With 2019 coming to a close, we’ve witnessed remarkable market shifts and trends in sales technology. Be it in the sphere of mobility, virtual reality, cloud, artificial intelligence, etc. there was plenty of evolution in sales and other business tech to help companies remain operational and competitive. Here are some trends in sales tech that are fast proving to be game changers.
AI has led to the rise of intelligent platforms that make it easier to serve customers better. In turn, this helps encourage repeat sales, cross-sells, and upsells. Nearly all sales enablement platforms, including CRM software and systems, are moving toward AI to leverage more of the intelligence and analytics within the platforms.
Intelligent CRM platforms increase efficiencies by using features like automatic replies and personalized messaging. Likewise, an intelligent Salesforce automation (SFA) platform increases productivity by pre-empting the next steps in the sales cycle.
Third-party software can streamline the way sales teams work in Salesforce. For example, GridBuddy helps them connect with customers efficiently and effectively, identify buying patterns, and prioritize opportunities. It also supports the sales team through sales pipeline management, sales forecasting, and the ability to edit Salesforce items in a single view, and more.
By leveraging AI, the Internet of Things (IoT) is already revolutionizing the online tech support experience, improving order tracking, and more. But moving forward, AI is expected to play an even greater role in IoT by further improving customer experiences in both the B2B and B2C space and, in turn, helping to generate more sales. Some of the ways AI in IoT supports the customer experience and sales productivity:
By leveraging the Cloud, sales teams gain increased access to information in real-time, including being able to remotely access sales systems and customer information in the field. Actionable information can be easily pushed to the right salesperson at the right time, allowing for more deals to be closed. And faster access to information accelerates the sales process by reducing reaction time.
By leveraging AI-enabled analytics, digital marketing platforms have become more precise in identifying high propensity prospects. This is because such platforms help salespeople understand which prospects are more likely to purchase and/or purchase more frequently, or represent higher dollar opportunities. This has exponentially increased sales productivity because it eliminates guesswork.
Especially in areas where visual impact drives sales or where implementation of new products or services can be facilitated by such technology, AR/VR is playing a larger role. For example, training employees in many industries, especially those that use dangerous equipment or chemicals, relies more on AR rather than physical objects or chemicals during training sessions. Additionally, AR/VR can be helpful in explaining complex concepts and products to demonstrate value.
AR/VR has proven to be especially effective in industrial sales use cases. In a report, State of Industrial Augmented Reality, from Ventana Research and PTC, research shows AR has helped drive down the cost of selling, increase customer satisfaction, and accelerate the sales process.
It has also been a game changer in retail. According to a recent article in Forbes, Retailers Have a Lot to Gain from AR and VR, benefits of AR and VR use for retailers include improved customer engagement, the ability to use new marketing methods, and more. Examples include how furniture retailers can leverage the technology to help customers find furniture that fits the size of their living space and how beauty products retailers can use “try before you buy” options.
The proliferation of AI and advances in digital transformation have allowed speech recognition to take the place of other input mechanisms in sales tech. By driving data input through voice, the overall experience of using a sales platform can be greatly enhanced.
As many of us learned during Dreamforce last month, Einstein from Salesforce is getting an upgrade that includes:
The above trends in sales tech are evolving the sales industry and creating more lucrative opportunities for sales teams. They make it easier to reach customers and prospects across multiple devices and channels, while delivering a more customized experience in all interactions. Adapting them early could be key to staying competitive.
If you’re looking for ways to streamline your sales process and convert prospects to customers faster, then it’s time to change your game. Explore Validity solutions that propel sales growth and productivity today.