August 29, 2013
When I look around at the sales industry, one of the biggest trends I see is that customers want and expect speed. To remain competitive, you must make it easy for customers to find you quickly, and make it just as easy for them to quickly get what they need.
One great way to enable customers is mobile channels. Mobility is a huge opportunity to speed up your business. This video is a great example. This gentleman jumps out of an airplane from 10,000 feet with his iPhone over Lake Tahoe in California. He selects a hotel, makes a room reservation in free-fall. Minutes later, he lands in front of the hotel where an employee greets him outside and asks for his name. He then calls the front desk and they confirm that his room is ready.
Aberdeen research has shown that 23% more firms reach sales team quotas after implementing a mobile sales strategy — and 73% realize a gain in sales productivity. This is all about getting the right content to the customer, in real time.
Even though it’s clear to me that speed is the new gold standard for all businesses, there is a paradox. Why? Because the amount of data we deal with is increasing exponentially. According to Google’s executive chairman Eric Schmidt, “From the dawn of civilization until 2003, humankind generated five exabytes of data. Now, we produce five exabytes every two days…and the pace is accelerating.”
Almost everything we do generates data. When a customer visits your Website, makes an order, talks with customer service reps, reads your blog, or watches your videos, he or she leaves a growing digital footprint. And, think of all the internal data your company generates: forecasting numbers, compensation plan payouts, email communication, social media usage. The list goes on and on.
In short, we’ve entered a world that’s overflowing with data that’s too complex for traditional tools to organize, analyze, and monetize. This is actually slowing us down instead of helping us speed up.
As Peter Drucker famously said, the purpose of a business is to create a customer. I would take that one step further and say that our ability to create happy customers is what determines our longevity and success in business. This means that anticipating customer needs is your number one priority.
On September 5, I’ll discuss these challenges and more along with Gabe Smith, Director of Product Management at Vendavo, during an hourlong webinar, “The Sales Transformation: Mobile, Cloud & Big Data.” You’ll learn strategies to grow revenues with mobile, ways to leverage big data to drive sales effectiveness, and tips on harnessing the Cloud to boost margins. Register today and join us.