According to PR Newswire, the global sales force automation software market is expected to reach $7.4 million by 2023 with a steady 10.6% CAGR growth during the estimated period. And there is a reason, actually a couple, why the projected revenue predicts that more businesses will rush to invest in sales force automation. But, before we get ahead of ourselves, what does sales force automation software really mean?
By definition, sales force automation (SFA) software is a special system that automates a variety of business processes, from sales processing, sales forecasts, and overall performance, to inventory tracking, and a complete insight into the customer’s shopping journey. In other words, SFA is a full 360-degree sales management solution, which can be used separately or as a part of a CRM system, which provides a deeper understanding, accurate analytics, and a total overview of the consumers’ patterns, from their initial lead stage to the loyal regular status.
That being said, many people are still wondering how sales force automation can benefit their organization. But the answer is quite simple – business owners can break the time-consuming cycle associated with sales. However, that’s only the beginning of SFA capabilities, as this system has the power to completely transform company management.
Think about all the tasks that you and your team have to do in order to accomplish the sales quota. The repetitive tasks of scheduling appointments, communicating with potential leads via emails, tracking new and current contacts, and updating sale opportunities is a lot of time and money thrown down the drain.
Instead, sales force automation will keep you up to speed with all of these essentials via automation. Thus, schedule, reminders, email, tracking, and updates will work automatically while the software users have unlimited access to all of this information stored in one central database in the cloud.
Sales Analytics & Forecasts
Traditional sales couldn’t hide from human mistakes, but in the world of big data, there is no room for error. Hence, modern technology brought sales force automation to crunch, analyze, and lead the way to numerous profitable opportunities on the market.
With a comprehensive insight into the past, current, and future trends, along with customer’s data, the software can accurately calculate the future of business sales. Which means you will always have scalability on your side as you can count on precise revenue projections.
Gartner says that, by next year, “more than 50% of organizations will implement significant business model changes in their efforts to improve customer experience.” One of those changes refers to SFA software because this program gathers sensitive info (such as names, addresses, emails, location, etc.) from various sources (social media, chats, emails, phones, and so on) and turns it into an automated lead conversion. And when talking about conversion rates improvement, sales force automation holds them high to over 300 percent.
But the best part is that this large knowledge management machinery reveals which strategy best suits your business. In fact, sales force automation systems monitor company’s competitors as well in order to be the first to take advantage of untapped opportunities. The software tools also include the ability to track customers and their activities. Likewise, sales representative and managers can analyze the productivity of each team member.
Better Management and Support of Sales Teams
With necessary metrics such as customers’ demographics, their preferences, and common orders at hand, it’s easy to measure sales revenue. To put it simply, sales management becomes more efficient and simplified considering the immediate access to real-time data. However, sales force automation has something better to offer.
As this software continues to annually grow in features, one of the most beneficial abilities for sales reps is the ability to close deals via mobile devices. According to statistics, this can help you boost productivity by 24% and more. Moreover, 65% of reps who have adopted the mobile system have accomplished their sales quotas and individually increased their revenue by 41%.
Finally, SFA software is intuitive, interactive, and quite easy to use and it works well for on-screen training and, what’s even better, it integrates with other technologies.
Sales force automation software can contribute to a massive revenue increase and enhanced company’s expansion. This year, consumers are ready to pay up to 25% more for a better service and the bpm’online CRM system can bring your business closer to customers than ever before.
From a startup or an unorganized enterprise, SFA can make any organization into a powerful brand the worldwide audience will fall in love with.