Nearly every sales organization today is being forced to consolidate its sales tech stack to reduce burn rate, improve efficiency, and drive higher ROI.
Revenue leaders have long lamented that their bloated tech stacks are not leading to higher quota attainment, and are often creating organizational silos. While many of these tools were purchased with good intentions to help reps sell in a hybrid or mostly remote world, it’s not uncommon to hear revenue leaders realize that perhaps things have gone overboard.
It’s simple: too many tools create revenue chaos, and reps don’t know where to focus, or what to do each day.
With nearly 30% of sales teams using 10 or more tools in a given day, it’s obvious that the experience for reps to get onboarded and trained, work and win deals; find content, and personalize buyer experiences has grown quite complex.
Now, though, there is a renewed urgency to consolidate. In this blog, we’re here to help you understand:
- Benefits of consolidating your sales tech stack
- What types of technologies to consolidate
- Top use cases for consolidation
- Questions to ask yourself before consolidating
- DOs and DON’Ts of consolidating successfully
Benefits of consolidating your sales tech stack
There are many benefits of consolidating your sales tech stack.
Reps are trained faster
The biggest benefits are often felt by reps. Our customers who have consolidated with Mindtickle say their reps are trained 40-50% faster and improve their overall sales efficiency.
While reps in organizations with siloed tech stacks spend just 30% of their time actually selling, with consolidation, reps know what tools to use each day, and spend less time looking for content. They are also better able to work each stage of the sales cycle and match content and next steps to what that particular buyer needs.
Managers can coach more people at scale
Prior to consolidating its sales tech stack, one Mindtickle customer could count on a manager to oversee 4-5 people. After consolidating and improving the scalability of coaching and deal reviews, this same manager can successfully coach 8-9.
Reduced time and administration
Anyone who has ever participated in getting a sales technology off of the ground knows how time-consuming it is to:
Working with too many sales tech vendors spreads teams thin, and makes it difficult for those organizations to partner together to truly help you drive a sales transformation. Rather than focusing on streamlining workflows, reducing clicks, and driving revenue goals, your time gets sucked up being courted by dozens of vendors who are often primarily thinking about how to keep their seat at the table in this precarious economy. That is not productive for you.
Reduced compliance and security risks
A goal of any good cybersecurity and compliance strategy is to reduce the sales tech stack. Why? Because every new vendor you add opens up risk. Not only do you need to constantly onboard and offboard employees, but there is another team of people with access to critical documents about your strategy and products. As much as possible, it is best practice to focus on fewer trust-worthy partners who follow best-in-class compliance protocols.
Create a culture of collaboration
When teams start to use too many different sales technologies, they inevitably adopt different sources of truth and workflows. This can lead to big discrepancies between how people think about business performance, people performance, and what to even do each day. In the world of revenue tech, RevOps might work in one platform and see issues with the forecast or pipeline that don’t properly get communicated to enablement.
Enablement might be looking at sales engagement and program statistics that show their efforts are paying off, but have little to no idea that a specific person, team, or sales stage is suffering so they can target and personalize their efforts.
Managers and reps might be completely misaligned on what deal risks even exist, how responsive prospects actually are, and the activity volumes that take place each day.
And CROs, who are responsible for reporting to the board, often get stuck finding problems, but not actually providing the team with strategic guidance on how to go beyond and fix those problems.
As much as possible, building a single data model for the sales org gets the whole revenue team aligned.
Positively impact cash flow and spend.
Here at Mindtickle, we know that the average 40-person selling team that consolidates its tech stack saves upward of $150,000 annually. For enterprise organizations, the potential financial benefits are much, much steeper.
While cost does not mean you have to sacrifice quality and results, it should not go unmentioned that organizations that do streamline their sales tech stack and eliminate redundant sales technologies reap big savings.
Tech consolidation is key to revenue productivity
Now that we know why organizations are consolidating their sales tech stacks, and why so many are urgently doing it now, what use cases exist? What types of technologies are they even consolidating?
