After the pandemic and amidst a global economic crisis, the sales world is shaping itself with its unique challenges and changes, and sales trends will be significantly influenced by these transformations. To assist you in successfully achieving your sales goals, we have compiled future trends to prepare your sales team in areas that are already shaping up.
Without further ado, here are some of the prominent sales trends to watch for in the upcoming period.
Sales Trends to Watch
1. It should sell the problem, not just the solution in demos.
2. The sales process will require more touchpoints.
3. The freemium model will emerge as a natural sales developer.
4. Existing customers will take priority over new customers.
5. The hierarchical structure of sales will flatten.
6. Personalization will be critically important for success.
7. Specialization in vertical markets will be necessary.
8. Sales culture will become the top priority.
9. Calling through your CRM will be very beneficial.
1. It’s Essential to Sell the Problem, Not Just the Solution in Demos
Imagine selling a book. I’m sure you all agree that you would be more successful by selling the story inside and how it can improve the reader’s life, rather than focusing solely on its physical features. Customers are less interested in seeing how your product works and more concerned that you understand their needs, and that you have a comprehensive understanding of their requirements. In other words, expertise in product development will only take you so far. Instead, if you focus on the genuine needs and problems of your potential customers and effectively showcase how your product addresses those needs, it will lead you to more successful outcomes.
2. The Sales Process Will Require More Touchpoints
“The long-term effective trend will be about meaningful interaction, communication, relationship building, and problem-solving.”
Rarely do we make a sale in the initial contact with a potential customer. In reality, sales conclude in a process that requires multiple touchpoints. However, here’s the challenge: an average salesperson makes only two attempts to reach a potential customer. Applying a multi-touch approach is crucial for building quality relationships with customers. According to research conducted in 2022, one-third of sales representatives claim to have only 2-4 interactions with potential customers during the sales process. However, it is suggested that having a level of 5-7 interactions leads to better results. On the other hand, 84% of sales professionals communicate with potential customers through 2-4 different channels (e.g., email, social media, text, live chat, etc.).
3. Freemium Model: A Natural Sales Developer
Have you ever tried on a pair of shoes before buying them? We live in a “try before you buy” world…. Therefore, many businesses today are disrupting markets with the “freemium” model.
This model divides users into free or premium tiers. The mechanism here relies on the idea that “free users” will eventually use limited features of a product and upgrade to a paid account. 32% of sales professionals offer free options to potential customers, and about 90% claim that it is extremely effective in converting potential customers into paying ones.
Freemium is a good way to create a natural potential development process since it eliminates the cost of having an account (at least initially). Of course, not every business is suitable for this model. However, if you are a SaaS company or offer tiered memberships, it can be a powerful way to acquire more customers without spending more money.
4. Existing Customers to Take Priority over New Customers
26% of sales professionals say that this year, existing customers are prioritized over finding new ones, and we expect this trend to continue in the future.
Of course, just saying “hello” when existing customers reach out to you is not enough. Instead, you need to create opportunities for them to expand their accounts.
So, how can you do this? Through upselling and cross-selling, of course. Today’s research shows that 42% of companies report that up to 30% of their revenue comes from cross-selling. However, if you maintain customer relationships after the initial sale, it becomes easier to grow accounts.
5. Flattening of the Hierarchical Structure in Sales
Experts predict that in the next five years, we will see a further flattening of the hierarchical nature of sales organizations. The increasing trend of people working from home provides more opportunities for focus, initiating a larger shift towards simplifying processes. While this movement may be short-lived, leveraging technology more will likely mean fewer managerial changes.
6. Personalization is Critically Important for Success
A “one-size-fits-all” approach may sometimes work, but it is losing its validity more each year. Today, the name of the game in sales is personalization.
More than a quarter of sales professionals believe that personalization is the biggest change in the sales field this year. However, you probably don’t have the time to research every possible customer extensively. So, how can you strike a balance? A reliable CRM system should be in place to help you use all this data effectively, painting a clearer and more holistic picture of your customers. This year, 22% of sales leaders aim to unlock the full potential of their CRM systems.
7. Specialization in Vertical Markets
In modern sales, “the riches are in the niches.” In other words, when you try to appeal to everyone, it has the opposite effect: you end up resonating with no one.
Targeting smaller markets might not seem like a robust business advice, but it’s surprisingly beneficial. Focusing your energy on a narrower audience allows you to personalize your pitch. Personalized promises and messages are the building blocks that enable real interaction and trust. Accordingly, experts predict that sales teams will continue to “niche down” in the future, catering to specific markets to leverage the advantages of a smaller but more relevant audience.
8. Making Sales Culture the Top Priority
If there’s one thing that never goes out of style, it’s having a winning sales culture. So, what exactly is a good sales culture? Building a high-performance sales team should never be at the bottom of the priority list. The amount of sales a representative makes, how productive they are, and how long they stay with a company are all influenced by the sales culture. By keeping culture at the forefront, you can acquire highly successful sales representatives, foster healthy competition and collaboration, and achieve highly successful results.
9. Search-Tracking Through Your CRM
On average, a sales representative spends only 28% of their days actively selling. The rest is dedicated to internal meetings, training, and research. So, how can you make the most of the limited time you have for selling?
Increasingly, the solution is a reliable CRM. This is particularly true for a CRM with ‘search-tracking’ features that allow you to reach more customers with less effort. Most modern CRMs enable direct searching through your technology, eliminating wasted data silos, boosting sales productivity, and facilitating the review of recorded calls for training purposes.
In conclusion, the speed of sales is undergoing changes in today’s environment, marked by a variety of new trends and challenges. We hope this list helps you review your sales goals for the coming year.
Until our next post… 👋
