Sales
How to simplify your sales tech stack
By Seismic — On October 3, 2023
Take a look at all of the logos that make up the 2023 sales technology landscape.
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Sales
By Seismic — On October 3, 2023
Source: Vendor Neutral, 2023 Enterprise 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.
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:
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:
Think through your specific industry and use case, and decide what's most essential.
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.
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:
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.
There's no one-size-fits-all formula for building an excellent tech stack. But there are tactical best practices:
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.