There are many, but the biggest trend in consolidation right now is in connecting sales enablement and sales operations solutions with the goal of helping reps work and win more deals consistently and at scale. Another good way of putting this is that revenue orgs today are focused on helping reps know what to say, show, and do to win every sales stage.
At Mindtickle and other organizations, these new consolidated platforms are often referred to as revenue productivity platforms. The big idea behind revenue productivity platforms is that they not only help you identify people, deals, and teams that need your attention but actually drive change management at scale.
In a nutshell, revenue productivity platforms help you uncover insights on what deals, teams, and people need your attention but also go beyond to fix them with built-in enablement.
Here are some of the top use cases to consider when consolidating.
Dead are the days when enablement teams would launch a program and cross their fingers that reps actually adopted it in the field. With a consolidated tech stack, the whole team works as one. It’s much easier to hold reps accountable for using the messaging and doing the activities you’ve prescribed as part of your new sales process or sales methodology. In fact, most organizations that consolidate their tech stacks are able to significantly scale deals and call reviews.
With a unified tech stack, not only can you decode what top reps do differently to win more, but you can also drive scalability and repeatability by rolling out things like templates and sales plays.
One of the top use cases is to encourage reps to build Digital Sales Rooms for customers and work deals diligently using Mutual Action Plans.
Better performance benchmarking and analysis of key sales outcomes
With a consolidated sales tech stack, organizations can start to get really clear about what their Ideal Rep Profiles and competencies look like. This means that instead of relying on manually input CRM data to predict who will hit quota or not, organizations can start to define the skills, activities, and in-field behaviors that make reps successful or not.
Once those Ideal Rep profiles and competencies are defined, organizations can better benchmark who is ready or not to hit quota. At Mindtickle, we call this the Sales Readiness Index. Dozens of our customers use it to know which teams and people need their attention.
This level of benchmarking is only possible when you unify your sales tech stack and begin to create a single data model around all of your buyer and seller interactions, as well as your sales competencies.
A culture of practice, reinforcement, and coaching
Sales coaching is essential, and it’s proven to drive bottom-line results. In fact, companies that provide quality coaching can reach 7% greater annual revenue growth. But why do so many fail to go beyond the one-way training provided through a typical Learning Management System?
A siloed sales tech stack is often the culprit.
By unifying your sales tech stack, you can enlist sales managers to participate a whole lot more. Finally, you can deliver insights like these to sales managers:
- Deal health score
- Deal risk insights
- Visibility into calls, emails, and meetings
- Visibility into buyer engagement
- Adoption of sales processes and methodologies, such as MEDDPIC
Once sales managers have access to this data in one place, they can prescribe training programs and content reps should check out.
At the same time, features like AI video role-plays and reinforcements help reps overcome the forgetting curve by helping them practice and retain knowledge.
Questions to ask yourself before consolidating
Now that you know why businesses are consolidating redundant sales technologies, and the use cases they are pursuing, here are some questions to ask yourself.
- When it comes to my current tech stack, what needs and pain points does my team have?
- Where are we paying for redundant features?
What tools are driving the most/least usage for us?
- What tools are creating silos and misalignment between different departments?
- Which of our vendor relationships are the most efficient and successful? Which ones are lacking, or taking up too much of our time?
- Are our sales tech costs where they need to be?
- Do the sales technologies we use integrate nicely?
Ready to see the magic of consolidating your revenue tech stack into a single platform?
Now that the benefits of consolidating your tech stack are clear and you’ve asked yourself if i makes sense for your organization, you might be ready to start evaluating a single-platform solution. If that’s the case, here are some dos and dont’s that will serve as a valuable guide when choosing a technology partner:
Ready to learn more about how to consolidate your sales tech stack? Get in touch with our team so we can talk through your challenges and understand how a consolidated tech stack will help your sellers be more productive.
This post was originally published in January 2022 and was updated in May 2023.