New research has revealed sales professionals’ inability to manage Big Data is resulting in missed sales opportunities and a struggle to close deals.
CSO Insights surveyed more than 200 corporate and sales executives and found 89% claimed they can't keep up with information about customers and prospects as they search nearly 15 data sources – such as internal CRM systems, social media and search engines – before making a call.
Additionally, the research showed that whilst 80% of those surveyed have implemented a CRM system, only 44% claimed it helps them find internal information and nearly 80% find CRM ineffective at helping them find external company information.
According to the findings, a staggering 90% of respondents said the introduction of one technology system delivering data access and insights would produce significant benefits to sales, including prospecting effectiveness; the amount of time representatives spend selling; and lead to first meeting conversions.
Jim Dickie, managing partner at CSO Insights, said: “Big data needs to be a big deal for sales. The amount of prospect information out there today is a blessing and a curse for sales reps. Our research shows that there is a need for new tools to help reps find the needle in the haystack. Leading-edge sales teams are already taking advantage with solid returns.”