Sales acceleration can mean many things to many people. Infact, it is a missing layer in the majority of sales stacks who are still relying on CRM tools to store information and weekly meetings to drive sales. These companies are losing out on both revenue and market share. Read on to find out more about three benefits of sales acceleration, what it really means, and how you can use it to power your sales growth efforts.
What Sales Acceleration Really Means?
Typically, when people hear sales acceleration, they immediately think about sales quotas and goals. While that is a critical aspect of it, there’s actually more to it than meets the eye. Sales acceleration refers to an approach where real-time data is driving the sales strategy to boost sales within their business. It is designed for each stage in your company’s growth and incorporates various methods that work best with different types of businesses.
The one common characteristic we’ve seen in all companies who achieve hyper-growth is that they invest in sales acceleration. These leaders understand that standard selling techniques of relying on stale CRM data, ad-hoc deal management through lengthy “20 Questions” meetings won’t cut it when you need to close more deals, faster, and are willing to do what it takes to keep their growth engines firing on all cylinders. What does a company look like that embraces sales acceleration? Their VP of Sales has a plan for investing people, processes and platforms to enhance data-driven agility and flexibility. Any sales acceleration approach requires three prerequisites
- Real-time collection of deal-specific data including buyer-seller activity, Outcomes, contextual data from social web.
- Arming sellers with recommendations from analyzing the data above
- Arming the sales managers with insights to help the sellers
Perhaps an equally important component is inculcate a culture of leveraging the data to complement seller’s strengths.
Benefits of Sales Acceleration
When done well, we see three big benefits across many, many clients across IT Product, Services and Consulting companies.
Win over customers more quickly
Unlike traditional sales, which can take months or even years to close a deal, sales acceleration techniques rely on automated recommendations to win over customers. These recommendations get better with Machine Learning and adapt to customer segment, sales cycles and geographies. With blocks uncovered and removed quickly as a result of these recommendations means faster revenue for your business and much happier clients.
Speed is key in today’s ever-changing world, so anything that can save you time or help you get to where you need to be faster is a good thing. Thanks to sales acceleration technology, businesses no longer have to worry about manually keeping track of leads and tasks associated with each individual client. This means less time spent researching leads and more time spent actually closing deals. Imagine the platform writing the CRM for you !!
Improve customer retention
Customers who feel like they’re getting better service are more likely to stay loyal to you. By helping them in a timely and high-quality manner, you can set your business up for customer retention success—which will increase your sales in the long run. Thus, it pays to make sure all customer issues are dealt with quickly and professionally.
Sales acceleration, like marketing automation and lead scoring, is a valuable part of modern sales development. By empowering your sales reps to focus on top opportunities and providing them with detailed reporting metrics, you allow them to hit their goals while building future success by learning from past wins. You also create a more data-driven environment where salespeople can share best practices without being constrained by subjective criteria. As your SDRs become even more self-sufficient, they are able to move at their own pace based on goals they have set for themselves—which means greater productivity and better forecasting. And ultimately that translates into bigger business for you!
Learn more about KlozeAi and our award winning sales acceleration platform. We will demonstrate how KlozeAi delivers “Real-time GPS” for the sellers and “Air Traffic Control” Dashboard for the Sales Execs. Our scoring technology leverages AI to quickly evaluate and score deal progression by looking at actual communication, then report back to sales management and the sellers. This ensures your team focuses on the best opportunities at exactly the right time. Clients around the world are benefiting from our artificial intelligence innovation to close deals faster, so can you!