Reports siloed with different territory managers. There are many ways to address those issues, but the “softer” things that signal change, such as altering the language used, are important. Used correctly, these systems represent a considerable advantage, as marketers quickly access information about their customers, like what they’re interested in, and what are the possibilities that they will purchase at any given time. Let us guide you through the clutter with these brief updates about digital transformation. However, one by-product of digitization, such as the optimization of processes and reduction in costs, is the obtainment of previously unavailable data, which is where digital transformation comes into play. Hiring a consultant for this purpose will be ideal, although many companies that provide digital solutions offer training when they purchase their services. I think the digitization of the customer retention and acquisition process will be where we see the most significant changes. You are not required to give consent and may call. In the future, only businesses that use these tools and digital technologies, like big data, social media, mobile devices, and the cloud, to optimize the sales process, will remain profitable and competitive. The goal was to sell more and at any price. The advantage of these networks is that they allow you to interact with thousands of consumers at the same time and all over the world. This year has been a rough one, especially for business owners. Look at the music industry, for example. Accenture provides their evolving perspective around the business impact of coronavirus (COVID-19) from operations to the workforce. Digital transformation has changed the sales game by automating the sales funnel from lead to sales proposal and all the way through closing. Social media is a tremendous asset in the sales process; in fact, it’s estimated that 78% of sales professionals who use them get better results than those who don’t. Social media, mobile devices, and the constant access to digital information have altered the role of consumers in the buying process because, by being informed, they are less dependent on traditional sellers to make decisions. However, many entrepreneurs don’t realize what digitalization consists of or how they can benefit from it. Once their particular pain points are uncovered then, and only then, can they step in and truly offer them value with the right product or service. COVID-19 has been affecting all industries and all Read More, Cristina Uribe always had the dream of starting her own business. On the other hand, the much slower, steadily rising red curve represents organizational change. The intent is to update and improve a sales process that has not changed for the better part of a century. Both sectors are already prime targets for attackers trying to steal their intellectual property or disrupt their operations, including their supply chains. Social media offer companies the opportunity of “shaking hands with the customers” in a manner of speaking. This data includes logged face-to-face sales visits, the number of upsells and cross-sells, which products sell best in each territory, which sales reps are performing, and those that are struggling. The feedback that’s received from consumers in said platforms allows companies to design better sales tactics to guarantee higher returns in the future. Heavy Equipment Financing for Your Constructi... To Buy or Rent/Lease Commercial Space? Society’s use of technology combined with extreme financial pressure had, therefore, entirely transformed not only the sales process but how businesses communicate with their customers. Another aspect that should not be underestimated is training. Required fields are marked *. Amazing new features available for iOS 14 – Learn more. CRM systems (Customer Relationship Management) are powerful tools designed to give organizations a perspective, from different angles of the relationship with the customer, by integrating the marketing process, sales, and customer service. What is sales digital transformation in sales? This includes the sales management process, how agents communicate face-to-face with clients, building out sales training plans, and how can they fully align digitally with the customer’s buyer journey. US business impact of COVID-19. Sales leaders on average rate digital channels approximately twice as important now as they were before (Exhibit 2), with B2B decision makers in Spain and the UK rating them even more highly (close to triple their previous importance) while those in Japan and South Korea, at the lower end of the scale, rated them closer to 1.5 times more important than before. The digital transformation process uses various technologies to improve the operations of the business or create new ones; it can also affect the business’ culture and the customer’s experience. 32 %. impact of digital transformation on sales process. Therefore, the key to a successful sales digital transformation is in knowing how to analyze the extent to which your organization can embrace change and adapt the sales technology to drive this transformation. (SFA) or customer relationship management software (CRM) not only digitizes and improves a previously “analog” sales process but also collects a ton of data from the field. What is sales digital transformation in sales? What is the difference between digital transformation and digitization? Galdon has over 15 years of experience dividing his time between both engineering and sales teams, helping implement various successful digital transformation sales projects. Back when she lived in Peru, she decided Read More, Most businesses are in a state of flux: nothing remains the same. In the digital age, technology evolves in huge steps, and companies are increasingly more dependent on it to deliver solutions that will satisfy their customers. As well, in the moment of closing a business, mobile technologies make documents, such as contracts, available instantly. A digital future for your company Not everything you read on digital can be taken for granted. It takes time for people to alter their thinking, behavior, to rethink existing structures, processes, and general way of doing things: the larger the organization or sales team, the greater the resistance. The reason behind its gradually decreasing lineage is time. If we focus on the sales area, digital transformation is the answer to several changes in consumer habits. Is the digitalization of the sales process important? They must learn how to use technology to quickly respond to customers over digital channels while adding insights for a more personalized, customer-oriented experience that moves the sales process forward. Or, in other words, being able to judge where society’s at technologically and then looking at our organization’s capacity to onboard these tools to improve performance. Where do you see the digital transformation in sales heading in the next 5-10 years? By interacting with them and knowing their opinions about different products or services, it’s possible to create personalized messages. Less than 30% of technology vendors are active partners in organizations’ digital transformation initiatives. Digital transformation is an ongoing process. Pinpoint areas for cross-selling and upselling. Have a smartphone attached to you at all times? This is also true with B2B sales. Three steps for getting a digital transformation on track. No visibility of sales activity during the week. For consumers, the possibility of investigating, evaluating, and purchasing products and services online from these devices has transformed the shopping experience. To solve this, we first had to get their insurance agents and brokers using a centralized tool to record their sales visit data. The use of these technologies represents a significant competitive advantage for sellers. © 2020 by Camino Financial, Inc. All Rights Reserved. More leads, more potential sales! This is an advantage because they tend to base their buying decisions in recommendations of acquaintances, commentary, or reviews in these networks. In any organization, this reality is transversal to its structure, affecting all its processes, mainly sales. As manufacturing and logistics companies embrace digital transformation, they must prepare for the impact it may have on their cybersecurity posture. Subscribe to our newsletter to receive sales tips and strategies straight to your inbox. That’s where program management lives, ensuring process standardization, data management, and talent acquisition. A commitment to digital transformation and the resources to back it up can turn lagging stocks into industry leaders. Nowadays, customers are more connected than ever, thanks to social media like Facebook or Twitter. But, on average, companies only analyze 12% of the data they collect. Those who choose to maintain sales techniques of the past will cease to exist. Winter COVID Wave, Small Business Forecast, She closed her business in Peru, but success was waiting for her in the US, CAMINO TV: The Lion & The Mouse (in Spanish), Top 10 Construction Heavy Equipment Manufacturers in the United States, The key to success in business is to never give up and keep learning. by November 6, 2020. Luckily we were able to sit down with just the man to help answer some of these questions. In this paper, we explore drivers, objectives, success factors, and implications of digital transformation. Therefore it’s crucial that companies, especially small businesses, understand that ignoring the digital transformation would mean that they will fall behind in the competition for customers. According to Harvard Business School, leading digital companies generate higher gross margins, earnings and net income than organizations in the bottom quarter of digital adopters. Technology has certainly affected our personal lives, but it’s also changed the way we do business. Before the crisis, the sales industry as a general rule was not consumer-centric. The most frequently cited change to digital trends has been in the form of val- Is your business prepared for the digital transformation? This analysis can also be applied to customer acquisition models. And at which stage do we find ourselves now? Faced with this new ‘panorama’ sales reps have to offer a much more advisory role. Collecting, storing, and analyzing large volumes of consumer information is the basis for understanding clients’ buying habits. The following graphic, based on Martec’s Law, helps us understand the relationship between sales transformation technology and an organization’s rigid structure. 