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Growth of E-commerce Industry to Augment Sales Enablement Software Market | TMR
The global sales enablement software market is expected to reach US$ 11.55 Bn by the end of 2031
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Sales enablement is the process of facilitating sales representatives with the right content, tools, knowledge, and information to help close a deal successfully. The right sales enablement content and tools enable sales reps to target the right customers and increase customer engagement. The sales enablement process helps accelerate sales, gather relevant data, and increase collaboration between teams to improve overall productivity.
Sales enablement software provides data, resources, training, and visibility throughout the sales content lifecycle. It also helps sales reps to successfully sell products by combining sales operations such as business intelligence, content analytics, customer experience, CRM, gamification, automation, and sales analytics.
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Increase in penetration of sales enablement software is driving the sales enablement software market. Technology organizations are using sales enablement tools to generate B2B leads. Organizations need a dedicated sales team to put their product and services in front of a prospect and illustrate how it would help them scale their business.
Need for Precise Content and Information to Drive Demand for Sales Enablement Software
LinkedIn published a report based on a survey conducted on 721 sales representatives in 2018. The report stated that sales reps spent 65% of their time on activities such as customer data entry in CRM software, writing emails manually, searching for sales collaterals, and collaborating with the marketing team for content and collaterals.
Majority of salespeople rely on cold calling leads supplied by data management firms. Often, they end up talking to the people who are not interested in the product. The opportunity-to-deal conversion rate is lower than the lead-to-opportunity rate. Several sales companies use sales collateral management as a standard procedure. According to the 2019 Forrester report, one of the biggest challenges for sales teams is to find the right content and information. The content is often haywire, duplicate, and out-of-date.
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Growth of E-commerce Industry to Augment Sales Enablement Software Market
According to the 2021 State of E-commerce Distribution: Part 2 report, sales reps such as field sales reps and customer service reps are highly effective in increasing demand for an e-commerce channel for majority of distributors. The report also stated that field sales reps are the leading source for the adoption of an e-commerce platform. 20% of distributors also stated that lack of sales rep support was an issue, and many distributors may not realize the scale of the problem as B2B e-commerce is still comparatively immature. E-commerce provides the tools for sales enablement. It also provides the content in the form of product catalogs. This allows well-trained salespeople to challenge and educate buyers. Data available on e-commerce platforms helps provide optimized product mix and surety that customers will receive relevant insights from sales reps.
Sales enablement software assists marketing teams in making sales and closing deals with customers. Sales and marketing persons need digital and physical resources to sell products efficiently. Sales enablement software helps develop resources that enable sales teams to support buyers throughout the sales cycle. These resources enable the marketing team to drive potential customers through the order fulfillment process.
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