Category Archives: Sales

Sales, Training

Comparing 2024’s Top Tech Sales Training Programs

Tech sales training is the cornerstone of success in the ever-evolving landscape of technology sales. It equips professionals with the skills and knowledge to navigate complex sales cycles, understand intricate products, and engage with discerning customers.

Overview 

This comprehensive guide will explore the world of Technology Sales Training, from its fundamental importance to the intricacies of various training programs. We’ll delve into the evolution of tech sales, dissect common challenges sales professionals face and unveil the benefits of investing in robust training initiatives.

Understanding Tech Sales Training

What is Tech Sales Training and Why is it Important?

Tech sales training encompasses a range of educational activities designed to enhance technology sales professionals’ selling skills and product knowledge. Effective training is crucial for staying ahead of the curve and driving business success in an industry characterised by rapid innovation and fierce competition.

The Evolution of Tech Sales in the Digital Age

The tech sales landscape has undergone significant transformations in recent years, driven by technological advancements, changing customer expectations and emerging market trends. To succeed in this dynamic environment, sales professionals must adapt to new selling methodologies, embrace digital tools, and leverage data-driven insights.

Common Challenges Faced by Tech Sales Professionals and How Training Can Address Them

Tech sales professionals encounter many challenges in their day-to-day activities, from navigating complex product portfolios to overcoming objections and negotiating with savvy buyers. Comprehensive training programs provide the tools and strategies to tackle these challenges head-on, empowering sales teams to drive results and achieve their goals.

 

The Benefits of Investing in Tech Sales Training

Increased Sales Revenue and Profitability

Effective tech sales training directly correlates with increased sales revenue and organization profitability. By equipping sales professionals with the skills and knowledge needed to effectively communicate their products’ value proposition, close deals, and exceed targets, training initiatives contribute to the bottom line and drive business growth.

Enhanced Product Knowledge and Technical Skills

In the fast-paced world of technology sales, product knowledge is paramount. Training programs ensure that sales professionals deeply understand their company’s products and services, enabling them to address customer inquiries, overcome objections, and position offerings effectively in the market.

Improved Customer Engagement and Retention

Tech sales training goes beyond transactional interactions to foster meaningful relationships with customers. By honing communication skills, building rapport and delivering exceptional customer experiences, sales professionals can increase customer satisfaction, loyalty, and retention, ultimately driving long-term success for the business.

 

Types of Tech Sales Training Programs

Traditional Classroom-Based Training: Pros and Cons

Traditional classroom-based training provides a structured learning environment where sales professionals can engage with instructors and peers face-to-face. While this format offers opportunities for interactive discussions and hands-on activities, it may be limited in flexibility and accessibility for remote or distributed teams.

Online Training Platforms: Accessibility and Convenience

Online training platforms offer a convenient and flexible alternative to traditional classroom-based training. With an internet connection, sales professionals can access training materials and resources from anywhere, allowing for self-paced learning and personalized development. However, online training may lack the interactive elements and personalised feedback in traditional classroom settings.

Interactive Workshops and Seminars: Immersive Learning Experiences

Interactive workshops and seminars provide immersive learning experiences combining theoretical knowledge and practical application. These hands-on sessions allow sales professionals to engage in role-playing exercises, case studies, and real-world simulations, reinforcing learning objectives and fostering skill development in a dynamic environment.

 

Key Components of Effective Tech Sales Training

Sales Techniques and Strategies: From Consultative Selling to Solution-Based Selling

Effective tech sales training equips sales professionals with a diverse toolkit of sales techniques and strategies tailored to the unique challenges of the technology sector. From consultative selling approaches that focus on understanding customer needs to solution-based selling methodologies that emphasize value proposition and problem-solving, training programs cover a range of sales methodologies to meet diverse customer requirements.

Product Knowledge Training: Understanding Complex Technologies

Product knowledge training is essential for tech sales professionals to effectively articulate the features, benefits, and value proposition of their company’s products and services Training programs provide in-depth insights into product specifications, functionalities, and use cases, enabling sales professionals to effectively address customer inquiries, overcome objections, and position offerings in the market.

Effective Communication Skills: Building Rapport and Overcoming Objections

Effective communication is at the heart of successful tech sales interactions. Training programs focus on developing essential communication skills such as active listening, empathetic communication, and persuasive storytelling. These skills enable sales professionals to build rapport with customers, uncover their needs and pain points, and confidently and accurately address objections.

