Sales Engagement Platform Market: - An Overview
Sales engagement platform streamlines the sales process through integrations with sales communication channels and tools, management of sales messaging and materials, and automation of tasks, messages and workflows. This platform enables companies to combine their sales and marketing efforts to create personalized and automated sales journeys, these can include emails, calls, social posts, meetings, and text messages. By standardizing both messaging and the overall sales experience, teams can report on the effectiveness of specific messaging and tactics while also reducing administrative tasks for sales representatives. Due to this, the demand for sales engagement platform increases as it integrates with existing sales solutions, such as a team’s CRM software, email software, email tracking software, outbound call tracking software, sales intelligence software or lead intelligence providers which would drive the market growth.
Impact of COVID-19 Pandemic Outbreak on Sales Engagement Platform Market
Due to coronavirus outbreak, a drop in demand from clientele in certain sectors like travel, hospitality, aviation, would see a corresponding steep drop in their interest levels to carry on with many business functions. And every other sector will be in a conservative mode and less keen to spend. Historically, the market for big data analytics has grown by almost 15%-18% globally in the past 3 years. Due to the COVID-19 outbreak, adoption for sales engagement platform is estimated to increases by nearly 7%-9% in Q3-Q4 2020, especially in retail sector due to increasing adoption essential goods and IT and telecom sector for collaborative applications, big data and cloud-based solutions.
Sales Engagement Platform Market: - Market Dynamics
Increasing Real-time Analytics is driving the growth of Sales Engagement Platform Market
Sales engagement platform makes real-time recommendations accessible to representative during execution. For example, email templates or presentations decks provide content that sellers should use. Real-time wikis might provide instant answers to buyers’ questions. Technologies include knowledge management and content management. Much of this functionality in this subcategory is included with sales enablement applications that provide solutions for onboarding and training. Moreover, these platforms also automate data collection from various sales engagement activities, which can increases the demand for the sales engagement platform market.
Increasing Transmission of Actionable Information
Accurate and actionable information received at the right time can help a company to assess marketing and sales activities performance, inside-sales/ sales representative’s performance, mitigate the risks, and improve upon the results. Moreover, the platform helps to understand and strategize the KPIs to assess the performance of inside-sales/ sales representative and the marketing & sales activities/ campaigns being run, which would fuel the market growth.
Inconsistent Lead Management is slowing the Growth of Sales Engagement Platform Market
As the world has become a common market place, there are more and more leads, prospects and customers data to deal with. Different tools like emails, website, marketing automation, CRM are used to work upon and manage the data independently or in loose sync with each other across the sales engagement cycle which resulting in loss of opportunities, inefficiencies and un-productivity which can be a restraint for the market.
Sales Engagement Platform Market: Key Players
Key players in the sales engagement platform market are focusing on business expansions and strategic partnerships, agreements, and collaborations with the other players to increased productivity of the sales workforce for sustained business growth. The major players offering sales engagement platform include SAP, Bigtincan, Upland Software, Showpad, Seismic, Highspot, Accent Technologies, ClearSlide, Brainshark, and among others.
Sales Engagement Platform Market: Segmentation
By Component, Sales Engagement Platform Market is segmented into-
By Industry, Sales Engagement Platform Market is segmented into-
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain of the global sales engagement platform market. The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with sales engagement platform market attractiveness as per segments. The report on sales engagement platform market also maps the qualitative impact of various factors on sales engagement platform market segments and geographies.
Sales Engagement Platform Market: Report Highlights: