By Fernando Berrocal
The COVID epidemic has altered the landscape around several types of businesses–in different ways. Primarily, it has sped up the conversion of every business operation, including the business-to-business (B2B) organizations, to the internet environment. That suggests that CEOs should make sure their sales staff are equipped with cutting-edge digital skills and online interactive tools to gain customers; without straying from the timeless ideas that will remain relevant in 2023.
It's been some time since anyone proclaimed that "dialing for dollars" remains the most effective method for increasing business sales. There are those holdovers, meanwhile, who believe that while digital has solidified its position, the main work is still based on "boozing and schmoozing". However, COVID-19 has accelerated the shift towards a digital strategy over the past couple of years, with more individuals working from home (or in other remote areas) than ever. These individuals depend entirely on online channels for pre- and post-sale activities.
This is a brand-new world for many business professionals, but that should not pose a danger to any business or workers. For those wanting to learn a better approach to apply what they already know, there are incredible online resources available (and they are becoming more user-friendly every day). Given what technology can do for every type of professional, the future appears very promising and more interconnected to the world. Naturally, this new platform and its new regulations will only succeed if CEOs, Chief Sales Officers (CSOs) and their staff members learn to adapt and embrace them.
Accept the Digital Consumer
It was becoming increasingly obvious that customers were conducting their first research online, not just for business-to-consumer (B2C) enterprises, but also for B2B–even before the epidemic forced everyone to home. According to Forrester research, over 75% of consumers look into products online before making any type of purchase. This implies that having a great website is now necessary for any business (rather than just a business luxury). However, for some individuals, it has long since become the new first impression. It's so crucial that organizations should test prototype home pages with actual clients to choose the optimal version.
The pandemic accelerated B2B's fusion with B2C norms, since few individuals are currently keen to forge face-to-face interactions for different reasons. Those include their health as well as economic and timely considerations (expensive and long trips are generally undesirable). As anybody who thinks this is just a temporary change should realize that many of their peers don't see it that way. Although many B2B businesses may perceive online chatbots and calls to action as invasive tools, that kind of connection is what customers want nowadays. They want independent confirmation as well as a thorough and persuading message. In the online ecosystem, where the struggle can be seen and understood, the soft sell techniques that could be clever in person will merely be drowned out.
Make Technology your Business Ally
Numerous businesses utilize customer relationship management (CRM) solutions as a data repository, but that's not the technology we're discussing in this article. Hyper-automation, digital scalability, and artificial intelligence (AI) are the three important technological areas that Gartner identified that no sales professional should disregard. To effectively combine functional and process silos to automate and support activities, the technique known as "hyper-automation" is used. In other words, more client contacts are being moved online and through digital channels. Customers are becoming more accustomed to these quick–when automated–conversations throughout the early stages of the purchasing process, thanks to chatbots' shown effectiveness.
The idea of employing technology to handle the growing amount of client interactions and sales activities is known as "digital scalability." The need for immediate and precise targeting and interaction is increasing and that will continue, but there is technology available to help. Digital scalability is the use of such automation to quicken the complete process, throughout the entire sales operation, if hyper-automation helps in tasks. According to Gartner, the word "Artificial Intelligence" is essentially just a shorthand for the transition from manual, highly analog decision-making to automated, algorithm-based decision-making. As a result, judgments that previously may only have been based on hard-earned experience are now supported by data and analytics.
Salespeople may utilize various engagement tools that pinpoint the optimum day and time to call someone in a certain sector. Without weeks (or perhaps years) of trial and error, it may have been nearly impossible to acquire that level of intellect. Despite the potential of these technologies, it still requires staff members who are ready to devote time and resources to acquire these skills. This is more than just being familiar with a piece of software; rather, it involves a fundamental change in strategy that places a strong emphasis on the digital experience, makes use of influencers for independent validation, etc. Now, the focus is on creating these ties online.
It's Not Marketing vs. Sales Anymore
While marketers have known for some time that they must be omnichannel, organizations nowadays require omnichannel sales teams. Together, sales and marketing must function as a unified discipline that is starting to be called “smarketing". Marketing plays a crucial role in assisting sales representatives in selecting the ideal locations, bait, and even the device to use to locate unseen customers. Since they first realized the potential of data and analytics, marketers have changed their field. Salespeople may now change their art with modern technology. Systems exist to log conversations, automate a playbook for lead follow-up, and provide real-time visibility into the sales pipeline. Even recorded sales calls may be evaluated using conversational analytics to assess their efficacy. Perhaps the salesman overstepped the mark or didn't allow the customer to speak. This technology adds the same level of scrutiny that has long been expected of marketers, enabling the whole marketing-to-sales process to be meticulously tracked and improved at every stage.
Prioritizing Strategy Above Execution
This is not to imply that traditional marketing tactics are replaced by these fantastic new technologies. All the technology in the world won't help a business succeed if its branding, marketing, and positioning haven't been carefully crafted. Businesses must first concentrate on branding, value proposition, and ensuring that all of these are backed by solid market research. Knowing the customer's pain issues and then explaining the benefit to the end user remain the top priorities. The next step is to create a fantastic website with a call to action and to keep developing material, such as e-books and third-party validation. Technology just makes the process more efficient, rigorous, and visible, which enables businesses to become smarter since it creates a positive feedback loop.
The Connection, Risk, and Hustle Principles Still Apply
This transformation is, in some respects, just a new method to accomplish what salesmen have always done. Building connections, offering value, expressing a compelling value proposition, and developing trust are all still possible with a chatbot, digital advertisements, or emails. Even though these technologies speed up a process, a salesman is still required to move it forward regularly. Not eliminated, the "hustle" has been altered. Many second-generation businesses are unaware of the effort required to create the top of the funnel. There may be more knowledge or better technology, but the momentum that drove the founder's exponential development no longer exists.
The ideal strategy is to maintain the values of the old school (decisiveness, ambition, and a dash of intuition) while using the most advanced technologies. Get that extra speed, rigor, and visibility while never losing sight of the fact that you want to create a business that does so well it will be there for the next revolution.