 

Conclusion

The landscape of tech sales training is evolving rapidly, driven by technological advancements, changing customer expectations, and emerging market trends. The number one sales training company in the UK based on results. Investing in effective training initiatives is paramount as organisations strive to stay ahead of the curve and drive business success.

By understanding the importance of tech sales training, exploring different training programs and leveraging best practices for implementation and measurement, businesses can empower their sales teams to excel in today’s competitive market.

Sales

Grand Tour marble models found in Mid Wales could make £4,000 at auction

Three early 19th century Grand Tour marble models of famous Italian landmarks discovered during an antiques valuation event in Mid Wales are expected to sell for around £4,000 at auction next week.

Experts from Halls Fine Art in Shrewsbury discovered the rare models during one of the company’s regular visits to Montgomery, having previously valued them for insurance purposes around 10 years ago.

They will be sold at the company’s fine art, antiques and jewellery auction on March 6 in Shrewsbury.

Carrying the highest pre-sale estimate is value a 45cms tall model of the Temple of Castor and Pollux, set on a grey veined marble base, which is expected to fetch up to £2,500.
A 46cm high marble Corinthian column of Phocas, surmounted by a bronze figure and set on a stepped base, is valued at up to £1,000 and a restored 33.5cm high model of Trajan’s Column in red marble, minus its figure, set on a pedestal base and black marble foot, is expected to fetch around £600.

“They are really lovely things and we see them very rarely,” said senior valuer and auctioneer Alexander Clement. “We are hoping that they sell well at next week’s auction.”

Another interesting auction lot is an unusual George III mahogany tidal dial longcase clock, made by Thomas Gilmour in Hutchisontown, Glasgow, which is valued at £5,000 to £8,000.

The arched, painted dial with maritime moon phase shows a ship at sea and ‘Hodam Castle’ and the corner spandrels are painted with portraits of Newton, Columbus, Captain Cook and Herschel.
Hodam Castle in the moon phase wheel is likely to be Hoddom Castle near the river Annan in Lockerbie and the clock may possibly have been a special commission for the owner.

Discovered in Whitchurch, the clock is believed to have been first acquired by Thomas Hogg (1838-1931) of Eaglesham and has been in the family ever since.

Also included in the auction is a pair of late 19th century bronze, ormolu and marble candelabra with five scroll branches which is valued at up to £3,000.

Hoping to strike the right note is an inlaid rosewood grand piano with piano stool labelled Gebrüder Knake, Münster with an estimate of £2,000 to £3,000.

In the furniture section, a 19th century Dutch walnut, fruitwood and marquetry bombe display cabinet is seeking a new home at up to £3,000, a Queen Anne style walnut and feather banded bureau carries an estimate at up to £1,500, a mahogany four-poster bed in the George III style could be a “sleeper” at up to £1,200 and a Mid Wales George III oak dresser and rack is expected to fetch up to £1,000.

For anyone looking to decorate the outside of their home, Halls Fine Art has two bronze garden statues of stags, each valued at up to £3,500.

The auction will be open for viewing on Sunday, March 3 from 11am – 2pm and Monday and Tuesday grom 10am to 4pm.

Sales

Small parcels of land sell for up to £25,000 an acre at Shrewsbury auction

Small parcels of land in Shropshire, Wales and Worcestershire were in high demand, selling for nearly £25,000 an acre at a successful auction in Shrewsbury on Friday.

Seven of the 10 lots included in auctioneers Halls’ £700,000 property and land auction in Shropshire were sold. Top price of £239,000 was secured for Coed–y–Wye, Alkington Road, Whitchurch, a spacious, detached bungalow on a corner plot,  from a Devon buyer.

 Smashing its guide price, the bungalow needed full renovation and modernisation. The accommodation comprised a hall, lounge, dining room, kitchen, three bedrooms and a bathroom, with an attached garage, W.C, store, potting shed and front and rear gardens.

It was a good day for Whitchurch lots as two small parcels of land at Alkington Road, Whitchurch, one extending to nearly four acres and the other, adjacent to The Fields, covering four-and-a-half acres, selling for £102,000 and £68,000 respectively.

Top selling land lot was a 10-acre arable parcel with good, roadside access off Doverdale Lane, Doverdale, Droitwich, which sold for £129,000.

There was also keen competition for two parcels of land at Isycoed, near Wrexham. Five-and-a-half acres of pastureland adjoining Light Oak House made £82,000 and  two-and-a-half acres of productive pasture on the west side of Cobham Cottage, made £57,000.

Reputedly the second oldest barbers shop in England, 15 & 15a Shropshire Street, Market Drayton, sold for a ‘snip’ at £20,000. The three-storey, commercial property, dating to the 16th century, was used by barbers from 1810 until recent years.

