Sales Strategies in the Software Industry: Current Trends and Tools

Software companies use different strategies of sale for business growth, here we will discuss B2B sales, business strategies, and Freelance Service Sales.

 Business development in both B2B sales and freelance service sales often relies on leveraging specific tools and platforms to identify opportunities, build relationships, and facilitate transactions. Here are some tools and platforms commonly used for business development.

 B2B (Business-to-Business) Sales in software companies involve transactions between two businesses. In this context, software companies cater to the needs of other businesses, providing solutions tailored to enhance productivity, streamline operations, and meet specific enterprise requirements. B2B sales often entail complex negotiations, customized software solutions, and longer sales cycles, as the focus is on addressing the unique demands of corporate clients.

• What is CRM (customer relationship management)?

Customer Relationship Management, or CRM, is like a special toolbox that companies use to understand and take care of their customers. It's a mix of methods, plans, and technology that helps businesses keep track of how they interact with customers from the beginning to the end. The main aim is to make customer service better, keep customers happy, and boost sales. Imagine it as a superhero that collects information about customers from all sorts of places like the company's website, phone calls, live chats, letters, ads, and even social media. This superhero system also helps the staff who talk directly to customers by providing details about what they like, what they've bought before, and what worries them. So, CRM is like the secret weapon that companies use to make sure they know their customers really well and can treat them in the best way possible.

•  Why CRM benefits businesses?

The benefits of CRM systems apply to all types of organizations, ranging from small businesses to large corporations. They include the following:

1-Enhanced customer service: Having customer information, such as past purchases and interaction history, easily accessible helps customer support representatives provide better and faster customer service.

2-Trend spotting. Collection of and access to customer data let businesses identify trends and insights about their customers through reporting and visualization features.

3-Automation. CRM systems can automate menial, but necessary, sales pipeline and customer support tasks.

 Components of CRM:

 CRM software brings together details about customers and stores them in one place, making it easier for businesses to handle this information. As time has passed, more helpful features have been included in CRM systems. Now, they can record interactions with customers through email, phone, and social media. Many CRM systems also have automation features, which means they can automatically take care of tasks, calendars, and alerts.

These tools save time and effort. Additionally, managers can use CRM features to keep an eye on performance and productivity by looking at the information stored in the system. Common components and capabilities of CRM systems include the following:

1-Marketing automation. Customer Relationship Management (CRM) tools with marketing automation make marketing easier by doing repetitive tasks. At different stages of getting customers, like when someone is interested in buying, these tools can automatically send emails to try and turn them into actual customers. It's like having a helper that makes selling stuff smoother!

2-Sales force automation. These tools track customer interactions and automate certain business functions of the sales cycle. Sales force automation tools target sales functions where it's necessary to follow leads, obtain new customers, and build customer loyalty.

3-Contact center automation. Contact center automation makes the job of customer service agents easier by using prerecorded audio and software tools. These tools, connected to the agent's computer, help in solving customer problems quickly and sharing information efficiently. By automating tasks like handling customer requests, calls become shorter, and customer service processes become smoother. Technologies like chatbots are also part of automated contact center tools, enhancing the overall experience for users.

 Types of CRM technology:

 A properly planned customer relationship strategy can control both business operations and customer interactions at the same time. Sometimes, it includes CRM software. CRM software helps organizations track and organize their customer database. The main focus of CRM is to maintain healthy long-term relationships with customers. Have a look at Types of CRM technology:

1-Cloud-based CRM:

Cloud-based CRM, also called Software as a Service (SaaS) or on-demand CRM, uses the internet to store data on an external network. This means employees can access their info from anywhere with an internet connection. Sometimes, another company helps set up and maintain the system. This cloud setup is great for businesses with limited tech skills or resources since it's fast and easy to use. It makes managing customer relationships more flexible, helping companies stay connected and organized without needing lots of tech know-how.

