Last week I was talking with Jess, our Director of Operations, about the inordinate impact that technology has had on the sales and marketing function. I told her about my first “CRM.” As a new hire with Alamo Rent-A-Car, I was assigned 624 travel agencies in my territory. A couple days after I started, I got a thick envelope with 104 pages of cards (there were 6 cards per page) printed on a dot matrix printer. I separated my cards, placed them into a file box and went to work.
Sales and marketing technology (or, the growth stack) has moved from being a complement to the work that needs to be done, to being at the core of virtually everything that happens.
The Role of Technology in Sales & Marketing
Consider the following:
- The average company is spending almost $5,000/sales rep/year on sales technology. (source: Gartner CEB)
- The Marketing Technology Ecosystem had just 120 names when it started in 2011. Today, there are more than 5,000 technology alternatives (and growing). (source: ChiefMarTec)
- Investment in sales technology over the last two years tops $10 billion. (source: VentureBeat)
What’s clear is the mushrooming growth and impact of technology in demand generation and sales. Equally clear is that despite all of these investments, users are not seeing the returns they expected.