Is there value to a B2B enterprise in adopting a SaaS-based sales optimization software solution? The answer is a resounding yes. Or to be more accurate:Yes…or else!
Maximizing sales outcomes–by both capturing every good opportunity and by maximizing the margins within each sale–is mission-critical to large organizations that hope to sustain growth + profitability during these very volatile times.
But there are hurdles in the way of that:
- Sales teams have difficulty prioritizing which products to sell, especially if they have multiple accounts and end-customers with different buyer profiles and different product needs.
- Finding whitespace opportunities becomes more complex as new customers and new products are added to the mix.
- Sales managers and reps struggle with identifying cross-sell and upsell opportunities within those accounts.
- Sales leadership spends more time on administration and laborious analysis of customer purchase history and trends, cutting into the time they can devote to customer engagement and closing deals.
- Reps rely too much on past successes, selling the same products over and over again to the same customers, which limits revenue growth as other opportunities get left on the table.
Why Adopt a Sales Optimization Software Solution?
A sales optimization software solution can help sales teams vault these hurdles, and if it’s the right solution–by incorporating AI and machine learning to accelerate insights and ROI–it can do so with surprising ease and agility.
1. To maximize engagement with buyers in volatile times
If the pandemic didn’t throw you off your game, we applaud you–but companies need to be maximizing opportunities during both unforeseen circumstances and “business as usual”. A sales optimization solution ensures you’re targeting customers with the right product every time they’re in market.
2. To get data-driven selling insights without consulting data scientists
To expedite the process of developing data-based insights about what prospects or current customers want, it’s best to put modelling right in the hands of your sales team. With the right SaaS sales optimization tool, models can be created and maintained by business users using quick-to-learn intuitive interfaces, removing the need to loop in consultants or data scientists.
3. To prioritize what to sell
It can be tough for salespeople with multiple accounts and different types of customers to know which products offer the best opportunities. That challenge multiplies for B2B sales teams in sectors where they make have hundreds (or more) of SKUs to manage. An AI-powered sales optimization solution gets them up to speed quickly and easily on what products, even in complex catalogs, are most advantageous to sell to specific customers, prioritized by product relevance and opportunity value.
4. To precisely address B2B use cases
There can be any number of very specific use cases your sales team must address when dealing with their customers. An AI-enabled sales optimizer solution leverages data-driven insights delivered by Artificial Intelligence and Machine Learning algorithms which are specifically designed for B2B use cases. It’ll identify, prioritize, and deliver actionable cross-sell suggestions directly into a sales team’s CRM or quoting solution.
5. To stop missing opportunities
With the right software, you’ll stop missing out on cross-selling or upselling opportunities that would otherwise be left on the table using traditional processes. Automating sales optimization means your sales team will be able to estimate these opportunity values by account, prioritizing whitespace across your customer and product portfolio by revenue opportunity.
6. To keep it simple for sales managers
Sales managers have enough on their plate–they shouldn’t have to manage the model. With the right solution, output is provided in existing Sales front-end or quoting tools with relevant, contextual information.
7. To bootstrap your existing pricing and selling systems
Why complicate things? Seamless SaaS integration means the insights you gain from a best-in-class sales optimization solution can be used in any existing Opportunity Management or Quoting Tool. Result: Your entire pricing and sales tech stack performs better.