Sales Acceleration refers to strategies and technologies that help businesses move prospects along the sales pipeline more efficiently. It includes a wide variety of approaches including advanced online research tools, communication tools, email marketing and email tracking, sales leads databases and predictive analytics.
Implementing sales acceleration strategies can:
- Shorten the sales cycle
- Reduce marketing costs
- Increase employee productivity
- Improve conversion rates
- Help you engage more prospects simultaneously
- Improve the bottom line of your business, and much more.
In this post, I’ll explain exactly how sales acceleration works and how it can benefit your business.
How sales acceleration has affected sales prospecting
Sales prospecting has changed dramatically over the past couple of decades. Traditionally, salespeople would use face-to-face visits, phone calls, faxes, and written correspondence to interact with prospects and obtain sales. They would also use very simple technologies to track each client and their position within the sales pipeline.
The growth of the Internet and related technologies created a massive disruption in the sales industry. There are now dozens of technologies which help salespeople identify, track, and interact with prospects much more efficiently. Some of the key differences between traditional prospecting and sales acceleration including:
Randomly targeted prospecting vs Ideal customer profiling
Traditional sales prospecting would often involve door knocking or calling random people in the hopes of locating a valid prospect. Sales acceleration technologies mean salespeople can identify the ideal customer profile for an offer and locate that customer quickly.
Static prospect lists vs Real time buying signals
Instead of going through a list of potential prospects, sales acceleration allows salespeople to monitor realtime buying signals of prospects. This helps the salesperson understand with it is the ideal time to contact a prospect.
Standalone tools vs Integrated tools
Traditional sales prospecting would typically use a standalone application to track the details of a prospect. Sales acceleration uses a large number of integrated tools including customer relationship managers, email marketing tools, social media, and analytics tools.
Transaction vs Relationship focus
The traditional approach to sales and marketing has been to secure a single sale. Once the transaction has been completed, the salesperson simply looks for the next sale. When using sales acceleration techniques, once a prospect turns into a customer, the salesperson looks to maintain that relationship and extract more value from it. This is done using social media, emails, newsletters and a variety of other approaches.
Common forms of sales acceleration
Here are some of the technologies and techniques used in sales acceleration:
Sales lead databases – Central lead databases can dramatically speed up the sales process. They can be used to store valuable information including how qualified a prospect is, what previous interactions have occurred, and where the lead came from. Databases can also incorporate other datasets to give the salesperson more information on the prospect.
Real-time alerts – There are several tools available which alert the salesperson when an event occurs that increases a prospect’s likelihood of completing a purchase. These tools can notify you of everything from a business’ management team changing to a prospect searching for particular product on a website.
Email tools – Email marketing is one of the most useful sales acceleration tools available. It helps sales staff remain in contact with a prospect, directly sending them a variety of new offers in the hope that one eventually leads to a sale.
Business research tools – These tools help salespeople gather valuable information about the companies that they are selling to. Research tools incorporate many forms of data including credit scores and ratings, public financial documents, corporate family trees, business employee information and so on.
Automation tools – These are dozens of automation tools which can accelerate the sales process. This includes phone autodialers, automatic order processing, automatic price quoting, order emails, inventory monitoring, automated restocking etc.
Sales personalisation – Numerous sales acceleration technologies have the ability to obtain and utilise a prospect’s personal information. This can range from email marketing tools that use a prospect’s first name, to social media monitoring tools that give salespeople insight into a prospect’s shopping preferences.
Predictive Analytics – Predictive analytics uses sophisticated algorithms to merge business and marketplace data with the goal of identifying high-value prospects.
Data analytics – Sales teams perform much better if they have access to high-quality data including sales velocity, lead data, campaign effectiveness, transactional data, and so on. Data visualisation tools, which make consuming these types of data easier, can also be extremely useful for sales acceleration.
Contract Technology – This includes software and strategies that are designed to speed up the process of entraining into a contract.
Presentation technology – There are several presentation technologies that can aid sales acceleration. This includes slide and screen share software that allows salespeople to share presentations on a prospect’s own device.
Social selling technology – This refers to tools that use social media to generate leads and form one-to-one relationships with prospects. Social selling is very useful for building brand awareness and trust throughout the sales cycle.
The best way to start using these techniques in your business is to use some sales acceleration software. Get in touch with us today for a free demo.