Technological innovation is the pursuit of improvement. The constant drive to challenge established methods and question existing practices for increasingly better results.
When it comes to your sales and revenue generating activities, adopting this approach has immeasurable potential.
Technology can encourage the emergence of new opportunities or unearth new growth channels. It can rewrite old practices and improve operational alignment.
“The most successful sales teams leverage technology to accelerate the sales process.
So it makes sense that digital leaders drive 5x more revenue growth than their peers.”
McKinsey
A strong digital foundation is tables stakes for long term growth. The right technology can accelerate sales and drive revenue sustainably, setting your business apart from the crowd.
7 Impacts Of Revenue Defining Technology
For aspirational organisations, investigating opportunities for digital improvement should be standard procedure.
Not only in customer facing roles but across the entire business.
Looking at how technology can accelerate sales and drive revenue alone, we’ve identified 7 key impacts that elevating your capabilities can help you to achieve.
Lets dive in…
1 – Increased Funnel Visibility
Utilising one solution to manage all existing opportunities provides crystal clear visibility into the pipeline as a whole.
“Without accurate and time-sensitive insight into your sales funnel, your business will not be able to accurately predict budgets and build effective strategy.”
Docusign
By understanding how many opportunities sit at each stage, and their relative conversion rates, optimisation becomes much more straightforward.
Resources can be reallocated to areas requiring most attention whilst alternative approaches can be found for areas lagging behind.
As a result, you put yourself in position to give each opportunity the greatest chance of getting over the line.
2 – Friction Intelligence
Speaking of areas lagging behind, do you currently know where your active opportunities are getting held up?
And if so, why that is happening?
By using technology to investigate hold ups, mitigations can be put in place and alternatives explored.
Less friction equals greater opportunity velocity. And, consequently, happier customers receiving their desired outcome sooner rather than alter.
3 – Identifiable Best Practices
On the flip side to problem areas, the right technology can shine a light on what good looks like for your business.
Processes that generate the best results. Actions which turn a content customer into a brand ambassador. Messages that resonate with the problem customers are trying to solve.
By finding out what is working, you’ve taken the first step on replication at scale.
Technology can facilitate business wide implementation for the best version of your business, 100% of the time.
4 – Universal Access
Likewise, ensuring everyone on the team is singing from the same hymn sheet is invaluable.
“Collaboration is a no-brainer for any business seeking to improve the customer experience.”
RINGCENTRAL
Rather than having everyone pulling against one another, aligning every contributor allows you to act as a collective.
Having clearly communicated the vision for the company, everyone can now strive together to achieve the goals of both your customers and your business.
Universal access reduces duplication and ensures, no matter the location, each member of your team is fully up to speed on every bit of information they need to be.
Fewer errors means faster execution and an improved chance of conversion.
5 – Time Saving Automation
How much of your team’s time is spent on menial, yet essential tasks?
Now imagine how that time could be put to better use? What impact would that make on revenue/
By automating the necessary but time consuming tasks that make up the sales process, your team can focus on reaching more opportunities at a faster rate.
There is no compromise on service, simply a more time rich team ready to focus their mind solely on better serving your client’s needs.
6 – Right Action At The Right Time
Business intelligence technology can accelerate sales and drive revenue by ensuring you reach the right opportunity, with the right action, at the right time.
“In 2019, 64% of users reported that business intelligence helped improve their efficiency and productivity.
Meanwhile, 56% believe it has allowed them to make more effective decisions faster.
51% also think it has led to better financial performance.”
MICROSTRATEGY
Technology is there to support your staff in their day to day.
By receiving prompts that a customer has gone quiet. Or being notified that a design is yet to be received. Even sending an appointment confirmation email.
No more missed opportunities. No more revenue slipping through the cracks.
Simply the right action, to the right opportunity, at the right time.
7 – Enhanced Internal Efficiency
If internal processes are running smoothly, your staff won’t be the only beneficiaries.
Improved communications reduce internal roadblocks facilitating better customer service and greater speed of delivery.
Likewise, activity errors or process gaps can be more easily spotted ensuring no opportunities are missed or customers left unheard.
Internal efficiency is the foundation from which you launch your success to provide the best offering available to your customers.
Technology is there to make doing so as easy as possible.
Ready to explore how Anthill’s technology can accelerate sales and drive revenue in your organisation? Schedule a demo today.
Intrigued to learn more? Check out our Insights Hub to keep your business at the cutting edge.
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- March 1st, 2022