Salestech opportunities and challenges 2023

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Salestech opportunities and challenges 2023
In this high-speed business world, sales
professionals must operate efficiently rather
than exert unnecessary effort. This is where
sales technology, often salestech, plays a
pivotal role. Salestech tools empower sales
professionals by automating repetitive tasks,
facilitating data collection and analysis, and
enhancing communication with potential clients
and existing customers. Through salestech, sales
professionals can channel their expertise
towards their core strengths nurturing
relationships and sealing successful
deals. Salestech emerging trends 1. Identifying
leads above the funnel
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• Sales Development representatives frequently
  spend significant time researching potential
  leads before making their initial contact.
• Emerging machine learning tools now offer the
  ability to identify above the funnel leads by
  analyzing buying behaviour, personas, and
  company profiles.
• Artificial Intelligence (AI) for better messaging
• Sales automation tools streamline email
  correspondence and phone calls for sales
  representatives. However, until now, options have
  been limited for automating messaging platforms
  such as Slack, Facebook Messenger, and WhatsApp.
  HubSpot offers comprehensive two-way
  integrations with all these platforms, but for
  those seeking messaging automation, exploring
  third-party solutions like Owler Max (A
  Meltwater Product) and LeadIQ is essential.
• Virtual Sales Development Scorecards
• There was a time when a sales manager could
  inspire their team by strolling through an open
  office area, generating enthusiasm and fostering
  healthy competition. However, the shift to remote
  work eliminated this motivational element,
  leaving many sales leaders needing help to
  motivate their Sales Development Representatives
  (SDRs). To address this challenge, platforms
  emerged aiming to monitor sales performance and
  boost team morale. Yet, most of these solutions
  relied on separate monitors to display
  scoreboards.

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• Salestech Challenges
• Building Trust in a Virtual World
• This challenge has arisen in the contemporary
  sales landscape. Today, sales processes are
  predominantly, if only partially, conducted
  digitally. During a Zoom meeting, for instance,
  its just you and your prospect. From their
  perspective, youre simply a sales professional
  appearing on their screen, in their inbox, and
  sporadically on LinkedIn. Its effortless for
  them to perceive you as a faceless entity.
  Building a meaningful digital connection can be
  challenging for everyone.
• Inconsistent sales cycles
• Sales cycles, particularly within B2B sales, tend
  to be extensive, sometimes even agonizingly. In
  moments of economic downturn, their
  predictability becomes even more challenging.
  These cycles can stretch longer than usual,
  unexpectedly shrink, or sometimes fizzle out
  before they gain momentum. Uncertainty permeates
  every phase of the sales process during
  challenging times. Consequently, it becomes a
  formidable task for sales teams and companies to
  forecast and anticipate revenue streams
  reliably.
• The critical insight for marketers
• Sales teams are transforming. Marketers should
  anticipate collaborating with sales teams that
  are increasingly tech-savvy, streamlined, and
  driven by data insights. To effectively complement

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these sales teams, how should marketers adapt?
Delving into these evolving team dynamics will
influence immediate revenue outcomes and enable
Chief Marketing Officers (CMOs) and Chief Sales
Officers (CSOs) to construct the ideal teams and
technology stacks for delivering results during
the anticipated recessionary phase and into the
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