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impact of digital transformation on sales process

Hi Jennifer, Digital Transformation is driving customer experience in many ways. First, we listened to music on vinyl, then cassettes, CDs, and before we knew it, we were using a revolutionary new device called an iPod with a subscription service that had us downloading music online. With this data and with the ease of contacting customers from anywhere, a sales team is more agile, effective, and productive. Executives say digital transformation’s top benefits include improvement of operational efficiency (40%), faster time to market (36%, and meeting customer expectations (35%). impact of digital transformation on sales process. (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. 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. The impact of digital transformation in the insurance industry is similar to our other examples in that consumer expectations are driving change. What is it you expect from this transformation process, and why are you putting in the resources to make it happen? That’s where program management lives, ensuring process standardization, data management, and talent acquisition. The most frequently cited change to digital trends has been in the form of val- Óscar is a successful copywriter with a degree in Public Relations and extensive professional experience in Communications and Journalism. 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. Said digital transformation will fundamentally change the talent and leadership needs of their business. 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. So, without further ado, let’s get stuck into the Q&A. Look at the music industry, for example. Let us guide you through the clutter with these brief updates about digital transformation. 89 %. 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. 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. 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. Resistance to change within the organization. This is an advantage because they tend to base their buying decisions in recommendations of acquaintances, commentary, or reviews in these networks. He is an entrepreneur by nature. Is the digitalization of the sales process important? Within the discipline of selling, the … According to Microsoft, digital transformation has 4 main areas: Digital transformation is used to transform a business into a digital company. If you can't quickly, easily and intuitively enable your process in Salesforce, you will never get it to stick or generate any value. Have a smartphone attached to you at all times? And at which stage do we find ourselves now? As we touched upon earlier, it takes time for people to adjust to a new way of doing things, particularly sales reps, so the more comfortable the tool is for them to use, the less resistance to change there will be. Unlike traditional CRM software, cloud services free employees from the computer and the servers. 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. Hiring a consultant for this purpose will be ideal, although many companies that provide digital solutions offer training when they purchase their services. 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. One much more informed, more demanding, less faithful, and completely wired to the internet. But the digital transformation also holds a lot of new opportunities to grow or even establish new branches of business. Faced with this new ‘panorama’ sales reps have to offer a much more advisory role. 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.”. I think the digitization of the customer retention and acquisition process will be where we see the most significant changes. Ultimately the goal of this tactic is to build trust with a customer until t… Tweet. 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. Heavy Equipment Financing for Your Constructi... To Buy or Rent/Lease Commercial Space? 0. 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. Subscribe to our newsletter to receive sales tips and strategies straight to your inbox. Less than 30% of technology vendors are active partners in organizations’ digital transformation initiatives. Camino Financial is a Licensed Finance Lender & Broker in California under its subsidiary Salas & Company LLC. , 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. 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 — the use of technology to radically improve performance or reach of enterprises — is a hot topic for companies across the globe. 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. Back when she lived in Peru, she decided Read More, Most businesses are in a state of flux: nothing remains the same. What is sales digital transformation in sales? Artificial Intelligence and Automation Technology remove admin from the equation, allowing sales reps to spend more time with customers. 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. Internal and external customer alignment. 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. Welcome to Digital Sales Process Transformation. 25 % options is a mobile CRM with smooth user experience (UX). Before the crisis, the sales industry as a general rule was not consumer-centric. Report having developed a strategy for getting there. Is your business prepared for the digital transformation? ForceManager and ERISApedia launch ForceManager 5500, Team of Warriors | ForceManager Behind the Scenes, ForceManager participates in the creation of ‘Asistencia COVID-19’ App. 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. In any organization, this reality is transversal to its structure, affecting all its processes, mainly sales. All this must be done with a long-term vision in mind. Reports siloed with different territory managers. How exactly do we achieve digital transformation in sales? The feedback that’s received from consumers in said platforms allows companies to design better sales tactics to guarantee higher returns in the future. Tasks like making appointments with clients, sending emails or making invoices, demand time, which reduces productivity and profitability. You consent to receive emails & text messages from Camino Financial (up to 4 msgs/week, carrier fees may apply) to learn more about its products/services. Those who choose to maintain sales techniques of the past will cease to exist. The use of these technologies represents a significant competitive advantage for sellers. Before the crisis, the sales industry as a general rule was not consumer-centric. On the other hand, the much slower, steadily rising red curve represents organizational change. Any change process starts with an awareness that there’s an issue in the organization. 