Today, the most successful sales teams swear by their sales technology stack. The right sales technology can augment and improve the capabilities of your sales team. But, if you don’t have the right sales technology, you could be giving away a critical advantage to the competition.
For this reason alone, you should strive to acquire the right sales technology. This will enable your sales team to thrive in the modern sales environment.
So, what does it mean when we say sales technology stack? What makes it so critical? Does the sales technology need to be complex? Can I get a single sales technology solution?
In this blog, we’ll try to understand the meaning and impact of a sales technology in your sales performance. This will also help you understand the need and implication of utilizing the right technology for your sales team.
Why your Sales Team Needs Sales Technology
A normal sales process without a sales technology goes something like this.
An internal employee is expected to sift through a large volume of leads and try to pick out a few good prospects. Then, these prospects would be persuaded hard to become paying customers.
Needless to say, this is an ineffective process to acquire actual paying customers. Without an effective way to engage the prospects, your sales team is bound to always try to sell your prospects hard.
Within this process, your sales team is required to handle a massive workload and maximize the number of acquired prospects. But this approach is unlikely to yield either high volume or margins in your sales process.
This means that you need more evolution in your sales operations. Otherwise, it should be equipped with modern sales technology stack.
So, let’s see what a sales technology is and how it can improve your sales performance.
What’s a Sales Technology Stack?
The modern-day sales process is an all-out approach to reach target prospects and turn them into paying customers.
A sales technology stack helps you simplify this process.
A sales technology stack is a combination of software tools that’ll improve the way you manage your sales process. It involves streamlining and automating the entire sales process through a single platform.
This also involves streamlining a large volume of leads, assigning them to concerned sales personnel and engaging those prospects on a long-term basis.
In turn, this will maximize your sales conversions from the point of initial leads to the final paying customers.
Now, let’s see the most useful tools within an effective sales technology stack. This would help you achieve better sales outcomes.
Lead management tool
Once your business builds a reasonable online-offline presence, you are going to receive a sizable volume of online inquiries. As it is, the sales team is expected to handle these inquiries on a one-by-one basis.
Generally, as most of the initial inquiries are junk, this isn’t an effective use of the sales people’s time.
Instead, the sales team should focus on acquiring the right leads and converting them into paying customers.
For this, a lead management software can organize and streamline your incoming leads to uncover more potential sales opportunities.
First of all, an Omni-channel integration will streamline all the generated leads to a single unified dashboard. By managing all leads within a single cloud dashboard, you will be able to pick out the best leads that fit certain parameters.
This helps you take the most proactive decision to convert each lead.
Later, you can manage all your acquired leads on a long-term timescale.
In this way, the lead management tool will significantly reduce the workload and uncover more closure opportunities for your sales team.
Focus on the right sales performance reports
A sales reporting system tied to a sales technology stack can give you much more in-depth sales reports. This goes well-beyond the reports of direct revenue/sales agent.
A normal sales process involves multiple ongoing activities.
Among these, better sales management could improve a number of these activities.
If you are a sales manager, it’s hard to track these multiple intertwined activities. You need to be able to track and optimize the different sales processes. This will improve your overall sales performance.
Without the right sales technology, the sales manager should divide his/her attention between different sales processes.
Needless to say, this is an ineffective method of managing the sales process.
A sales management system combines these different activities in a single dashboard. This allows you to generate multiple reports based on your sales operations data.
Based on these reports, the sales manager can decide which part of the sales process needs extra attention and improvement.
Mobility-based team management
As per research, the sales teams that work cohesively are much more successful than individual sales teams.
On a normal course of a day, the sales team would usually need to handle different sales activities. This makes it hard to manage the sales team as a single salesforce operation.
In this situation, the mobile CRM can become a technology-enablement tool for modern sales teams.
By having a mobile CRM platform, you can assign individual responsibilities for each sales personnel. This allows you to assign the nearest salesperson for any new opportunities. Also, you can track real-time progress and receive updates on the deal progress.
All these factors enable you to beat the competition for every prospective opportunity.
Sales forecasting application
As a sales manager, your sales force should be able to leverage all possible sales opportunities.
Simultaneously, your sales force can’t be too big for your pool of existing and near-future opportunities.
Otherwise, you would be risking your sales team to become less than optimally engaged in your sales process.
In this situation, you need to strike the balance between your sales force strength and available opportunities.
A sales forecasting system based on sales CRM data can help you achieve this objective.
By integrating your different sales processes into a single platform, you can generate reports for all the orders. This will help you predict the overall trend in your demand.
In this way, you can build your most effective sales team that’ll rake-in the most revenue.
The right sales technology stack can simplify and streamline your different sales processes. This will drive higher success in your existing sales operations. You can also integrate multiple APIs to add more functionalities within your sales technology stack.