It used to be so simple: a territory, a brand-new box of business cards, and a handshake. Salespeople of yore made do with the simplest tools to deliver decent results; selling a tractor, a clothing line or a dial-up Internet connection is somewhat easier when customers aren’t overwhelmed by aggressive competition and multiple sales channels.
Current events have precipitated the need for businesses to not only react, but plan for the times ahead. Taking in consideration the need for flexibility, the lessons learned during the pandemic about technology, connecting, and communication, getting ready for whatever the future has in store is quite a challenge to undertake.
Because technologies, communication channels, and sales tools have tremendously evolved over the last 5 to 10 years, it’s a healthy practice to audit the efficiency of the sales department’s tools and methodology. And yes, technology can boost your sales team results, but any experienced salesperson will agree that, in any market, the art of closing a deal is paramount. The goal is to balance the valuable knowledge and expertise of your existing sales function and streamline your business with smart and efficient tools.
We do not know what to expect from future socio-economic and political events. We do know, on the other hand, that markets are evolving into specialized segments. Using data to better understand those new business opportunities and allow our teams to work their magic is our vision of a good pivot. It is how a business reviews its practices, harnesses new technology and tools, and reinvents itself for the future
In general, people don’t like to be sold something. They usually look for information, expertise, recommendations to make an educated decision. The current market is leaning towards a different customer relationship dynamic, where the salesperson acts as a consultant and works hand in hand with clients to deliver a customized solution.
Looking ahead, we can safely state that cold calling will lose ground to other strategies, as businesses are, for example, shutting many landlines. Sales teams get ahead by building relationships with prospects by providing expertise relevant to the market and the industry’s standards and challenges. With the various strategies that CRM technologies can provide, sales teams can connect with prospects and clients and nurture relationships into fruitful partnerships.
No more “now or never” closing strategies.
It is now easier than ever for customers and purchasing specialists to acquire valuable knowledge about products and services online. When the sales team is involved in product management and customization, they can leverage their in-depth industry and product knowledge to deliver compelling and relevant proposals. Better yet, they can bring in other experts such as solutions architects to address the prospect’s actual needs and challenges.
When sales programs are backed by thorough marketing data and lead generation programs, they can focus on qualified leads and offer relevant and tailored business solutions. When sharing their expertise and best practices with potential clients, salespeople acquire a better understanding of the marketplace and highly profitable insight for the marketing department. The relationships fostered using the consultative approach often delivers higher potential, high return, and referral opportunities.
By harnessing CRM technologies, businesses can connect with their existing and potential clients on multiple levels. With customer profiles, usage, engagement, and conversion data, strategic decisions are a few clicks closer. A powerful analysis of datasets and behaviours allows for better conversion rates at a lower cost.
Clients are also more inclined to make allies out of knowledgeable and generous salespeople; they understand that vendors need to be at the top of their game to get an edge in the market. When that edge is built on industry data, core competency, and best practices, vendor selection gets that much easier.
CRM platforms allow various sales personalities like the Closer, the Farmer, and the Hunter to work together harmoniously in the customer purchasing cycle and your business sales cycles, while ensuring they are aligned. The result? A powerful, concise, and consistent message to prospects and clients; they know they can expect knowledge, support, and solutions from their consultants.
It sure does. Relying on proven and powerful data to connect mindfully with a client feels less like a sales call and more like a business partner meeting. The sales pressure of each exchange is lessened in favour of an engaging exchange between professionals in need of a service and the experts who can provide it.
The CRM tracks every interaction and allows the salesperson to know exactly at which step of the buying cycle the client is at. The system also suggests next steps, alternative options, and further data, a process owned by the marketing department to enable the sales team to exceed expectations. The buyer’s journey focuses on customization and collaboration and supports a higher retention rate.
As previously mentioned, people don’t like to be sold. That’s the reason why we are seeing more educated customers and prospects. The democratization of information positions every business one Google search away from their competitors. Consultative selling is our outlook for the future. For that, you need good insight and information, which CRM provides.
To find out more about CRM technologies, give us a call today. At Solutions Metrix, we know how to build relevant CRM strategies and solutions. We look forward to partnering with you to plan how to win 2025.