A few years back when the recession hit, businesses put infrastructure investments on hold—postponing important additions and upgrades to hardware and software right and left. Not the ideal situation if you were an enterprise software salesman! While we may not be in the clear yet for the economy as a whole, in the business arena, we are starting to see resurgence in IT A few years back when the recession hit, businesses put infrastructure investments on hold—postponing important additions and upgrades to hardware and software right and left. Not the ideal situation if you were an enterprise software salesman! While we may not be in the clear yet for the economy as a whole, in the business arena, we are starting to see resurgence in IT investments and upticks in buying activity…which is great news for software and IT vendors!
Check out some of these recent statistics from Gartner:
- In 2010 there was a 4.5% increase in enterprise software spending – amounting to $110.8 Billion
- In 2011, Gartner predicts an increase of 9.5% in enterprise software spending
- The enterprise software market is set to grow nearly 33% by 2014
In prior economic recoveries, organizations have used enterprise software to gain a competitive edge in productivity and capture revenue opportunities. Thus it comes as no surprise why we’re seeing an increase in spend with the current economic recovery. Executives are shifting their focus from cutting costs to driving top-line growth, turning to IT as a catalyst to drive business opportunities and growth. Today, many businesses are gaining an edge through cloud services, and sales numbers are reflecting that. In the enterprise software space, SaaS is predicted to grow to 10% of enterprise applications software spending, or an estimated $10 billion in 2011, increasing to $20 billion by 2015 (Gartner).
While these predictions bode well for IT vendors, today’s buyers expect more than ever from enterprise sales personnel and have become increasingly skeptical. And businesses need to cater to that mindset if they expect to see success. Consider some industry statistics:
- 54% of tech buyers say sales reps come to meetings under-prepared
- 63% of tech buyers are less than satisfied with the quality of information received from sales reps
How can enterprise sales reps outsmart these statistics and still harness the wave of increasing IT spend? Using SaaS sales enablement technologies is one solution. When leveraged in-stride with website analytics tools and integrated with data in your CRM, sales reps can use sales enablement platforms to be more informed of prospect interests heading into sales meetings. Software with features like rapid search, spotlights, and innovations allow your sales reps to customize landing pages before or after meetings with targeted, meaningful information your prospect wants to hear—driving more meaningful conversations and standing out from the competition.