Embracing the Future: How Tech-Enabled Sales Transform Business Strategies
In the business world, getting more out of sales and marketing efforts while minimizing costs is becoming a top priority. Recently, there's been a big focus on achieving better returns and cutting waste in sales and marketing budgets. In order to become more efficient while still achieving revenue and growth goals, companies need to better use technology in their marketing and sales teams.
What's Causing the Push for Marketing and Sales Efficiency?
Technology companies have seen a lot of investment over the past decade. Many of these companies aimed for rapid growth, often at the cost of profitability. However, a significant reality check happened in 2022 when a majority of these tech companies went public and lost a significant portion of their value within six months.
In response, both investors and companies are shifting towards a smarter approach to revenue growth —focusing on efficiency. One major area they're looking at is how to make sales and marketing more efficient. This is the most recent push for efficiency, but everyone in RevOps knows that this happens regularly and affects virtually all industries.
Growth vs. Efficiency
There's a saying that 80% of sales come from 20% of your sales and marketing team, and while it's a generalization, it holds true in many cases. The challenge with sales and marketing teams is their heavy reliance on human effort, which can be inefficient. Traditionally, to increase production, you'd have to hire more people, which isn't always efficient. This is a challenge many companies are facing now.
But here's the good news: we're on the brink of a technological revolution, powered by generative AI. This technology has the potential to increase productivity not by hiring more people but by making the best of our sales and marketing teams even better. Imagine achieving the same results with half the staff. Just a few years ago, this seemed impossible, but with technology, it's now achievable.
The bad news is that even before generative AI, many companies weren’t using appropriate sales and marketing techstacks. The ones who had them were often not using them to their full potential. It’s critical, now more than ever, for companies to catch up so they are prepared for the future.
Technology in Sales and Marketing
The modern revenue operations landscape is full of technology options. Figuring out the right sales and marketing techstack and the best way to use it can be overwhelming. However, with the right tech tools, you can empower your top performers, break traditional time constraints, and achieve remarkable productivity.
In this new approach, the best salespeople won't need to climb the managerial ladder to increase their income. They can use technology to boost their production and earn more. However, this technological advancement might also lead to job displacement unless people upskill and show they can perform at an optimal level.
At FullFunnel, we partner with businesses of all sizes to design and implement sales and marketing techstacks and tech-powered RevOps strategies. Our aim is to maximize financial efficiency, setting your company up for steady, profitable growth in this changing landscape. If you want your company to be competitive in today’s landscape, schedule a free consultation.