Technology has taken over the need to call. We only really talk to our friends or family. When we need to hear somebody’s voice, to feel and to share emotions. When it comes to sales we are no longer interested in taking a call. Have we ever been?
The current generation is only interested in relevance. We are overwhelmed with notifications, apps, sound and visual stimuli that ask our attention. We want to filter and interact when it matters. And where it matters. Technology disturbs us, but can also be a helpful filter.
The big question is, how do sales teams adjust for this change in technological and social landscape? How do we start selling products and services in an intelligent way and make things relevant.
In my opinion, we best look to an old wisdom. One where we at Ramped care deeply about: “To be where your customer is”.
Technology allows us to get closer to the customer. Selecting the right channel to approach prospects is a key element to being successful in making a connection.
Would you be interested in a BigMac when you are reading the morning news? Most likely not. The wrong time and wrong place.
But don’t think B2B customers can’t be found on Facebook or Instagram. As long as the story is relevant and it offers value, there is a way to present your company at the right time and the right place.
Throughout the different phases and stages of your pipeline, you can use various forms of automation and technology to remove manual tasks.
Following up on an email that did not get a response, why would we even want to think about that? This can happen completely automated.
Finding 100 companies that look like our top 25 best performing customers? An excellent example of where AI and Machine Learning can show off their skills.
Determining what vertical or industry to go after next? This might be something that should not be automated or even outsourced. We differentiate between strategic tasks, not based on previous results, and repetitive processes that are predictable and can be written out in scenarios.
To double your business, we at Ramped will start by looking at the top of the funnel. Depending on your perspective, Marketing or Sales, this is the traffic to your website or the number of leads that are generated.
If you double the number of leads, and the quality stays the same, your pipeline will likely double and so will the end result. It is really that simple.
So, how do we leverage technology to generate more leads? First we need to understand fit. The right fit between your ideal customers, their needs and how to appeal to that.
Since we can automate outreach and scale this easily, we can send several types of messages, at different times of day, with various subject lines and optimize fit.
Once we have found the right strategy, results are immediately visible. Higher conversions and better interactions are what you are looking for as confirmation.
Here are 6 examples of how machine learning will help you qualify leads
1. Scoring for Demographic
Whenever a new lead appears in your CRM, it can be scored on the basis of previous training data and classification metrics. This means, an automated system will asses how well the new lead matches previous leads and compare company size, revenue, industry and many other aspects to determine chances of winning this opportunity.
2. Lead Analysis
On the basis of this score, an algorithm determines if a lead is “valuable” or not. Computers are better at this than humans are. Modern day algorithms can take into account much more “external data” like seasonality, social profiles, traffic to their website, all to determine value and qualify this lead within tenths of a second.
3. Lead Classification
If the lead scores below the qualification score, it is discarded for future process. But it is not lost! We will just assign this to a different email track to increase chances in success in the future.
4. Behavioral Analysis
Once the lead reverts or takes some action, the sales threshold is counted. Think about this in terms of how many times somebody opens an email, clicks on a link or moves to the website to download a report or to sign up for a trial.
5. Forwarding to the next “Manual Action”
Humans are great at a lot of things. If a lead qualifies as per the ML Algorithm, the next step could be to schedule a meeting. Of course this also can be done automatically but urgency is something artificial intelligence might miss. Also defining what the actual next step needs to be, could be something that is better done manually. At least for now.
6. Enhancing the Artificial Intelligence algorithm
The final data and outcome of the whole process is re-utilized in training the sales threshold counting function and demographic counting function. This ensures quality goes up in the future and the algorithm adapts to changing circumstances. Think of these small corrections as the automated learning part. Next step, take over the world.
The bottom line
Sales development is not easy and there is a lot of room for improvement. Here at Ramped we know our way around the latest and greatest technologies. We stay up to date so you don’t have to. Outsource your sales development to us and we will reduce cost and increase your growth trajectory.
Sign up for the trial package and we will book your first 10 meetings to show we are for real.
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