Keeping data safe is a big worry for companies using cloud systems. In the cloud, the company doesn't directly control where and how its data is stored. If the cloud provider closes or gets bought by another company, the company's data might be at risk or even lost. There can also be problems when moving data from a company's internal system to the cloud. Cloud CRM is an option that companies might find budget-friendly. Vendors usually charge users on a subscription basis, offering monthly or yearly payments. Still, the cost is a concern because subscription fees can add up, potentially becoming more expensive than an on-site system. Popular cloud CRM providers include HubSpot, Salesforce, Zendesk, and Zoho.

2-On-premises CRM:

On-premises CRM means that the company takes care of its own CRM software. It's like having your own playground where you control who gets in, make sure everything is safe, and keep your toys (data) organized. Instead of renting space in someone else's playground every year, the company buys its own space and sets up the software on its own computers. The company has to do the upgrades and keep everything running smoothly. It's a bit like building your own treehouse – it takes time, but you have control. Some companies, especially those with tricky CRM needs, like this approach. Some cloud companies, such as Aptean and Salesforce, also let you build your treehouse in their cloud playground or your own – giving you choices!

3-Open source CRM:

An Open Source CRM system is a tool that allows companies to freely access and modify their source code. This means they can make changes to the system without incurring additional costs. These systems also provide the flexibility to add and customize data links on social media channels, helping companies enhance their social CRM practices. Popular platforms like Bitrix24, OroCRM, SugarCRM, and SuiteCRM offer alternatives to expensive proprietary options like Salesforce and Microsoft. Choosing a CRM deployment method depends on a company's specific business needs, available resources, and goals, as each option comes with different associated costs. Ultimately, companies can select the solution that best aligns with their requirements and budget.

 Contact Center: The sales and marketing collects the leads and preserves them in the system with information throughout the customer lifecycle. The contact center collects those data and proceeds with technical support interactions.

Social CRM: In simple terms, social media in CRM means that businesses talk with customers on Facebook, Twitter, and LinkedIn. People can share their thoughts about a brand on social media, whether it's good or bad. To make these conversations better, companies use special tools that watch what people say online. These tools look for specific words about a brand and find out who likes the brand and where they talk about it. Some tools help fix problems and answer questions that customers have on social media. Companies want to know if customers like their products and if they recommend them. They also use information from sales and marketing to understand customers better. Social CRM is not just about talking, it's also about creating a space where customers can help each other. People share reviews, solve problems together, and give ideas for new products. This helps companies improve their services and products based on what customers really want.

Mobile CRM: Salespeople and marketers really like using special apps on their smartphones and tablets. These apps are called CRM apps, and they help them a lot. With these apps, they can see important information about their customers and do work even when they are not in their offices. The apps use cool things like GPS (to know where they are) and voice recognition (so they can talk to their devices) to make it easy for them. This means they can get customer info from anywhere, which is super handy for their jobs.

Will CRM be affected by AI?

 CRM systems, which help businesses manage customer relationships, are tapping into emerging trends in AI, bringing about significant benefits. One notable area of improvement is sales forecasting, where predictive AI algorithms analyze historical customer and company data to predict future sales outcomes and market trends. This empowers organizations to make informed decisions. AI in CRM also streamlines mundane tasks like data entry and follow-up emails through automation, freeing up valuable time. Advanced chatbots and sentiment analysis further enhance customer interactions by identifying needs and informing future engagements. Big players like Hub Spot and Salesforce are leading the way by integrating cutting-edge AI features into their CRM platforms. However, the pace at which smaller organizations and startups, with fewer resources, adopt similar AI capabilities remains uncertain. Regardless, the integration of AI in CRM is poised to become increasingly prevalent, shaping the future of customer relationship management.

