What used to be just a single day of frenzied shopping in the USA has evolved into a whole week of retail mayhem here in South Africa. While that gives us a bit of breathing room, it also spikes up the pressure on supply chains. The challenge? Taming unpredictable demand spikes and expanding operations at the snap of a finger. Fear not, for the secret sauce lies in total visibility and turbocharged efficiency, all thanks to our integrated software solution.
You may be asking yourself, “What the ruck can my business learn from a rugby coach?”
The parallels are more than you would think and the lessons to be learnt more than you can count. From managing teams to tackling traditions, there are many lessons from the field that the boardrooms of South Africa could benefit from applying. So, put down the spreadsheets and pull up a chair.
Mental health challenges have reached a new global high. 42% of adults worldwide say they feel a lot of worry. 41% report high stress, and 28% experience unhappiness.
Burnout is also on the rise, with 49% of people suffering from these symptoms at work. Hybrid working is adding to people’s stress by increasing a sense of isolation. Fear and uncertainty of the modern world making us ever more anxious.
The International Monetary Fund (IMF) recently forecast that growth of the global economy will slow to 3.2% this year. This is down from 6.1% in 2021, and to an even lower 2.9% in 2023.
Mentorship could be the game-changer South African entrepreneurs need, especially as 70% of mentored businesses experience a five-year increase in survival rate. Sam Clarke, CEO of Skynamo, says entrepreneurs are needed now more than ever since they see opportunities, capitalise on these, and, in doing so, create the businesses of the future. But they urgently need support if they are to succeed.
In an ever-increasingly digital world, personalised customer relationships are crucial for business success and quality data bridges the gap. However, according to a recent study on the State of Customer Relationship Management (CRM) Data Health, 44% of respondents estimate that their company loses over 10% in annual revenue due to poor quality CRM data which results in the loss of customers.
As a result of Covid-19, employers need to re-look office culture, teamwork, and talent strategies to acknowledge both a shifting business landscape and changing employee expectations.
2022 was set to be a year of growth and recovery for small businesses. However, the war in Ukraine is beginning to thwart this projection. The World Trade Organisation has recently slashed its global growth forecast to 2,8% from 4,1% before the war. This, coupled with supply chain disruptions and rising fuel and food prices, will create a further negative impact.
The latest South African Chamber of Commerce and Industry (SACCI) Business Confidence Index rose to a three-month high of 94.1 up from 92 in the previous month. This is attributed to the recovery of external trade and retail sales following the easing of Covid-19 restrictions and the end of the travel ban imposed by several countries. So what is the missing puzzle piece for SA business success.
However, to continue this upward trajectory, businesses, especially small businesses that are the lifeblood of South Africa’s economy, need to find further ways to improve their sales in 2022 and beyond.
Zane van Rooyen is the Product Marketing Manager at field sales management CRM and mobile ordering app Skynamo. He says that one of the most valuable assets businesses can use is data analytics. But many are not tapping into this gold mine. This is reflected in a survey by McKinsey which revealed that 57% of businesses worldwide are not using data analytics effectively to drive sales.
“Accurate data and analysis are crucial for attracting potential customers, closing prospective deals, and empowering teams to make more informed decisions. Information such as shopping preferences, age, gender, occupation, and even marital status gives them the ability to smartly segment their customer base,” says van Rooyen. “Crunching the data will ensure that sales teams segment their customer base in a way that specifically targets diverse groups at varying times on different platforms. A strategy that is bound to bring big benefits.”
Van Rooyen points out that another key component in creating sales success is to formulate value propositions. “When properly executed, value propositions have proved to give companies the edge over their competitors. However, only a few companies do this well.”
“In its most basic form, the value proposition is the “why” someone should do business with you,” he adds. “It’s important to note that it should extend well beyond an added incentive, a catchphrase, or a positioning statement.”
Instead, it is a business’ ace, says van Rooyen. “It’s the value it offers that exceeds competitors and positions the company as the solution to its customer’s needs. “It requires a headline, a subhead, the very reason why someone should do business with you. It is your heartbeat, defining who you are as an organisation.”
He says that when a business combines data analysis with its value proposition, it instantly results in a powerful sales tool. “Consider the scenario: Your sales team has carefully analysed the data, formulated a customer profile, and learned the core value proposition of the company. They are now confident enough to engage or target a customer. Knowing the product or service on offer speaks directly to the specific needs of the prospect completely. Their confidence and knowledge of the customer and the product or service are a winning combination,” he explains.
Creating sales success through data-driven leads is based on a lot of factors, but integrity ranks very high. “It takes a sales team treating every lead with the respect they deserve. This means analysing all the data for each lead, formulating a persona, and doing due diligence. It takes a realisation that each potential lead forms an integral part of the development of the buyer persona you are creating,” says van Rooyen.
“Sales teams that conduct a granular analysis of their closed/won and closed/lost opportunities provide valuable insight into what went wrong with a deal and why,” he points out. “It opens the door to discussions on the sales cycle, the process followed, the discussions held with the prospect. Then the most crucial aspect: why the deal tanked. Teams need to be developed to analyse their successes, as well as failures. It is an important skill to instil in the overall pursuit of your sales success story.”
“Sales success is created by cleverly merging data analysis, lead generation and improved customer experiences,” says van Rooyen. “Businesses that can master this, report higher lead conversions and sustained success.”
Today technology solutions allow sales teams to spend more time in the field. They’re still able to balance the administrative requirements involved in carefully assessing and analysing data, he adds. “Thanks to the fourth industrial revolution, we have apps and programmes that allow businesses to tap into one of their most valuable resources, data. Now is the time for companies to embrace this or be left behind,” van Rooyen concludes.
Zane van Rooyen is the Product Marketing Manager at Skynamo.
About Skynamo
Established in Stellenbosch, South Africa in 2012, Skynamo is the leading field sales technology provider. It has close to 10,000 users at nearly 1,000 companies across a wide range of industries in Southern Africa, Australasia, the UK, Europe and the US. Skynamo’s field sales mobile app and cloud-based management platform are used by manufacturers, wholesalers and distributors with sales teams in the field, selling products to an existing base of customers. Skynamo integrates with a wide range of ERP and accounting software to improve order accuracy and fulfilment. It was named Sage ISV Partner of the Year for 2019 (Africa & the Middle East) and an Acumatica Certified Application and Customer Verified Application. Skynamo received $30million in funding from US-based software investment firm Five Elms Capital in 2020. The app forms part of the Stellenbosch-based Alphawave group of software and electronics companies. The group has more than 100 employees in South Africa, the UK and the US.
For Media Enquiries
Issued on behalf of Skynamo by Zenahrea Damon from Hook, Line & Sinker Communications
Tel: +27 79 428 0389 / Email hello@hooklinesinker.co.za
A related article also appeared in:
IT Online on Apr 6, 2022
The Citizen on Mar 24, 2022
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