Needing extensive improvements and renovation, the property comprised a basement, ground floor with two rooms, first floor with two rooms and a W.C. and second floor with two rooms.

Auctioneer Allen Gittins, Halls’ chairman, said: “Small parcels of land are often very difficult to value and the best way to sell them at their true market price is by auction. There was a huge amount of interest in all the small parcels of land in the auction and consequently they all exceeded their price guides.

“Many people with money in the bank are choosing to invest in these small parcels to own their own little piece of England or Wales.

“Any property that is slightly different or needing renovation and particularly small parcels of land sell best at auction, provided the price guide is right. The beauty of selling by auction is that the contract is signed on the day.”

To enter property or land in Halls’ next auction on April 26, contact Halls on 01691 622602.

Business & Property News, Marketing, News, PR and SEO, Sales

The Direct Selling Association launches campaign for greater adoption of industry best practice amidst direct-to-consumer surge

  • Direct-to-consumer (D2C) brands unite behind call for urgent broader adoption of industry Codes of Conduct.
  • Calls to prevent rogue operators from taking advantage of cost-of-living crisis.

 

The UK industry body for direct-to-consumer (D2C) retail, The Direct Selling Association, today launched a campaign calling for urgent and more widespread adoption of industry Codes of Conduct in the UK.

The campaign follows a significant growth in earnings by people working as independent consultants for direct to consumer retail brands in recent months, with monthly earnings increasing by 73% to £833 last year, thought to be the biggest annual increase in earnings in over a decade.

 

Susannah Schofield OBE, Director General of the Direct Selling Association said: “This form of earning is an increasingly attractive way for people to boost their income as the cost-of-living crisis continues to be felt acutely across the UK.

“Whilst this is a hugely positive development for retailers in an otherwise somewhat gloomy economic outlook, it also presents the potential for disreputable brands and rogue operators to take advantage of the situation and cause huge reputational damage to the wider industry, and we are keen to do everything we can to prevent this.

“It is therefore vital that there is far greater – and urgent – adoption of Codes of Conduct by the many reputable and innovative brands who are selling direct to consumer who are yet to sign up to these Codes.”

 

Direct selling is a £1 billion-a-year channel of retail where products are sold directly to consumers outside of a fixed retail environment. This could be via ‘Tupperware-style’ parties face-to-face, online or through catalogue distribution. Individuals act as independent salespeople and earn through commission paid on product sales. In the UK approximately 500,000 people earn this way, usually on a part-time basis, to supplement household incomes; the average amount earned in the UK through direct selling is £833 per month. Direct selling operates in a similar manner to a micro-franchise, but start-up fees are considerably lower, and it is often free to get started.

As part of its campaign, The Direct Selling Association is reaching out to companies not already signed up to industry codes, as well as engaging with government on the issue.

 

Schofield continues: “Most of the well-known D2C brands such as Avon, The Body Shop, Usborne Books and Ann Summers have signed up to the industry’s Codes of Conduct, which go above and beyond UK consumer law to offer higher levels of protection to both customer and independent sales representatives. However, there still remain a large number of companies in the UK that have not done so, and it’s these companies that we are targeting, to encourage them to do so as a matter of urgency.”

 

Membership of the DSA is only granted to companies which have satisfactorily undergone a full audit process, a process that can take up to a year depending on the maturity of the company in question. During this period, a rigorous examination of an organisation’s business practices, policies and processes are undertaken to check compliance with industry Codes of Conduct.

 

Business & Property News, Business Advice, Business Research, News, Sales

Majority of Businesses Falling Short on Sales Targets Seek Improved Forecasting

Businesses rely heavily on accurate sales forecasting to align with projections effectively. However, recent data from revenue intelligence experts Gong sheds light on the hurdles companies encounter in this area. Over the past two years, nearly 80 percent of UK companies have failed to meet their sales forecasts for at least one quarter, largely due to the use of outdated technology and practices in projection development.

A study conducted in 2022 by the Social Science Research Network revealed that public companies’ earnings guidance is inaccurate approximately 70 percent of the time. This trend indicates that the challenge of forecasting extends beyond private companies to publicly traded ones as well. In both spheres, missed forecasts can undermine stakeholders’ confidence, signaling a lack of grasp on business dynamics and market trends. Implementing advanced forecasting tools, including artificial intelligence (AI), can enhance the precision of these forecasts.

Inaccurate forecasting adversely impacts companies and their employees, resulting in pay freezes, deferred promotions, and halted hiring processes.

