Revenue Teams: Go Digital Now (Sales Engagement)

If the past six months haven’t convinced you that you need to digitize your processes, then I’m not going to try to convince you of that here. Simply putting your head in the sand and waiting for the pandemic to end will leave your business highly vulnerable now and after the pandemic. Your competitors now understand that sales, marketing and support need to be digitally mediated. Instead of trying to convince you of this, I’m going to skip the digital strategy pitch and offer multiple digital strategies for revenue teams to consider.

Let’s begin with Sales Engagement.

Sales Engagement

Sales Engagement platform help unify your communications across all of your revenue teams. Sales Engagement platforms support

  • Automated Cadences that schedule multi-channel communications across email, voice, social, and direct mail. Features include e-mail templates, phone scripts, playbooks, click dialers, power dialers, voice mail drops, inbound call routing and alerting, and LinkedIn SNAP integrations.
  • A/B testing for refining your email templates and cadences.
  • Reporting and analytics for tracking remote sales performance, analyzing message performance, and identifying what coaching individual reps need to elevate their performance
  • Account Prioritization which dynamically adjust call/email lists throughout the day.
  • Next Best Actions for moving accounts forward and identifying strategic gaps and risks
  • Sales Coaching for both reps and managers
  • Integrated Meeting Scheduling
  • Some vendors have Meeting Analytics built into their service (Outreach KAIA and SalesLoft) while others partner with conversation intelligence vendors. Calls are recorded, transcribed, indexed, and analyzed; allowing sales reps to be more present during meetings. AI-based real-time analysis provides live coaching during calls with recommendations and short advice cards.
  • Integrated Partnerships for conversation intelligence, social media integration, e-gifting, video, chat, etc. Some vendors have formal app partners (Outreach Galaxy, SalesLoft App Directory) while others integrate a smaller set of partners without building a formal partner ecosystem.

While they initially focused on the SDR team, Sales Engagement platforms now support the full revenue team including account executives, managers, operations, and customer success.

Sales Engagement solutions require significant training and setup, so if you are considering them now, you need to act quickly to have one in place by December.

The top two vendors are SalesLoft and Outreach. They offer the most complete solutions and vision, but smaller firms may wish to consider lower priced options such as VanillaSoft, Yesware, and Salesforce High Velocity Sales. Groove and XANT are also enterprise options.

There is still time to implement one or multiple solutions before the end of this year. They will help you close out the year and gain some momentum for 2021. Over the next few weeks, I will be discussing additional digital tools for consideration including sales intelligence, sales enablement, personal video, e-gifting (tactile marketing), chatbots, and opportunity management.

CIO Concerns – July 2020

Boardroom Insiders CEO Sharon Gillenwater discussed the top of mind issues for CIOs due to the pandemic.  Initially, the CIOs’ focus was on transitioning to work from home along with tightened security.  There were also “stepped up initiatives around cloud, automation, and e-commerce in order to keep the business running.  In fact, COVID-19 did more to speed up their digital transformation plans than anything else in recent history.”

“You can’t speed up the culture of an organization. You can roll out technology maybe faster… You have to be careful about speed over perfection. Speed is one thing, but you have to make sure that you don’t introduce any security risks, so it’s sort of combining those two things together [that] I think is extremely important at this time.”

Box CIO Paul Chapman

The Boardroom Insiders research team spent two weeks reviewing recent CIO interviews and identified five positive by-products of the pandemic that are improving the resiliency and capabilities of the enterprise.  First off, tech leaders have emphasized upskilling and reskilling their teams to address skills gaps.  Tech vendors have rolled out “a whole host of free training and education programs.”  As these programs are virtual, CIOs are encouraging their staff to attend these sessions with zero travel costs and registration fees.

Likewise, CIOs are using the time at home to hone their leadership, communication, and team engagement skills.  CIOs have found their teams to be more productive, collaborative, and agile, with rising morale.

The third silver lining is the acceptance and integration of new tools into business workflows.  Many of these changes were a necessity due to operational dislocations, but these new tools are “driving new levels of productivity and employee self-service across the enterprise.”

The work from home experience has also served as a “future of work lab” which forced executives and managers to “rethink business processes.”  This rethinking has “driven a wave of innovation internally” and let management observe how a remote workforce behaves.  This forced experiment has helped CIOs “map out a vision of what the future of work should really look like at their companies.”

Finally, the pandemic has encouraged CIOs to test and revise their business continuity plans and enhance security tools and protocols, readying the firm for the next crisis.

