fbpx
Glossary » Digital Sales Room

Digital Sales Room

What is a Digital Sales Room? 

A digital sales room is an online space where B2B companies can share information and resources with their buyers to enable a streamlined buying experience. Also known as virtual deal rooms or sales microsites, digital sales rooms are the future of sales proposals.

The contents of a digital sales room often include product catalogs, price quotes, order forms, sales proposals, contracts, and other content assets that would be useful to customers. By making this information available online, companies make it easier for their customers to do business with them.

If you’re considering setting up a digital sales room for your business, there are a few things to keep in mind. First, you’ll need to decide what information you want to make available to your clients. This will help you determine the structure of your digital sales room and what resources you’ll need to create it.

Next, you’ll need to choose a platform for your digital sales room. There are a number of different options available, so it’s important to select one that will meet your needs.

How Digital Sales Rooms Enable B2B Buyer-Seller Collaboration

According to a Gartner report on digital sales rooms, “By 2025, 80% of B2B sales interactions between suppliers and buyers will occur in digital channels.” Digital sales rooms are an ideal platform for buyer-seller collaboration.

By providing a secure, centralized space for sharing documents and other information, digital sales rooms make it easier for buyers and sellers to work together on all deal stages.  

Digital sales rooms typically offer a variety of features that can be customized to meet the needs of specific sales projects.

For example, they can provide document storage and version tracking, as well as communication tools such as chat and video conferencing. Using a digital sales room enables buyers and sellers to work together more effectively, resulting in a faster and more efficient sales process.

While digital sales rooms offer many benefits, there are a few things to keep in mind when using them.

First, it is important to ensure that all members of the sales team and customer stakeholders have access. Second, digital sales rooms should be used in conjunction with other sales tools, such as customer relationship management (CRM) software. Finally, digital sales rooms should be regularly monitored and updated to ensure that they are being used effectively.

How Digital Sales Rooms Accelerate Results for Sales Teams

Gartner predicts, “By 2026, 30% of B2B sales cycles will be managed through digital sales rooms, which will then be used to manage the customer life cycle.” By providing a central hub for all sales-related information and all deal stages, digital sales rooms help sales reps work more efficiently and close more deals.

Digital sales rooms give sales teams a competitive edge by providing instant access to the latest information about the products, pricing, and contracts that are part of the deal. They provide insights and notifications on buyer engagement with the deal.

They also make it easy to stay organized and track progress on sales opportunities. In addition, they often integrate with eSignature software to enable customers to sign deals within the sales room. 

Digital sales rooms help sales teams close more deals by:

  • Streamlining the buyer journey and reducing friction in the buying process
  • Giving potential buyers instant access to the latest information about products, pricing, promotions, and contracts
  • Making it easy to stay organized and track progress on sales opportunities
  • Helping sales reps build strong relationships with clients
  • Accelerating deal cycles
  • Empowering buyers to make informed decisions faster

Digital Sales Room Features

As the digital sales landscape has continued to evolve, so too have the features and offerings of digital sales rooms. Today’s digital sales rooms are designed to provide a central hub and virtual space for buyers’ to access sales assets – from viewing product information and prices to signing contracts and placing orders.

Here is a closer look at some of the key features that you can expect to find in a digital sales room:

  • Product Information and Pricing: A digital sales room should provide up-to-date product information and pricing, so your clients can easily find the products they need and see how much they will cost. They can incorporate configure price quote software (CPQ) to enable price quotes to be integrated into the sales room.
  • Personalization: Digital sales rooms are branded and personalized for each customer depending on their product requests, location, level of product knowledge, and more, to create an excellent customer experience.
  • Embedded Sales Collateral: The digital sales room can host key sales content such as case studies and customer testimonials, demo decks, explainer videos, personal video messages, and product descriptions.
  • Deal Approval: A digital sales room should allow your clients to sign contracts and place orders easily.
  • Real-time Communication: Enabling communication within the sales room keeps deals on track and out of stakeholders’ email inboxes.

Security Best Practices for Using Digital Sales Rooms

Digital sales rooms are digital spaces where companies share information with clients. There are a couple of security best practices to keep in mind when using digital sales rooms:

  • Make sure only authorized personnel have access to the portal. This ensures that confidential information is not leaked.
  • Use security features, such as passwords and encryption, to protect the portal and its contents.

