6 SALES TECHNOLOGIES ALL B2B COMPANIES NEED

6 SALES TECHNOLOGIES ALL B2B COMPANIES NEED

Companies and sales leaders need to invest in sales technology to remain competitive in today’s marketplace. The number of sales channels and sales opportunities grows every year, and that is unlikely to stop soon. These channels generate an amount of data that is almost impossible to comprehend for a human being. Yet, this data is a company’s most valuable asset.

Sales technology is an excellent way to use your data and make informed business decisions. It allows you to work smarter and process more data, creating real value for your business.

The right sales technologies can help you scale your sales processes, increase the effectiveness of the sales team, and close more deals by providing better insight on multiple levels.

Want to learn how to leverage the power of sales tech to improve your sales’ team performance? We’ll touch on a number of topics in this post!

  • CRM (Customer Relationship Management) Software

  • Video Creating, Sharing, and Hosting

  • Ecommerce platform

  • Website Conversion Tools

  • Sales enablement platform

  • Client Feedback Platform

Let’s dive into it!

The benefits of sales technology for your business

Sales tools help to generate value from data in many important ways:

  • They collect data at all times without much human intervention.
  • Use the data for simulations that help you better understand your clients and prospects. Simulations also let you test theories and see how they work out in the wild.
  • Your decisions are backed by data. This helps you reduce risk and make better decisions.
  • You avoid many “gut-feeling” errors. While technology will never completely replace human beings in sales, the ability to validate and verify with data is a clear competitive advantage.

With the appropriate data, technology helps to answer questions we can’t answer easily. For example, why do clients buy a specific product? While everyone can have a theory, technology can answer the question with data.

Sales technology is not the end, but rather the means. It acts as leverage for your time, your productivity, and resources. With the right technology, you can scale your efforts and accomplish more in less time.

The way to determine how that technology helps is to see how much more you can accomplish when you put it to good use.

You can only improve what you measure, so before investing in technology, know your baseline:

  • What can you accomplish today without the use of technology?
  • How are your current prospecting efforts working?
  • How many leads are you generating?
  • How much effort and how much time do you need to convert a lead into a customer (sales cycle)?

These, and many other questions, allow you to identify where technology can help improve your sales process.

These are some areas where sales technology can give you a definite edge:

  • Qualifying prospects: Instead of guessing, sales technology can tell you which prospects are most likely to lead to a sale.
  • Increase conversion rates: By better identifying qualified leads, sales teams will be in a better position to convert a lead to a customer.
  • Reduce the time to get from prospect to customer: Sales technology can also do part of the sales work on behalf of the sales team, leading to shorter sales cycles.
  • Level the playing field for smaller companies: Sales technology used to require massive investments, but this is no longer the case. Small and medium-sized companies can have access to the same technology as multinationals, at a price that fits their budget.
Invest in sales technology for the right reasons

There are so many tools available that choosing among them can be overwhelming. This can lead you to make one mistake that we see occurring over and over again: falling for the tool of the month. Companies selling these tools do such a great job that you feel the need to include them as part of your arsenal. But that’s the wrong approach.

Instead of starting with the tool, sales leaders should instead ask what they need to accomplish. Start with a goal in mind, and once that goal is clear, only then do you look for a tool that helps to reach that goal.

A typical example of this is the use of a CRM. Many sales managers understand that a tool to manage customer relationships is essential. But having a CRM is not enough. Implementing the CRM to make it valuable requires critical thinking and planning to make sure it collects the right data and produces value-added insights. Otherwise, it’s just a glorified address book.

So, as we look at 6 technologies to boost your sales this year, let’s start with CRMs.

1. CRM (Customer Relationship Management) Software

Sales teams have a love/hate relationship with CRMs. They know it can help them tremendously in their work. However, many companies don’t leverage as much as they can from their CRM. In fact, too often they purchase CRMs for the wrong reasons:

  • To build a list of contacts and prospects. If that’s the only reason, better to use a spreadsheet or an address book. They’re less costly and easier to use.
  • To track the activities of salespeople. This doesn’t help opportunities move down the funnel. All it does is look at past activities.
  • To use as a surveillance tool, by providing more “visibility” and “control” over the sales process. This leads sales teams to resent the tool and not want to use it.

To get the most out of your CRM requires a change in mindset. Instead of using it to track the past, use it to enable salespeople to sell more. The CRM can give them back more time by taking care of time-consuming tasks that provide little value. The tool can also help spur salespeople by providing them just-in-time information that helps them move the sales process along. Understanding the salespeople’s activities becomes a byproduct of helping them sell more.

Instead of focusing on how many sales a person has closed, the CRM can help them focus on the next activities that will help them sell more. For example, what should the next step be in a given scenario? Or, what in the pipeline that requires their attention?

A CRM should motivate salespeople. To be useful, it needs to be user and click friendly. No salesperson craves more accounting software! Instead, it should adapt to their daily life and help them set and track their goals.

CRMs can definitely help with all the situations. . . but only if used and set up appropriately.

CRMs to consider

 

2. Video Creating, Sharing, and Hosting

When you think of sales technology, video may not sit at the top of the list. However, it can do wonders to save time and to build relationships with customers.

Here are just a few ways to leverage video as a sales tool:

  • Customer satisfaction videos to use as testimonials
  • Feedback video from clients
  • Record answers to clients’ questions. Instead of 10 minutes to compose an email, you can accomplish the same in a 2-to-3-minute video.
  • Build and maintain relationships by putting a face on communications.

Videos don’t need to be staged and you don’t need a large production team either. Most of the time, a simple video recorded from a phone or a PC is sufficientScreen recording can be used to great effect, too (for example, when explaining to a customer how to use an app).

Video tools to consider

 

3. Ecommerce Platforms

Ecommerce platforms allow you to sell 24 hours a day, which can lead to tremendous productivity gains. This is true whether you use the platform to sell products or services. And these sales aren’t limited to $19 books or $29 online subscriptions. In China, cars sell online. In North America, you can buy a late-model Tesla with all the trimmings through their website.

A recent survey by McKinsey & Company showed that:

  • 32% of respondents were willing to spend $50K to $500K using end-to-end digital service and remote human interactions for a new product or service category
  • 12% were willing to spend $500K to $1M
  • 15% were willing to spend more than $1M

An ecommerce platform allows sales to occur with minimal effort from your sales team, allowing them to focus on building relationships with clients and selling higher-ticket items. To make use of this technology, all you need is to properly package products and services to sell online.

Ecommerce platforms to consider

 

4. Website Conversion Tools

While many companies focus on getting more visitors to their website, the true measure of the site’s effectiveness is the conversion rate. In a general sense, a conversion occurs when a website visitor’s action turns them into a lead or a customer.

Conversion doesn’t occur only when there is a sale. A conversion can also be:

  • Filling out a form
  • Sending a chat message
  • Booking an appointment

To increase conversion rates on a site, you need to remove friction to convert visitors to leads. It doesn’t have to be complicated or expensive. Many marketing tools and tactics (landing pages, lead magnets, polls, etc.) can help. Marketing and sales aren’t silos.

 

5. Sales Enablement Platforms

Sales enablement helps you bring a prospect to a closed sale. It gives you the ability to understand and manage that opportunity throughout all stages of the sale. It provides you with a clearer understanding of what actions will help move that opportunity one step closer to closing. An effective sales enablement platform helps you look forward instead of focusing only on past actions.

In the past, skills transfer occurred during training sessions. However, if that training isn’t put to use immediately, or if the salesperson doesn’t revise it regularly, eventually it goes to waste. But with a sales enablement platform, the training content (whether sales or technical) can be added to the CRM and used throughout the sales process. For example, if a salesperson is discussing objections with a prospect, the tool can provide just-in-time coaching to overcome these objections.

When you expose the sales team to this information consistently, eventually they retain 90% of the training information, instead of only the typical 10–20%.

Sales enablement platforms to consider

 

6. Client Feedback Platforms

Client feedback has always been a part of sales. The typical process is to send a feedback form or a survey to clients, then use that information as part of the marketing message—usually in the form of testimonials or internal congratulations.

You can also use client feedback tools to upsell or cross-sell without selling. When you reach out for feedback on a purchase or a service they received, the survey tool can collect data from the customers. You can use that data to introduce helpful new services to happy customers.

Certain online reputation management tools allow you to manage customer feedback and also integrate upsell and cross-sell opportunities. And there is no better time to make a new sale than when dealing with a happy customer.

