps, getting accurate sales data is a time-consuming challenge.
To successfully harness the power of your customer database, you’ll need reliable software to process all of the information for your team.
Skynamo is a leading field sales CRM platform that automates sales reports and produces sales and customer insights at the touch of a button.
Skynamo helps gather, store, and analyze customer data, which eventually turns into valuable insights. The software helps identify which prospects are more open and ready to listen to your latest pitch. At the same time, Skynamo also helps identify customers that are in danger of leaving you for a new supplier.
How can Skynamo help you today? Please visit us so we can learn more about how we can help your specific business. Share your contact information and we’ll be very happy to arrange a free demonstration.
Technology has driven the sales industry to new heights. From landlines to cell phones, cold calling to data-driven leads, and manual data entry to automated CRMs, we’ve come a long way. Not only is technology playing a bigger role in every touchpoint of the sales process, but it has restructured the sales approach entirely.
This is because sales technology allows reps to personalize their approach and close deals at the most opportune time. It minimizes time and resources wasted on poor leads. In this guide, we will analyze the impact of digitization on the industry by looking at how sales technology has evolved over time. Understanding these benefits can enhance the way your team does sales and help you remain relevant in a competitive and ever-evolving world.
Sales tech, a brief history
Sales technology has progressed from devices that allow sales reps to just share their message to tools that help them to communicate in engaging, relevant, and effective ways. The following major milestones in the history of sales technology have laid the foundation for today’s efficient digital sales methods and solutions.
The Digital Revolution
1950-2000
The Digital Revolution saw companies moving away from mechanical and analogue tech and toward using digital sales technology. During this time, analogue mobile phones paved the way for mobile communication. As a result, door-to-door sales declined, and telemarketing became the norm. Salespeople used the invention of voicemail in the 1980s to ensure their sales messages were reaching prospects.
Digital computers and the internet also became available to the public during this time, further accelerating communication. Because of this, the integration of digital record-keeping also became a regular business practice.
Shortly thereafter, the first laptops became available for public purchase. This then transformed the way salespeople could work on the go. They could now be just as productive and efficient on a sales trip as they would in the office. The world wide web and the first video conferencing platform, WebEx, further enhanced their ability to connect with customers from anywhere at any time.
This era of sales technology was revolutionary for customer relationship management. ACT! (Automated Contact Tracking) launched in 1986 as one of the first customer relationship management software tools. The concept pioneered ongoing developments of more comprehensive CRM tools. SalesForce was then launched in 1999. Although its competitors didn’t take cloud services seriously, SalesForce quickly became the world’s largest vendor of CRM as customers migrated to the cloud.
The Smartphone Revolution
2000-Present
Also known as the Information Revolution, the past two decades have seen an evolution in both smart technology and automation. The rise of Facebook (2004), YouTube (2006), and Twitter (2006) changed marketing forever. Salespeople could now leverage social platforms to source leads and easily communicate with prospects. Tablets became useful tools for sales presentations and working on the go.
Smartphones and mobile apps further enhanced information and pricing accessibility. This technology allowed sales managers to track sales in real-time. Salespeople could also use these devices to quote clients immediately, finalizing paperwork through their digital tech.
Improved CRM provided the advantage of storing massive values of data in relatively small spaces. Reps could thus start personalizing the sales experience based on accurate customer information. Advancements in sales technology and automation have largely reduced the manual administrative work required in sales, freeing salespeople up to focus on customer relationships.
The evolution of sales tech has essentially allowed reps to optimize their sales opportunities, catch prospects as soon as they are ready, and improve their service. The impact of these advancements can still be seen in how companies run their businesses to this day.
The benefits of using sales technology
Given the speed at which business and sales technology is evolving, companies that have not adapted to the new technologies are quickly lagging. This resistance to change is causing a wide gap between the frontrunners and those who are falling behind.
Traditional methods of telemarketing, manual lead generation, and spreadsheet CRM are obsolete. They hinder growth and slow productivity. Any hesitancy to adopt new sales technology also impairs employee growth. This can render a business irrelevant to the modern consumer and take away from their ability to meet their needs.
While some businesses may not want to use new tech because of the cost, the reality is that sales technology saves time, resources, money, and administrative labour. It also improves productivity and efficiency, which translates to increased sales profits.
The following list outlines the significant benefits of adopting sales technology.
Improves ongoing product and sales education
Synchronizes all touchpoints of the sales system
Provides on-demand sales resources for every step of the customer journey
Enhances account personalization
Improves strategic lead generation
Real-time sales tracking
Geographic sales expansion
Improves data-based decision making
Reduces manual administration and thus, human error
Decreases administrative labour costs
Eliminates hard copies and printing costs
Faster proposal and quote turnaround
Sign and deliver contracts anytime from anywhere
Sales reps can access data and account information while travelling
Improved communication between departments, salespeople, and customers
Sales managers can track engagement, sales, and monitor content use
Better quality conversions
Improved audits
Interactive sales tools
Out with the old, in with the new
Regardless of how good your product is, an inefficient sales process will not lead to a successful business. Using sales technology can help you to find digital solutions to common business and sales problems.
