Gartner Hypes Blockchain as a Sales Tool

A handful of technologies are on the brink of making a splash in CRM sales technology but are still five to 10 years away from any significant adoption, according to Gartner, which recently released its “Hype Cycle for CRM Sales Technology” report.

Notably, blockchain has reached what Gartner calls the “innovation trigger,” marking its official introduction to the sales field.

Gartner sees blockchain as a beneficial technology due to its ability to lower costs for data intelligence solutions and master data management solutions, yet it will take time for organizations to start relying on blockchain for lead generation, according to Adnan Zijadic, Gartner senior principal analyst.

“This is the first time blockchain is entering into the sales world, and it has the potential to have a transformational impact on how sales organizations typically source leads and contact information,” Zijadic says. “Rather than source from unreliable third-party databases, users can instead partake in a network-sharing system supported by blockchain infrastructure to source leads and contacts that fit their organization, while selling leads that do not match their ideal customer profiles to other companies that may be in the market for such a lead or customer.”

Though it will be a few years before many companies adopt blockchain for sales, Zijadic urges sales leaders to learn more about blockchain’s potential use cases while preparing for an increase in the vendor landscape.

Beyond blockchain, “everybody is turning to sales optimization processes to reduce handling of manual data organization,” according to Zijadic. However, despite organizations investing in the technology, many sales professionals don’t use the solutions because some of them involve too much tedium and manual input. Automating those tasks could lead to better sales insights, he…

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