Client feedback tools to consider

Take aways

Sales technology tools are an essential part of today’s sales teams. Without them, you are at a disadvantage against your competitors. When used effectively, your sales team gains a definite competitive edge.

Before investing in new sales technology, take stock of what tools you already have, how they help your team’s performance, and where there are improvements to make.

If you are unsure, contact us. We’re happy to help you out!

OUR PARENTS’ IMPACT ON OUR LIFE & WORK

OUR PARENTS’ IMPACT ON OUR LIFE & WORK

Last week in one of my mastermind groups, I presented a question to my cohort;

“How did your parents raise you that impacted you to become who you are today?”

This became a very powerful discussion of sharing the strengths, traits and values our parents instilled, and how they raised the bar for all of us to become even better business leaders (and humans!).

 

My Dad, George, recently passed away in his 81st year and it has prompted myself, along with my 3 younger brothers to reflect on how he raised us and his unique impact that has shaped who we are – personally & professionally.

 

Our Dad was a one-of-kind man, farmer, brother, baseball pitcher, husband, card player, Dad and grandfather.  Fast-talking & fast-moving. He had an impact on everyone he interacted with, evident by the number of people who chose to attend Dad’s reception to honour him.  We didn’t call it a “Celebration of Life” – as that’s not what our Dad would have called it…”Reception” seemed fitting.  We were blown away by the number of relatives who drove hours to come, along with people who worked on our Dad’s farm all those years ago – each bringing stories, memories & laughter to the day. We know Dad was smiling down on us, though perhaps a bit disappointed that he missed out on such a great gathering of some of his favourite people & that it took his death to bring everyone together again.

 

Our Dad was born on May 25th – the height of tobacco planting season.  Maybe it was the hustle and bustle around the time of his birth that engrained itself into his nature, but he never shook that “go-go-go”. He was the first of six sons born into a hard-working tobacco farming family who immigrated from Belgium. He was a meticulous planner and a true farmer who wanted sons of his own for the farm. As the saying goes, “you get what you get” & despite his hopes for a boy, I was the 1st born child and grandchild. Even though my Grandma was excited to have a granddaughter after raising her 6 sons, my Dad was disappointed. He didn’t have to wallow long however, as our family eventually grew with the additions of my 3 younger brothers. It was a lively household and farm, with 4 very active kids. Mom & Dad were certainly good at channeling our energy into hard work – turning free hands into free labour.

 

Growing up, I was determined that I could do anything my brothers could do on the farm. As a young girl who wanted her Dad’s approval, I worked overtime to be seen as a strong, contributing female, learning how to navigate a “man’s world”. I grew into feisty (tad sneaky) teenager, and eventually, a woman who was well prepared to head into the male-dominated business world, leading meetings and trainings with predominantly male teams. For this, I have my Dad to thank.

I grew into a woman who was well prepared to head into the male-dominated business world, leading meetings and trainings with predominantly male teams. For this, I have my Dad to thank. Share on X

I always knew my Dad loved us – many days it was tough love, but love none the less. When I really wanted to do something fun with my friends growing up, this tough love meant I had to build a good case, proving why it makes sense, to win the green-light from my tough-ass Dad. I can say without a doubt that he sharpened my communication & negotiation skills, which have now been hard at work earning the trust of fellow Sales Leaders to win their business.

 

Our Dad was one of the most efficient farmers (yes, I may be a bit biased). There was a certain way to do things for every aspect of growing tobacco, and he ensured every person who worked for him did things the right way…or “the George way”. As I reflect with my own business and team, I realize this trait may have rubbed off on me too. I set high standards for our Teneo team, our training and engagement. In a recent team meeting we discussed how there is the right way, alternative way and the “Lisa way” of going about a project. I’m more like my Dad than I thought.

 

Dad loved sports, and eventually started coaching hockey and became active in the local hockey association. This was fitting, as he liked to voice his opinion on how to do things and sometimes liked to ”stir the pot”. I still remember him writing a letter to our local newspaper editor, stating how the town’s Minor Hockey Association could run more effectively. He meant well, but our phone didn’t stop ringing for a week.  As a young girl, I hated his “stir the pot” approach for driving change, and it actually swayed me in the opposite direction. I was determined to be more curious, ask more questions, better understand various people’s perspectives, and ultimately “collaborate” for the best win-win possible. This has carried through into my professional career as well, thanks Dad.