Gillenwater described the current situation as a balance between navigating COVID and growth-focused initiatives:

  • Evolving work-from-home into a long-term roadmap for the future-of-work
  • Enabling security everywhere and agile/mobile/digital/cloud everything
  • Scenario and business continuity planning, in an attempt to plan for future changes and challenges
  • Accelerating digital initiatives, at a pace that many say they’ve never seen before 
  • Cost cuts/expense management, an inevitability in an economically trying time 
  • Reprioritization and refocusing of IT investments and projects
  • eCommerce, as part of the rush to digitize
  • Innovation, to identify and capitalize on future opportunities 

HubSpot Sales & Marketing COVID Activity Metrics

HubSpot has measured aggregated sales and marketing platform activity across its 70,000 customers since the pandemic began and benchmarking this activity against the pre-COVID level (January through early March).  Looking back at Q2, CMO Kipp Bodnar noted that “the data shows steady and sustained growth in buyer engagement, and that businesses with an online presence were ready to capture that interest.”

Marketing teams have risen to the challenge of keeping prospects interested in a messy, chaotic crisis and met an audience of buyers who suddenly spend all day at their computer,” commented Bodnar.  “While email volume has risen significantly — typically a no-no for teams hoping to keep their open rates up — open rates have risen faster than volume has grown, demonstrating that teams have been successful at providing relevant and helpful content.”

Marketing email open rates are up ten to twenty percent above pre-COVID levels, with the last week of June running 18% above the baseline.

Sales teams have been less successful in their outbound communications.  While sales emails have risen 60% since mid-March, “response rates have been dismal. Marketing teams have been able to connect, but sales teams haven’t. This is a huge area of opportunity for businesses as they enter the next quarter of COVID-19.”

Sales email open rates are down 25 to 30%.  “As sales teams increased email sends, customers began to tune these messages out or even mark them as spam in their inboxes,” warned Bodnar.  “So far, it seems if email send rates remain this high, we can expect response rates to trend in the opposite direction.”

“Volume and quality is a tradeoff — the time a team saves by sending out email blasts is wasted if that outreach isn’t personalized, relevant, and helpful. These gaps are clear in the data. At this point, sales teams should be working closely with marketing to understand how they can improve their email engagement rates, and sending far less email.”

HubSpot CMO Kipp Bodnar

Website traffic increased during the pandemic as decisionmakers and influencers began working from home.  Global site traffic is up 16% in Q2 vs. Q1 with it peaking at 24% above the benchmark on April 20th.  Software industry site traffic is running at 40% above pre-pandemic levels.

Customer-initiated chat levels have also risen sharply during the pandemic.  Total volume is up 31% over the pre-pandemic baseline, with every measured industry seeing increased volume.  “Sales teams have pivoted to chat to grow their pipelines, while customer service teams are leveraging this medium to manage the increased demand for support,” observed Bodnar.

Call prospecting has dropped significantly during the pandemic as it has become more difficult to reach individuals who are now working at home.  Call prospecting fell as much as 27% below baseline the week of April 6th and now is down around 9%.  Before COVID, there was a rough balance between phone and email prospecting, but in Q2, email activity doubled that of phone calls.  “Sales teams will need to return to their pre-COVID balance in order to see improvements in response rates,” argued Bodnar.

Deal Creation has improved in eight of the eleven weeks since April 6th, with deal creation up the past four weeks.  APAC deal creation was down 5% in Q2, North America down 6%, EMEA down 12%, and LATAM down 12%.  Large companies have recovered deal creation activity faster than small firms.  Computer Software deal creation was down 3% in Q2.

Deal Won has improved ten of the last eleven weeks, after dropping to 36% below baseline the week of April 6th.  For the full quarter, deals won were down 11%.  Smaller firms did best at closing deals, with larger firms posting the weakest performance, likely due to large firms selling a greater percentage of high-dollar, strategic deals that would have stalled in their pipeline.  Computer software Q2 was 14% above baseline, but this probably overstates industry performance due to Q1 often being the slowest month of the year and the loss of many “hockey stick” end of quarter deals at the end of Q1 as the pandemic struck.  Some of these likely slipped into Q2.

Bodnar provided three suggestions for Q3: invest in chat, shift from quantity to quality in sales prospecting and communications, and invest in online discoverability.