Despite these setbacks, businesses remain optimistic about the coming year, with 70% planning to increase revenue projections. When surveyed about the primary obstacle to accurate forecasting, one-third cited outdated technology.

Amit Bendov, CEO, and co-founder of Gong, emphasized the obsolescence of traditional forecasting methods, saying, “The era of revenue leaders relying on spreadsheets and subjective data to predict sales is over.” He highlighted AI’s role in revolutionizing forecasting by incorporating customer feedback and assessing deal health, thus empowering leaders to make informed strategic decisions.

Encouragingly, businesses acknowledge the shortcomings of current forecasting approaches and are taking steps to address them. Thirty-four percent of respondents reported planning to alter their forecasting methods for the upcoming year, while 64 percent are exploring or have already invested in advanced forecasting technologies and systems.

Work marketplace Upwork is one company that has increased its forecasting accuracy as it has grown, with its community of independent talent earning more than $3.8 billion in 2022 across more than 10,000 skills.

“At Upwork, our sales forecasting process wasn’t providing the level of precision we needed as we entered a period of organizational change and growth amid an uncertain economy,” said Drew Korab, director of sales operations at Upwork.

“We implemented a new, AI-powered solution that gives us the data, process, and insights to more accurately predict how our Enterprise business will perform in new logo acquisition. In the first three quarters we’ve used this solution, we reached 95 percent forecast accuracy, allowing us to deliver a stronger sense of confidence to our stakeholders.”

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The study surveyed 1,000 business leaders at privately held companies in the UK in January 2024.

 

E-Commerce, News, Sales

Black Friday starting earlier than ever – sales up YoY, but biggest growth in days before

Black Friday revenue increased by 14% YoY according to the UK’s fastest eCommerce platform provider Visualsoft, suggesting a larger than expected appetite for spending from consumers, and a resilience from retailers through what was predicted to be a challenging winter.

This was driven by an increase in the number of orders, up 12%, and a small rise in Average Order Value (AOV), which rose 2% compared to 2022.

Over the peak trading window of Black Friday through to Cyber Monday, revenue increased above inflation rates. The average increase for the four day period was 8%, with Black Friday revenue up 14% and Cyber Monday up 15%.

Chris Fletcher, VP of Operations at Visualsoft said: “We can see both Friday and Monday performed very well. Over the weekend while there were increases, they were very minor, and under inflation, which has dragged down the overall period sales, although it is still ahead YoY. But in a cost of living crisis and in an economic downturn this is still promising for retail.”

Flooring, rugs and carpets increased by an impressive 88% YoY through the Black Friday – Cyber Monday period. Gifts, gadgets and games improved their sales through the weekend by 95% on the Saturday, giving them an average improvement of 30% for the sales period. Vaping sales improved by almost 40% YoY.

Electrical goods performed worse than last year (down 31% over Black Friday – Cyber Monday) but the sector did see a peak in sales prior to Black Friday, suggesting people were snapping up deals earlier to ensure stocks were in place after challenges in previous years. Fashion improved by almost 30% year-on-year through the Black Friday trading period and lingerie and underwear improved YoY by almost 70% in revenue. Yet health, beauty and cosmetics suffered in comparison to last year, losing almost 10% in sales, although the category did hit a high conversion rate of 11% on Black Friday. Jewellery also declined YoY, dropping 6% in average revenue.

Most retailers in fact saw higher digital footfall prior to Black Friday. This implies shoppers receiving marketing about Black Friday in advance of the day were more likely to spend, with many consumers checking out deals and prices in advance of the peak trading weekend.

Each year, on Black Friday itself, orders by hour follow a very similar pattern, with orders spiking at midnight when many sites queue offers to go live. Visualsoft’s data then shows a steep increase in orders from 6am-10am as people log on before work to grab bargains. During the working day, while orders remain high, the data shows a slow decline in the number going through until 7pm. Between 7-8pm orders rise again to a similar point seen at 10am. Orders drop off rapidly after 9pm as people log off for the night.

Despite predictions that consumers would be preferring to split payments with ‘Buy Now Pay Later’, data from VS Pay – Visualsoft’s payment platform – shows that people are clearly opting to buy up front. Apple Pay was responsible for 25% of Gross Merchandising Value (GMV), showing a preference for ease and convenience. Mobile usage also increased 3% YoY, up 60% across all transactions, with people making purchases on the go.