 Tools of CRM:

 1-Sale force:

 Salesforce is a special company that helps other businesses connect with their customers in a better way. They create computer programs that are stored in the cloud to make it easier for companies to find new customers, close deals, and provide excellent service. With Customer 360, their set of tools, your sales, service, marketing, commerce, and IT teams can all work together using the same information about customers. This helps your company become more customer-focused. Salesforce helps teams work well together by improving communication and productivity. It connects marketing and sales by sending personalized messages to potential customers and notifying the sales team when there's a new lead. Sales Cloud allows everyone in the sales team to access and share important customer information, making it easier to close deals. The Marketing Cloud app helps businesses send messages to potential customers in the right places.

 2-Hub spot:

 Hub Spot is a ‘business growth management platform’ or more straightforwardly, a Customer/Contact Relationship Management tool (CRM) that not only manages contacts, sales, pipeline, digital marketing, and lead nurture this also allows live chat, dynamic lists, forms for lead capture and email marketing to keep track of leads and customers at different stages in their journey. Hub Spot CRM is free It is made up of multiple tools and ‘hubs’ that can be bought separately or together, there are also premium options that can be downloaded and used out of the box. These are excellent, but depends on the company's choice, and what needs of the business.

 Proper migration and population allow a single customer view, that tracks their association with the relevant company, colleagues, activity, correspondence, list membership and engagement, website activity… the list goes on. This single customer view and the way it integrates across the platform is one of Hub Spot's greatest strengths.

Forms are the backbone of Hub Spot enabling data capture into the CRM from the website, social media platform, or landing page. Hub spot allows you to capture and store just about any piece of data you could want to know about your prospects and customers including their behavior on your website, personal information, and a historical record of their engagement with your brand.

 However, Hub-spot doesn’t get truly exciting until you add in one or more of the paid versions of the tools known as ‘hubs’ according to your need.

 3-Linked In sales Navigator:

 Sales Navigator is Linked In flagship product for sales teams, enabling reps, managers, and ops leaders to inform their approaches and strategies by taking advantage of the full breadth of Linked In expansive data, insight, and relationship-building tools. Sales Navigator is a deep sales platform that enables virtual selling by allowing sales professionals to build and maintain relationships with their buyers at scale. Sales Navigator is designed to be a centerpiece and fixture for modern B2B sales teams, integrating with other sales technologies (such as CRM) to provide a foundation of trusted, reliable, real-time data.

Sales Navigator is the best version of LinkedIn for sales professionals. It features a powerful set of search capabilities, improved visibility into extended networks, and personalized algorithms to help reach the right decision-maker at the right time. At its core, Sales Navigator helps sales professionals successfully perform three of the most critical functions involved with their discipline.

 Target: Quickly identify and learn about people and companies that are a likely fit for your product or service.

Understand: rack key developments at target accounts, such as decision-makers changing jobs or indicators of buying intent, to act on opportunities as they arise.

Engage: Connect and converse with prospects within a ready-to-do-business environment while tapping into the full extent of Linked In messaging and content-sharing capabilities.

4-Zoom Info's:

In today's highly competitive business landscape, generating high-quality leads is more important than ever. The right leads can help businesses grow revenue, build customer loyalty, and improve brand recognition for this purpose software companies also use (Zoom Info's) free marketing and sales lead generation tool. This tool helps businesses connect with their most valuable buyers and decision-makers exactly when they're in the market to buy. This also allows you to filter for companies based on industry, location, size, revenue, and other factors, helping discover prospects who are most likely to be interested in your product or service. Zoom Info's free lead generation tool helps businesses target accurate contact information for key decision-makers, including phone numbers and email addresses. This can help reach out to potential customers directly and start building relationships.

 5-Mailchimp

This tool empowers the users to a great extent as it provides complete control, a variety of templates for different purposes, seamless integration with other platforms, ease of use, and many more. The evolution of Mailchimp is uncanny, now the platform is expanding to different sectors like CRM (Customer Relationship Management), marketing assistance for small businesses, etc.