Even though humour and deflection were much more his style than publicly expressing feelings, I’m very grateful for what I learned from him and how he shaped me into who I am today. Dad, enjoy your life in heaven; I’m sure you’ve already arranged a baseball game and are running those bases once again.

TOP 5 TIPS FOR EXORCISING PROFESSIONAL GHOSTS

TOP 5 TIPS FOR EXORCISING PROFESSIONAL GHOSTS

With the uprise in technology, new generations entering the workforce, and varied preferences in terms of communication styles, a phenomenon has developed that has become all too common in the sales world: professional ghosting.

It’s a strange phenomenon where potential clients seem to vanish into thin air, leaving us high and dry with no response to our follow-up emails, calls, LinkedIn messages, or carrier pigeons. It’s frustrating, confusing, and sometimes it can really get under your skin!

To address the ghosting you’re faced with, you first need to understand that there is more than just one type.

There’s the classic “disappearing act” ghost, where a prospect simply stops responding to your emails or calls seemingly without reason. Then there’s the “we need to reschedule” ghost, where a client repeatedly cancels meetings at the last minute, leaving you hanging. We also have the “ever elusive” ghost who not even the Ghost Busters could get a hold of, and finally, we can’t forget about the “I’m just not that into you” ghost, where a client gives you the ol’ “we’ll be in touch” brush-off and then proceeds to never speak to you again while dodging all communication.

So how do you deal with professional ghosting? Here are the top 5 tips for exorcising the ghosts from your inbox:

1. Don’t take it personally

Remember, it’s not you, it’s them. Maybe their organization is in a really busy period, maybe they’re overwhelmed or sidetracked with personal matters, or maybe they’re just not interested! Whatever the case may be, your prospect’s lack of action is not a direct reflection of your sales skills. Above all, try to maintain a positive attitude. Rejection is a natural part of sales, and you can’t win them all. Remember that every “no” brings you one step closer to a “yes.” Keep pushing forward and stay focused on your 30, 60, and 90-day goals. Your prospect's lack of action is not a direct reflection of your sales skills Share on X

2. Consider what’s in it for them.

The “let me introduce myself/my company” emails no longer cut it! Your prospecting messages have to convey a strong, compelling reason to meet in order to reduce the risk of getting ghosted. If you can show your prospect why they should care to meet with you and that you’ve done your research to see how you and your service can help them (specifically!) – you’re on the right track to saving the sale.

3. Follow up, but don’t be annoying.

It’s okay to send a polite email or make a quick call to check in, but don’t bombard them with messages. If they don’t respond after a few attempts (I’d recommend no more than 4), it’s probably time to move on.

4. Use humor to break the ice.

If you do get a response after a period of silence, try using humor to lighten the mood and break up any potentially awkward tension. You could say something like, “I was starting to think you’d fallen into a black hole! Glad to see I can call off the search party!”, or “You had me worried – I was about to send out the cavalry!”.

5. Learn from the experience.

If you do get ghosted, take the opportunity to reflect on what you could have done differently. Maybe there was something about your approach that turned them off, maybe you weren’t adapting to their personality or communication style, or maybe you had tried to sell too soon without building strong enough rapport and trust.

 

Professional ghosting is an unfortunate reality of the sales world today, but with a little bit of humor and a lot of persistence, you can navigate this tricky situation and come out an even better Sales Professional. And hey, if all else fails, just remember – there are plenty of fish in the sea, and plenty of potential prospects in the world. Keep on being Strategic, Proactive & Brave!

5 REASONS WHY YOU SHOULD BE STRATEGIC PLANNING NOW

5 REASONS WHY YOU SHOULD BE STRATEGIC PLANNING NOW

Great sales and business results don’t happen by accident or luck. They happen because teams are being strategic, proactive, and brave!

Being in sales myself, I understand the sprint to the finish line! The rush to close out the year strong, hit your targets, and lock-down any opportunities from the past. Strategic planning for the future is easy to push onto the back burner, but as the saying goes – if you fail to plan, you plan to fail!Strategic planning for the future is easy to push onto the back burner, but as the saying goes – if you fail to plan, you plan to fail! Share on X

Now some of you may be thinking; “2023 is coming whether I’ve planned for it or not – I’ll figure it out when it gets here” or “I come up with great plans on-the-fly! I don’t need to start planning yet.”. There are so many benefits to planning right now – from reduced strain on leadership, to having an edge over the competition. Still need some convincing of why you and your team should be making strategic planning a priority?

