How to Dissolve Sales Bottlenecks with the Right Web App
Established companies still operating under a manual sales process in 2018 have a tremendous opportunity in front of them. By strategically leveraging the right digital tools, companies can alleviate the sales bottlenecks that slow them down while differentiating themselves from the competition.
Web apps are often the ideal mechanism for companies to rapidly scale their business revenue, increase profit margins, and offer top-line customer service. They can create a more customer-friendly and memorable user experience that becomes part of the brand.
Is your sales process tedious for customers and costly for your business?
We’re seeing a need for digital transformation among established companies with complex sales processes. If that’s you, tune in to this recording of our live webinar and learn how to scale your business through automated sales.
The Power of Web Technology
While it’s not the only digital solution for sales transformation, web technology provides an excellent mechanism for creating tools that make buying and selling easier and more accessible.
A well-designed web-based tool can streamline costly sales operations while providing a higher-quality experience to customers, allowing businesses to scale in industries where rapid growth has been traditionally stunted.
IoT, AI, blockchain technologies, and edge computing make more possible on a daily basis. While these technologies are being used to create more powerful solutions, the obstacle is helping established companies transition to using them in a way that propels them toward industry disruption.
According to a recent survey for The 2018 Digital Transformation Index by Futurum:
“Nearly 20 percent [surveyed] said their company’s leadership isn’t sure what to do when it comes to digital transformation.” – Daniel Newman, Founding Partner at Futurum Research
Read Daniel’s article for 15 key stats from The 2018 Digital Transformation Index.
Factors Involved in a Complicated Sales Process
A web application that transforms a bulky and outdated sales process must be done right, otherwise it can leave a company worse off than before. To successfully streamline and optimize a sales process, web apps need to efficiently and effectively navigate the following complications:
- Large transactions with long sales cycles
- Multiple buyers found in different roles
- Legal contracts with variable terms depending on the product, service, and configuration
- Negotiable prices
- A tiered pricing model based on customer lifetime value, deal size, product bundling or other determining factors
- Bundled products
- Ongoing fulfillment, customer service, and invoicing cycles after the initial sale</li.
- Highly customized products and services
- The need to educate customers on the product and process
- The presence of intermediaries like brokers, agents, affiliates, referral partners or distributors
Each of these scenarios can complicate and extend the sales process. In each case, developing the right web app for your company requires a solution that seamlessly and efficiently navigates complex sales.
Turn Your Sales Process Into a Platform for Industry Takeover
The right web app should give you the ability to create a platform-based digital strategy. A platform strategy allows you to create business value by facilitating interactions between external producers and consumers. A platform-based company profits when others create value for them.
Consider the differences between Airbnb and Marriott. Airbnb (a platform business) reached it’s valuation at an exceedingly fast rate with the help of its loyal users. It took Marriott 90 years to reach only a slightly higher valuation.
Facebook, Netflix, Amazon and Twitter are just a few other examples of platform companies that turned digital tools into money makers.
>>Understand the difference between a platform business and a pipeline business.
Creating a Sales Process Web App with Disruptive Potential
Of course, not every platform-based business is successful. And most who succeed cannot expect to dominate at the same level of the internet giants mentioned above.
While there is no easy formula to platform-business success, if you combine a thoughtfully well-built web app with a solid business concept, find the right development and design partner, do all your homework and manage the launch well, you can reasonably predict success.
Beware of moving forward with a concept that lacks disruptive potential. A web app that creates demand while simplifying a sales process to scale will include one or more of these essential ingredients:
1. Use information to relieve a customer’s problem.
If there’s anything you can do to make your product smarter or more personalized in an effort to alleviate your customer’s pain point, this can help.
2. Leverage assets in an unconventional way.
Can you take advantage of the assets or talents of your customers, employees, partners, suppliers or investors?
If you can find a way to leverage these assets in an unconventional way, you can realize higher profits with significantly less capital. This combination can propel your business to new heights.
3. Provide incentive for sharing on social media.
Can you think of a way to incentivize the promotion of your company on social media? One example is the glasses company Warby Parker. They will send you five different frames. Customers are then advised to take selfies with each pair and have their social networks vote on the best. This amounts to a win-win. The customer gets the feedback their looking for to make an informed decision, and the company receives added publicity.
Automating Sales Processes to Scale (A Practical 3-Phase Strategy)
Free Webinar Download: Understand what drives sales automation, how to identify friction in the sales process and practical ways to increase sales velocity with technology.
Kevin Hurwitz and Deanna Dial discuss how to differentiate your business, rapidly scale top-line revenue, and increase profits by reducing friction in the sales process. Download a recording of this live webinar.