Working at Home — Ideas from Tech Companies

Over the past few days, I’ve suggested ideas for maintaining pipeline and maintaining a positive and constructive outlook. This is now looking like it will last through the spring and potentially into the summer, so let’s be open to new ideas, practices, and routines.

I collected some ideas from those in the tech industry that I follow.

SalesLoft

In this morning’s team meeting the EMEA SalesLoft team discussed how we can keep the culture and mental wellbeing at the forefront while we work remotely…

We are having a daily stand up for 15 minutes, virtual team lunch on a Wednesday and virtual Friday drinks. We are making sure we put time aside for exercise and doing the things we love. We are being mindful of continuing to share ‘glass half full’ stories. We are also looking into what we can do to help with the bigger issue that people are facing in regards to the Corona Virus – local charities, food banks, the elderly.

Ollie Sharpe, SalesLoft VP of Revenue, EMEA

TOPO

A TOPO study of 350+ marketers indicated that only 16% of firms see a significant impact to their pipeline, 64% see a moderate impact due to coronavirus.  The biggest impacts are due to canceled events (87%), corporate travel bans (64%), buyers working from home (53%), and prohibitions against face-to-face meetings.  Only 27% cited buyers not booking meetings and frozen buyer budgets (22%).

TOPO survey (N=350)

ClickZ

Research conducted in 2018 by the Center for Exhibition Industry Research  indicated that B2B marketers who participate in industry events allocated nearly 40 percent of their budgets to exhibitions and industry shows, almost five times more than the 8% spent on online marketing.

Even if only a small fraction of the events’ budgets is shifted to online marketing, it would translate into a massive growth in web marketing.

The major advantage of digital marketing, besides the fact that it does not require face-to-face interaction, is that it is measurable. Marketers can quite easily obtain a good picture of their spending return on investment (ROI), and of which activities generate the highest number of quality leads and at what expense.

Assuming that many marketers will have some extra free time, especially those who will have to go into home isolation, they are advised to use it to review their online marketing strategy and redefine their marketing messages.

Dan Gerstenfield, Interteam Content Services

David Brock

It’s time to pick up the phone. No texts, no emails, no social platforms. Pick up the phone and talk to someone. You are probably dealing with some of the same issues that come with physical separation.

It’s not the time to pitch people, it’s the time to show that you care–about them. It doesn’t have to be a long conversation, but ask them how they are doing, ask how they are keeping engaged and productive, share some ideas.

All of us share in this experience. Each of us is figuring things out. We can learn from each other, at the same time feel more connected.

David Brock, Author of “Sales Manager Survival Guide”

Sirius Decisions (Forrester)

  • Create a task force. Except in very large companies or those with specific types of risks, most companies do not have a dedicated crisis response team, and many have never created even a bare-bones crisis communications plan. Now is the time to do so. Bring together functional leaders from across your organization to begin identifying and prioritizing issues, with all major functions and regions represented. The senior communications leader is usually at the helm, and in some smaller organizations, the effort may be led by the CEO. Other participants will likely include human resources, legal counsel, operations/facilities, sales and customer service leaders, and various marketing/communications disciplines that are either directly affected or will be involved in delivering information to audiences. Each individual should have a clear understanding of his or her specific responsibilities.
  • Prioritize issues of greatest urgency. Ensuring the safety of employees, customers and other stakeholders is obviously the priority, and external guidance from public health experts will be important to understand what these issues are…
  • Develop a protocol for emergent situations. Obviously the plan should lay out a set of actions the organization will take immediately, based on what is known today. However, the situation is fluid and it’s not possible to know with certainty what the situation will look like in a month or six months. That’s why it’s important to have a protocol for addressing new situations as they emerge… 
  • Prepare the communications engine. Providing transparent and ongoing communication is the hallmark of good crisis communications. The communications team needs to analyze the types of communication that will be needed to support a variety of scenarios. One of the most challenging aspects of crisis management is the need to create a wide range of critical content, have it vetted by legal and pushed out through channels as quickly as possible. Create templates for common types of content and stub content that can be built-out as needed. Set up an expedited legal vetting process and work with digital teams to identify how content will be conveyed through the company’s owned channels (web site, social, communities). Also prepare spokespeople – from the CEO to the receptionist, with concise answers that can be given without additional approvals or escalation paths.
  • Map communications strategies to audiences. SiriusDecisions always recommends starting with an understanding of the audience, and crisis response is no different…
  • Maintain open communications with employees. A large percentage of the workforce will face some kind of disruption to their normal routines or even their income…One of the first priorities should be to plan for how communications will flow internally: the channels and cadence that employees can expect, as well as where to go if the normal channels (which may occur in a face-to-face environment) are not available. Also remember that employees are a channel, and if you enable them with content, they can extend the reach of your information and credibility with audiences. [Full Text]

Resources

Salesforce: Another “Blowout Quarter”

Salesforce Maintained its growth trajectory in Q4 2018 (Source: Saleforce.com).
Salesforce Maintained its growth trajectory in Q4 2018 (Source: Saleforce.com).