Check out the top 5 reasons you should be strategic planning NOW:

 

1. Understanding the company’s future plan helps to empower employees & increase accountability

It is incredibly important for employees to understand where their company is headed, why they’re headed in that direction, and the role they play in helping the company get there. It not only helps people to feel connected and organized, but it creates a buy-in and builds accountability!

 

2. Strategic Planning reduces future strain on leadership

Employees with a clear sense of direction require less from managers and leaders. Everyone has a lot on their plates & rarely does a leader have an excess of time to spend monitoring and delegating to-do lists to employees. Micromanagement isn’t needed if you’ve created the right environment and defined the work that needs to be accomplished through strategic planning!

 

3. Waiting until December to plan for the following year is too late

December is arguably one of the busiest months for sales leaders and teams. Everyone is in overdrive to hit their goals, close out any floating opportunities, and get out Christmas shopping! It is incredibly difficult to get teams together for strategic planning sessions, and doesn’t leave much time for any findings to be digested and deliberated. Strategic planning is not something to rush. Planning early in October or November leaves time for employees to consider the strategies, come up with new suggestions, soak-in the information & close the year feeling prepared for what’s to come.

 

4. Strategic planning resets the company’s compass

It’s easy for organizations to fall out of being proactive and into a reactive mode. Strategic planning is the reset for your company’s compass – getting you back on track and back in the driver’s seat. It allows you to see where you may have strayed from your ideal path throughout the year, while mapping out how to navigate your way back to your goal destination.Strategic planning is the reset for your company’s compass – getting you back on track and back in the driver’s seat. Share on X

5. Planning now can give you the upper hand over your competitors

A little planning can go a long way – especially if you’re in a competitive market! Analyzing not only your organization’s performance but also your competition is a fantastic way to pinpoint areas for improvement, growth, and differentiation. The sooner you have this information, the better you can plan and strategize for the next quarter (or even year!).

 

If you’re ready to start strategic planning NOW – download our Strategic Key Account Plan, 3-Year Goal Planning Table, and Ideal Client Analysis templates!

Looking for something to get the whole team on board with Strategic Planning? Introduce some fun, accountability, and teamwork by kicking off a Strategic Planning Workshop – reach out to Catherine for more details!

TOP 5 TIPS FROM EMERGING SALES TALENT

TOP 5 TIPS FROM EMERGING SALES TALENT

Have you ever wished you could get a glimpse inside the minds of your sales team?

  • Do they feel supported?
  • What is challenging them?
  • What motivates them?

If yes, you’re in luck! We had the pleasure of bringing together a panel of 6 incredible emerging sales professionals from a variety of organizations and industries, who are thriving in their roles. They have been in sales anywhere from 7 years to 1 year but one thing they all have in common is that they’re all willing to share their insights and advice with Sales Leaders, to help pave the way for future sales talent!

Top 5 Tips from the Emerging Sales Talent:

1. If you’re looking to attract and retain new sales talent, be sure to evaluate your company culture!

Nearly all of our emerging sales talent panelists stated that a growth-oriented company with a unique or differentiated market position was important to them. Another valuable factor was a culture of support and team unity – knowing that they can ask questions, share ideas, and lean to one another throughout the highs and lows of their sales careers.

 

2. While there are expectations of new talent, they have expectations of their Sales Leaders.

Emerging sales talent crave leaders who trust them to do their jobs. They value autonomy, but still want to know that their leader is available to help and guide if needed.  New sales talent also want a leader who will challenge them and push them out of their comfort zone! Leaders who are willing to give new talent the opportunity to execute their job in their own style, while setting them up for success with the necessary tools and strategies are incredibly valuable to those looking to enter the world of sales.

 

3. Good On-Boarding can make or break talent retention.

Our emerging sales talent shared that starting their career feeling low-pressure from the top down and being informed of their typical sales-cycle length was a major comfort factor. Another on-boarding must; introductions to the entire team. Salespeople understand that there is more to securing a sale than just a meeting between the rep and a buyer – they want to meet and understand the people and the roles that make the company and entire sales process run as a well-oiled machine.

