A year ago today, we published the industry’s first comprehensive SalesTech landscape infographic featuring over 400+ SalesTech solutions. Fast forward to today and that number has increased by 25% to over 500 discreet sales solutions, crazy right?
Right off the bat, the landscape should help you know where to focus. If you want to get better at targeting the right people and accounts, at the right time, you’ll want to look at technologies to the far left of the chart. The segment titles in red follow our sales hierarchy model which ranks the over-all abilities required for sales success. Knowing “Who to Sell to and Why” is most important because it impacts the success of the entire sales process. Start there.
If your funnel is filled with the right kinds of prospects but you need a higher close rate, then you’ll want to look at the technologies to the right of the chart (under What to do to close and How to Up/Cross-Sell and Renew).
The SalesTech space is certainly a crowded market. It’s complex and confusing and it will become more, not less, confusing for the foreseeable future. I don’t see a major consolidation happening any time soon despite recent acquisitions like Seismic’s acquisition of SAVO (and before that, SAVO’s acquisition of KnowledgeTree) or SAP’s acquisition of CallidusCloud, and the acquisitions of ClearSlide, LearnCore, and more.
At this point, there is unquestionable pressure due to sales tool fatigue, for solution providers to broaden their offerings either by acquisition or added functionality. Fewer companies are willing to manage the implementation and adoption of 10 or more individual sales tools – many of which have over-lapping capabilities.
That being said, this market is still young. New ideas are being developed into innovative product offerings like StrikeDeck, Olono, and Kiite. The landscape will continue to expand into the foreseeable future.
Making the right sales technology purchase decisions is now less about selecting specific solutions, and more about finding the right mix of solutions based on your organizations capability gaps. That’s why I’ve launched a sister company with my business partner Dan Cilley called Vendor Neutral. Vendor Neutral gives organizations a way to identify and prioritize the gaps in their capabilities and the right mix or technology types and vendors to close the gaps.
Software review sites can help you identify individual solutions to solve specific problems. They don’t however, do much to answer the question “What is the right mix of technologies.” With more than 500 sales tools on the market, that is the 64K question.