Tech tools have become vital to crafting a streamlined sales process. The following tools can help any business to up their sales game to become a leading competitor in their industry.
CRM
A sales CRM automatically organizes customer data, tracks client communication, and sends follow-up reminders. This sales technology is an essential tool that seamlessly manages all touchpoints throughout the sales journey. With automated administration and data organization, sales reps can spend the time saved on fostering meaningful client relationships.
Automated processes also improve data accuracy. An effective CRM stores a significant amount of data in a way that is easy to find. Your salespeople can then access updated customer data from anywhere at any time.
Sales and marketing automation
This sales technology automates the many responsibilities that are essential for building a profitable sales process. Among many other functions, sales and marketing automation both involve bulk emailing and personalizing client messages. Marketing automation focuses on attracting leads through industry research, content, and distribution tasks. Sales automation aims to convert those leads to buyers and centres largely on connecting with customers and optimizing the customer experience.
CRM, lead generation, and email marketing software all integrate sales automation tools. Sales automation is essential in helping sales representatives to manage their sales processes and tasks more efficiently.
Lead generation and prospecting
Manual sales prospecting is a tedious task. It takes away from the time needed to foster new leads and client relationships. This sales technology automates and simplifies the prospecting process by sourcing leads from online channels. These include social media, email, and landing pages.
It then collects contact information from prospects who have shown interest in a product. The software then automatically directs the information to the right sales team. The information provided allows sales staff to approach more qualified leads with better insights, tactics, and personalization. This translates into more profitable deals.
Video conferencing
Video conferencing tools should be non-negotiable for every sales business. They allow for seamless client meetings regardless of location and time zones. They also give salespeople the ability to give remote presentations and offer screen sharing.
Video conferencing saves a significant amount of time and money by cutting out travel time and costs while widening the geographic pool of sales candidates. In doing so, it also allows salespeople to meet with a higher number of potential clients daily.
Data insights and analytics
Interpreting the mass of customer data collected from retail channels, eCommerce, and social media is a challenging and time-consuming task. Implementing data analytics tools will allow your business to create instant customer profiles from collected data. This sales technology offers behavioural insights that optimize the sales process and personalize the customer experience. Predictive models can determine product recommendations that are most likely to appeal to customers.
When it comes to strategizing sales, data analytics tools can offer insights about supply chain, inventory, and bottlenecks. This helps to direct sales teams on which selling areas they should focus on. For example, if a business has overestimated demand for a product, statistical models can automatically make recommendations to determine the best price for clearance sales.
With automated updates, reports are always accurate at the time of reporting. Sales reps and managers save time compiling reports and can access them from any device with internet connection. With simplified, flexible, and efficient real-time reporting, businesses can make well-informed decisions. This can help businesses to minimize losses. Additionally, they can visualize the results of changes before implementing them with predictive analytics tools.
Another benefit of having access to sales data is that it gives managers complete transparency, which can help when it comes to mentoring the sales team. Managers have visibility into individual progress, as well as agent priorities, strengths, weaknesses, and areas where they may need assistance.
Documentation automation
Document automation allows you to generate documents in a digital platform by using a template or designing it from scratch. The software shares documents via an automated and secure workflow. This eliminates the need for printed paperwork, manual data entry, and email reminders. It also offers improved security while simplifying accessibility and reducing errors. As a result, it improves the end-user experience.
Accounting
Accounting software comes with a range of functions that are suitable for companies of various sizes. This is why you should opt for a software solution that can grow with your company.
The software captures and categorizes financial transactions, sends invoices, and runs automated reports. Some also assist with fulfilling bills and payroll. Automated features reduce errors, save time spent manually processing data, and streamline tax filing.
With instant, professional-looking reports and financial statements, insights are easy to interpret and apply in decision-making. There is no better way to sync all your financial data for optimal finance management.
Sales order processing
Manual and paper-based order processing is tedious, slow, and prone to human error. Automated tools fast-track sales order processing by capturing incoming data immediately. At the same time, the system sends order documents and information to the appropriate staff for processing.
This not only improves order fulfilment efficiency and customer service but also speeds up the order-to-cash period. Sales order processing software securely stores details and allows easy access to information from any mobile device.
Sales order processing ultimately allows the business to process more orders and generate increased income in a shorter time span.