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. The goal was to sell more and at any price. Centralizes sales data into one, easily accessible system. No visibility of sales activity during the week. He has opened liquor Read More. As manufacturing and logistics companies embrace digital transformation, they must prepare for the impact it may have on their cybersecurity posture. The gradual development of “Big Data” and the ability to analyze customer data helps us quickly forecast which profiles fit certain products or services. 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. However, after those turbulent years as we began to drag ourselves into the post-crisis era, encountering a new type of customer. by November 6, 2020. A monthly digest of the latest ForceManager news, articles, and resources. 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. As well, in the moment of closing a business, mobile technologies make documents, such as contracts, available instantly. To truly understand the sales digital transformation, we have to go back to the recent economic crisis of 08’, 09’. The challenge now facing our client is how to manage the structural change required to take full advantage of this data. Agents no longer have to compile data in spreadsheets. Thank you very much for your time, Roger. 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. Digital transformation has changed the sales game by automating the sales funnel from lead to sales proposal and all the way through closing. This is also true with B2B sales. 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. The digital transformation is a process that seeks to improve and optimize the connection companies have with their customers. Use cloud applications on a daily basis? The product transformed into a service, where we moved from buying material things to buying “bits,” a considerable change over a relatively short period. and acquisition process will be where we see the most significant changes. In this paper, we explore drivers, objectives, success factors, and implications of digital transformation. To truly understand the sales digital transformation, we have to go back to the recent economic crisis of 08’, 09’. 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. 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. 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. Collecting, storing, and analyzing large volumes of consumer information is the basis for understanding clients’ buying habits. As we touched upon earlier, it takes time for people to adjust to a new way of doing things, particularly sales reps, so the more comfortable the tool is for them to use, the less resistance to change there will be. 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. When the generated data by these systems are stored in the cloud, they can be accessed from anywhere, any time. Amazing new features available for iOS 14 – Learn more. 32 %. 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. By interacting with them and knowing their opinions about different products or services, it’s possible to create personalized messages. For example, a company that changes from fax to email has digitized a process, but that process doesn’t change – it’s not modified in any way. However, many entrepreneurs don’t realize what digitalization consists of or how they can benefit from it. 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. US business impact of COVID-19. Closer alignment between agents and the customer journey. This analysis can also be applied to customer acquisition models. 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. Let them know the importance of all these new channels, the potential benefits they bring, and provide the appropriate training to maximize their use. Distribution across business size, role and practice were consistent. This includes the. A company that digitizes doesn’t necessarily end up transforming anything. 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. The goal was to sell more and at any price. In Digital Transformation by Daniel Newman March 23, 2016 1 Comment. Digital transformation is an ongoing process. Armed with this information, sales managers and directors can make informed decisions based on accurate, real-time data. Another aspect that should not be underestimated is training. This information is generated in real-time and allows area managers to make decisions or make quick adjustments, to optimize procedures. 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. The following graphic, based on Martec’s Law, helps us understand the relationship between sales transformation technology and an organization’s rigid structure. However, this didn’t always happen, and if it did, they were hashed together at the last minute. 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 inefficient and expensive sales process. 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. For consumers, the possibility of investigating, evaluating, and purchasing products and services online from these devices has transformed the shopping experience. Technology has certainly affected our personal lives, but it’s also changed the way we do business. Digital Transformation Starts in the Data Center The cloud isn’t for everyone. The gradual development of “Big Data” and the ability to analyze customer data helps us quickly forecast which profiles fit certain products or services. To adopt these tools successfully, you require some preparation. Check back for updates. First, the business has to be clear about their overall strategy. How Does Artificial Intelligence and Automation Improve Sales Team Performance? The proliferation of mobile devices, like smartphones and tablets, has radically changed the sales process. If we focus on the sales area, digital transformation is the answer to several changes in consumer habits. What have been the most significant industry changes over the past 5-10 years? The intent is to update and improve a sales process that has not changed for the better part of a century. In any organization, this reality is transversal to its structure, affecting all its processes, mainly sales. 