Sales Acceleration: What it is & How Tech can help

Sales Acceleration strategies help companies move through their sales cycle with enhanced speed, efficiency & predictability. They involve leveraging digital tools & technologies to improve the quality of prospecting, engagement levels, and understanding of buying signals.

As per a research done by global consulting major McKinsey, fast growing companies share in common a much higher propensity to invest in sales acceleration tools for revenue growth.

In this blog, we explore three critical stages in a sales journey i.e. qualifying prospects, engaging prospects, and analyzing prospect interaction and opportunities for tech to accelerate this lifecycle.

Qualifying prospects:

Selecting and prioritizing customer outreach is important for reducing customer acquisition costs and channelling efforts of sales & marketing teams on relevant leads. In this regard, sales acceleration tools can aid validation of business contact information & social media presence of prospects.

Other additional inputs such as a prospect’s financial standing, credit scores or any mention in news can also be extracted via third party integrations to ensure that salespersons are up-to-date during client pitches.

Read about virtual selling best practices.

Demand generation teams need to assess whether the prospect realizes the value in the product and carries the budget & authority to make a purchase. This helps businesses achieve an improved conversion rate.

On,  sales teams can leverage custom widgets to configure standardized customer questionnaires that help pre-qualify leads. These could be designed as per popular frameworks such as BANT and a score could be generated to rank quality of leads. Through CRM integration, both the data points & score generated could be updated against the lead entry.

Engaging prospects:

In concept selling, there is often a need to engage the prospect and demonstrate value in purchase of products or services.

Tools for whiteboarding, calculating pricing and ROI, and sharing customer testimonial videos may enable sales agents to inspire more confidence in the buying process.  Also, noting the Zoom fatigue that plagues people everywhere, it becomes critical to identify when a prospect is losing interest and course correct the pitch to make the most of a conversation. Even once the meeting is over, the responsiveness or engagement of a prospect to shared documents can be used to predict fortunes of a lead.

On, sales agents can gauge the attentiveness of their prospects using a combination of verbal & non verbal cues. Based on past learning of successful buyer seller interactions, the platform can also nudge the agent to perform an activity to engage the prospect better.

Analysing prospect interaction:

Reflecting on quality of customer interactions is important for two reasons.

One, it keeps businesses in sync with changing customer realities and implications for growth.

Second, it is the true test of how well individuals across customer facing teams (sales, customer support or collections) are performing.

Ever since remote meetings on video have become the preferred mode of interaction, there is a great volume of data generated around customer journeys. Any insights from these datasets have significant value for businesses.

On, sales leaders can access high quality visual representations around volume & duration of calls (prospecting, demo & final negotiations), topics discussed, time dedicated to specific sections, and interest level of prospects. Referring to video annotations & transcripts, deep dive of specific interactions to gauge agent performance is also seamless on the platform.

Once these data points are correlated with outcome parameters such as customer feedback and length of sales cycle (from lead to conversion), critical insights on the recipe of an ideal customer call comes forward. These are particularly useful in cutting short the time required for training and onboarding fresh sales recruits.

Also read Go-to market strategy in remote world.

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