Ian Hyde, Head of Digital Performance at Visualsoft said: “What we’re seeing is that when retailers plan early, and with the right wraparound marketing campaigns, they can harness an appetite from consumers for deals right throughout November. The biggest success has come from our retailers who used drip feed email marketing and backed it up with deep discounts that are compelling.”

Gary Murray, Head of eCommerce at Leaders said: “We are thrilled to report a phenomenal sales performance during this year’s Black Friday and Cyber Monday events. The strategic efforts from Visualsoft have propelled us to not just break, but shatter our daily and weekly sales revenue records. This Cyber week has set a new benchmark, boasting the highest daily sales in the history of our business—a testament to the successful campaigns and the unwavering dedication of the team in collaboration with Leader Team.”

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About Visualsoft

Founded in 1998, leading end-to-end eCommerce system, Visualsoft has supported some of the UK’s leading online retailers. Combining an award-winning platform, support and marketing services, Visualsoft offers a perfect blend of technology and human tech expertise that helps ambitious businesses to grow their online store to flourish and prosper online.

With over 300 employees, and processing over £1 billion + revenue in client transactions, Visualsoft is growing alongside its clients’ online success. From fashion and footwear to jewellery, pet care, home furnishing and sports, Visualsoft is working with leading brands to build exceptional customer experiences that keep customers coming back.

Whether retailers are looking to expand into new markets, improve their checkout experience, add new ways for consumers to pay, or personalise their store experience, Visualsoft’s end-to-end eCommerce solution gives brands everything they need to elevate online sales.

About the data

Data was taken from 1003 sites on the Visualsoft eCommerce platform from 20th – 27th November 2023. Figures were adjusted to take account the number of sites on the platform, to ensure like for like comparison.

AI, News, Sales

Gong Introduces Call Spotlight to Deliver Relevant, Secure and Accurate Generative AI-Based Insights and Next Steps for Revenue Teams

Includes Industry’s First Generative AI “Ask Anything” Capability Specifically for Sales 

Gong, the Revenue Intelligence leader, today introduced Call Spotlight, a generative AI solution that delivers revenue teams highly relevant, secure and accurate summaries and next steps from customer interactions. By leveraging Gong’s extensive dataset and sales domain expertise, Call Spotlight delivers results that are twice as accurate as off-the-shelf models.

Call Spotlight includes the industry’s first generative AI information querying capability designed specifically for sales interactions. It generates highly accurate and relevant responses based on pre-set prompts or free-form questions providing teams with a deeper understanding of their deal health, the ability to identify emerging trends, and make better decisions.

Ask Anything enables sales reps and leaders alike to gather more insights about an interaction. For example:

  • A rep can ask, “Following this call, what are steps I can take to increase the likelihood of closing this deal?” and use the recommendations to follow up.
  • A rep can query, “why should a regional account executive care about what was discussed in this call?” and the system will deliver an accurate summary of the interaction based on what would be most relevant to that persona. In turn, the rep can tailor their follow-up communication to the regional account executive accordingly.
  • A manager can ask if any competitors were mentioned during a call to help identify risk and enable targeted and efficient coaching in competitive opportunities

 

Digital adoption platform WalkMe is rolling out Call Spotlight to deliver tailored insights to their revenue teams for increased efficiency and accuracy as they build pipeline, convert leads, and grow their existing customer base. “As WalkMe continues to embrace AI throughout our organization, we are particularly enthusiastic about its capacity to make our sales teams more agile and efficient,” said Sunil Panda, VP, RevOps, WalkMe. “With the heightened accuracy that Gong’s models deliver, our customer-facing teams will have a solution that equips them to drive growth more efficiently, based on the right insights, leaving more time for selling and business-building activities.”

In addition to Ask Anything, Call Spotlight includes:

  • Highlights, which summarizes the most relevant points of a call and includes Next Steps, which are twice as accurate as off-the-shelf action items because they are built on Gong’s in-house AI models which are based on billions of sales interactions captured by Gong. By enabling highly accurate and relevant next steps, customer-facing teams can save time and improve accuracy as they work to grow revenue and prevent churn. Relevant insights and Next Steps can also be automatically populated into CRM systems to save teams time and improve data hygiene.
  • Outline, which categorizes and organizes call topics for streamlined understanding of customer interactions.
  • Call Briefs, which are summaries of calls generated within Spotlight. These will be available on the Gong homepage and in search results and Deal Boards, allowing reps and managers to get caught up on previous conversations up to 80% faster as compared to listening back to calls and for managers to understand the context behind their team’s deals.

