Recently we’ve seen the rise of digital sales rooms within organizations. Sales teams are embracing this idea rapidly and for a good reason. That’s because digital sales rooms (DSRs) make it easier for buyers and sellers to close deals. Having a separate space for meaningful discussion and content experiences is crucial for businesses in a time when consumers are actively engaged everywhere.
The typical buyer journey now spans numerous digital channels, comprises various stakeholders, and involves more engagements. Let’s go over the basics of digital sales rooms and why they’re so vital for businesses looking to improve the way they collaborate on sales.
What is a digital sales room?
A digital sales room is an online space where B2B enterprises exchange data and resources within their teams to facilitate a purchase process. The future of impactful proposals is here, and it all depends on how you use virtual deal rooms or “sales microsites.”
Digital sales rooms commonly incorporate catalogs of products and pricing information. Moreover, they include sales proposals, order forms, contracts, tasks, and other content assets that everyone involved can find helpful.
Today’s customer journey is far from being a simple, straight path. Sales reps are accustomed to working with various stakeholders. This is why they expect a higher level of personalization when interacting with different digital channels.
With digital sales rooms, all invited members may access sales assets such as product details and prices. It also allows them to see all contracts and orders through a single virtual location accessible from any internet-enabled computer or device.
Moreover, digital sales rooms allow your sales reps to exchange data in real-time. It helps them in aligning with members of other departments (marketing, tech, legal teams) to secure clients. This more structured way of working improves the customer experience and allows to close deals much faster.
Here are the top 4 reasons why Digital Sales Rooms are here to stay.
1. Facilitate buyer-seller collaboration in B2B models
80% of B2B sales engagements between suppliers and customers will take place through digital channels by 2025. A digital sales room is perfect for both parties to work harmoniously.
Digital sales rooms facilitate easier collaboration between all the parties involved in the sales process. It gives a safe, centralized location for sharing documentation and other information across all deal phases. Standard digital sales rooms have a range of capabilities that can be tailored to match the requirements of specific projects.
They might, for instance, offer document storage, version control, integration with 3rd party apps, and communication capabilities like chat and audio/video conferencing. Sales teams can collaborate more successfully using a digital salesroom, leading to a quicker and more effective sales process.
You can also pair your digital sales room software with additional sales tools like customer relationship management software.
2. Enhance internal collaboration
In order to improve sales, it is essential for your sales team to be aligned with their goals. The digital sales room offers your team a 360 solution to easily collaborate with your sales team. The tool will keep team members informed of each sale’s progress through integrations with task management tools and CRMs, enabling them to take necessary steps for a conversion.
With all the information sorted in a single tool, sales teams can maximize their efficiency and generate greater revenue.
Digital sales rooms also enable your sales reps to interact with buyers at each stage of the sales cycle. Sellers can easily access the required information in the digital sales rooms because they have it all in one place.
3. Improves the efficiency of sales organizations
Experts anticipate that 30% of B2B sales cycles will depend on the efficiency of digital sales rooms used to manage the customer life cycle by 2030. Digital sales rooms help salespeople become more productive and close more transactions. This is because they serve as a central center for all sales-related data during all process stages.
Access to updated information about pricing, products, and contracts is a competitive advantage for sales teams using digital sales rooms. They provide information and alerts on how the buyer responds to the deal.
In addition, they make it simple to keep track of sales possibilities and keep an eye on their progress. Another feature many offer is the ability to sign contracts while still in the sales room via eSignature software integration.
4. Empower buyers
A DSR not only empowers sales reps but also empowers customers.
Customers typically receive crucial sales materials via email attachments if the company does not have an interactive content-sharing system. If they need additional information, the email becomes a lengthy discussion with numerous attachments, and the information is lost over time.
Digital sales rooms allow buyers to access a virtual “room” of assets that a sales representative has accumulated for their benefit. They no longer have to hunt for or forward emails to get the information they need and may share it with others to make it available.
This way, the sales process is transformed into a self-serve buying and learning experience, increasing customer satisfaction and interaction.
Simplifying this procedure for your prospects can set your sales process apart from the competition while providing sales with the tools they need to capitalize on a prospect’s interests effectively.
Digital sales rooms by nBold – Deal Rooms
Digital sales rooms are gaining traction as effective platforms that empower your sales teams and enhance collaboration on all fronts. There are several solutions out there that provide digital sales rooms. Your choice will depend on your existing tools and business needs.
nBold’s Deal Rooms are workspaces within Microsoft Teams where your sales team collaborates on closing deals. They can be integrated with your current CRM: Salesforce, HubSpot, and others, so that you bridge the information gap between the users of different platforms. You get all the tools, documents, and procedures that help your sales superstars close a deal.
You and your coworkers can collaborate on deals, track sales activity, establish assignments, and generate and store sales decks, contracts, proposals, and other types of documentation.
Moreover, it lets you organize the sales communication and coordinate them with other experts and stakeholders. So you can use a Deal Room to:
- Plan out your whole collaboration: You can obtain the Deal Room in Salesforce Teams for any critical deal. You may attain operational efficiencies from one contract to the next with Deal Rooms constructed with pre-built structure and content and ensure you don’t miss out on important deals.
- Add any content at the template level. This is a great way to ensure that your team access all relevant information.
- Secure your team with policies that your IT department will love. You may set up collaboration policies, including naming conventions, approval workflows, privacy and membership standards, and much more, throughout the template design process to ensure that your workspace and any shared prospect information are secure and protected.
You will have a Deal Room template that will contain all the information your sales team needs to successfully work on any deal. Then, you can use this template to quickly construct custom teams with cloned files, identical structures and folders, task boards, and all necessary material.
You can also control the criteria on a Deal Room setup. That can be the minimum deal amount and Opportunity stage in Salesforce, HubSpot or another CRM. So, when you create a new Opportunity in your CRM, a team from your Collaboration Template is instantly generated, and your sales team can begin working on a transaction immediately.
Each new Deal Room will have all the content your sales team needs to close a deal.
The Opportunity owner is then added automatically to the Deal Room. As a result, your CRM-trained salespeople are in sync with the rest of the team as they close deals. Your team is notified of the developments and gets to follow all Deal Room activities without a license.
Finally, you can archive, delete, or rename the associated Deal Room in Microsoft Teams once the deal is closed in Salesforce.
See in action
Digital sales rooms enable sales to take greater control of the sales process. Sales companies are adopting DSRs to complete more transactions faster because they can improve sales material curation, obtain extensive insights into stakeholders’ interests, and automatically capture contact information.
Be flexible in your approach when dealing with shifting buyer behavior and expectations. By staying up-to-date on information and prioritizing accessibility and openness for your prospects, partners, and stakeholders, you will position yourself for success in any digital sales room.