Did you know that high-growth companies are more likely to be familiar with the different types of sales technologies on the market? In fact, given a list of current sales technologies, high-growth companies were more familiar with 95% of the categories listed than flat or declining revenue companies, which on average, were 56% more likely to be unfamiliar with each technology.
Of the sales technologies included, participants were most unfamiliar with the 13 listed below. See full study for more.
Here’s a brief overview of each (listed in order, starting with the least known):
1) Sales Gamification
Sales gamification software leverages game mechanics to incentivize rep performance. With features like real-time leaderboards, scorecards, and contests, sales managers can create a data-driven sales team that is motivated to reach their goals.
2) Buyer/Company Intelligence
Buyer and company intelligence tools provide sales professionals the insight needed to get the conversation going. Buyer intelligence can go as deep as understanding personality characteristics that might indicate communication preferences. Company intelligence can provide insight into organizational charts and the relationship between deal influencers within the chart. In our increasingly account-based world, it is important to consider all aspects of buyer and company intelligence to generate persona-specific communication to have more meaningful conversations.
3) Data Visualization/Business Intelligence
Sales teams can make faster and better-informed decisions with software that helps present complex business analytics into easy-to-digest, actionable insights. Data visualization/business intelligence platforms give leaders the ability to connect data sets for deeper visibility and a more accurate, comprehensive overview.
4) Territory and Quota Management Solutions
Territory and quota management solutions assign leads to reps based on geographic areas. This is most useful for field sales teams who need reps to connect with customers in person and need a way to automate the process so they can scale effectively as territories shift and change.
5) Predictive Analytics
Predictive analytics software extracts patterns and trends from data sets using machine learning, data mining, and statistics. Sales managers can leverage this to develop accurate forecasts with reduced pipeline risk. They are able to spend more time on accelerating sales processes and coaching reps.
6) Incentives and Commissions
The compensation process for incentives and commissions can be automated with software to reduce overpayment errors. Reduced errors also means a decline in disputes, resulting in an increase in rep productivity.
7) Sales/Content Enablement
Sales enablement software simplifies the process of connecting prospects with relevant content. Sales reps are able to easily find, present, and share targeted content that help them have better conversations and move deals through the funnel.
8) Interactive Presentation
Presentations are a big part of the sales process. The ability to not only show, but customize, product capabilities can make all the difference to prospective buyers. Sales teams can improve the buyer experience with interactive presentations that offer quizzes, audio, video, image, and content galleries. This level of self-service bridges the gap between humans and technology by allowing buyers to engage with content they are interested in as they converse with reps.
9) Sales Coaching Technology
Going beyond onboarding and training tools, sales coaching technology is critical for your sales team’s continued growth. Coaching technology reinforces training and helps sales managers ensure reps are following their proven playbook of tactics. It also keeps reps on track towards developing the skills of a quota crusher.
10) Quote and Proposal Software
Quote and proposal software work with your CRM to pull lead data into, you guessed it, quote and proposal paperwork generated by your sales team. The benefits of such software is that it ensures accuracy and timely delivery so that your reps can keep opportunities moving towards close. Time spent on fussing with details or fixing errors is greatly reduced.
11) Marketing Automation
Marketing automation is not just beneficial for marketing teams, but for sales teams too. Marketing automation technology improves lead management and nurturing which has a direct impact on sales. When sales and marketing can align to leverage the insights gleaned from a marketing automation solution, sales reps have a better opportunity to improve the quality of their engagement with prospects.
12) Sales Dialer
A sales dialer is great for sales teams dealing with a high volume of leads. If your reps are trying to make a lot of calls, a sales dialer will be a gamechanger. Instead of manually dialing through a long list of leads, reps can make calls with the click of a button. Reps can move through leads quicker and errors from misdials can be eliminated.
13) Onboarding and Training Tools
Did you know sales development reps (SDRs) who are onboarded within three months achieve 29% higher performance than those who are onboarded more slowly? Training new hires and getting them ramped up in a timely manner has a direct impact on whether or not monthly quota is attained. Sales onboarding and training tools help boost performance by combining video, mobility, and interactive learning to get reps up and running in less time.
Not sure which technology you need next? This post might help: How to Build an Enterprise-Level Sales Stack.
About the Author: Jaime Lee is the content marketing manager at Velocify. She has 8+ years’ experience creating marketing communications strategies for every type of company imaginable, from non-profit startup to enterprise software. Jaime is a licensed real estate salesperson (DRE #01930210), holds a Master’s in Communication Management from the University of Southern California, and a B.A. in Communication from the University of California, Santa Barbara.