We've mentioned these stats in other blogs, but they bear repeating. Nearly 80% of American consumers say that friendly service, speed, knowledgeable help, and convenience are the most important elements of a positive customer experience. Yet, even if your customers love your company or product, 59% say they will walk away after several bad experiences, 17% after just one bad experience. So the stakes are high for every business relying on a sales team to keep clients happy and revenue strong. 

Better lead qualification. Faster sales velocity. Improved relationships. These are just a few of the benefits of lead management.

In a business world dominated by Artificial Intelligence (AI) and machine learning technology, it can be easy to forget one simple and incontrovertible truth. People want to buy from people. Customers want to build a solid business relationship with a salesperson to be comfortable with their investment. 

The COVID-19 pandemic accelerated almost every B2C industry's use of digital solutions. The automotive industry was no exception. Online car shopping is now a prominent and accepted way to buy a car. The value, convenience, and safety offered by online platforms have forever changed the car-buying experience. 

Recently, CarEdge reported a mind-blowing fact about the automobile industry that has big implications for auto dealer marketing. For complete clarity, I'll quote the entire statement here:

Today's sales teams face unique challenges in a very competitive global marketplace. If you’re in sales, you know how hard it is to communicate your differentiation, especially when  technological advances and shifts in consumer behavior move at the speed of light. For example, 67% of the B2B buyer's journey is digital. Research shows that 35% to 50% of sales go to the vendor that responds first.

Before the advent of sales automation, sales teams relied on manual processes and a more traditional approach. Sales representatives had to research and source leads using printed business and association directories, attend trade shows, make cold phone or in-person calls, or purchase lead lists. The sales process was time-consuming, offered limited targeting options, and often resulted in lower lead quality.

"Good salespeople are not born, they are trained," according to 35-year sales development industry veteran Dave Kurlan.

There is data to back this up. Studies have shown that companies with a formal sales coaching and training process reach 91.2% of their sales quota. Also, organizations with a coaching program see 7% greater revenue year over year.  

In the dynamic landscape of sales, where customer interactions and relationships are pivotal, conversational analytics has revolutionized how sales teams understand, evaluate, and enhance their processes. Why? Because customer service is critical to success. According to a study by Microsoft, 90% of Americans use customer service as a factor in deciding whether to do business with a company. 58% will change companies due to poor customer service.

A recent Harvard Business Review article reported that while lagging behind other business functions incorporating digital technology, "Sales is primed to quickly become a leading adopter of generative AI… AI-powered systems are on the way to becoming every salesperson's (and every sales manager's) indispensable digital assistant."