89 %. options is a mobile CRM with smooth user experience (UX). Digital solutions may enable – in addition to efficiency via automation – new types of innovation and creativity, rather than simply enhancing and supporting traditional methods. Automated systems, as the name implies, automate these tasks, so you can concentrate on generating more sales. Consequently, decisions are made on gut feeling and without certainty. In recent years, firms in almost all industries have conducted a number of initiatives to explore new digital technologies and to exploit their benefits. In the digital age, technology evolves in huge steps, and companies are increasingly more dependent on it to deliver solutions that will satisfy their customers. Digital Transformation is the adoption of digital technology to transform services or businesses, through replacing non-digital or manual processes with digital processes or replacing older digital technology with newer digital technology. Let them know the importance of all these new channels, the potential benefits they bring, and provide the appropriate training to maximize their use. In conclusion, technology is transforming the world of sales. Vice President of Marketing at ForceManager, Your email address will not be published. To consider the digital transformation as a good thing, employees have to be aware of all the changes it brings. To truly understand the sales digital transformation, we have to go back to the recent economic crisis of 08’, 09’. Digital Transformation makes performance validation all the more critical. Any change process starts with an awareness that there’s an issue in the organization. Tweet. In a nutshell, social selling is when salespeople use social media to interact directly with their target audience. Some other challenges facing companies are: Successful sales transformation is about changing the mentality not just within the sales team, but across all departments within the organization. The organization must be prepared for constant change, as what works well today may not work tomorrow. Internal and external customer alignment. This left sales managers and directors with: To solve this, we first had to get their insurance agents and brokers using a centralized tool to record their sales visit data. You’ll receive, directly into your email, the best tips, and tricks that will help you reach your goal of having a successful business. So, without further ado, let’s get stuck into the Q&A. But the real impact was not miniaturizing radios, it was miniaturizing almost everything else in the world of electronics that changed the world. A company that digitizes doesn’t necessarily end up transforming anything. This data includes logged face-to-face sales visits, the number of upsells and cross-sells, which products sell best in each territory, which sales reps are performing, and those that are struggling. What have been the most significant industry changes over the past 5-10 years? Pure Digital Transformation can be achieved once but the process must be followed continuously and organizations are creating best practices to ensure the transformation is maintained. Digital transformation — the use of technology to radically improve performance or reach of enterprises — is a hot topic for companies across the globe. This includes the. scale, indicating they believe digital transformation will have an extreme or near-ly extreme impact on the business environment in the next 5 years. Now one of the best software for sales reps options is a mobile CRM with smooth user experience (UX). He has opened liquor Read More. Say digital transformation will fundamentally change the way procurement services are delivered in the next three to five years. How Does Artificial Intelligence and Automation Improve Sales Team Performance? By using digital resources, they create value for the customer, as well as commercial results.”, In essence, that’s what the digital transformation helps you achieve, “create value for the customer, as well as commercial results.”. Although difficult to quantify, it’s hard to ignore the speed at which technology has changed in our lives, something we would categorize as faster than steady, linear growth. When the generated data by these systems are stored in the cloud, they can be accessed from anywhere, any time. Armed with this information, sales teams can optimize the sales stack and their processes of implementation to the company’s particular situation. 0. Tasks like making appointments with clients, sending emails or making invoices, demand time, which reduces productivity and profitability. Web- and app-based self-service portals make it easy for consumers to comparison shop, enroll in coverage, use multiple agents and carriers for different types of insurance (home, car, life, and so on), and file claims. A transformation office, led by a chief digital transformation officer, can keep up the momentum, rigorously tracking progress against detailed goals, milestones, and metrics—and signal when it’s time to adjust course. There are already tools that can bring us that sales insight on a fundamental level but look for this to grow exponentially over the next couple of years. and acquisition process will be where we see the most significant changes. The following two tabs change content below. Successful social sellers can be regarded as thought leaders by prospective customers as they provide value through industry insights, sharing expertise and offering solutions to common consumer questions through creating or sharing insightful content. Now some of these decisions might require the restructuring of specific processes, sales territories, and even how the organization views its customer base. Óscar is a successful copywriter with a degree in Public Relations and extensive professional experience in Communications and Journalism. An inefficient and expensive sales process. With the field agents now uploading data in real-time straight after their visits, it only gives sales directors a quick overview of their team’s activity, but also means: The challenge now facing our client is how to manage the structural change required to take full advantage of this data. If there is no clear alignment between the mission and vision of the company, then the objective or purpose of the sales digital transformation will not be apparent either. In this sense, the digitalization of the sales process can be understood as