Sales-Tech – Driving the future!

Sales is a crucial part of any organization and therefore sales growth is an imperative to stay in the game. Also, it has always been a number crunching area and quite popular with technology advancements. In the last decade, Technology has been transforming business in an unprecedented manner. The trend will continue in times to come. Some of the past trends that we imagined have already become a reality and helped organizations to improve their sales. Still, there are many big trends in sales technology that are expected to hit the stride soon. These will certainly restructure and reshape the sales organizations of the future. 

Looking through the Seller’s Lens, technology trends of future will help in bringing the biggest transformation by:

1.    Increasing the size of the pie:

Machine Learning will help consolidate data, hone customer profiles, and create quality whitespace discovery for future sales motion. It will speed up the data collation and accuracy.

Blockchain will soon become an integral part of the business platform. With its core of enabling transactional transparency across a variety of business functions, it will help in faster data completeness, safer information verification and establish trust. It also will enhance and accelerate the whitespace discovery and augment AI.

2.    Define Market Potential

Understanding the customer’s buying pattern and likelihood of next buy

With quality whitespace data in hand, organizations can delve into sales predictive analytics. They can further identify better prospects, whitespaces in existing accounts, customers’ churns, and of course, optimal deal price. In future, Blockchain will assist in identifying a behavioral pattern of the target group of audience, keeping privacy and safer data validation.

Creating the inclination to buy

Future of sales will be about attracting the customers with content rather than cold calling. Personalized pitch rather than static elevator pitch and offer to help rather than push to sale. To make it happen, AI will help to select the right content from blogs, case studies, white papers, videos, etc., segment the customers, run specific campaigns for the customer, engage across email, web, social, and mobile channels for a complete omni-channel approach, precisely on the right times of the day and weeks to connect. Then collect responses and continue retargeting to reach a meaningful outcome. Here, AI can provide precise targeting across millions of interaction points.

Marketing contents will be further enriched in future using Virtual Reality. This will help in conveying the message faster and improve propensity. In future, with the widespread adoption of IoT, it will allow end to end customer data and businesses will derive meaningful insights to lead personalized marketing strategies.

3.    Sales Lead Qualification & Improved Conversion

Using AI, organizations can do predictive account and lead scoring to better reach the customers and improve chances of conversion. This includes predicting potential customers, identifying specific choices and personalizing the selling process, driving more sales and revenue.

AI can also liberate salespeople from monotonous tasks and data-driven activities, driving meaningful customer engagement. Further, AI-powered solutions will be able to intelligently automate time-intensive, data-driven activities, and execute personalized campaigns of unprecedented complexity, driving meaningful business results.

Sales Force Automation solutions of the future will also incorporate AR/VR demonstrations, in which customers can access a virtual walk-through of a product and it will lead to faster decision making.

4.    Driving Sales Revenue

Machine learning, deep learning, natural language processing, natural language generation, and image recognition, all of which will help driving the productivity, profitability and performance leading to higher sales revenue. Some examples like next best action predictions, virtual assistants, sales bots, proactive sensing, follow up bots, etc. will further fuel the future sales strategies. Not just this, AI along with Augmented Reality will help in sales coaching and improved customer interaction.

5.    Fulfilment

AI and Machine Learning will help in pipeline analysis and deal forecasting. It will also prescribe next best actions, help with revenue planning and resource optimization. In future, IoT will automate renewals and replacement transactions based on usage. It will always disrupt the way customer loyalty will be looked upon. Just making it convenient and better customer experience.

Evidently, the Sales Tech landscape is fast changing and it’s changing the seller’s approach towards selling techniques. Therefore, it’s important for the organizations to stay abreast with the latest technological breakthroughs if they want to stand out their competition.