Did you know the top 20% of sales representatives bring in over half of a company's profit? To maintain a sales team's peak, leading companies in biotech and life sciences are leveraging digital tools to help ensure that reps are performing at their peak.
Sales enablement is empowering the life sciences industry to sell smarter by supporting data-based customer interactions. With digitalization greatly accelerated by COVID-19 the future of sales for life sciences is closely connected with the software used to enable sales reps.
Below we'll outline emerging sales trends for life sciences and discuss what the future holds.
How a Sales Enablement Platform Benefits Reps in the Life Science Industry
Preparing biotech and life science companies for the future requires a basic understanding of what's already changing. Longstanding processes are being revamped. Additionally, AI-backed data and the latest technology developments are bringing about major shifts in digital strategy.
These latest trends impact the future of sales for these industries in several ways. One important foundation required to reap the benefits of these advancements is implementing reliable sales enablement software.
The future of customer interaction in the sales industry relies on simplified processes. Digitizing the way that sales reps prepare, present, and share information with their prospects impacts overall operational efficiency. Getting rid of outdated practices, like providing paper brochures and manually logging information into CRM systems, can dramatically improve your sales efficiency.
Much the same as scientists in the life sciences industry need cutting edge tools and technology to improve their research and product development, sales reps also need modern, digital tools to succeed.
Implementing sales enablement solutions first begins with updating processes and operations in your organization, then applying a software solution to enable your team.
Digitize Content Delivery
Digitizing content delivery is one way that sales enablement solutions help support the modern sales team. Providing reps access to content in the field when and where they need it allows for much more engaging customer interactions, and more productive meetings. This means digitally delivering content such as:
- Product brochures
- Specification documents
- Video content
- Training resources
- Buyer personas
- Sales playbooks
- Competitive comparisons
To truly modernize sales efforts, businesses must embrace digitalization. Digitalization offers a much more powerful way to equip your salesforce and provides data insights and the ability to track customer interactions.
Automate Processes and Data
Process automation saves time, money, and the risk of human error. By automating sales and marketing interactions based on customer data, it's easier to streamline sales activities and campaign planning for marketing teams. This allows for sales and marketing alignment, which has been shown to help drive 38% higher win rates for B2B firms.
Marketing personalization can be optimized when machine learning and artificial intelligence are used to turn customer data into strategic direction. Sales enablement tools can further optimize the customer journey by empowering salespeople with content suggestions, recommendations for next actions, and real time analytics on customer engagement.
Advanced marketing techniques are now being powered by micro-segmentation and AI-backed data. This data-driven automation has been growing in the marketing world for some time now, but sales teams have struggled to implement new processes that leverage the capabilities. Sales enablement now gives salespeople the ability to have the same data driven super powers as their marketing peers at the touch of a tablet or mobile phone.
Regulatory and Compliance Management
The life science industry requires intensive focus on complying with regulations and requirements. With products and solutions changing quickly, document revision management is now of utmost importance.
Regulatory information management (RIM) software has emerged as a way to stay on top of the product submission process and ensure compliance within the industry. However, sales and marketing teams have lacked simple and efficient systems to ensure that their product content libraries are staying up to date and compliant.
The introduction of sales enablement systems has helped product marketing and commercial teams to not only manage their content better, but also ensure that all content being used by sales is compliant.
Sales enablement accomplishes this by providing a single platform for organizations to host, maintain, and distribute all of the content within an organization. These systems can provide all product managers or marketers the ability to update and replace outdated content with new revisions, ensuring that all teams are seamlessly working from the most up to date, compliant content.
The best sales enablement systems will also ensure that if a customer has previously received links to content that is now outdated, they will automatically find the most recent revision anytime they access the link.
CRM is the centerpiece of the modern sales and marketing tech stack. Without it, organizations lack the backbone they need to properly manage the sales cycle and maintain customer data.
The modern application of CRM is much more than just a managerial tracking system. It provides reps data insights to manage their sales cycle, uses automation to handle task management, and can even use voice to text to allow reps to seamlessly log updates.
When sales enablement systems are connected to CRM, it opens up a whole new realm of opportunities for personalization and engagement with clients. With a connected integration to Salesforce, or other CRM system, sales enablement systems can automatically serve up content, presentations, training courses, or reference information to sales reps, based on the customer data in CRM.
This allows for a much higher degree of personalization when engaging with clients. According to recent studies, 59% of customers say personalized engagement based on past interactions is very important to winning their business.
Properly leveraging the data in your CRM system can be one of the most powerful ways to get ahead of your competition in both sales and marketing activities.
Sales Enablement Solutions for the Future
Implementing the latest trends and technology can be difficult, but with 77% of sales leaders saying that digital transformation has accelerated since 2019, there is no longer a choice to remain stagnant.
Industry leaders are implementing comprehensive technology platforms that streamline sales and marketing processes. For the biotech and life sciences industry, this means using software that enables sales teams now and into the future.
Klyck.io is a sales enablement platform built for sellers in the life sciences industry, and allows them to close more deals and build better customer relationships.
If you are interested in understanding more about benefits of sales enablement for the life sciences industry, request a demo of Klyck today.