B2B Sales productivity has dropped like a rocket, reaching levels of less than 30% productivity in customer focus (Accenture, 2016). Mobile Innovations have further impacted the human attention span by over 50%; the average attention span of a human is now less than 8 seconds and a goldfish is ten seconds (Microsoft Research, 2016).
Billions of investments into CRM have poured into global companies with the alluring marketing promise of improving productivity of sales professionals. Unfortunately, sales professionals are challenged with high rates of attention deficit disorder, estimated at 30% further impacting their ability to focus on the best opportunities and avoid being distracted by new opportunities that are less positive. Filling in CRM infrastructure continues to be a major roadblock for companies’ worldwide and building quality and complete data sets to take advantage of AI methods will require far more discipline that most companies have yet to realize.
Relentless pressure on sales leaders and their teams continues to intensify. Sales executives need forecasting confidence, while their CFO counterparts, especially in publicly traded organizations, must have accurate forecast data. For the sales rep, pressure is unyielding with increasing quotas, larger customer account lists, and continuing expectations to exceed targets. Chasing shadows is the least efficient way to meet the pressure of the modern business environment. Consequently, the sales team’s efficiency, supported by strategic decision-making, is more critical than ever.
Unfortunately, human bias often spurs sales professionals to pursue opportunities that objective analytics would advise against. Although often considered a burden by sales teams, sales software applications can offer the objective analytics that mitigate human bias in the sales process.
Advanced analytics technologies, notably those with predictive and prescriptive capabilities, are finding their way into a range of business applications from marketing to human capital management to sales. According to IDC global research, those businesses that are able to analyze and act on relevant data will generate over $400 billion in productivity benefits over competitors lacking analytic capabilities.
For the sales executive challenged with increasing quotas and stagnant resources, the addition of sophisticated sales data analytics can yield improved efficiency and stronger revenue growth.
SalesChoice is a Canada-based software developer of sales productivity solutions leveraging AI, Cognitive Sciences, and predictive and prescriptive analytics methods. The company aims to support the sales decision-making process by improving the sales team’s efficiency and win rates. Using predictive analytics, the software is capable of predicting up to 95% accuracy whether a deal will close within a specified period of time or not, help sales teams focus on the most promising opportunities, and improve sales forecasting accuracy by 30-50%. SalesChoice’s has a powerful AI Platform; with ISV Approved Applications supported by SalesForce; with also an OPEN API the company provides four solution offers:
- Predictive Analytics – which provides a predictive score (%) predicting a sales outcome before it happens, up to 95% predictive accuracy. They also provide an opportunity quality ranking so opportunities that will yield the highest odds of winning are prioritized and as changes happen, predictive scores will evolve over time. Innovative Data Quality Dashboards provide performance improvement systems, to tackle data quality or data completeness challenges, critical to take advantage of AI /ML/Cognitive Science enabled solutions.
- Prescriptive and Pricing Analytics: Providing rich insights and action-based coaching customized to the unique profile of each sales opportunity and guides sales reps along the path most likely to move an opportunity through the sales pipeline, a coaching sales bot called “Selly Says,” guides the sales professionals to advance opportunities to higher win outcomes. In addition, the reasons behind the wins or losses are highlighted, for both the controllable- and non-controllable- associated factors
- Pricing Analytics capabilities: Providing discount and amount sensitivity intelligence against odds of winning or losing
- Propensity to Purchase – connects to over 11,000 external B2B databases and guides sales professionals to client accounts/ or market segments showing higher interest levels of purchasing, enabling lead generation growth, micro-segmentation mining, or upsell/cross-sell enablement.
In addition to these four main product lines, SalesChoice solutions are supported by a Data Sciences and BI Professional Services to customize client experiences, leveraging the Wave Analytics, SalesForce’s BI Einstein Platform and also the SalesChoice AI/ML Platform, to solve specific sales CRM use case(s) that complement the unique capabilities of both SalesForce and SalesChoice Inc.
Because the application relies in part on customer-provided data through its CRM application, their SalesChoice sales strategy is primarily focused on large enterprises and mid-market customers, yet a small business with a large data set, like Macadamian Technologies, Digiday, and Innovatia, can benefit as well with SalesChoice, “It is kind of like driving with your glasses on so you can see more, reduce risk, and get to your target destination more reliably — and the outcome is you win more deals and grow on steroids,” said Dinesh Kandanchatha, Former Managing Director, Macadamian Technologies.
Innovator behind :
Dr. Cindy Gordon, Founder & CEO of SalesChoice Inc is an expert in SaaS, business innovation, early-stage software commercialization & sales business practices. She has held senior leadership roles at Accenture, Xerox and Citicorp.
With entrepreneur, VC and Angel experiences, Cindy also has been immersed in numerous global SaaS start-ups like Eloqua, an early seed investment sold to Oracle for over $1B. Other SaaS companies she is currently involved in include: Corent Technology, CoursePeer, Kula, and TouchTown TV.
Cindy is also the Founder of Helix Commerce International Inc., a strategy innovation firm which has serviced clients like: CIBC, Davis and Henderson, IBM, ING, LGS Electronics, Mitel, Rogers and TD.
Internationally, she is recognized for her innovation in: SaaS and Big Data thought leadership, with over 14 books in the market. She is also a 2012 recipient of the Governor’s General Award for Innovation.