Did you know that the global sales force automation software market will boom at a CAGR of 8.3% from 2020 to 2027? More and more sales leaders are empowering their teams with the next generation of sales technology. You should too.
In this post, we will share 8 important tools for sales teams.
1. Prospecting Software
Prospecting is a business activity that precedes most everything. Done mostly by sales reps, it is used to figure out who the potential customer is by targeting people who are unaware of the brand and unsure if they need your products or services.
It is a short-term, one-on-one approach requiring a lot of effort and resources. However, it is also a quick way to identify and qualify new clients, then move them down the sales funnel.
Prospecting strategies include:
- Cold calling
- Email outreach
- Text Messaging
Though data for prospecting can be gathered manually through online searches, software like LinkedIn Sales Navigator and Leedfeeder can help boost your pipeline.
2. Lead Generation Software
Lead generation comes after prospecting. It is generally a data-driven activity done by marketers and is a one-to-many approach. It is a long-term, slower method of spreading awareness and gaining engagement from a target audience.
Leads generated this way are pre-qualified compared to prospecting because they are already aware of the products and services in some manner.
Here are some lead generation strategies:
- Landing pages
- Gated content like a downloadable whitepaper
- Pop-up forms
3. Conversation Intelligence Software
Conversation intelligence software lets companies analyse massive volumes of speech and text data from agents and customer conversations using AI, deriving valuable insights.
These insights can identify risky or noncompliant topics of conversation, and coach new sales representatives on best practices, customer pain points, and complaints.
Such software along with the transcription and text of a call also gauges the tone, language, cadence, and technique of the sales rep. Helping them train, pivot, and strategise for maximum customer satisfaction.
4. Customer Relationship Management (CRM) Software
Customer relationship management software is the most effective of all sales tools. CRM software ensures that the lead is nurtured properly and that it passes quickly through the funnel for a boost in sales and revenue.
Here are some of the ways a customer relationship management software can enhance the customer experience:
- It removes departmental silos to offer holistic customer service.
- It gathers all customer data in one place and offers the sales and service agent better visibility.
- It allows for a personalised experience.
- It decreases the first response time (FRT).
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5. Contract Lifecycle Management Software
According to Goldman Sachs, bringing automating in contract management can:
- Speed up sales negotiation cycles by 50%
- Cut inaccurate payments by 75 to 90%, and
- Cut the operating and processing overheads by 10-30%.
Contract lifecycle management (CLM) software helps manage the contract lifecycles of companies.
These contracts may include both third-party or internal contract agreements, like the following: procurement, outsourcing, sales, nondisclosure agreement (NDA), intellectual property (IP), leasing, facilities management, employment, and other licensing and more.
What’s in it for the customers you ask? Not using paper-based contract management, shortening contract life cycles, lessening the time investment by customers, and reducing manual errors with automation – all of these advantages of an enterprise contracts management system ultimately work to build an appreciation of a company’s brand.
6. Business Text Messaging [Text Wrapping Break]
As per a Gartner report, open and response rates for SMS are 98% and 45%, respectively compared to 20% and 6% for email. SMS messages are read in the first 3 minutes, with 82% of people saying that they open every text they receive and 19% of all links in the SMS getting clicked.
Business text messaging is a cost-effective, easy to deploy and highly potent application for businesses who want to appease their customers. Here are some of its main benefits:
- Sending quick, crisp, and digestible messages.
- Ability to send personalised messages.
- Sending offers, rewards, and coupons to reduce shopping cart abandonment.
- Always keeping the customers in the know with business updates, creating deep relationships and thus increasing repeat purchases.
7. Videos Making/Editing Software
This can be an interesting addition to your sales tools. You may not need statistics to convince you of the important of video in sales and marketing. Customers tend to use video as an integral part of the relationships they form with brands, which means it’s time for businesses to prioritise content creation for not only sales, but a better customer experience.
A rich video library can enhance your brand image, boost conversation rates, and relay information more effectively, helping customers to trust you and it can even decrease customer support queries.
You don’t need a production team to make videos either. There are plenty of video making and editing tools out there to get you started.
8. Business Intelligence Analytics
The final addition to your sales toolkit – a BI software that helps boost sales in two major ways.
- Improving Sales Forecast: BI software includes seasonal demand, slow-moving items, causal variables, outliers, etc. to enhance their predictions. Moreover, they give a detailed portrait of sales history aiding procurement and inventory decisions.
- Focusing On Profitable Clients: Your most profitable clients aren’t the ones that buy big – but the ones that come again. The important KPI is Customer Lifetime Value, and a BI software can help you track repeat customers and share their attributes so you can be in search of prospects who will most likely be your loyal patrons.
Now, when being people-centric is prioritised, it is time to arm your sales team with cutting-edge technology to stay ahead of the curve. We hope you found this article of actionable insights. Stay tuned for more.