What is a Revenue Amplification Platform?
A revenue amplification platform is a software platform for sales teams that supports the sales process from opportunity to close and all of the stages and details in between. What makes it unique and valuable is that all of the software you would normally use throughout the sales process are brought together into one sales workflow.
For example, your post-qualification proposal will go out in a DealRoom, or digital sales proposal. That DealRoom can be refreshed at the deck stage to include sales collateral, contract terms and conditions, statement of work, whatever is most relevant to the proposal. The proposal can also include price quotation, product parts, margin discounts, as well as billing information and e-signature.
When you bring everything together into one location, integrating all of the software that would normally be standing alone, you have everything you need to execute a deal and close. Working from a unified sales platform accelerates sales team responsiveness, reduces the sales cycle, increases close rates.
What’s the benefit of a Revenue Amplification Platform for Sales Operations leaders?
Sales Operations leaders typically struggle with both productivity and efficiency of their sales organization. A revenue amplification platform enables sales teams to work with all of their sales technologies from within their CRM, as one workflow, rather than working with separate silo software solutions. Operating from one workflow increases sales team efficiency and productivity.
An example of the increased efficiency is that there are no separate logins for your contract management solution, your e-signature, and your sales proposal software. It’s all in one location, working from opportunity level within your CRM.
Your CRM is the focal point of your sales team’s daily habit. A revenue amplification platform simply completes the workflow that they’ve already started within your CRM, connecting all of the separate software used to engage with buyers, create proposals and contracts, and close deals.
Sales Operations leaders should implement a revenue amplification platform because, as you scale, the optimal way to improve the operational efficiency and productivity is to consolidate your sales technology. Replacing separate standalone solutions with a unified cooperative platform inherently increases efficiency and productivity.
How does managing the sales process within a Revenue Amplification Platform increase sales team responsiveness?
Studies show that anywhere from 50% to 78% of buyers purchase from the vendor that responds to their inquiry first. Quick responsiveness to leads is so important that the odds of being the first to qualify a lead and progress them in the pipeline are 21 times higher when the lead response is five minutes as opposed to 30 minutes.
A revenue amplification platform enables sales reps to leverage integrated technology for improved lead intelligence and personalized communication with prospects. Integrating all sales tools with the CRM and working from one source of truth enables sales reps to respond to leads faster, with greater depth of knowledge, and with personalized content that speaks to their needs and helps them make informed decisions.
How does managing the sales process within a Revenue Amplification Platform reduce the sales cycle?
Reducing the sales cycle requires saving time, increasing efficiency in your workflow, and responding quickly to buyers. A revenue amplification platform reduces the burden of admin tasks and streamlines the sales process so sales reps have more time to focus on moving deals forward in the pipeline.
Once you have a revenue amplification platform set up, the key benefit is that you can learn from the sales workflow and from the sales insight data that has been collected. The data helps Sales Operations leaders optimize sales workflows, improve upon sales processes, and guide your sales reps to an elevated standard of execution.
How does managing the sales process within a Revenue Amplification Platform increase close rates?
B2B customers are more than half-way through their decision-making process before engaging with a sales rep. They have already done their due diligence and they’re ready to purchase. Yet, sales reps respond as if the customer is still at the beginning stages of their buying journey.
Businesses need to respond to buyers where they are in their journey, and fast. 50% of buyers choose the vendor that responds first. As mentioned above, when your sales team works from an integrated Revenue Amplification Platform, they can respond quickly to buyers. Their CRM, sales collateral, quote generation capabilities, and sales proposal software are all connected so generating personalized sales proposals and contracts is fast and easy.
Sales reps’ level of execution also impacts close rates. A sales rep may spend 15 minutes putting together a proposal for one prospect, and then an hour putting together a proposal for a different prospect. Typically the close rate will be higher where you’ve put your time and your effort.
Using a Revenue Amplification Platform standardizes best practices across all opportunities, which has a clear impact on close rates.
How does using a Revenue Amplification Platform benefit the buyer?
Buyers benefit from using a revenue amplification platform in several ways: a better buyer experience, receiving personalized content and proposals, and one centralized location for the deal workflow.
Essentially, it helps the buyer make an informed decision. The user experience is more intuitive. With all deal assets in one location, it’s easier to access the information buyers need to make a purchasing decision, and it’s easier to share with other stakeholders.
Buyers also appreciate how quickly sales reps can respond to their needs when using a revenue amplification platform. Sales teams have quick access to high-quality lead information from their CRM integrated with technology to send out personalized communication with minimal touches. A unified revenue amplification platform gives the buyer the correct, relevant information fast.
The added advantage of a revenue amplification platform is in its ability to integrate engaging personalized content into the sales proposal. Visual assets, such as videos and case studies, communicate a compelling story that can drives the buyer to take action.
Buyers have one centralized location in which their deal is presented. With everything they need in one location, they have one cohesive proposal they can use to compare with proposals from other vendors.
They’re also able to share the proposal with their stakeholder team within the company in one easily shareable link, or DealRoom micro website. All stakeholders have access to the same source of truth, a DealRoom that consolidates all collaboration between the sales rep and the buyer into one story.
How does using a Revenue Amplification Platform benefit the sales team?
