Technology sales are one of the most popular and biggest industries in today's market. With more businesses adopting technology into their daily operations, it becomes increasingly important for these enterprises to keep pace with advancements and changes in the industry. This article discusses six ways in which technology has affected the B2B landscape.
There are so many things changing in the world of business to business technology sales. If you don't know what's going on, it can be difficult to keep up with all of the changes and find success even though your company is making an investment in new technology.
In this article, we'll explore 6 key ways that technology has been changing B2B sales.
These include a major push for social selling, a move to the cloud, and a rapid growth of sales engagement platforms.
Salespeople have been finding it harder and harder to get in front of their prospects lately. With so much competition from other salespeople, website visitors, and more, you need to find new ways to compete. One way is through social media.
In fact, companies are increasingly looking at how well their sales teams are doing on LinkedIn as compared to their peers or competitors as part of the equation when evaluating those team members.
If you aren't socially active with your prospects, then you're simply not going to be considered by many buyers. With just about everyone on Facebook and Twitter these days, social media has turned into one big lead machine for people looking to drum up business opportunities.
If you're not utilizing your social networks as a means to find new customers, then you're missing out on tons of potential business contacts.
LinkedIn provides an entirely separate opportunity to connect with other professionals. And don't forget about Google+ Local, which helps you connect with new customers in your neighborhood.
More and more industries are moving their technology to the cloud every single day. This means that a lot of companies no longer have on-premise servers and software. Instead, they rent what they need from a service provider over the web. This can be great for smaller businesses because it's going to help keep costs down dramatically.
Sales engagement platforms allow salespeople to do things like listening in on social media conversations where prospects are talking about your product or industry, discover information about those prospects, and follow up accordingly. In other words, this new technology allows you to sell more by being more proactive with your approach.
With this type of platform at your disposal, you're going to be able to set yourself apart from other salespeople who don't have access to something like this.
There are a number of different tools that can help you be more successful in your technology sales and one of these is a sales engagement platform. This technology enables salespeople to listen in on social media conversations where prospects are talking about their industry or company's product, discover information about those prospects, and follow up accordingly.
In other words, this new technology allows you to sell more by being more proactive with your approach. With these types of platforms available, sales teams will be able to set themselves apart from the competition because they'll all have access to such powerful tools.
Technology has greatly changed the way B2B sales representatives do business today. We now have online marketplaces, social media networks, and mobile applications that help us to connect with more prospects, stay organized at work, and close deals faster.
More than ever before, technology is helping companies to cut costs, establish their brand name and gain a competitive advantage in the marketplace.
With so many new technologies emerging every day, it's nearly impossible for a B2B sales rep to know everything about each company he or she is trying to sell. Fortunately, there are various types of intelligence gathering tools that can help reps locate new leads on a daily basis without having to leave the office. This includes using search engines and business directories, social media, and even email marketing campaigns.
Nowadays, it's more important than ever for companies to keep track of their sales pipeline because technology has made it easier for competitors to steal deals that were once considered safe. Using an advanced CRM system can help reps manage contacts and compile detailed reports on every new lead they come across.
When a customer asks about something he or she found online, sales representatives need to be prepared with the right answer in a timely manner. Thanks to mobile apps and websites like YouTube and Wikipedia, customers can get solutions instantaneously they're still on the telephone with someone else.
Since there are more competitors on the market today than ever before, reps can't waste time if they want to land a new client. Using technology to keep track of your sales pipeline can help B2B companies close deals faster by giving them insight into every opportunity that's available right now.
Whether you're looking for business intelligence or analyzing your competitors' prices on an online marketplace, technology is an excellent way for B2B companies to stay ahead of their rivals.
For example, many e-commerce websites like Amazon and eBay use complex software that allows customers to review sellers and search for items based on specific criteria. This helps businesses find out what products are popular and how much they should be charging for them.
In order to stay competitive in today's technology-driven marketplace, it helps to offer a mobile app that can keep your customers engaged with your brand at all times of the day. This also helps to generate more revenue by increasing customer loyalty and putting additional products and services within arm's reach.
Keep these tips in mind as you begin using technology to boost your business' online presence. Not only will this help you gain traction on social media, but it will also attract new leads that could see great success if properly managed.
It's never been easier for B2B sales representatives to grow their businesses faster than ever before, so take advantage of every opportunity that technology is presenting you with today.
Technology is changing sales for businesses and individuals everywhere. Here are six ways that technology is transforming the business-to-business (B2B) sales industry:
Most people use messaging apps like Facebook Messenger to keep in touch with their friends, but it is increasingly becoming a common way for businesses to interact with consumers. A chatbot can be used in place of a human customer service agent to answer commonly asked questions, provide useful information about products or services, and even make product suggestions based on shopping history.
Chatbots communicate through text messages that are easy for customers to follow without having to wait on hold or talk directly to an employee. While not all companies offer chat support, many big names, including Starbucks and Nordstrom, have expanded their use of chatbots in recent years.
While some customers may be disappointed to discover that they aren't communicating with a human, chatbots can free up human employees to answer more complex questions and provide personalized service.
