Why sales technology is important?
The disruption caused by the Covid-19 pandemic has given rise to seismic shifts within every global sector—and that includes the high-octane world of business and technology operations.
Now, faced with deploying large-scale transformative changes that navigate and overcome the fallout of the pandemic, business, and technology industries are having to adapt to rapid marketplace changes via the adoption of technological solutions that reinforce healthy and sustainable operational practices.
With an aim to modernize redundant processes now outdated in a post-pandemic world, business, and technology sectors are turning toward the use of contemporary sales technology tools that aid in readjusting and reaffirming enterprise positioning.
The adoption of sales technology isn’t simply about the implementation of quantitative tech stacks, but the qualitative way in which they are administered.
Turning away from the traditional sales approaches of yesterday, enterprises are taking a more holistic approach by focusing on complete end-to-end improvements that include comprehensive digital adoption, infrastructure upgrades, workforce upskilling, machine learning, algorithmic processes—and even the potential of quantum computing. In this article, we’ll reveal the top six sales technology trends boosting enterprise productivity in 2022.
One trend we can expect to see more of throughout 2022 and beyond is the further implementation of contemporary mobile solutions within business sales operations.
Websiterating revealed that in October 2021, 5.2 billion people used mobile phones—an insane 67.1% of the global population.
This paints a clear picture of the way in which we as a society spend our waking hours, with Websiterating revealing that “Mobile devices account for more than one half of all the time we spend online; their share of internet time is 50.1%.
” With a quarter of all global e-commerce sales expected to take place online by 2025, it doesn’t take a genius to know that future sales operations will rest on a business’s ability to adapt and integrate seamless mobile solutions that facilitate consumer usability.
A report by Dynamic Yield showed that 76% of retail consumption is done online and only 12% of those consumers are satisfied with their online mobile experience.
While the modernization of retail sites may be developing rapidly, there’s still much to be desired from the mobile shopping experience.
The best way to improve on this is by launching a mobile app specifically designed for a business; this will mitigate losing a huge pool of potential customers while helping to solidify brand loyalty, enhance CX, and positively impact revenue way into the foreseeable future.
Websiterating.com also revealed that “Global mobile retail commerce was expected to generate $3.56 billion in sales in 2021.” This should be more than a motivating factor in pursuing mobile solutions for prospective business sales operations.
AR & VR Tech
Despite its connotations with the world of gaming, augmented and virtual reality technology is steadily making waves in the world of business sales this year.
The introduction of cutting-edge immersive technology has opened up great potential for businesses to reach prospective customers through an entirely new medium. With the release of Meta’s Oculus Shift 2 back in 2021, it seems AR and VR technology is steadily increasing in usage every day. Businesses paying attention and utilizing the potential of these new technologies will be in an ideal position to secure an untapped market full of potential.
Soon, consumers may be able to discover, view, and interact with products from the comfort of their home in glorious 3D like never before.
This instantly reinvents the entire consumer experience by allowing customers to engage and propel prospective customers to purchase products they might otherwise scroll past on a traditional 2D webpage. By providing greater access and information on products through this enticing virtual medium, the chance of positively impacting business revenue is a certainty.
Gary Radburn, the director of virtual and augmented reality at Dell, was quoted as saying “Retailers that are using AR find that they’re getting increased sales because people are feeling more familiar and comfortable with their purchase.”
VR and AR technology can also positively impact an enterprise’s sales revenue through unprecedented employee training that can only be achieved through the precision of 3D virtual mediums. By introducing a radical new way to educate and train staff on new products and services, they’re able to gain practical and tangible knowledge and understanding of their sales objectives like never before.
Augmented and virtual reality participation takes the idea of training to entirely new levels. Now, sales teams can simulate sales scenarios, physical presence, and all the unforeseen variables that come with practical work like never before.
And better-trained staff means they’re better equipped with an advanced understanding of how to engage customers and progress them along the sales pipeline—this will ultimately foster a more qualitative B2C relationship that will inevitably drive sales revenue. A report from GetApp revealed that 35% of SMEs planned to implement VR and AR tech back in 2021.
B2B Sales Tools
Modern business-to-business (B2B) marketing and sales are often underpinned by an extensive technology suite critical to fulfilling sales objectives and accelerating operational growth.
The chances of modern business-to-business operations succeeding in the highly competitive sales market are unlikely without the help of technological tools that support an array of tasks. That’s why in 2022 and beyond, it’s becoming ubiquitous for B2B processes to be supported by a contemporary sales stack that acts as an effective foundation on which businesses can operate.
Former B2B marketing parameters have shifted dramatically following the Covid-19 pandemic, which means the adoption of radically new methods are required of B2B companies to successfully adjust to the new ways business sales are evolving.
Due to the increasing use of cloud services enabling remote work, more and more B2B sales operations are turning away from the traditional in-person sales format and toward digitized forms of marketing and communication.
The B2B technology revolution has seen the introduction of software and applications that greatly enhance operational workflow through the use of artificial intelligence and comprehensive digital adoption.
Gone are the days of manual data input where the progress of sales processes is limited by outdated technology. 2022 will see continual use of technology that empowers and supports B2B sales operations with precision.
B2B sales technology has benefited from technological innovations throughout the past decade, and in turn—has pioneered and improved the quality of that technology. Today, it’s increasingly common for B2B technology stacks to cover a wide range of forward-thinking features that oversee the complete sales process.
