May 15, 2022

Shared Data, AI, and Automation: The Keys to Unleashing GTM Transformation in Life Sciences

Shared Data, AI, and Automation: The Keys to Unleashing GTM Transformation in Life Sciences
Shared Data, AI, and Automation: The Keys to Unleashing GTM Transformation in Life Sciences

As a medical device, pharmaceutical, or biotech sales leader, are you leveraging AI to continuously improve your sales processes and drive predictable revenue growth? If not, your company is at risk.

Simply put, healthcare has gone digital. Data is the lifeblood of the life sciences industry, and AI enables organizations to leverage that data for the benefit of patients, practitioners, and employees alike. That’s why 98% of healthcare leaders have or plan to implement an AI strategy and 99% expect that strategy to result in cost savings.

To remain competitive, life sciences enterprises must embrace data and AI automation in all aspects of their business — including in the sales organization.

Life sciences selling has changed

Digital transformation is the key to enabling your go-to-market (GTM) teams with the processes and data they need to meet the demands of today’s empowered — and increasingly larger — buying groups. Consider the environment in which your GTM teams are operating:

  • Online interactions grew from 42% of customer engagements in 2019 to 60% in 2020 (Salesforce). And according to Gartner’s Future of Sales research, 80% of the B2B buyer journey will occur online by 2025.
  • Today, over 97% of hospitals use group purchasing organizations (GPOs) to improve purchasing efficiency.
  • From 2019 to 2021, the percentage of purchasing decisions involving four or more people grew 30%, from 47% to 61% (Forrester).
  • Our research indicates that the bigger the deal, the more people are on the buying committee. In fact, buying group sizes increase by more than 27% for deals above $100,000.

You need the data locked in sales reps’ brains

For B2B companies selling to complex buying groups over a lengthy sales cycle, personalization is key to ensuring the right stories, messages, and suggested next steps are conveyed at the right time to the right people. Getting this correct requires a well-orchestrated GTM organization fueled by the collective knowledge that resides in sales reps’ heads.

However, to date, GTM teams have struggled to access that knowledge because most reps focus on selling instead of keeping CRM up to date. Put simply, the data in most CRMs is unreliable and inaccurate because sales must populate these systems manually.

This is hampering the efforts of your broader GTM teams and costing your company big. MIT’s Sloan Management Review says bad data costs most companies an astonishing 15 to 25% of revenue as employees spend time correcting errors, seeking confirmation in other sources, and dealing with the inevitable mistakes that follow.

AI and automation are the answer

Your company calls upon the most advanced technologies, processes, and methodologies to power its products and production line. Why not empower your sales, marketing, and operations teams in the same way?

With, you can solve the GTM growth challenge caused by unreliable, inaccurate data in your CRM system. In other words, you can achieve predictable pipeline and revenue performance — without forcing your GTM teams to learn a new tool.

Our revenue intelligence platform makes it possible to activate a unified, data-first approach and support your GTM teams with AI-powered insights in today’s digital-first selling environment. In turn, they are positioned to:

  • Design a sales process for repeatable, scalable success
  • Onboard new team members with actionable intelligence on accounts
  • Anticipate and strategically respond to buyer behaviors
  • Enable a frictionless, personalized buying experience that converts
  • Flag and de-risk deals in the renewal pipeline based on best practices and top organizational initiatives

Download our eBook for further insight into how to:  

  • Automate data capture to eliminate the drudgery of manual CRM data entry
  • Activate a data-first GTM approach with five prescriptive steps
  • Deliver AI-powered insights and guidance in existing GTM tools and workflows

Or, see in action by scheduling a free demo today.

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