Salesforce announced another “beat and raise” quarter last week with strong revenue growth across all of its clouds and regions. Their Q4 earnings hit $2.85 billion, up 24% year-over-year (21% in constant currency).  For the full year, revenues rose 25% (24% in constant currency) to $10.48 billion.  SFDC has a three-year compound average growth rate (CAGR) of 25% with revenue nearly doubling over the period.  Growth has been so rapid that their Q4 2018 revenue was more than their full FY 2014. 

Salesforce claims it was the fastest enterprise software company to reach $10 billion in revenue and will be the fastest to hit $20 billion.

CEO Marc Benioff attributed ongoing growth to a number of factors including its sales team which drove a “blowout quarter,” lauding the “performance of that organization and their acuity.”  Other factors included a growing set of CEO-level relationships, an “incredible increase in investment activity” fueled by the recent US corporate tax cuts, and digital transformation

It doesn’t matter if they’re a consumer product goods company CEO or financial services or retail or any industry or any geography. Every CEO is thinking about their digital transformation. And I think you and I know that every digital transformation begins and ends with the customer. 

This is very powerful. And it’s why we have so much activity in our company. Of course, we’re the number one customer company in the world. No other company in the history of the software industry has been as focused on customer-relationship management, but how companies can have a customer transformation at Salesforce. 

And this, and this alone, focus, has accelerated our growth. You can see that in the numbers. So certainly, how we finished our year in fiscal year 2018 is not where we thought we would start. We raised guidance I think almost in each and every quarter, and yet we still ended up above that. And that’s why we’ve raised again here $150 million. This is the most we’ve ever raised in the history of the company, because we’re just ahead of where we thought we would be

So, we are, obviously $10 billion is now behind us, and $20 billion is ahead of us. And it’s our dream, we’re going to be the fastest to $20 billion. 

But when you have $20 billion already on and off the balance sheet, you know that that is – we’re a huge step on the way there. So that’s what I couldn’t be more excited about the position the company is in, its competitiveness, its ability to perform, the quality of its customer relationships, the quality of the products, the integration of the acquisitions, the culture, Fortune number 1 best place to work. All of these things have come together in just a really beautiful way, and I’m extremely grateful.

Salesforce has several other factors fueling its growth: The annual Dreamforce event drew 170,000 attendees last year, the firm has a clear social mission that resonates well with millennial employees (and now decision-makers), and it was an early mover into cloud computing, mobile-first design, IoT, partner ecosystems (AppExchange), and artificial intelligence. 

Finally, being cloud-only, the firm does not have to fight a rear-guard action to retain enterprise clients as they migrate to the cloud.  So while SAP and Oracle must fight to retain their customer base as companies make the leap to the cloud, Salesforce is there to poach their new clients.

Salesforce COO Keith Block on 4½ Years of Transformation

In a recent interview with CNBC, Salesforce COO Keith Block discussed the transformation of Salesforce since he joined 4 ½ years ago.  Based on FY 2019 Guidance, revenue will have roughly trebled during his tenure as the firm transformed itself into a multi-cloud platform supporting companies of all sizes.

“We’ve moved very, very aggressively, both globally, in terms of our international expansion, as well as moving into the enterprise,” said Block.  “And if you look at our business mix, you can see that the enterprise business has been on fire.”

SFDC also adopted a verticalization strategy last year beginning in financial services and healthcare. The initial offerings focused on wealth management and a Health Cloud, but the firm recently announced a retail bank solution. “So, we have deep industry expertise, deep industry knowledge. Our customer-facing teams are focused by industry. We’ve released products specific to those two industries.”

Over the past 24 months, Salesforce has emphasized CEO-level discussions concerning digital transformation.  “We have a steady drumbeat of CEOs who are coming to us to talk about: What does digital transformation mean in my industry? What is your point of view? What is disruption? How can I leverage all these amazing technologies of cloud, mobile, social, data science, artificial intelligence in changing our business model? And it is a regular dialogue with the CEO.”