 

“Gong understands conversations. By bringing this understanding into our generative AI capabilities, we are offering customers a more complete, contextualized, and accurate set of insights,” said Eilon Reshef, Gong co-founder and Chief Product Officer. “With Gong’s enhanced AI capabilities, customers can go beyond inaccurate or inconsistent generic models and instead leverage highly accurate results based on AI models purpose-built for sales workflows, speeding workflows and increasing the capacity of their sales organization.”

To learn more about Spotlight, read the blog.

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About Gong

Gong transforms revenue organizations by harnessing customer interactions to increase business efficiency, improve decision-making and accelerate revenue growth. The Revenue Intelligence Platform uses proprietary artificial intelligence technology to enable teams to capture, understand and act on all customer interactions in a single, integrated platform. More than 4,000 companies around the world rely on Gong to support their go-to-market strategies and grow revenue efficiently. For more information, visit www.gong.io.

Martech, News, Sales, Tech

Gong Launches Gong Engage, Sales Engagement Reimagined with Customer-Centric AI

  • Gong Engage helps revenue teams create and accelerate pipeline powered by tens of billions of real customer interactions
     
  • SiteDocs using Gong Engage to optimize prospecting and align revenue teams on centralized workflows 
https://businessinthenews.co.uk/wp-content/uploads/2023/06/Engage-Social_1920x1080_20s_30fps.mp4?_=1

Gong, the Revenue Intelligence leader, today announced a breakthrough sales engagement solution powered by the industry’s most accurate AI models built for revenue teams. Gong Engage is designed to help organizations create and accelerate pipeline – all on a single platform that is powered by real customer interactions.

Gong Engage serves as a single solution to streamline sales engagement for revenue teams by delivering AI-based sales guidance from the first touchpoint with a prospect to deal close. Engage helps teams create and accelerate pipeline by delivering increased productivity with AI-driven automation and guidance, high-quality outreach to engage entire accounts, and a single sales engagement solution to streamline revenue workflows. Gong’s proprietary AI delivers three times more accuracy than off-the-shelf AI models.

SiteDocs, a safety compliance software provider, has been using Gong Engage in beta to consolidate all of its sales team’s operations on Gong. “Our sales cycles move incredibly quickly, and with a small and resource-constrained team, we’ve found that optimizing customer engagement within the right window of time is a strong indicator of whether or not we’ll win a deal,” said Thomas Andres, VP Innovation, SiteDocs. “Engage will enable us to engineer the process from first touchpoint, to follow-up, to contract signing, because it understands the sales context of the interactions we are having. Since using Engage, we’ve been able to get to a yes or no answer sooner – which lets us allocate resources strategically as we grow our business.”

“Gong changed how revenue teams build pipeline with our customer-centric AI – now we’re changing how they engage with customers at every stage,” said Gong co-founder and CEO, Amit Bendov. “We have leveraged our market-leading AI technology as the foundation for Gong Engage, which sets the entire revenue team up for success. Engage is the only solution that harnesses customer interactions at scale to drive high-quality engagement and ultimately, grow revenue.”

In addition to foundational capabilities such as workflows, web-based dialer, and email templates, Engage delivers reimagined customer engagement features that allow revenue teams to consolidate and up-level their strategies across the entire sales cycle.

 

The only AI-driven sales engagement solution powered by complete customer interactions 

 

Gong Engage utilizes Gong’s proprietary generative AI models to help reps prioritize deals and automatically produce call highlights, action items, and outcomes based on conversation analysis from billions of customer interactions. With these AI-enabled features, sales teams – from SDRs to AEs to RevOps leaders – have clear visibility into deals and workflows.

According to The State of Sales Engagement survey from Gong, 61 percent of sellers don’t know where to focus their engagement efforts. Using generative AI models trained on interactions captured by Gong, Engage makes it easier and more efficient for teams to personalize their customer engagement efforts. AI features include:

  • Call spotlight, which uses Gong’s proprietary generative AI model to create highly accurate briefs, key account highlights, and action items from sales conversations.
  • Automated call outcomes and email response classification, which automatically categorizes prospecting calls and emails, increasing the accuracy and completeness of the information being entered into CRM.
  • Assisted writing, which helps reps personalize their outreach based on persona, without having to manually rewrite entire messages.

 

Engage accounts, not just leads

In Gong’s survey, sellers reported they spend more than six hours each week to manually create one-off personalized emails to buyers. Despite these efforts, 91 percent of buyers surveyed perceive the sales content they receive from sellers as not personalized.

