Everywhere we look, businesses are trying to brace themselves against the adverse effects of COVID-19. The global crisis has led many organizations to reconsider some of their core practices, including how they connect with customers and market their products. With many buyers shopping from the comfort of their homes, they have the time to analyze websites and get the best deals available. It is all about efficiency these days. With the onset of technology, one can quickly gather that customers want a seamless purchase journey. Sales teams need to be prepared to cater to these changing demands.
Businesses need to ask themselves these crucial questions:
1. Are we aware of the spending patterns of our customers?
2. Do we know what our customers prefer in terms of quality, pricing, and customer service?
3. During sales conversations, are teams accessing meaningful information?
4. On average, how much time do customers spend on a purchase?
5. Is there any reason our client retention strategies are not working?
6. When did we last review the performance of our sales strategy?
7. Are we taking advantage of the latest technology to increase profits?
8. Is there good collaboration between sales, marketing, content management, and research teams?
9. Do we have enough data to generate valuable sales leads?
With the level of uncertainty increasing due to COVID-19, organizations can either scramble to compete or be proactive by making strategic changes within their organization.
Sales Enablement Strategies:
Sales strategies can no longer rely on traditional practices, primarily due to the shift in working protocols worldwide. Sales managers are expected to monitor employees’ performance and sales conversion rates on a more frequent basis for increasing the overall revenue. This expectation is the reason that Sales Enablement strategies have become highly valuable. Sales functions are combined to form a single platform that eventually leads to gradual or accelerated development based on talent and technology usage. To ease the pressure on internal teams, Sales Enablement Platforms provide guidance and practical solutions.
What are Sales Enablement Platforms?
Many Sales Enablement Platforms are providing varied and also unique features for their business clients. Tailored solutions are offered to clients, which are worked out based on their business, collaboration needs, budget, and other expectations. Seismic, Highspot, Brainshark, and Showpad are among the prominent solution providers in the market today. Considering how Sales Enablement Platforms provide an integrated and complete range of solutions for sales and marketing teams, businesses should consider opting for them. Given the challenges faced by teams due to COVID-19, adding impressive technology solutions would undoubtedly ease the burden on teams. We cannot stress enough on providing the right tools for teams to deliver productive results during this crisis period.
The COVID-19 Impact on Sales Enablement in 2020 has been profound. With employees working from home due to safety concerns, businesses find it challenging to share information and record the progress of their sales teams. With sales enablement being an important process that requires a central hub for providing quality services to clients, Sales Enablement Platforms in the market (for instance, Seismic) have been delivering helpful services to clients during this disruption period.
Sales Enablement Platform Market:
In 2020, COVID-19 has influenced the methodology and sales culture of teams. Sales Enablement Platforms (e.g., Seismic, Highspot) have become more popular in recent times. There is a higher emphasis on collaboration, research, and analysis. A customer-centric focus has pushed decision-makers to think about restructuring and digital transformation strategies more seriously.
A recent study shows how the Sales Enablement platform market size is expected to grow from USD 1.1 billion in 2019 to USD 2.6 billion by 2024.
The Sales Enablement Platform market has seen rapid growth. There is increased competition from global companies that design these solutions. Raising capital for development and expansion has been fluent enough, given how the market is tech-related. Investors are more confident about the progress rate and future returns. There are a few challenges, such as the regulatory barriers that could slow down solutions providers from expanding to new markets.
Due to the impact of COVID-19, Sales Enablement Platforms have been taking new initiatives to increase their solutions’ performance. This should be useful in helping businesses cope with the disturbances in 2020. Seismic has been making efforts to enhance its platform and create more innovative solutions for clients. They recently announced additional capital that would accelerate their growth. Details of this news are available here.
The ways customers shop and get their queries resolved are very much different these days. Considering the number of devices used by consumers, Sales Enablement Platform teams have to be ready to provide clients with the necessary information in an organized manner to complete sales more efficiently.
What is Seismic Sales Enablement?
In short, it is a unified technology solution that aims at increasing the productivity and effectiveness of teams. It adds strength to the marketing and sales strategies of businesses in many sectors. Sellers are better equipped with historical records and updated information to help them cater to consumer demands. When we review the features that are being offered by Seismic, it is a well-designed and comprehensive sales enablement solution.
Seismic Sales Enablement Platform includes the regular annual licensing, maintenance, and implementation costs. Businesses should think beyond how much it would cost initially and calculate how much returns can be derived from these investments over the next few years. The use of other redundant technologies can be avoided to make room for such new solutions. This will require a short adjusting period, but the end-results will be promising if teams are focused.
Since Sales Enablement Platforms have become more critical due to the impact of COVID-19 in 2020, why don’t we take a deeper look at some of the main benefits for businesses?
1. It prevents teams from spending time on collating information and evaluating the extent of relevance
2. The data available is accurate and up-to-date
3. They help teams track customer engagement
4. Processes are more streamlined due to the automation of time-consuming content management and updating tasks
5. A personalized customer experience engages users for more extended periods. Offering suggestions and related topics that interest them, it is easier to connect with audiences without being too pushy with direct marketing
6. The content strategy is clear and well-founded on recent trend reports
7. Employee training and seller onboarding is handled systematically
8. All the data required for important decision-making activities and dealing with clients can be easily accessed
9. It ensures that sales teams are more knowledgeable. Customers feel more comfortable dealing with such informed team members
10. There is an increase in the number of completed deals
Companies in many sectors have started spending more on technology solutions in an attempt to increase the value of their business. In the aftermath of COVID-19, there is a higher demand for systematic and integrated technology solutions. Mainly for organizations that want to sell their products through multiple channels, they need to have a more expansive view about purchase patterns and popularity of content in order to capture and maintain customer interest. Sales Enablement is an emerging market, and with the range of solutions, it has revolutionized the way sales and executive decisions are taken. There is more leverage for companies that decide on integrating these solutions into their business.