- On this blog post, you'll learn:
- Why to invest in a sales automation tool;
- The main benefits of a sales automation tool;
Imagine the following scenario: marketing and sales teams fully integrated, more productivity between processes, smaller sales cycle duration, higher sales rates and more revenue to your SaaS. No, this not a dream, and it can be a reality for your company if you invest in a sales automation software / platform.
The truth is that a sales automation software, when properly used, can bring excellent benefits in most areas of a business, especially where it matters the most: the company's recurring revenue.
To bring you light to the whole "should I automate my sales processes?", we have selected the main reasons why you should invest in sales automation for your company:
It can actually increase sales:
This is probably the most desired results for a company: more sales. But in order to sell more, you need to understand your prospect's needs, motivations, and pain points. Building long-term, valuable relationships can be time-consuming and there's a high risk involved if the prospects don't convert. But if you opt for a sales automation platform or software you are set to increase close rates between 8 to 10%.
One of the biggest battles of today's companies is to keep up with an ever-expanding customer base while dealing with disintegrated customer data. To be able to change this reality, sales automation allows you to track your prospects through the sales pipeline, study their behavior so the marketing team can create relevant content, and as result, deliver personalized services according to the prospect's interaction with the company.
Better lead nurturing (meaning more sales, again!):
A recent study showed the main reason the companies (68%) invest in marketing automation platforms is to automate the lead nurturing process.
An effective lead nurturing process involves having both marketing and sales teams hitting every touchpoint of the sales funnel in the same pace as prospects. A marketing and sales automation platform makes this possible by streamlining the process and ensure that not a single point is missed.
Ultimately, this means more deals ready to be closed with the sales team. If you consider that almost 80% of new leads never become sales simply because of the lack of lead nurturing, you understand why you need to automate your sales process.
More qualified leads from the marketing team:
Did you know that 59% of marketing professionals use marketing automation to improve lead quality, in other words, have more qualified leads?
The more qualified your leads is the bigger the chances of conversion. Both marketing and sales team need to work together to develop a lead scoring strategy. By assigning different "scores" to the lead's actions, such as visiting a certain webpage or downloading an ebook, for instance, the lead scoring can help you determine where your lead is in the sales funnel. With it, the sales team is able to know when and how to talk to leads.
With a sales automation tool, it's easy to set up an automatic lead scoring process to accelerate the sales funnel, without the need for monitoring and manually choosing who's ready to purchase. A good lead scoring system increases marketing's ability to send qualified leads to the sales team, and helps sales focus time and effort on those who are more likely to buy.
Reduce sales cycle length and Acquisition Cost:
Once you know who are the customers who are most likely to buy from you, it's possible to reduce the amount of time spent on each prospect. At the same time, you strengthen the capacity to reach the right customer at the right time. By focusing on cultivating strong relationships with the most valuable customers, the sales team's efforts are more efficient, you save time and money, and also reduce the Acquisition Cost.
In fact, your efficiency on the sales cycle increases 10 to 15% with a sales automation tool. With the right target and the right nurturing strategy, it becomes much easier and faster to convince your leads that they actually need your product.
Increase customer retention:
Did you know that with a sales automation tool you can increase retention from 5 to 10% each month? Well, just because you've closed the deal it doesn't mean you have to stop working towards your customers.
Building a strong relationship strategy with your customers can be the difference between keeping or losing them. Together with the marketing team, continue to offer relevant content via email, in-app messages, SMS and so on. By being useful to your customers they won't hesitate to stay with you when time to renew your plan comes.
You can also send personalized messages triggered by specific actions to keep your customer engaged even after the purchase. By integrating the sales automation platform with your CRM, all the communication and conversations are captured in your activity history for each lead so you can control and manage your customer's profile.
Increase revenue for your company:
Upsell and cross-sell becomes much easier with a sales automation tool. With the whole purchase history of your customers, real-time reports and metrics dashboard in hand, it's possible to analyze your customer's data like demographics, campaign engagement, website visits, and purchase history to create highly effective upselling and cross-selling strategies.
You'll know on which stage of the buying process you customers are, what kind of product, plan or feature they're more interest at, and how they've behaved in the past. You can then use this information to promote appropriate upgrades, provide renewal deals, and ultimately boost revenue for your SaaS.
Improve the sales team productivity:
Just by reducing or eliminating administrative tasks, such as data entry, you already improve your performance. By automating your sales cycle and connecting different tools and apps with integrations, such as Pipedrive and Slack, you can create triggered events you ensure that your team responds faster to your leads. Companies that follow a defined workflow are 33% more likely to be high performers.
Integrate marketing, sales and customer success teams:
The more integrated your marketing, sales and customer success teams are the more you business succeed. 60% of organizations that integrate marketing automation platforms with a customer relationship management solutions (CRM) and established service level agreements (SLAs) report exceptional communications between sales and marketing departments.
The more sales, customer success, and marketing are aligned, the better they understand customer needs and desires to provide unique approaches and experiences. This alignment provides new levels of understanding and cooperation between teams, improves lead acquisition strategies, lead qualification processes and, of course, the number of effective sales.
Sales automation can and should be a blessing to your company's revenue. But in order to make the best of and actually benefit from it, you need to align stakeholders, document processes, integrate with CRM and other apps, develop a strategy, train your users and your teams, and continually test it.
Between so many benefits, it's up to you: just choose the one that fit your needs and make the most of it.