Block described his biggest challenge over the past few years as one of market awareness.  “Some companies thought we were just in sales force automation and clearly we’re not; we are a customer success platform.”

A Salesforce Investor Day slide (Nov 2017) demonstrates the growth in TAM and revenue due to new clouds including commerce, industries, communities, and collaboration. Over the past four years, the firm has also added new platform capabilities including Lightning, Einstein, IoT, Heroku, Analytics, and Trailhead.
A Salesforce Investor Day slide (Nov 2017) demonstrates the growth in TAM and revenue due to new clouds including commerce, industries, communities, and collaboration. Over the past four years, the firm has also added new platform capabilities including Lightning, Einstein, IoT, Heroku, Analytics, and Trailhead.

The firm also has undergone a cultural change “to think differently about the life cycle, the relationship, the strategic nature of going after those customers.”

Internationalization was also key to supporting global enterprises as enterprise companies need to provide global service.

Salesforce has also benefited from three annual releases instead of big bang offerings every few years.  Block noted that both technology and markets change too rapidly for such approaches.  “Increasingly, customers are embracing the notion of agile, very quick.”

Transformation (Not Digital) is the Key to Digital Transformation

Searches for Digital Transformation on Google
Searches for Digital Transformation on Google (Source: MIT Sloan Management Review)

George Westerman, principal research scientist with the MIT Initiative on the Digital Economy, wrote an excellent article on Digital Transformation titled Your Company Doesn’t Need a Digital Strategy.  His key point was that the true value in digital transformation comes from using digital technologies as the fulcrum for transformation not as the objective.  When focusing simply on a technology for technology’s sake, the return on investment is much lower.

In the digital world, a strategic focus on digital sends the wrong message. Creating a “digital strategy” can focus the organization in ways that don’t capture the true value of digital transformation. You don’t need a digital strategy. You need a better strategy, enabled by digital.

Westerman cautions that technology doesn’t provide business value in a vacuum, but only when fused with a business strategy that transforms a key aspect of your business such as product delivery (e.g. e-commerce), customer understanding (e.g. analytics), “radically synchronizing operations” (e.g. IoT), changing business models (again IoT), etc.  Thus, “technology’s value comes from doing business differently because technology makes it possible.”

For example, sales intelligence isn’t about providing reps with additional contacts or feeding them with business factoids so they sound smooth on calls.  It is about transforming sales and marketing processes by infusing relevant, accurate, and timely intelligence into sales and marketing workflows; aligning sales and marketing objectives; prioritizing activities; and making sales reps more efficient and effective at selling.

Westerman offers four strategies for digital transformation:

  1. Get Away from Silo Thinking — Focusing on a technology strategy (e.g. Mobile, Big Data) can be limiting and ends once the technology has been implemented.  A technology focus results in incremental improvements, whereas a business transformation strategy employs multiple technologies and management interventions.  You begin with the objective and then determine the digital processes and workflows for implementation.  “A customer intimacy strategy, for instance, uses mobile along with other digital technologies to constantly increase personalization, engagement, and satisfaction.”
  2. Don’t push the envelope too far, too fast — Overly ambitious strategies may be very risky while more mundane projects may be ignored.  Cutting edge technology may not be ready or implementation strategies may not be understood.  “Business leaders leave easy money on the table if they ignore incremental steps and pursue risky opportunities that may not be ready to pay off yet.”
  3. Don’t ask your tech leaders to drive transformation alone — This is an old piece of advice, but still relevant.  Early CRM projects often failed due to a top down approach that lacked support from sales and support teams.  The CTO or CIO needs to work with other C-level and mid-level executives that provide expertise in the industry and function.  For example, The CTO cannot transform sales and marketing by fiat, but must work with sales and marketing management for expertise, cooperation, risk mitigation, implementation, and communication.
  4. Build essential leadership capabilities, not just technical ones — Digital transformation isn’t a project but the ongoing development of enterprise capabilities and business value.  Digital leaders should “create a transformative vision, engage their people in that vision, and then govern strongly to chart a course across a whole portfolio of digital transformation efforts — some planned and some yet to be discovered.”

Not all problems require expensive cutting edge technology.  Many problems are still soluble through low tech solutions, small dollar investments into current platforms, and modified processes.  A focus on technology not only brings about silo thinking, but could increase complexity and cost.

I’m reminded of my high school Geometry teacher who said, “there are two ways you can kill a fly.  You can use a fly swatter or you can use a bazooka.”

