Sales ROI: New ways to measure your success

So that you know, the subject of digital transformation wouldn't be repeated. However, as those responsible for making decisions, appropriate digital priorities can aid in empowering our staff and teams, engaging our clientele and streamlining our procedures.

We acknowledge the potential advantages of investing in our technology stacks, but we also understand that this investment transcends the constraints of budget and finances. It includes time and personnel and the actual deployment, training, and coaching, which all significantly affect our return on investment (ROI).

In light of reports predicting economic turbulence and generating uncertainty, deciding to invest in your tech stack is more daunting than ever. 

Yet, it is also more crucial than it has ever been. The modus operandi has shifted, as has the landscape of B2B sales. We operate in an era of boundary-less business with a hybrid engagement model as the default and an extended purchasing committee to deal with. 

With buyers exploring new horizons and enjoying a wider range of choices, sellers must urgently rise to the occasion. Certain B2B companies are already progressing and modifying their cultural practices and mechanisms, facilitated by technology, with reliable data at the heart of their operations. 
They utilise sales intelligence platforms to gather insights that allow them to engage the right accounts, relationships, and opportunities at the opportune time.

Given the state of things, I propose three unconventional yet highly relevant forms of 'returns' to include in your ROI calculations. 

I've observed that successful B2B firms foster a healthy rapport with technology year after year. These companies conduct in-depth research before making overtures to their target audience. Rather than using technology to knock on more doors, they use it to hit the correct ones.

Victory in a Hybrid Business World

Even with the pandemic becoming endemic, there are no indications of a complete return to face-to-face selling, and the shift to hybrid selling isn't just permanent; it's also beneficial. 

This is primarily because many purchasing committee members work remotely over half the time; 68% believe that remote work has made purchasing easier. With the consensus that this new mode of operation is here for the long haul, sales organisations must ensure that they are primed for long-term success.

Adapting to this emergent preference serves as an excellent example of how to put the buyer-first ethos into practice. That is, empathising with our buyers to understand their evolving needs and, in this context, investing in tools and technologies so that your teams can quickly access pertinent data, gain deeper insight into their accounts, and identify and engage buyers in the way they prefer. It's the first step towards establishing partnerships based on trust.

Employing technology to boost commercial performance

Year after year, I've observed that successful B2B firms maintain a healthy relationship with technology. These companies thoroughly research before reaching out to their target audience. These successful companies don't utilise technology to knock on more doors; they employ it to knock on the right ones. 

Two factors influence these companies.

The first needs to be more accurate data. The two most significant data-related challenges for sellers are obtaining complete and precise market data. Operating with a limited data perspective is risky. It may result in sellers spamming potential customers with products, solutions, and services they don't require, which can be irritating.  

The second involves ensuring that tools, software, and technology are effectively integrated into their commercial teams' workflows and that they invest in training to intelligently and efficiently use these tools. 
When reliable, accurate, and specific data is given to sales teams skilled at using that data to identify prospects with a higher propensity to buy, it sets the stage for improved performance across your entire sales organisation.

Getting Ready for the Ongoing Change.

Digital natives bring their digital-first expectations into the workplace. Therefore, embracing digital transformation by examining your tech stack now is a move towards future-proofing your organisation and mode of operation.

I've said it before, and I'll repeat it: technology is a powerful and necessary enabler that should be used to augment human ability. The right tools, software, and technology, used correctly, will supercharge your commercial team to achieve the results you desire — and that's the ultimate ROI.