Engage’s contextual, account-based approach for prospecting and selling exceeds the limitations of traditional lead-based tools that encourage mass outreach with little targeting. Instead, it delivers a complete understanding of an account including all touchpoints, relevant CRM information and conversational history through features including:

  • Recommended Contacts, which uses historical deal data to recommend who best to connect with and enables direct access to contact data provided by Gong’s partners, including LeadIQ, Cognism, and Apollo, for streamlined outreach.
  • Buying Signals, which are surfaced from more than 120 Gong Collective integrations to help teams stay on top of their pipeline, no matter where signals are coming from.

One sales engagement solution for the entire revenue team

  • 80 percent of organizations use sales engagement tools only to get the first meeting booked.
  • Engage eliminates the need to add new tools to progress deals.

 

By consolidating an organization’s sales engagement functions including prospecting and selling onto a single platform, RevOps leaders and reps can save time and money and reduce risk. The platform further reduces fragmentation in existing sales engagement and prospecting through partnerships with connected data from partners like LinkedIn Sales Navigator, Chili Piper, and Calendly to offer increased visibility, workflow automation, and alignment such as:

  • Pipeline Views, which lets reps view key tasks and information on active opportunities including a live list of critical actions to engage with buyers and move deals forward.
  • Analytics Dashboard, which gives leadership full visibility into critical metrics across the sales cycles so they can continuously fine-tune their playbook
  • Collaboration, which enables team members to share and assign critical tasks and notes cross-functionally.

Gong Engage will be made generally available this summer. To learn more, visit gong.io/engage.

 

About Gong

Gong transforms revenue organizations by harnessing customer interactions to increase business efficiency, improve decision-making and accelerate revenue growth. The Revenue Intelligence Platform uses proprietary artificial intelligence technology to enable teams to capture, understand and act on all customer interactions in a single, integrated platform. More than 3,500 companies around the world rely on Gong to support their strategic initiatives, deal execution, forecasting, advanced coaching, and productivity to grow revenue efficiently. For more information, visit www.gong.io.

News, Sales, Training

Building a flexible sales approach is key to closing the widening UK skills gap, says sales expert.

UK businesses need to urgently upskill sales staff through training and development, adapt to new opportunities quicker and offer attractive retention and reward packages in order to avoid a ‘sales skills void’, says a leading consultancy.

Experts at SalesFitness Group, which launched specifically to help companies operate more efficiently and sell more, say that investment in sales training and professional development is crucial for jobs and growth. All UK sectors and markets have been plagued by a significant skills gap which threatens to restrict the UK economy from getting back on track and avoid falling into further turmoil.

The latest business insights and impact survey from the Office for National Statistics show that 32% of private sector organisations with 10 or more employees experienced a shortage of workers in December.

Research* last year found that a record 78% of employers experienced difficulty filling jobs due to a lack of skilled talent, an increase of 69% since 2010. Large and medium-sized firms found the most difficulty, with 81% and 80%, respectively, struggling to fill roles. SMEs and micro businesses experienced similar problems, with 76% of small and 67% of micro-businesses finding it hard to attract suitable talent.

The research also highlighted the most in-demand roles for UK employers in 2022:

 

1) IT and data

2) Front office/customer facing

3) Administration/office support

4) Sales/marketing

5) Operations/logistics Skills

 

Chancellor of the Exchequer Jeremy Hunt states there are 300,000 fewer people in employment than before the pandemic. He warned that UK firms would find it difficult to grow if they could not find enough staff to fill available roles.

Commenting on the widening skills gap, Richard Higham, director at the SalesFitness Group, said: “The skills gap in all areas of business is widening steadily, and action needs to be taken to prevent it from becoming impossible to close. The sales sector is not immune from this and has witnessed an exodus of experienced professionals leaving the industry and, at the other end, a distinct lack of fresh, new talent looking to get in on the act.

“The impact of a high turnover of sales staff has always been problematic in business, but the financial consequences are now becoming even bigger with a growing crisis in emerging sales talent. Retaining existing sales reps is a struggle for sales leaders and business owners, and it’s proving harder to find and develop sales talent to replace those who have left. The economic climate and the generally poor widespread practice of attracting, enhancing and retaining sales talent have increased sales personnel departures in every industry sector to record levels.”

 

SalesFitness Group believes that good selling is crucial for individual business expansion and wider economic growth. However, it also believes that in a rapidly changing business world, the strategies, processes and skills that have served in the past must adapt and change to deliver future growth and results. Shifting to a hybrid sales approach enabled by technology can help businesses grow, even in the most challenging conditions.