Mailchimp is free software but paying for some of its services. Mailchimp pricing is very affordable and diversified as well. This is something that makes Mailchimp a suitable marketing automation platform for small businesses as well as large firms. The scalability and flexibility it provides are simply outstanding. Email service providers like Gmail and Yahoo allow users to send an average of 20 emails at a time. When you compare this number with the email newsletter subscribers then you will realize that it will take ages to send one email to all customers. On the other hand, Mailchimp allows users to send up to an infinite number of emails or newsletters to an unlimited number of subscribers. Certainly, this will save a lot of time and effort. Now that you know what is Mailchimp, let’s see how it can work best for you.

 6-Email Marketing:

 Email leads are the most important element of a sales process, and for email lead generation, businesses must have a strategy to execute that process!  An email lead is a potential customer who has shown interest in a brand, product, or service and is willing to receive marketing emails about their business.

Email marketing lead generation is a method used to collect the information of potential customers for a business with the help of an email opt-in model. The main objective is to gather relevant details such as names, phone numbers, and email IDs of their prospect to further nurture turning them into your buyers.

A great email lead generation strategy helps in the following ways: 

· Target desired potential customers.

· Helps in nurturing the audience.

· Support in boosting brand awareness. 

· Influence the market to turn people into paying customers.

· Can generate more leads which will give you more sales.

7-DocuSign:

DocuSign is not a Customer Relationship Management (CRM) tool. DocuSign is a cloud-based electronic signature platform that allows users to sign and send documents electronically. It is commonly used for automating the process of obtaining signatures on various types of agreements, contracts, and other documents. DocuSign and CRM tools serve different purposes, they can complement each other in business processes. For example, a CRM system may integrate with DocuSign to streamline the document signing process as part of the overall customer relationship management workflow.

8-PandaDoc:

PandaDoc is a document automation platform that focuses on creating, tracking, and e-signing documents such as proposals, contracts, quotes, and other business-related documents. It is designed to streamline the document creation and approval process, making it easier for businesses to manage their paperwork and close deals more efficiently. While PandaDoc integrates with various CRM systems, it is not a CRM tool itself. It complements CRM software by enhancing the document management aspect of the sales and business processes. If you're looking for a dedicated CRM tool, you may want to explore options such as Salesforce, HubSpot, or Zoho CRM.

 9-Seismic:

Seismic is a fantastic tool for companies looking to boost their sales and marketing strategies. This platform is all about making things easier for businesses. It helps sales teams by providing them with useful tools for managing content, automating sales materials, and offering analytics. With Seismic, sales teams get the right information and resources to connect better with customers. The platform stands out in the industry, ensuring that sales teams secure more deals. Seismic allows sellers to create personalized presentations that make a lasting impression. Marketing teams also benefit by creating automated templates that guide sellers through a simple process to generate on-brand and personalized materials. The platform's dashboard makes updating thousands of documents a breeze, simplifying the entire process with just a click.

10-Highspot:

Highspot is the sales enablement platform. Highspot empowers companies to elevate customer conversations that drive strategic growth. The platform combines intelligent content management, training, contextual guidance, customer engagement, and actionable analytics. Highspot is a sales enablement platform that focuses on improving the effectiveness of sales teams. It provides features and tools to help sales professionals find and use relevant content, engage with prospects more effectively, and ultimately close deals.

Summary In simple words, CRM technology helps businesses keep track of customer information. But just having the technology is not enough. It's like having a fancy storage space for customer details. To make it useful, the data needs to be connected, organized, and easily accessible. Imagine if a company's customer data is scattered or repeated in different places, it becomes tough to understand the whole customer story. This can lead to problems like customers waiting a long time on the phone or getting frustrated with technical issues. So, companies need to make sure their customer data is clean and tidy. This means getting rid of repeated or incomplete information. Only then can CRM systems really shine and provide a great experience for customers.

