For most startups, cash flow is an issue. So, how do you speed up cash flow? You speed up your sales process. After all, a faster process means shorter sales cycles, quicker time-to-revenue, and less time waiting for cash to flow into your business.
Luckily the tech you need to do just that is more affordable and less complicated than ever before. Here’s what you need to know.
How do you speed up your sales process?
You keep your sales team focused on customers by eliminating administrative slowdowns, hiccups, errors, mundane tasks, and manual workflows. You do this by automating as much of your sales process as you can using robots.
Well, actually, they’re called sales bots.
What is a sales bot?
Sales bots are a form of artificial intelligence (AI) that allows sales teams to pass off admin work and start spending their time in more productive ways.
Sales bots can help automate your sales process and improve efficiency by enabling sales teams to qualify leads faster, decrease administrative tasks, and shorten sales cycles.
Research from the Harvard Business Review showed that large companies who use AI to automate their sales process had an increase in leads and appointments of more than 50%, cost reductions of 40%–60%, and call time reductions of 60%–70%.
But what about small businesses and startups who don’t have the technical staff or the budget to implement AI or build custom sales bots?
The solution is CompanyHub.
What is CompanyHub?
CompanyHub is a new kind of customer relationship management (CRM) system that lets any startup, on any budget, with any technical skill set, create sales bots that automate their sales process.
Along with general CRM features like contact management, sales pipeline management, quotes, and product management, CompanyHub has developed a cheap and easy way for startups to build sales bots using something call UTron.
What is UTron?
UTron is like a visual programming language that CompanyHub developed for everyday business owners and sales managers to use to create their own sales bots and automate anything.
UTron allows anybody to create efficient sales bots that automate the boring stuff, so your sales team can do the productive things that close sales.
Some examples of things that can be automated:
- Send birthday emails
- Send a sequence of emails
- Send emails to clients that stopped giving work
Reminders to Clients
- Followup before Quote expires
- Send periodic reminders till invoice is not paid
- Send automatic mail if verification process not complete
Automatically Create Tasks for Sales People
- Create followup tasks for contacts that have lost touch
- Create a sequence of tasks for sales person when a deal is won
- Create followup task for salesperson if Quote about to expire
Alerts to Sales People
- Alert a salesperson if a deal is not progressing
- Remind a salesperson if no conversation with a hot lead for many days
- Congratulate a salesperson on winning a big deal
Notifications & Alerts to Managers
- Send an alert if quote product discount exceeds 40%
- Alert manager if a salesperson doesn’t win enough deals in a month
- Inform manager if a big deal if closed
Minimize Data Entry
- Transfer records from one sales person to another
- Update customer status when a deal is won
- Automatically create a deal when a company is created
Create Your Own Business Rules
- Notify if a discount is more than X% & don’t allow if more than Y%
- Check & disallow duplicates
- Assign sales person based on location/industry
What will you automate?
It’s no longer science fiction. It’s no longer too expensive or too complicated. Now that sales bots are in reach for your startup the possibilities are endless. What will you automate to keep your sales team competitive and productive?
Editor’s Note: This article is part of the startup tools blog series Run Your Business brought to you by the marketing team at UniTel Voice, the virtual phone system priced and designed for startups and small business owners.