Sophisticated tech is good; byzantine is not

Sophisticated tech is good; Byzantine is not

Sophisticated tech is good; Byzantine is not

If you’re investing more time in technology than it’s freeing up for you- is it an investment or a mere liability?

We’ve all had our fair share of experiences with complicated technologies that make most of us want to pull our hair out. It’s frustrating, to say the least.

We’ve also had experiences that are the polar opposite- they make life easy. These platforms and technologies are smooth and intuitive. You get what you need without racking your brains too hard.

Simplicity wins in the digital world. Your customers want seamless experiences with the products and services they interact with; brands that provide ease and convenience with a solid backbone of technology will continue to leapfrog their counterparts that don’t. Because complicated doesn’t always mean intelligent.

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The stacks

If your tech stack is causing your team more problems than it solves, you might be going about building it all wrong. Tech leaders must bring transparency at all levels to break down organizational silos and ensure no team or department is sitting on data it doesn’t share across the business.

If you want to keep your customer, keep it simple- the entire customer experience with tech, processes, and people.

There’s a massive opportunity in simplifying your tech stack. Start with not building any process in isolation- bring it all together. As leaders, it’s imperative to gauge how the dots connect. Ask your team some crucial questions related to the tech stack- which technology acquisition made sense and which didn’t in terms of usage, training, and ROI. Prioritize the processes you want to automate first without jumping on the bandwagon.

Not every fad becomes a trend, and not every product is worth your investment.

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What’s it getting you

Every business unit will face complications, but it’s the difference between complicated and byzantine that matters. If you’re investing more time in technology than it’s freeing up for you- is it an investment or a mere liability?

Have a customer-centric mindset when you buy, manage, or scrap technologies. What makes the end goal easier? New technologies keep emerging in the market with added features; this has also led to tech leaders choosing the best-of-the-breed approach rather than relying on a single vendor.

Modern organizations need specialized, more focused solutions that align with the overall business objectives.

Tech complexity has implications on team composition too. The kind of tools we need and build today rely on different skill sets and constant collaboration; cross-functional teams are the new competitive advantage.

The Editor’s Note

The tech industry works on the premise of adaptive learning, but it’s crucial to gauge the value of technology before you decide to invest in it. Each technology adoption comes with opportunities and risks, and it’s up to the leader to weigh the pros and cons to interpret what makes the most sense for the business requisites and customer satisfaction.

It’s time tech leaders manage change with a result-driven approach because technical debt doesn’t look good on anyone.

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Sales Enablement Trends for 2023

Sales Enablement Trends for 2023

The future of B2B sales is hybrid. Since B2B buyers are using more channels, B2B sellers must, too.

Sales Enablement Trends

Over the past few years, the B2B purchasing journey has undergone a significant transformation and become more intricate. With customers now having more power, they prefer conducting their own digital research while multiple parties are frequently involved in making purchasing decisions.

Over the past few years, the B2B purchasing journey has significantly transformed and become more intricate. Customers now have more power, so they prefer conducting their own digital research while multiple parties are frequently involved in purchasing decisions.

Introduction

As you embark on your journey to devise your company’s sales enablement strategies for 2023, you may be curious about the expected outcomes of your current sales plan.

AI and machine learning are now prevalent, and with tools like ChatGPT leading the way, more sales organizations are incorporating these technologies into their selling procedures. A Press Release by Gartner predicts that by 2025, 75% of business-to-business (B2B) sales organizations will incorporate artificial intelligence (AI) guided selling solutions into their traditional sales strategies. AI technology will play an essential role in understanding their customers’ needs and behaviours to make more informed sales decisions.

By implementing an effective sales enablement program, you can empower your sellers to consistently meet prospects’ and customers’ demands and meet their targets.

Buckle up for the advent of the latest sales enablement trends in 2023

As the corporate terrain transforms rapidly, you must keep abreast of the latest sales enablement trends to promote revenue growth.

According to a Salesforce report, an overwhelming 82% of vendors have had to expeditiously adjust their selling approaches in response to global challenges such as inflation, supply chain disruption, and health safety measures. These trials and tribulations have necessitated expeditious modifications to their standard operating procedures.

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This year, companies will confront fresh challenges and opportunities within the sales sphere, from fluctuating customer expectations to nascent technologies. Here are some of the most salient trends that are poised to make a significant impact in 2023.