Digital Sales Room Technology and Integrations

Digital sales rooms have become increasingly popular in recent years as companies undergo digital sales transformation. They help streamline the sales process and improve communication between buyers and B2B sales teams. By integrating digital sales room platforms with other sales enablement technology, businesses can provide their customers with a seamless and efficient experience.

Here, we’ll take a look at how digital sales room technology and sales enablement software can be integrated to improve productivity throughout the entire sales process.

CRM

Digital sales room technology can be used to create a central repository for all sales-related information. This includes client contact information, product information, pricing data, and more. By integrating digital sales room technology with a CRM, businesses can provide their clients with a single place to access all the information they need to make a purchase.

CPQ

CPQ (configure price quote software) is integral to the creation of product configurations, accurate pricing, and sales quotes. These quotes are one of the primary digital assets integrated into the digital sales room. When the CPQ and digital sales room software connect seamlessly, the seller and buyer experience are greatly improved.

CLM

Contract management software integrated with the digital sales room enables sales, finance, and legal teams to access and approve one contract that is updated in real-time. This ensures version control and a streamlined approval workflow for both the seller and buyer.

eSignature

One key benefit of a digital sales room is all deal stakeholders work on deals from within one microsite. Integrating eSignature enables buyers to sign off on deals within the sales room which simplifies the deal-closing process.

Synonyms

  • DSR
  • DealRoom
  • virtual deal room
  • sales microsite
  • digital sales proposal
  • sales content hub
  • sales smart room
  • business relationship workspace

People Also Ask

Why use a digital sales room?

As digital transformation increasingly becomes the norm in business, many companies are turning to digital sales rooms as a way to improve their sales operations. A digital sales room is an online platform where sales teams can manage their sales pipeline, collaborate on deals, and access customer data.

There are many benefits of using a digital sales room, including:

1. Increased sales productivity: Digital sales rooms can help sales teams close deals faster by providing them with everything they need to know about a customer in one place.

2. Improved customer relationships: By having all of the information about a customer in one place, digital sales rooms make it easy for sales teams to build strong relationships with their customers.

3. Greater visibility into the sales pipeline: With digital sales rooms, managers can easily see which deals are in progress and where they are in the sales pipeline. This allows them to better understand where bottlenecks are occurring and take steps to address them.

If you’re looking for a way to improve your sales operations, a digital sales room is a great option to consider.

What content is hosted in a digital sales room?

A digital sales room is a digital platform that helps businesses manage and streamline their sales process. It provides a single, centralized location for storing and sharing all the digital content associated with a sale, including product information, pricing, contracts, and more. This makes it easy for sales teams to access the information they need, when they need it, and helps to ensure a consistent, smooth sales process.

Some of the digital content that is typically hosted in a digital sales room includes:

1. Product information: photos, videos, specs, features, brochures, data sheets, etc.
2. Pricing information: MSRP, discounts, special offers, etc.
3. Contracts and legal documents: NDAs, licensing agreements, terms and conditions, etc.
4. Customer information: contact details, account history, purchase history, etc.
5. Sales resources: presentations, scripts, proposal templates, training materials, etc.

A digital sales room can be a valuable tool for businesses of all sizes. It can help streamline the sales process, save time and money, and improve customer satisfaction. If you are considering implementing a digital sales room, be sure to consider what content you will need to host on it. This will ensure that you get the most out of your investment.

How does a digital sales room empower virtual selling?

A digital sales room, or virtual deal room, is a powerful tool that can help you sell more effectively, whether you’re selling in person or online. By providing a central location for all your sales materials, it makes it easy for potential customers to find what they’re looking for and learn more about your products or services.

And because it’s digital, you can update your sales room quickly and easily, making it an essential part of your virtual selling strategy.

Here’s how a digital sales room can help you sell more effectively:

By making it easy for potential customers to access and share their sales proposals and contracts with decision-makers, a digital sales room can help you close more deals. Because a digital sales room is easy to update, you can quickly add new products or services, edit pricing, revise contracts, and add new content. 

A digital sales room provides a central location for all your sales reps’ remote selling activities, making it easier to track deal progress and measure your success. Virtual deal rooms can help you create a professional, branded space that reflects your company’s image and values. Whether you’re selling in person or online, a digital sales room can help you close more deals and boost your sales.