Freelance platform used by software companies for lead generation:

1-Upwork:

Upwork is one of the most popular freelancing websites in the world. It is an online platform connecting freelancers with clients looking to outsource work. The services offered on the website are web development, writing, graphic design, data entry, and more. Upwork has a large pool of freelancers from around the world, with over 12 million freelancers and 5 million clients. The website has a user-friendly interface, making it easy for freelancers to find and apply for jobs and for clients to find the right freelancer for their projects.

2-Freelancer:

Freelancer.com is another popular online platform connecting freelancers with clients looking to outsource work. It is similar to Upwork in that it offers a wide range of services, including web development, writing, graphic design, data entry, and more. Freelancer.com was founded in 2009 and is based in Australia. It is a global platform, and it is also available in Pakistan. The website has over 20 million registered users worldwide, with over 20 million projects posted. Freelancer.com has a user-friendly interface that makes it easy for freelancers to find and apply for jobs and for clients to find the right freelancer for their projects. It also has various tools and features that help users manage their projects, such as time tracking, milestone payments, and messages. Freelancers can sign up for free, but Freelancer.com does take a commission on each project as a fee. The commission rate varies from 3% to 10% depending on the type of project, the freelancer’s membership level, and the chosen payment method.

3-Fiverr:

Fiverr is another best freelancing websites in Pakistan to work remotely. It is an online marketplace connecting freelancers with clients looking to outsource work. It was founded in 2010 and is based in Israel. The website has a unique approach compared to other freelancing platforms as it focuses on providing a platform for freelancers to sell their services as “gigs” for a fixed price, starting from $5. Fiverr is available in Pakistan and has a wide variety of services, including web development, writing, graphic design, digital marketing, and more. It has a large pool of freelancers worldwide, with over 200 categories and subcategories.

Its user interface is easy to use and navigate, making it simple for clients to find the right freelancer for their projects. The website also has various tools and features to help users manage their projects, such as messaging, order tracking, and reviews. Freelancers can sign up for free, but Fiverr takes a commission on each sale as a fee. The commission rate is 20% for a basic gig and 5% for the first order of extra fast delivery and professional services.

4-PeoplePerHour:

PeoplePerHour is a UK-based online marketplace connecting freelancers with clients looking to outsource work. It was founded in 2007, and it is available in Pakistan. It focuses on providing a platform for freelancers to sell their services on an hourly basis. PeoplePerHour has a wide variety of services, including web development, writing, graphic design, digital marketing, and more. It has a large pool of freelancers worldwide, with over 1.5 million and 200,000 registered clients.

The website has a user-friendly interface that makes it easy for clients to find the right freelancer for their projects. Also, it has various tools and features to help users manage their projects, such as messaging, order tracking, and reviews. Freelancers can sign up for free, but PeoplePerHour takes a commission on each sale as a fee. The commission rate is 15% for freelancers and 3.5% for clients.

5.Guru.com:

Guru is an online marketplace connecting freelancers with clients looking to outsource work. Guru connects employers and freelancers through their online platforms. Employers post job descriptions, including payment offered. Freelancers post profiles highlighting their skills and services. It was founded in 2001 and is based in the United States. It is available in Pakistan. Guru focuses on providing a platform for freelancers to sell their services on a per-project basis. Guru has a wide variety of services, including web development, writing, graphic design, digital marketing, and more. It has a large pool of freelancers worldwide, with over 3 million registered freelancers. The website has a user-friendly interface that makes it easy for clients to find the right freelancer for their projects. Also, it has various tools and features to help users manage their projects, such as messaging, order tracking, and reviews.

Freelancers can sign up for free, but Guru takes a commission on each sale as a fee. The commission rate varies from 8.95% to 14.95%, depending on the freelancer’s membership level.

Which platform uses software companies for self-promotion?

 Software companies use various platforms for self-promotion, and the choice of platform often depends on their target audience, marketing strategy, and the nature of their products or services. Here are some commonly used platforms for self-promotion by software companies:

1-Social Media:

Platforms like Twitter, Facebook, LinkedIn, and Instagram are popular for sharing updates, product releases, and engaging with the audience.