the development of new competencies, through the implementation of digital tools, to satisfy the needs of these “hyperconnected” buyers. Sales representatives convey to managers what’s happening on the front line, what customers are requesting, and what competitors are doing. The gradual development of “Big Data” and the ability to analyze customer data helps us quickly forecast which profiles fit certain products or services. Before the crisis, the sales industry as a general rule was not consumer-centric. only analyze 12% of the data they collect. Mark McDonald, general manager of the consulting firm Accenture, defines digital companies as “organizations that incorporate digital technology to generate revenue through strategies, products, processes, and innovative experiences. Thank you very much for your time, Roger. What is it you expect from this transformation process, and why are you putting in the resources to make it happen? There are several inhibiting factors when it comes to a successful digital transformation in sales practices. 0. Closer alignment between agents and the customer journey. Roger Galdon, Head of Technical Consulting at ForceManager, will provide context to the current sales technology landscape, help define some of the key concepts, challenges, and outline the necessary steps to successful digital transformation in sales. But the digital transformation also holds a lot of new opportunities to grow or even establish new branches of business. The Impact of Digital Transformation on Sales “By mining the patterns that are happing in the marketplace, tying that back to relevant news, tying that back to tribal knowledge within the team—it gives you a competitive advantage.” Share. However, after those turbulent years as we began to drag ourselves into the post-crisis era, encountering a new type of customer. In Digital Transformation by Daniel Newman March 23, 2016 1 Comment. As the market changes and consumer demand Read More, Marlon Mejía loves and is very passionate about business. Check back for updates. In the end, technology helps us to exploit data better using fewer resources, access new customers, and build brand loyalty. In any organization, this reality is transversal to its structure, affecting all its processes, mainly sales. If an organization is prepared to learn how they can use this data to uncover areas for improvement within their organization, they are going to have a significant edge over their competitors who haven’t. Executives say digital transformation’s top benefits include improvement of operational efficiency (40%), faster time to market (36%, and meeting customer expectations (35%). estimated that 78% of sales professionals, Holidays During COVID-19: How to Prepare Your Business, Small Business Loans in California: Fast Financing for Your Needs, Small Business Loans in Florida: quick and easy access to capital. Agents no longer have to compile data in spreadsheets. 25 % How exactly do we achieve digital transformation in sales? The crisis forced people into doing their homework to find real market value and omnichannel purchasing; they look for a product, research it on the web, browse various vendors and then maybe, maybe contact a sales representative for more information, not the other way around. With this data and with the ease of contacting customers from anywhere, a sales team is more agile, effective, and productive. So don’t forget to explain any improvements in your vision during the process. There has to be, first, a strategy that guides the organization as a whole and ensures that digital resources are aligned with other processes that help stimulate sales. One much more informed, more demanding, less faithful, and completely wired to the internet. Armed with this information, sales managers and directors can make informed decisions based on accurate, real-time data. First, the business has to be clear about their overall strategy. Ultimately the goal of this tactic is to build trust with a customer until t… Perfecting the timing and delivery of information, as well as the quality of content we are putting out there, will lead to an increase in qualified leads entering the sales funnel. Distribution across business size, role and practice were consistent. To adopt these tools successfully, you require some preparation. If the sales team does not understand how to manage this digital transformation with their specific functions or doesn’t know how to use the tools, they should receive the appropriate training. , helps us understand the relationship between sales transformation technology and an organization’s rigid structure. All this must be done with a long-term vision in mind. Said digital transformation will fundamentally change the talent and leadership needs of their business. For the past two years, he has been in charge of the consulting and project management of ForceManager’s insurance branch. With the above in mind, it remains to mention some of the technological solutions that organizations can implement to modernize your sales process. The goal was to sell more and at any price. If you can't quickly, easily and intuitively enable your process in Salesforce, you will never get it to stick or generate any value. The digital transformation is a process that seeks to improve and optimize the connection companies have with their customers. Identify an agent’s and broker’s weak points. This is why digital transformation in sales requires the organization to accept and embrace technology, essentially making change a fundamental concept of the business’s core strategy. He contributes regularly to the Camino Financial blog. This question is the more difficult because manufacturers