The “sink-or-swim” on-boarding of the past is simply not an effective tool if you’re looking to attract, retain, and develop top talent.

 

4. Looking to attract new grads to your sales team? Money isn’t the only motivator.

Promoting an environment where your candidates know they can learn, try, fail, and still be supported by their leader is a must. Honesty and transparency in your job postings is also crucial for finding the perfect fit. Top talent want to see that there are mentorship opportunities for them, and other benefits such as professional development, commission, travel opportunities, a bonus structure, and vacation days. Another valuable perk to new grads; mental health benefits!

Sales can be tough and full of rejection, especially when you’re just starting out. Candidates expect more than just a salary to hold strong through the hard parts – they want support! Sales can be tough and full of rejection, especially when you’re just starting out. Candidates expect more than just a salary to hold strong through the hard parts – they want support! Share on X

5. They need space to grow, or they may go!

A common piece of advice that our emerging sales talent panel offered to Sales Leaders; show your salespeople a potential pathway for career growth – along with potential for higher earnings – or risk being left behind. Staying stagnant in a role, year after year isn’t appealing to most & hardly fosters company pride and loyalty. Lay out (or better yet, collaborate on) a clear pathway with timelines and KPIs, that can help your salespeople envision a future with your organization that will move them to a role they aspire to hold.

 

Leading a sales team is no small task – and harder yet is understanding the expectations, motivations, and challenges of each individual on your team. While nothing can beat a conversation with your immediate team, the insights provided by the emerging sales talent panelists are sure to set you well on your way to attract, hire, and retain top sales talent.

 

*Contributed ideas by the Emerging Sales Talent Panelists:  Adam GoresRiley MeladySamantha JessomeNick MitchellSpencer Smith, and Grayson Wesley.

RAVING CLIENTS? REQUEST REFERRALS!

RAVING CLIENTS? REQUEST REFERRALS!

With the year winding down, most salespeople have the pedal to the metal to crush their sales targets & start building pipelines for 2022. For some, this looks like persistent cold-calling and follow-up emails on follow-up emails. If this sounds familiar – let me remind you of a magnificent tool called referrals.

I’ll admit, at first I was hesitant to ask clients for referrals because I felt it was asking for a favour. I quickly found out that not only is it a lot less daunting than it may seem, but most people are actually happy to provide a referral (bonus points if you can give them a referral back!).

Over the past few years, I’ve made a concerted effort to ask for referrals. Recently, I completed our yearly analysis & discovered that over 80% of our new business was sourced from referrals!

Still doubting the power of referrals? Here’s the facts:

  • People are 4 times more likely to buy when referred by a friend or colleague.
  • 84% of B2B decision makers start the buying process with a referral.
  • 83% of consumers are willing to refer after a positive experience – yet only 29% actually do.
  • The lifetime value for new referral customers is 16% higher than non-referrals.
  • 87% of frontline salespeople, 82% of sales leaders, and 78% of marketers surveyed agree that referrals are the best leads your business can get.
  • 69% of B2B frontline salespeople, 70% of sales leaders, and 67% of marketers believe that referred leads close faster than other leads.
Source: REFERRALSAASQUATCH.COM

 

From the Buyer’s Perspective:

  • 73% of B2B Buyers prefer to work with sales professionals who have been referred to them by someone they know.
  • 76% of B2B executives prefer to work with vendors who have been recommended by someone they know.
  • Having a personal connection with a Buyer (such as through peer recommendation/referrals) makes you 4.2 times more likely to get an appointment.
  • B2B Buyers are 5 times more likely to engage when someone else introduces them to your company.
Source: referralrock.com

 

Ok, so you’re probably seeing the importance of referrals now, but what next?

Start developing your referral strategy!

 

Don’t waste your valuable referrals – keep in mind the following traits that sellers need to have, to get and keep a buyer’s attention:

  • Healthy respect for their time; it’s valuable to them and should be to you
  • Ability to lead meetings in an organized and concise manner
  • Tenacity
  • A genuine interest in building relationships with their clients
  • Integrity
  • The insights to ask thought-provoking questions that show understanding of the prospect’s business

Be strategic, be proactive, and be brave when asking for referrals to secure more new business & build a strong pipeline for 2022!