SalesFitness Group supports companies ranging from Mizuno Golf to Chargeurs Group, an international high-technology manufacturing company and operator of the world’s largest studio dedicated to creating cultural content.

 

Richard Higham added: “The sales profession as a whole needs to be re-invigorated and upskilled if selling is to play a major role in helping to steer the UK out of trouble, creating jobs and building new markets overseas, which it is more than capable of doing. Turning the sales business into an appealing, exciting career path to entice people is essential if the UK skills gap is to be closed.

“There has never been a more critical time to manage an efficient and focused sales operation. Tough economic conditions often create market disruption and the opportunity to win market share. An innovative approach to improving sales by combining leading consultancy, data insights, organisational design, team development and analytics can stimulate the growth the sales function needs and also help to bridge the UK skills gap.”

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References

*2022 UK Talent Shortage Report – ManpowerGroup Employment Outlook Survey, Q3 2022

Business Advice, News, Sales

Pervasive and omnipresent change is here to stay, and sales technology can help.

Management expert Martin Allison, a director of the SalesFitness Group, looks at the long-term impacts of pervasive and omnipresent change in business and provides an overview of how data expertise and predictive technology are helping companies to set the pace. 

Companies are facing a perfect storm of challenging economic conditions, meaning that anyone in the sales environment needs to be out of the blocks faster this year than ever before, to stay ahead of the game. The adage ‘work smarter, not harder’ has never been more apt.

The sales profession is experiencing a rocketing in the pace and volatility of environmental change, and there are varying degrees of capability possessed by the industry to absorb such accelerated levels of change.

The SalesFitness Group was established to help sales leaders and teams continue pursuing outstanding performance by enabling them with the right tools, best practices and support.

The only accurate way to consistently improve sales results is to facilitate meaningful data collection and combine this to maximum effect with other diagnostic sales resources to produce a prognosis for performance. Equipping our consultants and thought leaders with access to these tools provides our sales leader customers with the core mechanics that can help to boost their chances of success.

The ability to measure and demonstrate progress is crucial to sales success. The development of tools which help record, relay and report results lead to more reliable market predictions and accurate cash flow forecasting. Such elements are necessary to show how actual activities produce better behaviours and consequential improved financial performance.

The team at SalesRelay, part of the SalesWisdom Group, make it easier to gather data and interpret trends. The resource is supported by a suite of apps powered by analytical tools that impact the sales result and more accurate forecasting.

A great deal of what has occurred in the economy over the past two years was predictable. Working with clients from diverse industries makes identifying trends and advising on best practices easier.

Firstly, data should be easily and quickly captured and retrieved. It must also be secured so access is only permitted for the right people and for the proper purposes. Once captured, data should only be re-requested if necessary and, where possible, should be relayed to other systems rather than asking salespeople to re-input into different systems, thereby duplicating work and wasting time.

The sales solution should always be designed to enable those activities and behaviours which produce the desired organisational strategic selling results. It should also make the users’ lives easier by being tailored to their vocabulary and removing other tasks or work they may do manually.

It’s also essential that the information reported must be presented in relevant, useful and valued ways by the users. Finally, the outcomes must be practical enough to equate to demonstrable sales.

A recent trend we have encountered is a surge in requests from clients to begin upgrading and enhancing their content collection and reporting, such as the evolving probability of a sale or the time spent nurturing a particular lead.

The ability to provide ‘retrieved data’ easily accessed before meetings is proving very popular, as has credit data on customers and comparisons of current year targets and prior year figures. Several clients have also begun to ask their salespeople to include their revised estimate of the likely annual sales per customer, enabling the tracking of their performance against forecasts.

Another recent trend is squarely focused on compiling data on competitor analysis. Companies have collected data on competitors, the market, compliments or complaints and pricing comments from customers, which when collated, became very powerful for discussions at the board level.

While others are using the system to collect photos of promotional materials or displays, mileage, stock counts or even signed contracts/sales orders.

Building up competitors’ profiles and analysing their techniques and behaviour in the marketplace is nothing new, but doing it in an accurate, quantifiable way that measures success and outlines potential weaknesses, is another way to gain competitive advantage through intelligent data application and likely increased speed of response to market developments.

Embracing technology and effective use of accurate data is a surefire way of ensuring a business is sales fit. With competition getting fiercer and the world changing faster than ever, the sales function’s processes, such as recruiting and training, coaching, reporting and forecasting, are all under increasing pressure to deliver.

A sales-based business can only assume its leading position ahead of the chasing pack through continual development and ongoing re-alignment of the sales function to an organisation’s core strategic purposes.