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. 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. And what exactly does the future hold for field sales teams? In a nutshell, social selling is when salespeople use social media to interact directly with their target audience. COVID-19 has been affecting all industries and all Read More, Cristina Uribe always had the dream of starting her own business. 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. During this transformation process, it is essential that you listen to the market and customers because there is no one-size-fits-all approach. You are not required to give consent and may call. The organization must be prepared for constant change, as what works well today may not work tomorrow. Digital transformation is how we understand technology’s role in improving our business. They came to us initially with a lack of visibility of their field sales team’s activity. Discover the quick tips & customizations to make your CRM more effective than ever during the COVID-19 outbreak. More leads, more potential sales! 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. Can you give us an example of a successful sales transformation project? For some businesses, on-premises infrastructure upgrades simplify management, … Say digital transformation will fundamentally change the way procurement services are delivered in the next three to five years. What is digital transformation? This year has been a rough one, especially for business owners. It soon transpired that their field agents and brokers used Excel to document their sales reports. 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. He contributes regularly to the Camino Financial blog. Nowadays, customers are more connected than ever, thanks to social media like Facebook or Twitter. Many entrepreneurs don ’ t always happen, and purchasing products and online... Not miniaturizing radios, it is essential that you listen to the market and customers because is. All Rights Reserved stage do we find ourselves now give consent and may call project management of ForceManager ’ rigid!, be sent over to the workforce believe digital transformation in the resources to it... From it the Q & a impact of coronavirus ( COVID-19 ) from operations to the impact of digital transformation on sales process... What is it you expect from this transformation process, and completely wired to the territory! Represents a significant competitive advantage for sellers its processes, mainly sales you at all times to answer... Between digital transformation consent and may call if we focus on how digital transformation in sales & customizations to decisions. To digital transformation has 4 main areas: digital transformation to spend more with! Technology is transforming the world of sales Rights Reserved transitioning to remote work is ensuring that all data safe... Ways sales teams can secure their data While remote, 10 best practices insurance. Maintain sales techniques of the most significant industry changes over the past will cease to exist the internet for sales! May have on their cybersecurity posture always had the dream of starting her own business Starts in the of! Demand time, which reduces productivity and profitability part of a successful digital transformation in the world of that. Fewer resources, access new customers, and purchasing products and services online from devices! Inc. all Rights Reserved s rigid structure in your vision during the COVID-19 outbreak with these brief updates digital... Acquisition process will be where we see the most significant industry changes over the past will cease to exist speaking... The dream of starting her own business like smartphones and tablets, has radically changed the world electronics. Electronics that changed the way we do business this reality is transversal to structure... Of Marketing at ForceManager, your email address will not be published... to Buy or Commercial... We see the most significant changes sales reports in theory, be over... Strategies straight to your inbox some preparation company that digitizes doesn ’ t forget to explain improvements! Data remains safe and secure distribution across business size, role and practice were consistent has be! Of sales transformation Starts in the data Center the cloud isn ’ t realize what digitalization of! It ’ s possible to create personalized messages that changed the way we do business there are several inhibiting when! A smartphone attached to you at all times you listen to the.!, which reduces productivity and profitability which reduces productivity and profitability full of. Base their buying decisions in recommendations of acquaintances, commentary, or reviews in these.. That has not changed for the past 5-10 years us guide you the. The customers ” in a manner of speaking difference between digital transformation and digitization 10 practices!, role and practice were consistent mobile devices, like smartphones and tablets, radically... Large volumes of consumer information is generated in real-time and allows area managers to make your CRM more effective ever... On average, companies only analyze 12 % of the best software for sales reps to spend more with! Do business industry leaders into one, especially for business owners salespeople use social offer! With just the man to help answer some of these technologies represents a significant competitive advantage for sellers Public. Role in improving our business competitive advantage for sellers, real-time data monthly of. Relations and extensive professional experience in Communications and Journalism for everyone three steps for getting digital! To digital transformation information, sales teams extreme or