The digital sales revolution is here: time to upgrade your sales tech stack
While B2C companies set the stage for early adoption of digital sales technology, B2B companies were a little slower to jump on the bandwagon. By hesitating to switch to digital sales solutions, some businesses began to fall behind.
B2B companies who have not updated their sales tech are up against competitors who are pulling out all the stops. They’re effectively implementing online demos, videos, live chat, comparison engines, and instant quote calculators. They’ve equipped sales reps with tools to engage with buyers strategically. Their sales interactions are also more time-efficient with live video conferencing and real-time demos.
To remain relevant and handle the demands of the modern market, sales teams need the right tech. They need tools to help them to maximize productivity while fostering personalized customer relationships. Data analytics and automated sales insights are no longer nice-to-haves. These form the backbone of effective decision-making and sales training.
With the right software, digitizing your sales process doesn’t have to be complicated. Skynamo’s CRM software has all the features your business needs to drive efficient sales processes to meet evolving customer expectations.
The platform is scalable, allowing you to adapt processes as the business grows, without hindering the sales process. With Skynamo, field sales reps have on-demand access to a host of information. They can access customer data, updated pricing, and the most recent product information, anywhere, at any time, from a mobile device. Skynamo’s task automation minimizes manual administration and tracks sales activities in real-time.
By digitizing sales processes with Skynamo, your sales teams can use a mobile device to generate quotes, check inventory, and issue orders. We’d love to chat with you to explore ways Skynamo can resolve specific pain points in your field sales management workflow and drive your business to new heights.
To say that the pandemic caused a seismic shift in how the world does business is an understatement. In particular, the B2B market learned firsthand that surviving the COVID-19 landscape meant moving away from conventional field sales methods. This includes embracing eCommerce, even at the expense of in-person interactions. Surprisingly, B2B buyers made it clear they prefer to make deals digitally. What’s even more surprising is that B2B sellers are also welcoming the shift.
When the pandemic was first declared in March 2020, many B2B companies bore the brunt of it. Companies were ordered to shut down their offices and plants in a bid to halt the spread of the virus. Only essential businesses such as grocery stores, pharmacies, and food deliveries were allowed to continue operating. Without the means to dispatch field sales representatives to support these industries, B2B companies turned to online channels to continue supplying manufacturers with the items they needed to continue operating. As a digital alternative to their typical operations, eCommerce became the primary driver for many B2B suppliers.
Sales teams (and buyers!) embraced the digital shift
When it comes to going digital, many major companies have already made significant investments to offer clients online purchasing options. Years before the pandemic struck, B2B companies launched sales portals and opened customer service channels to provide clients with alternate options. The initial reception, however, was lukewarm. Both buyers and sellers preferred using field sales transactions to evaluate new suppliers, enquire about products, and order items.
When the pandemic made in-person transactions temporarily unavailable, buyers went online en masse. Sellers were only too happy to oblige. According to McKinsey, both parties gave the following reasons for shifting to digital:
Buyers feel safer making online transactions during a pandemic, especially during lockdowns.
Sellers save on transportation and representation expenses without endangering the sale.
Both parties enjoy 24/7 convenience and availability when ordering, in contrast to limited business hours for in-person field sales.
Video and live chat takes spotlight
Before the pandemic, it took field sales teams more time and effort to reach out to customers. This push was usually worth it as they got to return to the office with a successful sale. However, the fear of contracting COVID-19 put a screeching halt to in-person field sales. Thankfully, modern technology gave buyers and sellers effective alternatives: video conference calls and live chats.
Obviously, the safety angle remains the biggest reason why both buyers and sellers resorted to using these forms of communication. For sellers, in particular, reaching out to clients through video calls and live chats also helped them to save on travel costs.
The result of using these eCommerce methods? It’s like the field sales process never changed. Buyers continued to buy what sellers offered to sell. Whether through videoconferencing software, live chat, or email, eCommerce saved the day for B2B companies that went digital. By November 2021, buyers who preferred online transactions outnumbered those who had stuck with in-person sales.
Sales is now more data-driven than ever
With the shift to eCommerce, managing data became even more important for B2B companies. In fact, the Gartner Future of Sales 2025 report predicted that six out of 10 B2B companies will make the leap from conventional sales methods to data-driven sales by 2025.
The majority of today’s B2B buyers consist of millennials, making up 60% of the total B2B buyer population. Within that group of buyers, millennials also account for a sizable 30% of lead buyer positions. Sellers now know that if they want to reach this market, they should switch their marketing and advertising to the online channels that millennials (and their next-in-line, Gen Z) frequent. For these digital natives, traditional sales methods aren’t as effective as they once were for older generations. Because of social media’s influence and the age of instant gratification, millennial buyers prefer to do their own sales research.