As mobile phone usage increases and many people abandon traditional text messaging plans in favor of apps like Facebook Messenger and Whatsapp, businesses are seeing more opportunities for customers to interact with them through texts. Texting is both easy for customers and inexpensive for the company since it doesn't require creating an account or downloading an app.
Many companies use texting as a way to stay connected directly with customers on a basis by sending out promotional offers and reminders about upcoming sales. Others use text messaging for customer service, to answer common questions, and provide help with product returns or exchanges.
While chatbots and text messaging save time and resources for companies by allowing customers to interact directly with them through their preferred communication mediums, machine learning and automation go a step further by actually making the sale itself more efficient.
By gathering data from interactions with potential buyers, machine learning is able to suggest products that might interest the customer based on what they've viewed or purchased in the past. Machine learning can also be used to automate certain aspects of the B2B sales process by creating predictive algorithms that streamline negotiations between businesses.
Since machine learning is still so new, it might be a while before its benefits are truly realized across the industry.
Customer relationship management (CRM) programs help sales professionals keep track of customer interactions and information from past sales to inform future ones. In the past, many people relied on physical filing systems or notebooks filled with paper notes to keep track of this data, but these practices were limiting and prevented businesses from storing a large amount of data without taking up too much space.
CRMs allow for better organization and access to customer information by allowing users to store contacts, prospects, communication history, goals, and more in one place. While CRMs take time to set up and organize properly, many people use them to track crucial data that will help the company conduct business and find success.
3D printing can be used in a number of different areas, but one of the most interesting applications is its role in product prototyping. Before a new product is mass-produced, it goes through several rounds of prototypes designed to test everything from its functionality to aesthetics.
Until recently, these prototypes were hand-carved or molded for each order and could take months or even years to produce. 3D printers allow products to move more quickly from prototype to finished goods by allowing companies to print durable models as many times as they need. Many companies already find value in 3D printing and plan to use this technology more extensively in the near future.
Virtual reality (VR) allows customers to explore products and test features that may not be available in stores. Instead of buying a product without being able to examine it up close, potential buyers can use VR headsets to virtually try out the item before purchase. Given the high cost of many new technologies, virtual reality could allow companies to adjust their business models by selling items online rather than exclusively at brick-and-mortar locations.
With so much changing in the world of sales every year, it's important for B2B businesses to stay on top of trends and adapt quickly when necessary. This article provides just a few examples of how technology is affecting sales today and how it will continue to change the future.
As new technologies emerge and old ones improve, companies of all sizes will need to adapt in order to stay competitive and successful. By staying ahead of the trends and focusing on what works best for each customer, B2B businesses can continue building fruitful relationships with new clients while maintaining positive associations with past customers.
B2B sales have evolved in the past ten years. Technology is opening up new opportunities and changing how we do things. Some of these changes will occur within the next 10 years:
Customers want to buy when they want to buy, not when we want them to buy. This is shifting more control into the hands of customers, who are using mobile devices for on-demand purchasing. Companies need to make sure that their products are available on-demand, instead of forcing customers to follow an inflexible schedule or wait until after standard business hours.
Customers also expect companies to be available 24/7 through off-hours customer service, social media, and web chats.
Social media continues to take over the world. It's already a leading way for customers to communicate with each other about their favorite companies, products, and services. Over the next 10 years, social media will continue to play an important role in B2B sales.
Changes are likely in how companies interact on these networks, particularly during the early stages of the buying cycle when they are trying to understand how prospective clients are solving their problems today.
Many companies are still learning how best to use Twitter, Facebook, and LinkedIn in selling situations. Some good news is that there will be more consistency in these channels because marketers won't reinvent the wheel every time they launch a new social media campaign.
Want to reach business clients on the go? Today's B2B buyers are more likely to turn to webinars for product information, industry updates, and product demonstrations than ever before. It's an easy way for companies of all sizes to market their products with virtual events.
The popularity of webinars will continue because no scheduling is required, it's easier for salespeople to share screens during presentations, there is less pressure on salespeople because customers can't interrupt them as easily as in-person meetings, and webinars are affordable compared with traditional live roadshows or trade shows.
More sales are being completed on smartphones and tablets, so it's important for companies to have a mobile presence. This means building websites that work on any device, making products available through B2B eCommerce sites, or selling via m-commerce apps on consumers' phones.
It also means equipping salespeople with technology that helps them complete more sales while they're on the go. A study has found that more than half of U.S consumers already use their smartphones while watching TV to check email or surf the web while they watch programming. More are likely to turn their devices into an extension of themselves when it comes to buying decisions in the future.
The role of sales leaders will change because companies are embracing new technologies at a much faster rate than the skills that are required to successfully implement them. Even though there will continue to be a need for relationship managers, B2B sales leaders must also have solid technical skills in order to lead successful teams.
Technology problems are inevitable in any business, and it's important for top executives to identify strong, tech-savvy candidates for these roles proactively instead of waiting until they're needed in an emergency situation.
These were just some key points around how technology is changing B2B sales It won't stop there either. There are bound to be some other changes along the way. The key is to keep an eye on what's going on, see how it might affect your areas of responsibility, and adjust accordingly. Having this knowledge will allow you to set yourself up for success in this ever-changing field.
