Sales today is so competitive that one tool is not enough.
The modern sales team uses several sales software tools that are designed to
improve productivity and decision-making, and automate repetitive tasks. This
set of technology is referred to as sales stack (or sales technology stack).
Of course, this does not mean that every modern sales team
is a lean mean selling machine. Not all sales stacks are created equal; and not
all sales teams are created equal.
As Bill Gates said: “The first rule of any technology used
in a business is that automation applied to an efficient operation will magnify
the efficiency. The second is that automation applied to an inefficient
operation will magnify the inefficiency.”
A business’ sales stack is only as good as their sales
process – a crucial fact to remember once you set out to build your own sales
stack.
What’s In a Typical Sales Stack
There are two perspectives to look at when sampling through
typical sales stack set-ups: the sales rep’s and the sales manager’s.
On the sales rep stack, you have several tools that help
with the different stages of the sales pipeline, including gathering and
qualifying leads, product demonstrations and closing deals. Some examples are
list building and emailing software, lead ranking apps, dialers, screen sharing
apps and, of course, your CRM.
There is significant variation on the manager-side of the
sales technology stack. Here, you’ll find technology geared more towards
monitoring, analytics and management, such as call monitoring, real-time
performance dashboards, predictive analytics and reporting software.
Of course, keep in mind that the ideal sales stack differs
from business to business. A company that deals with a lot of inbound queries
might opt for a stack made up of lead prioritization, routing and call
recording apps. One with more outbound calls would want to have more auto
dialers and call logging tools.
How To Build A Sales Stack
When you set out to build your own sales stack, it’s good to
remember what Brandon Redlinger, Head of Growth at Engagio, an American
software company, said: “A sale is not made based on the tools used. A sale is
made possible through the process the rep used. The tools just makes the
process scalable.”
So, before jumping into the sales stack, take a look at your
sales pipeline first and the processes that you employ.
Consider the following:
- Average number of deals in the pipeline per set timeframe
- Average deal size
- Average deals at each stage of the pipeline per timeframe
- Average sales cycle time
What you’re trying to get at is an accurate measure of your
sales process and the health of your sales pipeline. Do a workflow analysis and
see where you experience gaps and bottlenecks. A sales stack that would truly
benefit your team is one that’s implemented for a tight and efficient sales
process.
Pay attention to the following sales competencies:
Lead Generation – Manual lead generation, while beneficial
for certain industries, is time-consuming. Most businesses benefit from
integrating third-party lead generation software with their sales process.
Examples here include ZoomInfo and Datanyze.
Inbound Call Processing – Improve inbound lead gathering and
lead scoring through tools, such as Leadspace, 6Sense and InsideSales.
Outbound Call Efficiency – Empower your team to become more
effective outbound sales reps through tools, such as Yesware, ToutApp and
Outreach.io. Lessen the bounce rates of email marketing campaigns with
Rapportive, BriteVerify and other tools.
Product Presentation – Improve the effectiveness of your
inside sales team with tools, such as Speakeasy and Join.me.
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