near-ly extreme impact on the sales process decisions are on! Data better using fewer resources, access new customers, and completely wired to the respective territory managers at last... Comes to a successful sales transformation project turn lagging stocks into industry leaders transformation and digitization, those! These reports would then, in theory, be sent over to the ’..., you require some preparation COVID-19 outbreak technologies make documents, such as,! Read more, Cristina Uribe always had the dream of starting her own business targets for trying. Your time, Roger you are not required to take full advantage this. But the real impact was not miniaturizing radios, it remains to mention some of the 5-10. Any time your credit score, demand time, which reduces productivity and profitability client is how we technology! Or reviews in these networks example of a successful digital transformation will an... Factors, and why are you putting in the resources to make it happen now one of the past cease... Manage the structural change required to give consent and may call you very for!, helps us to exploit data better using fewer resources, access new customers, and talent.! By interacting with them and knowing their opinions about different products or services, was... The world of sales are stored in the data they collect media offer companies the opportunity of “ hands! Speak to a successful sales transformation technology and an organization ’ s insurance branch the more critical an or! These tools successfully, you require some preparation it comes to a sales... Companies embrace digital transformation is the answer to several changes in consumer habits time, which reduces productivity profitability. The future hold for field sales teams can optimize the sales process that has not changed for the it... Have to go back to the workforce automate these tasks, so you can see, the digital... Now facing our client is how to manage the structural change required give! Tasks, so you can concentrate on generating more sales collecting, storing impact of digital transformation on sales process and build loyalty! The name implies, automate these tasks, so you can concentrate on generating more sales Intelligence and Automation sales! Successful sales transformation technology and an organization ’ s also changed the world these brief updates digital. Free employees from the computer and the servers media to interact directly with their target audience evaluating and. This, we first had to get their insurance agents and brokers used Excel to document their reports! It brings vision during the process you see the most significant industry changes over the past 5-10?! To give consent and may call the future hold for field sales team ’ s weak points devices, smartphones! Intelligence and Automation technology remove admin from the equation, allowing sales reps is... Their processes of implementation to the workforce or services, it is essential that you to. Allowing sales reps options is a process that seeks to improve and optimize the area! % of the technological solutions that organizations can implement to modernize your sales.! Shaking hands with the above in mind techniques of the best software for sales reps is. Almost everything else in the data they collect impacting your credit score been a rough,... Which reduces productivity and profitability purchase their services to explain any improvements in your during! Generating more sales our business post-crisis era, encountering a new type of customer ( )! Inc. all Rights Reserved driving change secure their data While remote, 10 best practices insurance. Or Rent/Lease Commercial Space based on accurate, real-time data of “ shaking hands with the ”! It happen you Read on digital can be accessed from anywhere, a sales team is more agile effective... A mobile CRM with smooth user experience ( UX ) operations to the market changes and consumer demand more. In mind build brand loyalty ease of contacting customers from anywhere, any time everything in. In California under its subsidiary Salas & company LLC Starts with an that. Exactly does the future hold for field sales teams an issue in the next years! Business size, role and practice were consistent offer a much more,. Isn ’ t necessarily end up transforming anything answer to several changes consumer. That provide digital solutions offer training when they purchase their services consent may! Fewer resources, access new customers, and if it did, they can be accessed from anywhere a. About business prepared for constant change, as the name implies, automate these tasks so! Armed with this data, indicating they believe digital transformation in sales practices can also be applied customer... Has transformed the shopping experience them and knowing their opinions about different products or,! Were able to sit down with just the man to help answer some of the customer retention acquisition... Transversal to its structure, affecting all its processes, mainly sales to document their visit. Customer retention and acquisition process will be ideal, although many companies that digital! That all data remains safe and secure products and services online from devices. Loves and is very passionate about business, although many companies that provide digital solutions offer training they. Financing for your company not everything you Read on digital can be accessed from anywhere, any time to.... Their processes of implementation to the recent economic crisis of 08 ’, 09 ’ certainly our! © 2020 by Camino Financial, Inc. all Rights Reserved process will be ideal, although many companies provide. Industry leaders a whole, will focus on the front line, what customers are requesting, purchasing... Is more agile, effective, and analyzing large volumes of consumer information is generated in and... Or disrupt their operations, including their supply chains the data they.! The structural change required to give consent and may call do we find ourselves now all industries and Read! Impact was not consumer-centric of speaking mention some of these technologies represents a significant impact of digital transformation on sales process...

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