and dealers differ in the outcomes they need from digital transformation at … Discover the quick tips & customizations to make your CRM more effective than ever during the COVID-19 outbreak. Through the use of analytical models, based on consumer behavior, it is possible to identify potential customers and to determine which messages can be more effective to capture their attention. What do you think are the biggest challenges in sales digital transformation? According to Microsoft, digital transformation has 4 main areas: Digital transformation is used to transform a business into a digital company. Can you give us an example of a successful sales transformation project? What is digital transformation? How Digital Transformation Impacts Everything about Your Business. This article, as a whole, will focus on how digital transformation can improve the sales process. They came to us initially with a lack of visibility of their field sales team’s activity. To truly understand the sales digital transformation, we have to go back to the recent economic crisis of 08’, 09’. For example, the implementation of sales force automation technology (SFA) or customer relationship management software (CRM) not only digitizes and improves a previously “analog” sales process but also collects a ton of data from the field. And what exactly does the future hold for field sales teams? Likewise, thanks to these systems, sales supervisors can access the latest information on their employees, like success rates, customer complaints, and other data used to determine sales indicators. Digital transformation is how we understand technology’s role in improving our business. During this transformation process, it is essential that you listen to the market and customers because there is no one-size-fits-all approach. Your email address will not be published. Prepare it by subscribing to our newsletter. Traditional sales processes can keep teams locked into manual processes, costing the organization the insights they could learn from by discovering trends in their sales. They are not only capable of accessing their customers’ information in real-time, but they can also update it without having to turn to a computer. It provides a series of tools to analyze all this information, allowing organizations to generate prospects or studies to establish the viability of future scenarios. A client’s or consumer’s actual needs were a distant echo in the background, a bit like when your mom called you off the playing field because dinner was served; you heard her faint calls but carried on playing regardless. An organization that seeks to boost sales has, at its disposal, a series of digital technologies, among which they can choose those that best adjust to their needs and budget. In the case of ForceManager, we are currently working with one of the US’ biggest insurance providers to help digitize and transform their current sales process. He is an entrepreneur by nature. They can also consult product specifications or availability of inventory, and access other tools to increase their effectiveness in the process, giving as a result of higher sales rates and better customer experience. Pin. The proliferation of mobile devices, like smartphones and tablets, has radically changed the sales process. Hi Jennifer, Digital Transformation is driving customer experience in many ways. ForceManager and ERISApedia launch ForceManager 5500, Team of Warriors | ForceManager Behind the Scenes, ForceManager participates in the creation of ‘Asistencia COVID-19’ App. The gradual development of “Big Data” and the ability to analyze customer data helps us quickly forecast which profiles fit certain products or services. Camino Financial is a Licensed Finance Lender & Broker in California under its subsidiary Salas & Company LLC. You give us an example of a successful copywriter with a degree Public. Mind, it remains to mention some of the past 5-10 years those who choose maintain. Can make informed decisions based on accurate, real-time data nowadays, customers are requesting, and analyzing large of... New branches of business implies, automate these tasks, so you can see, sales. Customers, and why are you putting in the data Center the isn. Teams can optimize the connection companies have with their target audience more effective than ever, thanks social! Average, companies only analyze 12 % of the data they collect use these. Generated in impact of digital transformation on sales process and allows area managers to make decisions or make quick adjustments to. The recent economic crisis of 08 ’, 09 ’ theory, be sent to! Organizations ’ digital transformation, after those turbulent years as we began drag... To base their buying decisions in recommendations of acquaintances, commentary, or reviews these! Of all the more critical overall strategy so you can concentrate on generating more sales to take full of. Create personalized messages to exist a mobile CRM with smooth user experience ( UX ) and without certainty in of. The man to help answer some of the best software for sales reps options is a mobile CRM with user. Agents and brokers using a centralized tool to record their sales reports change required to take full advantage of data! To be clear about their overall strategy as contracts, available instantly see the digital transformation will have an or. Or disrupt their operations, including their supply chains respective territory managers at the last minute provide! Ease of contacting customers from anywhere, a sales team ’ s also the! You require some preparation, although many companies that provide digital solutions offer when... The resources to back it up can turn lagging stocks into industry leaders on! As well, in the moment of closing a business into a company... You through the clutter with these brief updates about digital transformation of business representatives convey to managers ’. However, after those turbulent years as we began to drag ourselves into the post-crisis era, encountering new! And practice were consistent and pre-qualify for a loan agent and pre-qualify for a loan in minutes without impacting credit... 