Recently we have seen the emergence of digital storefronts in organizations. Sales teams are quick to embrace this idea, and with good reason. This is because digital salesrooms (DSRs) make it easier for both buyers and sellers to close deals. At a time when consumers everywhere are actively engaging, it's critical for businesses to have a separate space for meaningful discussion and content experiences.
The typical buyer journey now spans multiple digital channels, involves multiple stakeholders, and requires more engagement. Let's take a look at the basics of digital salesrooms and why they're so important for companies looking to improve their sales collaboration.
What is a digital salesroom?
A digital storefront is an online space where B2B companies share data and resources within their teams to facilitate a buying process. The future of effective deals is here, and it all depends on how you use virtual trading rooms or "sales microsites".
Digital salesrooms often contain product catalogs and price information. In addition, they contain sales offers, order forms, contracts, tasks and other content that could be useful to everyone involved.
Why are digital retail spaces important?
Today's customer journey is anything but a simple and straightforward path. Salespeople are used to working with multiple stakeholders. Therefore, they expect a higher level of personalization when interacting with different digital channels.
With Digital Sales Rooms, all invited members can access sales resources such as product details and pricing. Also, you can view all contracts and orders from a single virtual place that you can access from any computer or device with internet access.
In addition, digital salesrooms enable your sales staff to exchange data in real time. This helps them coordinate with members of other departments (marketing, technology, legal) to attract clients. This more structured way of working improves the customer experience and allows you to close deals much faster.
These are the top 4 reasons why digital retail spaces are here to stay.
1. Facilitate buyer-seller collaboration in B2B models
80%of B2B sales engagements between suppliers and customers will be through digital channels by 2025. A digital retail space is perfect for both parties to work together harmoniously.
Digital salesrooms make it easier for everyone involved in the sales process to work together. Provides a secure, centralized location for sharing documents and other information across all stages of the business. Standard digital salesrooms come with a variety of features that can be customized to meet specific project needs.
For example, they can offer document storage, version control, third-party application integration, and communication features such as chat and audio/video conferencing. Sales teams can collaborate more successfully using a digital sales floor, resulting in a faster and more effective sales process.
You can also combine your digital sales software with additional sales tools such as customer relationship management software.
2. Improving internal collaboration
To improve sales, it's important to keep your sales team aligned with your goals. The digital sales floor offers your team a 360-degree solution for easy collaboration with your sales team. The tool keeps team members updated on the progress of each sale through CRM integrations and task management tools so they can take the necessary steps to convert.
With all information organized in a single tool, sales teams can maximize their efficiency and generate more sales.
Digital salesrooms also enable your sales reps to connect with buyers at every stage of the sales cycle. Sellers can easily access the information they need in digital storefronts because they have everything in one place.
3. Improves the efficiency of sales organizations
Experts are counting on it30%of B2B sales cycles will depend on the efficiency of the digital salesrooms used to manage the customer lifecycle by 2030. Digital salesrooms help salespeople be more productive and close more deals. Because they serve as a central hub for all sales-relevant data in every process step.
Access to up-to-date pricing, product and contract information is a competitive advantage for sales teams using digital storefronts. They provide information and warnings about how the buyer is reacting to the deal.
Plus, they make it easy to track leads and monitor their progress. Another feature that many offer is the ability to sign contracts while still on the sales floor through e-signature software integration.
4. Empower buyers
A DSR not only strengthens sales people, but also customers.
Customers often receive important sales materials via email attachments when the company does not have an interactive content sharing system. If they need additional information, the email will become one long thread with multiple attachments and the information will be lost over time.
Digital salesrooms allow buyers access to a virtual “room” of assets that a salesperson has accumulated for their benefit. You no longer have to search or forward emails to get the information you need and can share it with others to make it available.
Thus, the selling process becomes a self-service buying and learning process, increasing customer satisfaction and interaction.
By simplifying this process for your prospects, you can differentiate your sales process from the competition while giving sales the tools they need to effectively capitalize on a prospect.
