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4 Data Driven Reasons to Invest in Sales Pipeline Automation

Posted on February 25, 2016 by Mark Sonders

Sonders' Selling Tips

The best producers understand the value of frequent, genuine high-touch interactions to drive business.

To close a deal, you need to understand your prospect's needs, motivations, and pain points well. But building these relationships can be time-consuming and high risk if the prospects don't convert.

The good news is that sales automation technology can help extend your reach for you. It allows you to be many things to many people simultaneously. You can tailor your interactions to each person's unique place in the buying process, industry, and demographic in a lot less time. This process frees you up to close more deals, faster.

According to the July 2015 Forrester Research report, Quantify The Business Value Of CRM, surveyed companies reported experiencing the following improvement ranges when implementing a CRM with salesforce automation.

Here are four proven reasons to invest in sales automation tools:

1.  Increase close rate 8% to 10%

2. Reduce cost to sell 10% to 15%

3.  Increase revenues from sales employees 3% to 5%

4.  Increase customer retention 5% to 10%

Increase close rate

With sales automation software you can track your prospects through the pipeline. Then, you can quickly customize your interactions based on their behavior or segment.

For example, you may place enterprise-level companies into a longer sales cycle than small businesses. Perhaps you have created content that's relevant for families but wouldn't make sense to share with single people.

Provide personalized resources to your prospects over time and watch your close rate soar.

Reduce cost to sell

Sales automation tools can reduce the amount of time spent on each prospect, allowing you to do more of what you do best.

Instead of spending endless hours on the phone reaching out to every single prospect, you can focus on cultivating strong relationships with your most valuable clients. Then, you could send tailored email messages to the rest of your pool.

That way, you can provide the best possible service to the clients that matter most, continue to nurture your other prospect lists.

By saving time and resources, you can reduce the cost to sell and allow your sales team to be more efficient. 

Sales Pipeline Automation

Increase revenues from sales employees

Up sell opportunities abound when you automate your sales pipeline.

You'll know at a glance which customers are at each stage in the buying process, what products interest them, and how they've behaved in the past.

Then, use this information to promote appropriate upgrades, provide renewal deals, and boost revenues. 

Increase customer retention

The power of sales pipeline automation doesn't end once you've earned a sale. Strong follow-up messaging could be the difference between keeping or losing a customer. Stay relevant by providing useful and engaging content to your list so that by the time the renewal date comes around, they don't hesitate to sign with you again.

This content could include: surveys, contests, referral opportunities, fresh content, loyalty bonuses, event invitations and more.

With these tools, you can promote relationship building long after the initial contract closed.

Increase customer retention by showing that you care about your customers just as much as your prospects. 

Why it matters

Sales automation technology won't diminish the need for high-touch human interaction; but it will augment your ability to reach the right customers at the right time to help you take your book of business to the next level. 

For those interested in learning more about how they can improve growth at their agency, check out our on-demand version of our recent webcast on improving sales in the insurance indusrty. You can also learn more about sales pipeline automation and how you might be able to improve your agency's process.

Watch Now

Mark Sonders

Mr. Sonders is the Senior Vice President of Sales and Marketing at Vertafore. With over 25 years of sales, marketing, and financial experience at companies like Thomson Reuters and Kaplan Financial, Mark’s career has focused on delivering long-term success for his clients in order to help them get the maximum value out of his organizations products and services.


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