In this series, we ask tech executives to describe the why and how of their solution. We call it Sales Tech Simplified.
Nancy: Why does the industry need your solution?
David: According to analyst firm CSO Insights, only 58% of sales people achieve their sales quota. This is a problem that puts pressure on sales people around the world to win more deals and be more effective and efficient with their time every day. Our software, Bigtincan Hub, acts like a virtual assistant for sales people, automatically giving them the information and content they need for each customer meeting and engagement to close the deal. At the same time, it helps sales people to get more time back that is lost to non-selling activities by automatically adding data to corporate systems like CRM.
Nancy: Why should it be prioritized above other options?
David: Empowering sales teams to win more and use their time better is probably the biggest thing that can have an impact on the bottom line of any sales oriented organization. Bigtincan Hub is an underlying platform that organizations can deploy and then build upon to create an integrated layer of sales tools.
Think of it like the foundation of your house. Once a strong foundation is in place, you can build upon it to create a secure, scalable, and unified set of tools for sales people. We don’t think about how the Hub should be prioritized above other options, but should be deployed before other options to ensure sales people get tools that they understand and can make use of.
Nancy: What are the symptoms that indicate an organization would benefit from your solution?
David: The challenges we solve are universal to sales-focused organizations: how can we better asset and prepare our sales team to engage prospects and close deals? Whether it’s the sales enablement and operation team, or the marketing department, they both need to figure out how to get the right materials and information to their sales team at the right time in the sales cycle.
This can be in the form of meeting preparation, providing materials for successful presentation, helping sales teams to better understand a diverse product line, and more. This all needs to happen on-demand, making it incredibly difficult for the supporting departments to keep up with the pace of sales.
The Bigtincan Hub delivers the right content across the spectrum of the sales process. You can think of it like a virtual personal assistant for sales people, helping them to get more done in their busy day, and helping them to be prepared for – and successfully conduct – meetings and engagements with customers.
Nancy: Where does your solution fit in the Hierarchy of Revenue Needs™?
David: Our customers tell us that the Hub is designed to help them to bring the hierarchy of revenue together for their sales teams. From onboarding and coaching, through engaging with prospects, communicating value and closing deals, and cross selling (something that we call Guided Selling).
What the Hub does for these organizations is puts in place a core platform that can be used to bring sales teams together – with a single pane of glass to the different steps in the hierarchy. Without a tool like the Hub, all too often the hierarchy never gets completed – sales people don’t know where to go to find the tools they need to be successful. The Hub is a way to change that.
Nancy: How mature is a typical organization’s sales stack before adding your technology?
David: As the Hub is strategically focused on being the platform that other tools can be launched from, and it provides the core content management and CRM integration capabilities that most sales organizations need, our customers see Hub as a tool that is a good place to start when thinking about digitizing the selling process.
The Hub can also be a tool that is added on top of CRM and marketing automation to help organizations drive the adoption of CRM and bridge the gap between sales and marketing. It can even be used as a tool that is simply designed to be the customer facing mobile oriented sales app. But like most things in technology, getting the basics right is critical, and the Hub plays an important role in being the platform that you can rely on to integrate other sales tools.
Nancy: In what ways is your solution complementary to others that might be in someone’s sales stack now or in the future?
David: The Hub is a powerful integrated sales enablement tool that not only plays nicely with others – but is a great way to start thinking about an organization’s core digital selling initiative. The Hub works great with CRM and marketing automation technologies – helping to drive adoption and better feedback from the field. But it also works with hundreds of other sales technologies, using its built in integrations as well as an open API that can be used to connect to and maximize the performance of a range of sales tools. So, if you are looking to improve the performance of the overall sales stack in a way that doesn’t mean you have to throw out the entire stack and build again, the Hub could be a good place to start.
Nancy: What are some of the challenges your solution solves for Marketing/Sales?
David: After working with hundreds of the world’s leading sales organizations to help them solve the challenges that they are facing with sales enablement and marketing and sales integration, we have identified what we see as the six significant challenges that these customers were facing and that the Hub was designed to solve:
- 87% of training content is forgotten within 30 days (Corporate Executive Board)
- 65% of sales reps say they can’t find content to send to prospects (Kapost)
- 13 HOURS each week spent looking for & creating marketing collateral (EMI Industry Intelligence Report)
- 37% of Sales reps spend about 37% of their time selling (CSO Insights)
- 65% of content is unused by sales (SiriusDecisions)
- 58.2% or reps are achieving quota (CSO Insights)
Bigtincan Hub has been architected to solve these problems, first by bringing all learning, onboarding, and coaching capacities right into the same platform that the sales team uses every day. From there, the Hub’s Sales AI machine learning system automatically recommends the right content for sales people to use based on their work. From there, the Hub’s content creation capabilities help them create and/or modify content to improve their chances of winning deals.
The Hub also provides tremendous insight into the effectiveness of content for marketing teams. The Hub lets marketers know what content is being used successfully by reps as they work with customers, and how content from their campaigns is gaining real world success with reps outside of the corporate website.
But most importantly, the Hub is helping sales people to have a better chance of achieving their sales quota. At the end of the day, improving sales win rates is why Bigtincan exists as a company.
Nancy: What are some good resources if someone wanted to learn what questions to ask, what others are doing, or purchase considerations?
David: Our website, www.bigtincan.com, is a good place to start. The resources section has a complete range of materials, both written and video based, to help start your journey to a sales enablement platform like Bigtincan Hub.