A bigger digital footprint
The key to capturing the current generations’ interest is listening to them. Knowing how they work, what they look for, and how you can relate to them can help get the conversation rolling. For this to happen, companies need to invest in big data.
Adopting a bigger digital footprint can catch the attention of millennial buyers. Because they like to conduct their own research, companies should create web resources that have all the information these buyers need. Finally, using artificial intelligence and machine learning can help B2B companies to develop automated workflows and streamlined processes. This includes providing critical company or product data to field sales representatives before buyers even ask for them. However, none of these methods are possible without a push to capture and understand customer data.
Field sales have gone online – so should support for them
So, will these improvements in sales technology eliminate the need for field sales teams? On the contrary, these changes can actually help strengthen the capabilities of field sales representatives. Even as the majority of client calls consist of scheduled videoconference meetings or other omnichannel conversations, sales representatives remain the most front-facing employees.
More than anything, field sales teams will need to rely on sales tools such as videoconferencing software, omnichannel support, and collaboration solutions to help keep buyers digitally engaged. Sales reps are making the necessary transition from using mostly-instinctive methods to data-driven and technology-enabled sales efforts. Using cloud-based applications that allow salespeople to provide data and process orders from anywhere (even their homes) can help.
Keep up with field sales trends with Skynamo
Currently, field sales teams remain limited in their physical ability to reach clients who very much prefer the comfort of eCommerce. Whether the post-pandemic world means a fully-digital marketplace or a return of the travelling salesman, having the right tools to complete sales from anywhere is a must.
Skynamo is a field sales application that is designed and built for the modern salesperson. Its cloud-based access provides users with customer and product information that can help foster stronger client relationships. The application also helps sales managers monitor their teams’ sales calls and track individual sales rep activities so they can provide coaching at the right time. When a client decides they want to close a deal, Skynamo provides teams with the tools to capture and process sales orders anywhere, anytime.
We’d love to help your sales team efficiently close more deals. Get in touch with us today so we can learn more about your team’s specific requirements and arrange a demonstration.
Mentorship could be the game-changer South African entrepreneurs need, especially as 70% of mentored businesses experience a five-year increase in survival rate. Sam Clarke, CEO of Skynamo, says entrepreneurs are needed now more than ever since they see opportunities, capitalise on these, and, in doing so, create the businesses of the future. But they urgently need support if they are to succeed.
In today’s digital-first economy, data is the new currency. This is why analyzing sales reports has become essential to modern companies’ business. Sales reports enable insight into how agents are performing and what aspects of their strategy need improvement. This allows them to make informed decisions on fine-tuning their processes and improving the overall customer journey.
However, generating sales reports is only the first step in developing a data-driven approach to sales. To help you out, this guide will cover the different types of reports you can create, all of the ways you can analyze them, and everything in-between.
Distributors, wholesalers, and manufacturers rely on numbers to run their businesses. From receivable accounts to inventory counts, data collection and analysis is both crucial and tedious. Even if sales are streaming in, do you understand the impact that sales performance has on your business? If not, sales metrics can clue you in on what is working and what isn’t—and how you can navigate these obstacles to sustainably grow your business.
The presence or absence of customers often determines the success of a company. While having more customers doesn’t necessarily equal success, customer loyalty does. Customer loyalty is a hallmark of successful customer relationship management (CRM).
Staying on top of the success of your business requires knowing everything about your customers’ wants and needs. Because of this, you need a CRM database to manage this treasure trove of information.
When it comes to B2B sales, information is king. However, the information needed isn’t about your products or services. Successful sales come from using data analytics to learn more about your customers and current market trends.
For example, let’s look at how Netflix uses data to enhance its customer experience. Netflix collects subscriber viewing information to create personalized recommendations for each user. They also use data analytics to gather insights on which shows their audience likes or dislikes. Netflix uses these insights to decide whether to greenlight or reject a new movie or series pilot.
Micromanagement is something many do, but few admit. It’s one of the foremost examples of good intentions with often negative consequences. Especially in field sales management, micromanaging is rarely necessary.
Industries and big companies aren’t the only ones that can profit from mobile apps; small businesses and niche markets like the wine industry are benefitting in a big way. Mobile sales apps account for 86% of smartphone use. These compact platforms give wineries a virtual version of their cellar and storefront that can increase their customer numbers and drive sales.
The point of the research was straightforward enough. It was to uncover the truth about what B2B sales companies struggle with, what works for them from a technology and sales point of view, and how they fare in this post-pandemic marketplace.
When determining the most appropriate sales strategy for their teams, B2B companies often use customer sales records. This approach collects data, analyzes it, and then uses it to maintain accurate customer databases.
Tracking this data can help you to monitor your company’s performance among specific demographics and target users. You can then use this information to tailor a sales strategy that optimizes resources and fosters growth for your business.
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