Sales leaders invest billions of dollars in sales training and sales technology that’s making deep inroads in sales automation and artificial intelligence. But these investments aren’t paying off and according to McKinsey, sales leaders are frustrated with shiny new tools in lead generation not delivering meaningful performance improvements or ROI.
Although sales teams use their advanced analytics to generate significant amounts of sales related insights, they’re not generating increased and sustainable revenues for the following reasons:
Many current lead generation approaches use stagnant marketing (PPC and paid search) resulting in sales insights that don’t identify prospects’ needs accurately and are unnecessarily complex and difficult to translate into viable customers.
There’s usually a strong possibility that your target market isn’t large enough for the product or service you’re attempting to sell.
And since there are only so many prospective possibilities out there, it’s critical to locate them all. But sales teams get mixed results from existing analytics and don’t trust the data.
Experienced sales experts feel their own experience and expertise are either ignored or not reflected in the analytics.
An out of date focus on face to face interactions at the expense of digital or remote in person engagements. Most post pandemic companies are not effectively harnessing online chat and video conferencing, which are increasingly crucial in customer decision making and transform the buyer seller interaction beyond the transactional process.
Customers are unaware of the latest products and services on offer because sales teams are unable to connect with the right leads with the right recommendations.
Customers are quoted prices that are out of line with the market because the sales teams don’t have the most accurate market pricing insights.
Smaller clients in a company’s portfolio tend to be served less efficiently as sales teams focus on the largest opportunities.
The sales and post sales support miss future opportunities because many vendors don’t proactively track installations of their products / services and know when to check in with their customers.
Unless the entire organisation has aligned goals relating to sales and fulfilment, with clear targets and best in class customer experiences, the lack of buy in means that digital transformations involving AI are likely to lose momentum and fail.
Already, many companies who have invested millions of dollars in new digital platforms only achieve mediocre results because their salespeople are not on board and stick to their old ways.
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