Almost every company is constantly trying to figure out how to increase revenue. As if that is not challenging enough in these economic times, it is even harder to accomplish that goal in an efficient or cost effective manner. In some instances the cost of sale is equal to the revenue generated by the sale.

Companies that distribute their products through solution based selling typically have a much different challenge than those companies that sell products/services in one, or perhaps two sales calls. Usually with solution based selling there are many more people, or teams involved, much longer sales cycles, and a lot of information is exchanged throughout the process. In addition, the relationship with the customer does not end after the sell is made. Having an effective way to communicate and foster that relationship can prove vital to the long term success of the company.

There are many different technologies that attempt to make companies more efficient at creating and maintaining relationships with customers and prospects. However, most of these technologies fail in an attempt to reduce the overall costs for acquiring a customer, and for maintaining a quality relationship.

Many companies are starting to rely on social media platforms to address this very concern. Tools such as Twitter, Facebook, blogs, and even LinkedIn can be great for communicating with clients and prospects. In 2010 the idea of creating groups, followers and friends has truly become commonplace; but only time will tell how helpful those tools are in long, complex, high dollar sales cycles.

I have spent the past 15 years in different Sales and Marketing roles, and I learned from my experience successfully selling to companies such as Wal-Mart, Shell Oil, ExxonMobil, Texas Instruments, Johnson & Johnson and others that many clients and prospects are looking for something a little more intimate than Facebook, or customer portal sites. I also found that these companies value the opinion of their peers, and they look to interact with each other frequently. When I was an outside sales rep I needed a more cost effective way to interact with customers and prospects, and to have customers and prospects interact with each other on the continuous basis, and in front of me.

Getting clients and prospects together at annual user conferences and other marketing events is nice, but it does not provide an easy way for constant interaction. An environment is needed so that clients can interact with the sales rep and other clients throughout the day/week/year without attending an event. This kind of ongoing interaction can provide valuable insight to the vendor. It is also beneficial to the customers that are interacting with each other, and it can enhance customer loyalty.

I think we all realize those facts. The question is what tool do we use to accomplish our objective?

The introduction of Web 2.0/Sales 2.0 technologies presents an opportunity for organizations to reach their desired goal of driving revenue more efficiently. Business Collaboration Software allows any user the ability to create a secure, collaborative workspace so that they can create their own client community. Within that collaborative space/community users can exchange ideas and best practices through discussion forums, and share documents by using the file library. There is no software to download or install and users only need a web browser to access the system.

Despite all the technologies that exist (i.e. the traditional CRM, SharePoint, Social Media Platforms, and email) companies are increasingly using business collaboration software to supplement their existing sales and marketing efforts. It is an easy and inexpensive way to leverage the experience of happy clients and add direct value to the sales rep, thus helping them drive revenue efficiently.

I realize that there is an art to creating engaging dialogue online. It is essential that companies use tools where the sales rep has the ability to define who is invited to the collaborative workspace or client community. It allows the person with the most knowledge of the relationships to decide who speaks to whom. Aligning the "right" group of clients and prospects makes all the difference in your success.