Updated: May 24, 2022
B2B sales is changing and is increasingly characterized by cyber-branding, digital marketing, AI and hyper-automation. New process models and software technologies play a central role here, driving digitization and thus significantly increasing sales efficiency and accelerating the customer acquisition process.
Digitalization in sales is necessary, even if it brings with it a lot of challenges. After all, according to Justin Michael and Tony Hughes, we are dealing with a brutal truth in sales: the majority of salespeople fail, and even in established, market-leading companies, 60-80 percent of inside and field salespeople often fail to achieve their agreed annual targets.
In their book, Tech-Powered Sales, the two gentlemen refer to a study conducted by Revenue Collective and commissioned by Gong, which looked at more than three thousand salespeople and companies from the U.S., Canada, APAC, as well as EMEA, with combined revenues of more than $26 billion.
Michael and Hughes complain that salespeople spend on average only one-third of their time on actual sales activities and often fail to build an adequate opportunity pipeline, demonstrate relevant value in customer conversations, and ultimately close necessary deals.
About 70 percent of salespeople's work can be automated through technology.
Source: Justin Michael and Tony Hughes
With the support of cutting-edge software and technology (illustrated in the infographic below as the Sales Tech Stack), as well as a powerful Messaging and a detailed Playbook, a sales team can close deals much faster by relieving them of internal and administrative tasks and guiding them through the entire Buyer's Journey. Now the salesperson has a clear head and can better focus on the customer and close more deals.
One more thing: the opportunity pipeline or a highly efficient lead generation is key and the be-all and end-all in a Modern Customer Acquisition Model. I'm talking here about a B2B Lead-Engine that builds their company or product brand in terms of Thought Leadership , drives website traffic, generates leads and hands over many qualified opportunity to the sales rep. Now, unfortunately, since every company is set up differently, there is no one-size-fits-all approach to this. However, there are some core elements that generally apply to every company. We talk about this in a next post.
One more piece of info about Gong:
Gong analyzes customer interactions via phone, email, and web conferencing and provides the sales team with various customer engagement insights they need to guide them through the buyer journey and close more deals. Check out their website.