The Telecom industry has been witnessing a lot of changes lately. One of those changes is the shifted focus of industry leaders from the consumer market to B2B markets. This shift has also led to a transformation in buyer-seller relationships in telecoms.
The entry of new providers offering innovative addressable IT services has flooded the telecom market giving industry leaders a run for their money. It has also changed buying behavior as the buyers perceive that their own margins have shrunk. This has increased the pressure on the already strained telecom teams.
In a saturated market like telecom, companies should build upon their existing marketing strategy, but with business requirements exceeding the training resources, determining the starting point can be a challenge. This is where sales enablement comes into the picture. Enablement tools help telecom companies overcome this barrier and allow them to streamline their marketing processes. Also, the transformation in buyer-seller relationships in telecoms has led the companies to adopt the following principles so that they can optimize the sales cycle and grow revenue:
1. Customer first
The buyer journey or the sales funnel has undergone a dramatic change in the past few decades with the majority of B2B sales starting before the customer even has a conversation with the sales rep. Because of this, the expectations of a buyer have increased. Prospects are not looking for sales representatives anymore. Instead, what they require is a trusted advisor that can offer an effective solution to their problem and guide them.
Therefore, it is important that sales and marketing teams understand this change in pattern and align their activities in a manner such that they can conceptualize how the customer journey flows across all touchpoints and improve processes accordingly.
2. Holistic approach
The transformation in buyer-seller relationships in telecoms has seen organizations taking a more holistic approach within the sales team to engage the customers. It can be a great start but not the end. Different teams within the company need to work in collaboration to offer a great customer experience and shorten the sales process. For example, sales and marketing departments need to work in collaboration to create content that is in line with the customer journey as well as the sales funnel. This will not only ensure increased customer engagement but also help the organization have a unified voice.
Technological advancements are happening every day and the world is going digital including the telecom industry. Most of the telecom companies are considering digitization as one of their top priorities. As quoted by McKinsey, digitizing processes can enable telecom operators “to rebuild their market position, reimagine their business systems, and create innovative offerings for customers”. A lot of organizations have already started enhancing their customer engagement strategies with the help of effective sales enablement solutions.
Now, how does sales enablement contribute to the transformation of buyer-seller relationships in telecoms?
Sales enablement has helped in the transformation of buyer-seller relationships in telecoms through buyer enablement. It equips the salesforce to keep the buyer engaged throughout the journey and bridges the gap between the sales experience and customer’s expectation. By enabling the sales rep to identify customer problems and offer effective solutions, it enables the buyer to make better decisions. One of the benefits of B2B sales enablement is that it shortens the sales cycle and expedites customer engagement by driving the sales conversation forward.
Sales enablement also enables the sales reps to follow up with the buyers by providing easy access to required information. It helps marketing in creating relevant content that can be accessed at the right time and utilized by the salesforce to sell more effectively. Sales enablement is also helping the telecom companies at large by allowing them to track and monitor the effectiveness of enablement teams and processes, and to take necessary corrective measures in time.
CRM in sales management is tracked by the telecom providers so that they can build a reliable database for future teams and also refer to this database to resolve customer issues with ease and offer enhanced buyer experience. Sales enablement has played a key role in the transformation of buyer-seller relationships in telecom.