Guide: Integrating Microsoft Teams and Salesforce
- Why you should integrate Salesforce with Teams
- All integration options
- How to set up integrations
nBold Digital Deal Rooms – Deal Rooms
Digital showrooms are gaining traction as effective platforms that empower your sales teams and improve collaboration on all fronts. There are several solutions that provide digital retail spaces. Your choice depends on your existing tools and business needs.
by nBoldoffer roomsThese are workspaces in Microsoft Teams where your sales team works together to close deals. They can be integrated with your current CRM - Salesforce, HubSpot and others - allowing you to bridge the information gap between users on different platforms. You get all the tools, documents, and procedures to help your sales superstars close deals.
You and your colleagues can collaborate on deals, track sales activity, define tasks, and create and save sales presentations, contracts, quotes, and other types of documentation.
In addition, you can organize business communication and coordinate it with other specialists and stakeholders. Therefore, you can use a trading room to:
- Plan your entire collaboration: You can get the Business Room in Salesforce Teams for all important deals. You can achieve business-to-business operational efficiencies with Business Rooms built with pre-packaged structure and content, ensuring you don't miss important deals.
- Add any template-level content. This ensures that your team has access to all relevant information.
- Protect your team with policies your IT department will love. You can configure sharing policies, including naming conventions, approval workflows, privacy and membership standards, and more, throughout the template design process to ensure your workspace and any information shared by prospects is safe and secure.
How does the trading room work?
You have a deal room template that contains all the information your sales team needs to successfully work on a deal. You can use this template to quickly create custom teams with cloned files, identical folders and structures, task boards, and all the necessary hardware.
You can also control the criteria in a trading room's settings. This can be the minimum close amount and opportunity stage in Salesforce, HubSpot, or another CRM. So when you create a new opportunity in your CRM, a team is instantly generated from your collaboration model and your sales team can start working on a deal right away.
Each new deal room includes all the content your sales team needs to close deals.
The opportunity owner is automatically added to the deal room. As a result, your CRM-trained sales reps are in sync with the rest of the team as deals close. Your team will be notified of developments and can follow all Deal Room activity without a license.
Finally, you can archive, delete, or rename the associated deal room in Microsoft Teams after the deal is closed in Salesforce.
see it in action
Digital salesrooms allow sales to have better control over the sales process. Distributors use DSR to close more deals faster because they can better curate sales collateral, gain insight into stakeholder interests, and automatically collect contact information.
Be flexible when it comes to changing buyer behavior and expectations. By staying current with information and prioritizing accessibility and openness with your prospects, partners, and stakeholders, you position yourself for success in any digital storefront.
Why are digital sales important? ›
Digital selling leverages social media, analytical tools, and a collaborative mindset to create a seamless connection between sales, marketing, and customers. It has changed the way companies engage their customer base, resulting in an enormous potential for sales and marketing professionals everywhere.Why do organizations need digital sales? ›
Digital selling has proven to be more effective too. According to Forbes, sales executives say the top benefits of digital transformation are improved operational efficiency (40%), faster time to market (36%), and the ability to meet customer expectations (35%).What is the digital sales process? ›
Digital selling is the ongoing process of leveraging digital channels to find, engage and connect with prospective buyers. The goal is to build relationships on digital platforms and turn online connections into offline sales conversations. The modern buyer is savvy in their approach to identifying potential suppliers.What is a digital sales platform? ›
Digital sales refer to selling through a form or multiple forms of digital media. In digital sales, companies use virtual channels to contact prospects, provide education about products or services offered and offer solutions that meet prospects' needs.What is a digital sales room? ›
A digital sales room is a centralized location or microsite where sales reps and buyers can collaborate and access content that is relevant to the deal cycle.What is an example of digital sales? ›
Examples of digital selling
Digital selling takes place via a variety of common online channels, including: Websites. Having a landing page where customers can click through and learn about your products or services is vital. Enabling your customers to order online is a great way to make buying fast and easy.