B2B sales technologies remain at the forefront of data-driven technological innovation, which means we can expect those innovations to become diffused throughout the world of sales. B2B salespersons have an array of advantages when it comes to adopting the latest sales technologies in the field, some of which include cloud computing, social media, chatbots, machine learning, and sales engagement platforms.
Enhanced Communication Channels
Artificial intelligence will find its way onto this list more than once due to its all-encompassing benefits that are transforming and empowering various business sales sectors. In this case, its usefulness comes in (AI) in the form of enhanced communication efforts such as conversational AI and chatbots.
Where a salesperson’s availability proves limited when engaging customers during typical working hours, the power of AI-powered communication technology can provide customers with 24/7 service—allowing the window for potential sales to increase dramatically.
In 2021, 42 % of customer purchases were made via conversation AI and chatbots. Chatbots and advanced AI communication tools allow customers to access information on products and services at any hour of the day.
Conversational AI and chatbots provide multiple benefits in the form of secondary customer support, data collection, and bolstering wider contact strategies.
Enhanced communication channels such as AI and chatbots are a trend we expect to become ubiquitous in sales business operations for 2022.
Automated communication capabilities can enhance the customer experience, resolve customer issues, assist with qualifying leads, deploy automated prompts and even personalize digital marketing efforts based on customer data.
Unlike the collection of data via people processes, AI and other advanced automated communication tools are able to not only offer a high level of informational intelligence but also systematically collect, analyze and diffuse data about the consumer for the benefit of the business.
Machine learning algorithms have even enabled the rise of AI voice bots that use up-selling and cross-selling techniques that have been proven to positively impact revenue growth. The global chatbot market is expected to be worth over $1.34 billion by 2024.
Enterprises risk becoming irrelevant when they fail to utilize the latest automated technological tools required to effectively navigate the highly complex sales processes of today.
In order to meet deadlines and win as many opportunities as possible, sales teams must complete an array of tasks that include corresponding and caring for multiple customers, inputting lengthy data, and post-customer interactions—to name a few.
Implementing automated sales technology tools is undeniably helpful for increasing productivity and improving sales force capabilities.
For most high-level sales teams, time is of the essence, and to complete numerous sales objectives, assistive automated sales tools can greatly maximize their capabilities and allow sales reps to focus on the most important tasks. Automated sales technology can alleviate the responsibility of repetitive data input, handle mundane communication tasks, and manage the demands of a large number of customers.
The utilization of automated assistive tools can benefit sales teams and improve customer satisfaction by decreasing customer response times. Allowing automated tools to fulfill administrative tasks gives sales reps more time to prioritize prospects and allows them to progress along the sales pipeline faster.
When a prospect feels their needs and queries are being met, the chances of converting them into a customer are increased. Turning prospects into opportunities requires consistent communication and a personalized approach.
The more time spent pursuing prospective customers, the B2C relationship increases in value. This means customer loyalty can be better nurtured and repeat purchases are more likely.
The use of automated sales tools have plentiful benefits, more of which include attaining important statistics, accurately defining the sales stages, and simplifying the reporting process.
Artificial Intelligence (AI) & Machine Learning
The high-intensity workload carried out by sales teams means that time isn’t a luxury they can afford to waste. From customer correspondence, inputting statistical data entry, and fulfilling sales quotas, it’s of major importance sales teams utilize tools that improve work performance and remove unnecessary stress.
That’s where AI and machine learning capabilities come in. Artificial intelligence (AI) permeates and benefits a number of major industries from healthcare, finance, manufacturing, and advertising, so it’s no surprise that it remains one of the best technological instruments to optimize and increase efficiency within the sales process.
Enterprises can greatly enhance end-to-end sales processes through the use of sales performance management technology, AI, and trustworthy ML.
Businesses utilizing artificial intelligence see great improvements in decision-making, management operations, data collection, data analysis, product pricing, and workflow optimization. For example, ML does a great job at analyzing and utilizing data to create predictive models that are transparent and provide sales teams with a single source of truth.
Companies utilizing AI machine learning capabilities undoubtedly improve the completion of time-consuming tasks, sales forecasts, sales objectives, customer lifecycle assessment, and the quicker progression of potential leads, prospects, and opportunities along the sales pipeline.
Disruptive technologies such as AI and machine learning are essential tools for effective and actionable sales intelligence.
Outmoded manual systems and processes have long fostered isolated environments that prove inefficient to businesses and sales departments trying to stay ahead of the curve. Businesses must adopt an impartial data-driven approach that provides beneficial sales predictions and insights, and businesses adopting this contemporary trend can expect to remain relevant in the prospective sales environment.
With the highly competitive world of business that requires constant improvements that maintain marketplace perpetuity, enterprises must be able to stay ahead and navigate complex sales processes that cover first-and-last-mile components.
From consumer behavioral habits to the latest sale technologies, enacting a clearly defined digital transformation strategy through the use of ubiquitous digital adoption across all sectors is the key to driving prospective enterprise success.
The Covid-19 pandemic caused disruption to business and technology sectors like never before.
Now, in a post-pandemic world, it’s about overcoming disruption and effectively managing it to their benefit.
This is best done when businesses assume a holistic approach with a focus on technology, people processes, and the means by which to implement them effectively. The global sales intelligence market is expected to reach a whopping $3.4 billion by 2024, rising at a market growth of 11.4% CAGR during the period of the forecast.