We’re all familiar with the term “tech stack” that emerged several years ago to describe how to think beyond the ERP. Mission-specific apps have given distributors more horsepower and flexibility to create competitive advantage with the help of tech that competitors weren’t deploying. This embedded quickly into distribution strategies.
“Sales stack” has emerged relatively recently. It’s helped me think more expansively about what an optimal sales engine looks like today for a distribution business, which, of course, is a unique and moving target for every company.
I like to think of an effective sales stack as the architecture that enables your team to work more efficiently and focus on what they do best – nurture and build relationships that drive value and revenue. The tech part of the supporting framework is an increasingly important part of the structure. These apps include the usual suspects – prospect list building tools; sales and marketing automation to generate qualified leads; virtual presentation tools; referral software and CRM; AI, predictive and sales performance analytics. That’s the high-level tech portfolio.
But the deeper shift is in how to deploy digital tools to create a more integrated sales and marketing engine. That’s been our mindset as we crafted the agenda and speaker roster for our 6th annual Sales Transformation Summit, June 13-15 in Denver. In addition to sessions on state-of-the-art sales strategy, sales enablement and change management, sessions focus on AI, analytics and the tighter integration of sales with marketing. Digital is the catalyst for rethinking that integration, from marketing and sales automation tools to CRM and content development to deepen engagement.
If the end game is sales productivity to optimize revenue, tech is an increasingly important part of the tool set. We have to think bigger picture: the structure of your outside-inside-digital go-to-market model, talent development, performance management and how to leverage digital to keep prospects and customers engaged.
In 2022, how are you going to build the Distribution Formula 1 sales stack that will outrace whoever is the Mercedes or Red Bull in your market (apologies to those who have not been following the Netflix series, Formula 1: Drive to Survive)? The engine is the big-money item, but there are a lot of other important elements that differentiate between checkered flag and next-best. What does your sales stack look like to keep your team in the post position?
More resources: If you’d like to strengthen your own tech stack and expand your team’s knowledge of the tools out there today, MDM is presenting a four-part virtual Sales Transformation Bootcamp, starting April 28, led by Mike Marks of Indian River Consulting Group. That’s followed by our 6th annual Sales Transformation Summit, June 13-15 in Denver.