Take a look at all of the logos that make up the 2023 sales technology landscape.
There are more than 1,000 sales-specific tools on the market today that span 50+ categories, all with the same goal: Help sellers close more deals.
It’s a double-edged sword to have this many options. Yes, there’s a solution for just about every nuanced sales challenge. But it’s harder than ever to build the best sales tech stack — one that maximizes productivity, minimizes seller context switching, and prevents other tools from becoming redundant.
Which brings us to the heart of this post: Most businesses have a convoluted, overgrown sales tech stack. But sellers want less context-switching and more opportunities to connect with their clients, while business leaders need to cut unnecessary tech spend. Everyone wants to do more with less.
Top sales organizations are responding to these challenges by consolidating their sales technology tools and investing in solutions that are directly in service of the outcomes they’re hoping to achieve.
Wondering how to audit your existing sales tech stack? Read on because we have four essential questions to consider as you prune your technology investments and maximize sales efficiency.
Four important questions. Four tactical answers.
Question #1: What are the key business outcomes your organization wants to achieve?
This is the first question to ask yourself because it’s where the best technology buying decisions start. To purchase new technology without a clear goal in mind, or to renew a current subscription without proven ROI, is a waste of resources.
Look inward rather than pulling together a tech stack based on what you think would work best or what’s worked well for your peers. Get crystal clear on the outcomes your business needs to achieve and take action accordingly.
Here are a few outcomes you might consider:
- Want to use data to inform your sales tactics? Look for tech that tracks buyer engagement and offers AI-guided selling capabilities.
- Need a better way to personalize content? Think about implementing a sales content management solution.
- Striving for a shorter time-to-quota for new reps? Online learning and coaching is the way.
- Are you trying to do all of this? Consider a comprehensive sales enablement platform so you don’t have three different tools (and three expensive contracts), just a single, unified sales enablement tool for sellers.
Question #2: What are the tools your sellers need to be most effective in their roles?
It’s easy to come up with a complicated answer to this question, but here’s the short one: Just listen to your sellers. They’re on the front line with your prospective clients. Because of this, they have the best idea of what buyers want, industry trends, and what kind of sales experience would exceed their buyer’s expectations.
So, host a few listening sessions. Send out a survey. Ask your top performers what tech they believe would make them more effective. Once you find out where your sellers’ biggest headaches are coming from, you can be sure the tech you’re adding to (or removing from) your stack will enable them to do their jobs better.
Also keep in mind how the broader industry is seeing success in their sales tech consolidation efforts. Gartner recently published a piece on revenue tech (RevTech) and advocates for client-facing roles to have these six tools in their sales technology stack:
- Engagement
- Application
- Enablement
- Operations
- Third-party data
- Infrastructure
Think through your specific industry and use case, and decide what’s most essential.
Question #3: Do your point solutions integrate seamlessly? If not, do you have trouble managing data, insights, and workflows?
Though tons of sales tech companies like to boast that they’re an all-you’ll-ever-need solution, rarely will you find a point solution that can be everything for everyone. So, you’ll need several solutions—like a CRM, sales enablement tools, a scheduling tool, demo software, and more. (Hubspot digs more into this.) And you’ll need tools that all play nicely together.
The trick here is to keep the number of tools you invest in low and their integration capabilities high. Look for open APIs, easy external ID mapping, and ample built-in integrations with your existing stack. When tools seamlessly integrate, deal teams benefit from easier collaboration and alignment, leading to a more cohesive and effective sales process.
In The 2023 Value of Enablement Report survey of 1,200 global full-time sales, enablement, and customer success professionals in managerial and leadership roles, 74% said they were considering leaving their company due to a lack of tools to support their success—and Gen Z respondents were 34% more likely than Gen X respondents to say this.
Long story short, a well-integrated, well-functioning tech stack is vital for retention and future growth.
Question #4: Can your point solutions be consolidated into a platform offered by an existing vendor?
Last but not least, as you look to consolidate your tech stack, take inventory of what really contributes to revenue generation. Businesses are tightening budgets because closing deals and retaining clients is much more challenging than it was in 2019.
Here are two ways to identify if it’s time to consolidate your point solutions:
- Look at usage data: Are there any tools with super low seller engagement or that haven’t been involved in any of your latest deals?
- Identifying capability redundancies: Where across your stack are you paying for features or functionality that you have access to in another tool?
Often the answer to consolidation is migrating to a robust sales enablement technology. Case in point, The 2023 Value of Enablement Report revealed that nearly two-thirds of respondents said they wouldn’t work for a company that doesn’t use excellent enablement tools. Client-facing professionals expect great tech at this point.
Sales tech consolidation isn’t easy, but it’s worth it
There’s no one-size-fits-all formula for building an excellent tech stack. But there are tactical best practices:
- Get crystal clear on the outcomes you want to achieve as a sales team, then find tech that’ll help you get there.
- Listen closely to your sellers and identify their biggest points of friction and time waste. Double down on tech that alleviates their pain.
- Refuse to buy products that don’t play nicely with the existing tools you want to keep. Data needs to flow seamlessly and accurately between tools.
- If you have an existing vendor (or if you’re considering a vendor) that could just as effectively handle the work of four different point solutions, that’s your cue to consolidate.
Want to learn more about tech consolidation and make your sellers happier and more effective at work? This ebook is a great next stop for you: Stack the Tech in Your Favor.