2-Company Website:

A well-designed and informative website is crucial for providing detailed information about the company, its products, and services. It serves as a central hub for potential customers.

4-Blogs:

Many software companies maintain blogs to share industry insights, provide tutorials, and showcase their expertise. Blogging can help establish thought leadership.

5-YouTube:

Video content is effective for demonstrating software features, providing tutorials, and creating engaging promotional material. Software companies often have YouTube channels for this purpose.

6-Community Forums:

Participating in and contributing to relevant forums and communities can help companies connect with potential customers, gather feedback, and build a positive reputation.

8-Email Marketing:

Companies often use email campaigns to reach out to their audience, share updates, and nurture leads.

8-Conferences and Events:

Participating in industry conferences, trade shows, and events provides opportunities for networking, showcasing products, and establishing a presence in the industry.

9-Press Releases:

Issuing press releases can help software companies announce new products, partnerships, or significant milestones to the media and the public.

10-Online Advertisements:

Paid advertising on platforms like Google Ads, social media, or other relevant websites can help increase visibility and reach a broader audience.

Ultimately, the choice of platform depends on the company's goals, target audience, and the type of content they want to share. Many companies use a combination of these platforms to create a comprehensive self-promotion strategy.

 Channels used by software houses for Communication :

1-Slack:

Slack is a digital workplace that allows to sharing of information and instant notifications. Slack is not primarily a Customer Relationship Management (CRM) tool. Slack is a collaboration platform designed for teams to communicate and collaborate in real time. It provides channels for organized communication, direct messaging, file sharing, and integration with various third-party apps and services. Slack can integrate with CRM systems and other business tools to enhance collaboration and communication within a team that may be using CRM for managing customer relationships

2-Google Meet:

Google Meet is video conferencing software developed by Google. It is designed for individuals and website development firms to host online meetings, webinars, and virtual events. Google Meet allows users to connect with others through audio and video conferencing and provides a chat feature for participants to communicate with each other during the meeting. It also integrates with other Google products, such as Google Calendar and Google Drive, making scheduling and collaborating on meetings and projects easy.

3-Microsoft Teams:

Microsoft Teams is a collaboration platform developed by Microsoft that offers chat, video conferencing, file sharing, and integration with other Microsoft Office 365 services. It allows users to work and communicate in real-time as a team across multiple devices and platforms. Microsoft Teams creates a shared workspace where team members can collaborate and share files, documents, and other resources. Microsoft Teams offers features like conversation threads, channels, and bots to streamline collaboration and automate tasks. Website development service providers widely use it to communicate with clients and internal teams.

4-Skype:

Skype is a telecommunications application that allows users to make voice and video calls and send instant messages and files over the Internet. It works on various platforms, including desktop computers, laptops, tablets, and smartphones. Skype was first released in 2003 and is a popular option for individuals and website development companies to communicate and collaborate remotely. Microsoft acquired Skype in 2011 and continues to develop and improve the platform.

5-GoToMeeting:

GoToMeeting is a web conferencing and online meeting platform that allows users to conduct virtual meetings, webinars, and video conferences. It is primarily designed for collaboration and communication purposes, enabling users to connect with others remotely. GoToMeeting is not a Customer Relationship Management (CRM) tool, GoToMeeting and CRM tools serve different purposes. GoToMeeting focuses on virtual meetings and collaboration, while CRM tools are dedicated to managing customer relationships and business processes.

6-Zoom:

Zoom is a video conferencing platform that allows users to conduct virtual meetings, webinars, and online collaborations. It provides features such as video and audio conferencing, screen sharing, chat, and recording capabilities. Zoom is not a Customer Relationship Management (CRM) tool. While Zoom facilitates communication and collaboration, it does not offer the comprehensive set of features found in CRM tools for managing customer relationships, sales processes, and related activities.