A revenue amplification platform includes multiple tools which automate the sales proposal, contract generation, approval, and signature workflow. The benefit to the sales team is in the guided selling process. Content assets are mapped into the relevant qualification questions. When you’re being guided through the process, you already have the prompts and cues to help present the relevant content to the buyer.
For example, if the opportunity that you’re servicing is in the manufacturing industry, once you’ve answered that qualification question in the guided selling process, then all of the relevant content and case studies relevant to that industry will be shortlisted for you. Rather than sifting through hundreds of assets, sales reps are given a list of relevant content which is a huge time saver.
A revenue amplification platform is an extension of an account-based marketing solution. It’s an account-based selling solution which allows you to answer qualification questions and become more specific and accurate in the content and resources that you share with the buyer.
What sales tools comprise a Revenue Amplification Platform?
A revenue amplification platform is integrated within the CRM. There is a single sign-on with the CRM so sales reps are working from one sales proposal software stack comprised of the following tools:
- Sales Playbook and Guided Selling Workflow
- Configure-Price-Quote (CPQ)
- Content Sharing and Management
- Contract Management
- Document Generation
- Subscription Management
- Engagement Tracking and Insights
Does the Revenue Amplification Platform provide analytics?
Sales teams need unified data insights from which to make decisions about their prospects. Sales Operations leaders need accurate data from which to forecast opportunities in the pipeline and optimize the sales process.
A unified Revenue Amplification Platform ties all sales activities together and eliminates the gaps in data that result from using stand-alone tools. You can track the buyer journey because all systems within the platform speak to each other.
Part of the data insights come from the activity stream. The salesperson receives an alert every time someone is engaged with one of the DealRooms that they have shared with a potential buyer. They will know how many times they’ve opened a DealRoom, and who they shared it with on their team.
The importance of the activity stream is that sales teams work from accurate information about engagement on their deals and how they are progressing, rather than gut feelings. It enables salespeople to reach out to prospects with certainty and to add value with each conversation, rather than just to see if they’ve received something.
Data insights also come from other buyer engagement signals. For example, when viewing analytics on a DealRoom, you can see the scroll depth and heat map. You can measure how much time a buyer spent on various parts of the DealRoom, such as the content assets or the contract. By knowing how much time was spent at particular parts of the buyer’s journey you can optimize those touchpoints. You’ll be able to determine where the friction points are, what needs to be improved, and which parts of the platform have the greatest impact on buyer experience.
What differentiates the DealHub Revenue Amplification Platform from other sales proposal software?
There is a wide spectrum of sales proposal software on the market today. On the light end you have sales proposal software which are essentially a container for all of the class rules and tools that you might want to include when you send out a proposal. Most of them are built for simple use cases and smaller customers. On the other end are heavy, legacy systems which are difficult to configure and take months to implement.
DealHub’s Revenue Amplification Platform is different. It has a full stack of robust tools, yet it’s easy to use and easy to configure.
“DealHub is an incredibly innovative sales enablement tool that has allowed us to consolidate quoting, document (micro-site) generation, and e-signature all in one application. The dynamically generated experience you can create based on questions and answers (truly guided quoting!) allows us to generate the correct product mix, with optimized pricing, and a multi-media, interactive micro-site tailored specifically to each individual customer, all in one incredibly cost-effective application.”— Bruce Harris, Director IT and Enterprise Business Applications, Asure Software
The majority of sales proposal solutions are used for one function and require add-ons to complete an organization’s full sales proposal needs. For example, you would need to add on software for CPQ and Contract Management. Every time you’re adding additional external software into your sales proposal platform, you then have a blind spot in the data reflecting the buyer engagement at each stage.
So, the advantages of DealHub’s unified Revenue Amplification Platform are twofold.
- There are no blind spots in your data story. You have one journey with 100% visibility.
- Cost savings are significant when you consolidate your sales stack and purchase one tool that does it all. When you’re adding all of these additional software on top of your proposal platform, the total cost of ownership becomes much more than the initial outlay.
When purchasing one solution, there is one price, one cohesive journey, and one workflow for your sales team, which is by far a more cost effective, productive, and scalable way to implement a software solution.
DealHub’s unified Revenue Amplification Platform provides additional value in its visualization, user interface, and streamlined functionality. Within the platform is our DealRoom, a sales proposal micro-website which brings all the functionality of the sales proposal software together into one streamlined experience for the buyer.
As opposed to heavy legacy systems which require months to implement, DealHub is easy to use and requires no coding. The DealRoom could be up within a couple of days and the CPQ would be fully implemented in less than a month.
DealHub: One platform to streamline the sales process
We believe your sales software should streamline what you already do. It should enable your sales team to work in one fluid motion from opportunity to close. Working within DealHub Revenue Amplification Platform enables sales teams to leverage a streamlined sales process that benefits buyers and sales reps alike.
DealHub eliminates multiple back and forth emails, time-consuming administrative tasks, toggling between disparate sales software, tracking each part of the buyer’s journey separately, and relying on gut instinct to determine buyer engagement.
If your team worked from within one guided selling process, straight out of your CRM, using unified sales tools, with all insights and data visible across your sales platform, what would that mean to your efficiency, productivity and close rates?
Inside DealHub everything is easy to use, intuitive, fast, and quick to customize. The complete sales workflow is right at your fingertips in one centralized location.