{"id":49148,"date":"2021-10-21T15:54:00","date_gmt":"2021-10-21T21:54:00","guid":{"rendered":"https:\/\/www.vendavo.com\/?p=49148"},"modified":"2023-10-20T15:28:37","modified_gmt":"2023-10-20T21:28:37","slug":"sales-optimization","status":"publish","type":"post","link":"https:\/\/www.vendavo.com\/all\/sales-optimization\/","title":{"rendered":"7 Reasons You Need AI-Powered Sales Optimization"},"content":{"rendered":"\n<p class=\"has-medium-font-size\">Is there value to a B2B enterprise in adopting a SaaS-based sales optimization software solution?\u00a0 The answer is a resounding <strong><em>yes<\/em><\/strong>.\u00a0 Or to be more accurate:<strong><em>Yes&#8230;or el<\/em><\/strong><em><strong>se!\u00a0<\/strong><\/em><\/p>\n\n\n\n<p>Maximizing sales outcomes\u2013by both capturing every good opportunity and by maximizing the margins within each sale\u2013is <strong>mission-critical to large organizations <\/strong>that hope to sustain growth + profitability during these very volatile times.&nbsp;<\/p>\n\n\n\n<p>But there are hurdles in the way of that:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Sales teams have <strong>difficulty prioritizing which products to sell<\/strong>, especially if they have multiple accounts and end-customers with different buyer profiles and different product needs.&nbsp;&nbsp;<\/li>\n\n\n\n<li><strong>Finding whitespace opportunities becomes more complex <\/strong>as new customers and new products are added to the mix.&nbsp;<\/li>\n\n\n\n<li>Sales managers and reps <strong>struggle with identifying cross-sell and upsell opportunities<\/strong> within those accounts.&nbsp;&nbsp;&nbsp;<\/li>\n\n\n\n<li><strong>Sales leadership spends more time on administration and laborious analysis <\/strong>of customer purchase history and trends, cutting into the time they can devote to customer engagement and closing deals.&nbsp;<\/li>\n\n\n\n<li><strong>Reps rely too much on past successes<\/strong>, selling the same products over and over again to the same customers, which limits revenue growth as other opportunities get left on the table.&nbsp;&nbsp;&nbsp;<\/li>\n<\/ul>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Why_Adopt_a_Sales_Optimization_Software_Solution\"><\/span><strong>Why Adopt a Sales Optimization Software Solution?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>A <a href=\"https:\/\/www.vendavo.com\/our-products\/sales-optimizer\/\">sales optimization software<\/a> solution can help sales teams vault these hurdles, and if it\u2019s the right solution\u2013by incorporating AI and machine learning to accelerate insights and ROI\u2013it can do so with surprising ease and agility.<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h5 class=\"wp-block-heading has-gray-10-background-color has-background\"><span class=\"ez-toc-section\" id=\"1_To_maximize_engagement_with_buyers_in_volatile_times\"><\/span>1. <strong>To maximize engagement with buyers in volatile times<\/strong>&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<p>If the pandemic didn\u2019t throw you off your game, we applaud you\u2013but companies need to be maximizing opportunities during both unforeseen circumstances and \u201cbusiness as usual\u201d. A sales optimization solution ensures you\u2019re targeting customers with the right product <em>every<\/em> time they\u2019re in market.&nbsp;<\/p>\n\n\n\n<h5 class=\"wp-block-heading has-gray-10-background-color has-background\"><span class=\"ez-toc-section\" id=\"2_To_get_data-driven_selling_insights_without_consulting_data_scientists\"><\/span>2. <strong>To get data-driven selling insights without consulting data scientists<\/strong>&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<p>To expedite the process of developing data-based insights about what prospects or current customers want, it\u2019s best to put modelling right in the hands of your sales team. With the right SaaS sales optimization tool, models can be created and maintained by business users using quick-to-learn intuitive interfaces, removing the need to loop in consultants or data scientists.<\/p>\n\n\n\n<h5 class=\"wp-block-heading has-gray-10-background-color has-background\"><span class=\"ez-toc-section\" id=\"3_To_prioritize_what_to_sell\"><\/span>3. <strong>To prioritize what to sell&nbsp;<\/strong>&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<p>It can be tough for salespeople with multiple accounts and different types of customers to know which products offer the best opportunities. That challenge multiplies for B2B sales teams in sectors where they make have hundreds (or more) of SKUs to manage.  An AI-powered sales optimization solution gets them up to speed quickly and easily on what products, even in complex catalogs, are most advantageous to sell to specific customers, prioritized by product relevance and opportunity value.<\/p>\n\n\n\n<h5 class=\"wp-block-heading has-gray-10-background-color has-background\"><span class=\"ez-toc-section\" id=\"4_To_precisely_address_B2B_use_cases\"><\/span>4. <strong>To precisely address B2B use cases<\/strong>&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<p>There can be any number of very specific use cases your sales team must address when dealing with their customers.\u00a0 An <a href=\"https:\/\/www.vendavo.com\/our-products\/ai-price-selling-solutions\/\">AI-enabled sales optimizer solution<\/a> leverages data-driven insights delivered by Artificial Intelligence and Machine Learning algorithms which are <em>specifically <\/em>designed for B2B use cases.\u00a0 It\u2019ll identify, prioritize, and deliver actionable cross-sell suggestions directly into a sales team\u2019s CRM or quoting solution. \u00a0<\/p>\n\n\n\n<h5 class=\"wp-block-heading has-gray-10-background-color has-background\"><span class=\"ez-toc-section\" id=\"5_To_stop_missing_opportunities\"><\/span>5. <strong>To stop missing opportunities<\/strong>&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<p>With the right software, you\u2019ll stop missing out on cross-selling or upselling opportunities that would otherwise be left on the table using traditional processes.&nbsp; &nbsp;Automating <a href=\"https:\/\/www.vendavo.com\/glossary\/sales-optimization\/\">sales optimization<\/a> means your sales team will be able to estimate these opportunity values by account, prioritizing whitespace across your customer and product portfolio by revenue opportunity.&nbsp;<\/p>\n\n\n\n<h5 class=\"wp-block-heading has-gray-10-background-color has-background\"><span class=\"ez-toc-section\" id=\"6_To_keep_it_simple_for_sales_managers\"><\/span>6. <strong>To keep it simple for sales managers<\/strong>&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<p>Sales managers have enough on their plate\u2013they shouldn\u2019t have to manage the model. With the right solution, output is provided in existing Sales front-end or quoting tools with relevant, contextual information.&nbsp;<\/p>\n\n\n\n<h5 class=\"wp-block-heading has-gray-10-background-color has-background\"><span class=\"ez-toc-section\" id=\"7_To_bootstrap_your_existing_pricing_and_selling_systems\"><\/span>7. <strong>To bootstrap your existing pricing and selling systems<\/strong>&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<p>Why complicate things?&nbsp; Seamless SaaS integration means the insights you gain from a best-in-class sales optimization solution can be used in any existing Opportunity Management or Quoting Tool. <strong>Result: <\/strong>Your entire pricing and sales tech stack performs better.&nbsp;<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n","protected":false},"excerpt":{"rendered":"<p>Is there value to a B2B enterprise in adopting a SaaS-based sales optimization 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