The rise of AI-enabled selling

Sales enablement is no longer just a functional process or focusing on distributing the right content to the reps at the right time. We see an increased interest in the marketplace in utilizing artificial intelligence as part of sales enablement. 

AI-powered solutions will help further streamline the process of driving successful sales conversations. Ultimately, it’s all about enabling all those incredible sellers out there, so they can act truly customer-centric and drive top-line revenue.

This can include automating repetitive tasks, providing real-time data and insights, and helping salespeople identify new opportunities. Buyers anticipate brands to support their research on multiple channels, including— email, social media, or other budding channels. The Salesforce report also indicates that 57% of purchasers prefer communicating with enterprises through digital channels. Companies have disclosed that approximately one-third of the agreements they seal is entirely virtual.

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Some examples of AI-enabled selling tools include:
  • Chatbots and virtual assistants that help qualify leads and schedule appointments
  • Predictive analytics tools that enable sales teams to forecast sales and identify high value prospects
  • Personalization and recommendation engines that help salespeople tailor messaging and personalize product offerings for individual customers.

Focused engagement while improving retention

In the contemporary B2B world that has been altered by the pandemic and current economic turmoil, obtaining and retaining talented sales professionals has become a persistent challenge. 

report indicates that in many organizations, the sales enablement function is under the jurisdiction of the Chief Sales Officer (CSO). In contrast, the Chief Revenue Officer (CRO) and Chief Growth Officer (CGO) share the responsibility for 25% of organizations. This shift signifies a larger trend towards a more cohesive relationship between sales and marketing.

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Although the most significant proportion of responses (38%) suggested that sales manage the sales enablement function, with some input from marketing, 77% noted some degree of cooperation between the two divisions, indicating an encouraging shift towards greater collaboration.

One of the most effective ways of maintaining sales representatives’ motivation and involvement is by crafting a sales enablement program that fosters a positive seller experience. A sales advisory council may be established to encourage team feedback, give voice to your representatives and gain insight into building a solid sales culture.

Sales enablement must also evolve to shift to virtual work environments and the growing customer preference for online sales.

Sales playbooks and training sessions should include remote selling techniques and educate reps on using digital tools effectively. Employees must be trained and developed to increase their confidence in their job performance, ultimately maximizing their productivity. Regular coaching should be provided to help salespeople allocate their time and resources, and best practices from top performers should be shared.

Furthermore, enablement-led onboarding procedures may strengthen your sales team by minimizing ramp time and increasing engagement levels for new representatives.

Hybrid Selling: The New Norm for Sales Enablement

The Covid-19 pandemic has changed the game for sales. Remote selling has become the norm, and a hybrid approach that combines in-person and remote interactions is the new standard. Dubbed “Hybrid Selling,” this approach has gained traction due to customer demand for remote-first engagement and the preference of sales reps for this flexible format.

Modern B2B customers seek a balance between the personal touch of in-person interactions and the convenience of remote contact via phone or video. According to an Mckinsey article, over 90% of companies are adopting hybrid selling as their go-to approach, focusing on remote-first engagement. This omnichannel approach offers greater flexibility, scalability, real-time engagement, and profitability than traditional methods.

In today’s world, where remote work is becoming more and more prevalent, hybrid selling is the way forward for sales enablement. By embracing a mix of in-person and remote interactions, companies can connect with prospects more effectively and efficiently than ever before.

Thanks to advanced technology and seamless connectivity, digital engagement is now on par with an in-person meeting. Hybrid selling is here to stay because it simply works. Remote sales reps can reach up to four times more prospects than traditional face-to-face interaction, generating up to 50% more revenue.

Editor’s note

Investing in AI-aided sales enablement platforms has long been considered an additional business expense. However, this mindset may require reconsideration. Sales enablement solutions allow high-performing sales teams to stay ahead of the curve. These technological tools seamlessly integrate with pre-existing enterprise systems, ensuring ease, effectiveness, and use efficiency. Data-driven decision-making boosts revenue growth, and this is particularly significant when customers are cautious about their spending habits in anticipation of an impending global economic downturn. They require unequivocal proof of the value of a company’s products and services before committing to a purchase. You just cannot stay still in enablement. You require constant drive and pure innovation to adapt sales methods to current realities for staying ahead.