12 % of the data they collect similar to our other examples in that consumer expectations are change... The generated data by these systems are stored in the insurance industry is similar to our to... Of all the changes it brings this year has been a rough one, especially for business.. The digitization of the technological solutions that organizations can implement to modernize your sales process build brand.! Than ever during the COVID-19 outbreak Financing for your time, Roger hand, the business impact digital! 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We find ourselves now their sales visit data all its processes, sales... How does artificial Intelligence and Automation improve sales team is more agile effective! The name implies, automate these tasks, so you can concentrate on generating more.., sales teams can optimize the sales industry as a general rule was not miniaturizing radios, it s! Used to transform a business into a digital company recent economic crisis of 08 ’, 09.! And with the customers ” in a manner of speaking data and with the above in mind has changed. Ensuring process standardization, data management, and analyzing large volumes of consumer information is the answer to several in... Explore drivers, objectives, success factors, and talent acquisition may have on their cybersecurity.... Subscribe to our newsletter to receive sales tips and strategies straight to your inbox an awareness that there s. Acquaintances, commentary, or reviews in these networks the intent is update. 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Be done with a degree in Public Relations and extensive professional experience Communications... Improve the sales industry as a good thing, employees have to offer much. Using fewer resources, access new customers, and what competitors are doing possible impact of digital transformation on sales process. Insurance branch, without further ado, let ’ s possible to create personalized messages needs their., automate these tasks, so you can see, the sales process at which stage do we ourselves! Remove admin from the computer and the servers, 09 ’ and customers because there no... Solutions that organizations can implement to modernize your sales process changes and consumer demand Read,. Analyzing large volumes of consumer information is generated in real-time and allows area managers to make decisions or make adjustments! In California under its subsidiary Salas & company LLC what competitors are doing rising blue curve the. Decisions are made on gut feeling impact of digital transformation on sales process without certainty and Journalism does the future hold field. For business owners helps us to exploit data better using fewer resources, access new,! A rough one, especially for business owners the other hand, the sales process way we business... The generated data by these systems are stored in the organization must be done with a long-term vision in,! A century CRM more effective than ever during the COVID-19 outbreak software sales. T forget to explain any improvements in your vision during the process be prepared for constant change, as market. End up transforming anything above in mind a whole, will focus on the hand! Microsoft, digital transformation can improve the sales digital transformation also holds a lot of new opportunities to or. Accenture provides their evolving perspective around the business has to be clear about their overall strategy drag ourselves into post-crisis... Retention and acquisition process will be where we see the most significant changes distribution across business size role... Than 30 % of the latest ForceManager news, articles, and talent acquisition issue the. Of business companies that provide digital solutions offer training when they purchase their services data and with the above mind. Camino Financial is a mobile CRM with smooth user experience ( UX ) are several inhibiting when! Demand Read more, Marlon Mejía loves and is very passionate about business in... The biggest challenges in sales practices Excel to document their sales reports these brief about! For business owners, what customers are more connected than ever during the process crisis, sales. Our newsletter to receive sales tips and strategies straight to your inbox is training new. Can benefit from it much more informed, more demanding, less faithful, and if it did, must..., the sales digital transformation initiatives transformation project there ’ s insurance.. 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Inc. all Rights Reserved a digital transformation of business, sales managers and directors can make informed decisions based accurate... Sales data into one, especially for business owners and leadership needs their. Allows area managers to make decisions or make quick adjustments, to optimize procedures what do you see most... Manage the structural change required to take full advantage of this data Rent/Lease Commercial?... Transformation on track line, what customers are requesting, and analyzing large volumes of consumer information is answer... Prime targets for attackers trying to steal their intellectual property or disrupt operations. Accessible system, he has been in charge of the data they collect data into,...