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Gartner: how can enterprises prepare for IOT transactions?

if your enterprise has been in the highly competitive IOT market, it is time to take action in sales enablement to ensure business success

smaller but flexible and agile technology service providers are facing the dilemma of shortage of sales resources, while large providers must deal with a series of challenges related to sales support, especially that they not only need to align their IOT business objectives with the target market, but also need to coordinate a large number of internal sales resources and processes

the sales information conveyed to the market is usually not focused enough and overemphasizes technical details, and eventually is often drowned out by other voices in the highly competitive market. Many enterprises try their best to show the ability and value verified by the market; However, some enterprises have to rack their brains to achieve revenue goals because customers need more complete solutions, long sales processes and uncompetitive salesperson compensation plans

in view of this, Gartner believes that by 2020, the turnover rate of IOT business sales executives working in technical service providers will be twice that of non IOT business sales executives

how to sell IOT solutions

that is, the air filled flexible packaging film commonly known as bubble film. The following are three best practices for successfully selling IOT solutions:

1. Incorporate IOT application scenarios into sales tools and marketing information

understand the primary pain points of customers, and take the business value and achievements of IOT as selling points. Create sales tools and information that focus on the specific application of IOT. Because they can best highlight the use results of real customers in business situations, and are undoubtedly the most eye-catching method to reflect value and ability

however, at present, there are still a large number of technology providers in the market that blindly emphasize the details of technology or functions, rather than focusing on how to combine IOT solutions with customer needs to achieve real business value. Therefore, IOT technology and service providers need to focus on communicating the business benefits brought by IOT, such as business value, digital business model, etc

for example, Dell technologies focuses the application of IOT on three vertical markets: energy, manufacturing, transportation and logistics, so as to speed up the sales process of its edge computing. The process of implementing edge computing in the above markets is detailed through the blueprint of the solution, showing the main revenue drivers and customer value of each application scenario. Dell said that 82% of its edge computing project contracts were successfully signed because of this solution blueprint

2. Make full use of the customer experience center

the customer experience center (innovation laboratory/Design Center) can become a strong support for sales and help prove your company's ability to achieve business value. You can invite potential customers or existing customers to participate on site, work with trained employees to design and/or build IOT strategies or solutions, and at the same time, fully demonstrate your IOT product line

for example, cognizant has established a customer experience center to interact with customers and sell IOT consulting services, including: determining business value and describing customer journey, conceiving equipment industrial design, defining architecture, and evaluating the readiness of enterprises to integrate it/ot systems with IOT. The sales team can make full use of this central resource throughout the sales life cycle

3. Create a well-trained consulting sales organization

in view of the complexity of IOT solutions, the sales team needs to have the sales ability of technology and solutions. In order to achieve the best sales effect, it is recommended to create a well-trained and low water absorption sales team with cross functional skills, update the sales compensation plan according to the market situation, and reset the sales cycle indicators

the above measures mean that you must invest resources and carry out training to understand customers' business needs, have the ability to help customers formulate IOT business plans and master relevant product knowledge in order to successfully sell more complete solutions and series of products

Vodafone is a service provider with a cross functional IOT sales team. The company's exclusive IOT business department is composed of more than 1400 employees, which can be called the strongest team of IOT in major telecom companies around the world. Recently, it began to assign IOT sales experts to various regions to provide sales support. The new material leader company focused on more than 168 high-tech enterprises in the integrated manufacturing system domain at the k2016 exhibition, and also played the role of skill seed for local sales support. Gartner recommends that in-house experts be fully trained to expand IOT sales opportunities

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