I suspect the bazooka would be a lot more fun, but costlier and riskier.

That being said, there are also great risks in moving slowly or lacking a digital strategy.  Forrester highlighted the risks of being a Digital Dinosaur.  The author Nigel Fenwick noted that the digital predators are customer obsessed:

While all companies profess to put customers first, it’s clear from the data that executives at digital Predators care more passionately about the customer across multiple dimensions: In every customer metric we measured, these executives rated the importance of the customer higher than peers in transformers and dinosaurs – in short, they are not just customer obsessed, they are really, really customer obsessed.

And consistent with Westerman’s advice, customer obsession is a business objective, not a technology focus.  It is this deep understanding of customer needs that both informs the business and technology strategy and creates a defensible technology advantage.

Digital Transformation and Sales Intelligence

Data Source: “The 2016 Guide To Digital Predators, Transformers, and Dinosaurs," Forrester Research, May 2016.
Data Source: “The 2016 Guide To Digital Predators, Transformers, and Dinosaurs,” Forrester Research, May 2016.

Forrester released a study titled “The 2016 Guide To Digital Predators, Transformers, and Dinosaurs” which argued that companies need to quickly transform themselves into digital businesses.  The study broke businesses into three digital categories: Predator, Transformer, and Dinosaur and evaluated the percent of business that are either digital services or sold online.

Predators are already generating over 80% of their business digitally and will grow their business to 90% by 2020.  For them, digital is a foundational element of their operations.

Likewise, transformers are quickly evolving into digital businesses while dinosaurs are plodding along.  In 2014, only one in six dollars was generated digitally at transformers, but by 2020, two of every three dollars will be digitally mediated at transformed businesses.

At the dinosaurs, only one in three dollars will be digitally generated in 2020.

Forrester found that transformers are customer-centric in their business strategy and processes.  Customer obsession is part of their corporate DNA:

While all companies profess to put customers first, it’s clear from the data that executives at digital Predators care more passionately about the customer across multiple dimensions: In every customer metric we measured, these executives rated the importance of the customer higher than peers in transformers and dinosaurs – in short, they are not just customer obsessed, they are really, really customer obsessed.

  • Nigel Fenwick, Forrester VP and Principal Analyst

Overall, Forrester found that 29% of current total sales are influenced by digital, but that 47% would be digitally influenced by 2020.  Thus, any business that wishes to remain competitive must have a digital strategy which encompasses sales, marketing, credit decisioning, contracting, and all of the elements across your sales funnel.

My blog focuses on sales intelligence (with some discussion of marketing intelligence and DaaS), so I’m covering a subset of this transformation.  But sales intelligence is a key element of the digital transformation of sales and marketing.  Its goal is to make sales reps more efficient and effective at generating revenue through

  • Improved understanding of customers and prospects.  Whether the company is employing ABM, ABSD, social selling, trigger selling, or other techniques, customer-centricity begins with an understanding of the customer at the contact, company, and industry level.  Sales intelligence vendors go beyond firmographics and contact data to deliver business descriptions, SWOTs, biographies, social posts, industry research, financials, analyst reports, technology platforms, etc.
  • Current Awareness. Improved awareness of changes at customers and prospects helps to improve account planning, messaging, and forecasting.  Where once this intelligence was delivered as generic company news, the sales intelligence vendors have refined their tagging and now provide high precision sales triggers which are accurate at both the company and business topic level.  Some have even begun to integrate sales triggers into their prospecting engines.
  • Reduced busywork + improved data quality.  Sales intelligence vendors cut the time wasted on busywork through the implementation of DaaS enrichment of accounts, contacts, and leads.  Enrichment provides more accurate firmographics, corporate linkage, and contact information which is then propagated to downstream systems.  It also reduces the keying done by prospects on web forms and sales reps in CRMs.  Furthermore, targeting, segmentation, and messaging are much more accurate when the ongoing maintenance of account intelligence is managed by a third party.

Over the past decade, sales intelligence firms have grown from standalone web information portals to integrated workflow services that deliver a broad set of account intelligence to CRMs, marketing automation platforms, sales acceleration (ABSD) services, Google Chrome, web forms, and mobile devices.  Thus, sales intelligence is now becoming available to sales, marketing, and service departments across a broad set of platforms and devices.

If you would like to read more on my thoughts concerning the digital transformation of sales and marketing, I have also discussed the topic on Sparklane and Avention’s blogs.