Organizations across industries enjoy the benefits of digital transformation: It enables businesses to modernize legacy processes, accelerate efficient workflows, strengthen security, and increase profitability. 90% of companies are doing business in the cloud.Why do companies want to go digital? ›
Connecting your digital systems will give you valuable insights into opportunities for your business. E-commerce and digital accounting software can help you track sales and marketing performance, and improve communication between staff, suppliers and customers, through shared and simplified digital systems.Why do we need a digital workplace? ›
A Digital Workplace goes beyond the limits of a physical office. It provides for knowledge sharing and collaboration in many new and effective ways. It is a connected environment providing access to everything employees need with the help of digital technology.What is the 7 step sales process? ›
The selling process is the interaction between a salesperson and their potential buyer. There are seven common steps to the selling process: prospecting, preparation, approach, presentation, handling objections, closing and follow-up.
How do you succeed in digital sales? ›
- Be active in social media groups. Social media is one of the most prominent, effective digital sales channels at any salesperson's disposal. ...
- Empower evangelists. ...
- Conduct webinars or other web-based events. ...
- Supplement your sales efforts with original content and case studies.
The 5 stages of strategic digital marketing planning are: Plan > Reach > Act > Convert and Engage.What are the 3 types of digital platforms? ›
Social media sites like Twitter, Facebook, LinkedIn, and Instagram. Knowledge-based platforms like Quora, StackOverflow, and Reddit. Service-based platforms like GrubHub, Uber, and Airbnb.How do I set up a digital sales team? ›
- Step 1: Understand the Digital-First buyer mindset. ...
- Step 2: Develop a 360-degree view of the buyer. ...
- Step 3: Establish cross-functional alignment on Ideal Customer Profile (ICP) ...
- Step 4: Orchestrate a cohesive lead-to-revenue process. ...
- Step 5: Develop buying interactions that build confidence.
“A digital marketing sales funnel is a combination of marketing tactics utilized to generate traffic to your business and nurture them properly to become loyal customers who advocate for your business.” A digital marketing funnel resembles that of an actual funnel.How does digital space work? ›
Digital space is simply an online space used for work. It also refers to anything displayed on the screen of your computer, phone, or any other digital device. Even your websites, movies, photos, etc., make up the digital space.What is the future of digital sales? ›
According to the Gartner Future of Sales 2025 report, 80 percent of B2B sales interactions between suppliers and customers would take place through digital channels by 2025. By the end of 2021, CSOs predicts that 58 percent of the sales force will be working digitally (up from 24 percent pre-pandemic).What's the difference between digital and retail? ›
Significance. The difference between retail and digital revenue is important to the businesses that earn money from both sources. Retail revenue indicates the need to produce and ship a physical product, whereas digital revenue comes from content that is easy and inexpensive to reproduce.What are digital examples? ›
Digital technologies are electronic tools, systems, devices and resources that generate, store or process data. Well known examples include social media, online games, multimedia and mobile phones.What is an example of a digital strategy? ›
These include artificial intelligence (AI), machine learning (ML), robotics, data analytics, and the Internet of Things (IoT). As these technologies dramatically reshape industries, many companies are pursuing large-scale change efforts to capture the benefits of these trends or simply to keep up with competitors.
What is digital business process? ›
It is the process through which a company uses digital tools, technology and ecosystems to provide greater value for customers and clients usually through new customer experiences, solutions and business models.What are the stages of digital? ›
Three stages of digital transformation. The three phases present different opportunities for organizational learning. The first two stages, modernization and enterprise-wide transformation, are focused on reshaping the existing business. The last phase is about new business creation and uncovering new sources of value.What are the stages of the digital design process? ›
Our digital product design process is broken down into four main phases: Discovery, Strategy, Execution, and Growth. The steps within each phase along with Purpose-Driven Design, our design philosophy and framework we use to solve problems, lead us through every project.