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Sales Enablement Software Market | Top Trends and Key Players Analysis Report 2022-2031
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.
Various organizations are looking to leverage advanced sales enablement solutions. Integration of advanced technology such as Artificial Intelligence (AI) and data science & analytics in existing sales enablement may accelerate the penetration of sales enablement. For instance, the machine learning technology is being increasingly used in digital banking platforms. AI-based sales enablement tools would be able to retrieve sales-related data to provide focused, real-time advice to sales reps.
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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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The sales enablement program provides sales representatives the tools and optimization they need to successfully close a sales deal. This software serves as a sales repository or sales playbook, as it provides information including marketing collateral and tools such as lead engagement tools, knowledge management solutions, content libraries, contact and sales management tools, and templates to help sales reps understand customers and their requirements.
Sales enablement tools reduce low-value and repetitive activities by 23% by optimizing workflows, integrating with other sales enablement tools, automating admin tasks, and facilitating better external and internal communications.
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