Why Sales Teams Should Care about the Fake Web
The issue of the Fake Web has been all over the news lately. Perhaps most notably, Elon Musk delayed his deal with Twitter until they agreed to further transparency around bots and fake users. Additionally, a viral tweet about the increase of fake internet traffic also attracted the attention of Salesforce CEO Marc Benioff.
All of this is probably not a surprise to anyone on the pulse of technology news. But it is reasonable to wonder: What does this have to do with sales?
For starters, reports show that $115 billion is lost each year in sales labor costs due to bots and fake users.
To help connect the dots here, we’ve outlined a few specific ways these bad actors impact sales teams on every level and ultimately hurt businesses bottom line.
Sales teams end up wasting time on bad leads.
Time is critical in the sales cycle. Leads need to be acted on quickly before they lose interest or forget they requested to be contacted completely. For this reason, sales professionals put a lot of time and effort into crafting the perfect email sequences, following up with leads, and nurturing these leads until they are ready to buy.
But sometimes leads that were once considered “hot” go silent. This can be because they genuinely lost interest, their priorities changed, they realized they didn’t have budget for a specific line item, or they went with a competitor. Other times leads go cold because they were never really leads to begin with – they were bots and fake users.
When this is the case, it is not only frustrating and disappointing, but it also takes time away from real genuine leads who could have used more attention. Since time is money, this is also reducing the potential revenue a business could be bringing in.
Inventory numbers become inaccurate.
For companies that sell items of limited quantities (retail brands, ticketing services, tourism and travel companies, concerts and sporting events, etc.), it is important to keep track of how much inventory is available. They want to ensure that customers are able to purchase available items while not misleading anyone into thinking something is available if it is sold out in actuality.
Obviously, a bot can’t go to a concert or put on a pair of exclusive sneakers, but they skew inventory numbers through a variety of malicious practices.
This can take the form of scraping information and reselling at a lower price on other sites, which causes businesses to overstock and undersell. It can also come in the form of bad actors committing credit card fraud by using fake or expired cards, which causes the business to lose both the product and the revenue. Additionally, bots can be programmed to instantly buy thousands upon thousands of items before real users ever have the chance to purchase.
All of this throws off the sales cycle by making it impossible to determine how much genuine interest for certain goods and services there is in the market.
Trust is lost between sales and marketing.
Many sales cycles start with marketing. A future customer might first hear about a brand through social media. Or maybe they discovered a company in a search query. Perhaps they saw a few paid advertisements and decided to dive deeper. Marketing is a critical component of driving pipeline and ultimately revenue.
Sales teams know that when leads show up in their database, it didn’t come out of thin air – it was likely a result of marketing. But when there is a pattern of marketing leads having fake names or emails, or appearing promising but randomly going silent – sales teams start to question the legitimacy of all marketing leads.
If there are bots and fake users entering the funnel and being passed off to sales, it decreases the overall quality of marketing leads, and consequently decreases trust.
For all of these reasons and more, many teams are adopting Go-to-Market Security to ensure all the hard work sales and marketing teams put in each day isn’t hindered by the Fake Web.