The truth is that the digitalized world provides tons of benefits to each one of us. One thing is clear whether we like it or not – trends are changing. There is immense competition in the market at the moment; being left behind means you have lost the race. There are some industries that are more affected than others, but in one way or another, the change is affecting everyone.
Our article throws light on how changing sales trends will be affecting the way we work in 2020. Let’s have a look!
1. AI and Sales
Is e-commerce going to replace salespeople? This is one question that is on the minds of hundreds of businessmen and marketers who are struggling to keep their sales up regardless of the changing trends around them. Artificial Intelligence is one technology that is bound to restructure the working environment in the years to come.
According to research conducted by salesforces, around 77% of the sales industry leaders claim that they have started to digitalize several aspects of their business since 2019. One of the most popular technologies responsible for the digital revolution is the use of Artificial Intelligence. Moreover, 37% of the teams that were included in the report use AI technology to improve their business operations. It is also worth mentioning that some of high performing companies are part of this 37%, proving the worth of this amazing technology.
The rapid gain in popularity of AI technology is AI tools that are widely available and easy to configure. AI tools add value to the entire sales process and help to bridge the gap between the sales team and the customer. Through AI, the sales team is able to understand the customer needs and make well-informed decisions that might not be possible through traditional methods of conducting sales.
2. Adaptability is Key to Success
With so much uncertainty around us, it is quite difficult to manage and achieve sales targets. However, many salespeople remain optimistic in the face of uncertainty and believe they can achieve targets. One thing that is extremely important in the changing business environment is to develop a sales structure that is flexible and adapt to the changes.
The leaders in the sales industry are constantly emphasizing the importance of customer care as it will play a significant role in setting companies apart from the successful and the struggling ones. The rising popularity of quality care is just one of the changing sales trends and is a must for businesses to keep up with them if they wish to work in the current market.
To improve customer care, one must train the sales team to self-evaluate their performance and ask themselves certain questions on a periodic basis. Questions like: How to make the sales process smoother? What can be done to make the quoting process simpler? can be added to the companies self-evaluation criteria.
3. Social Selling Taking Over
The past few years have seen a considerable rise in using social media as a platform to conduct sales. Sales teams all around the world are using social media more and more to attract prospective buyers. The new sales model stresses engaging with the customers, educating them about the products, and then converting them into customers. According to research conducted by IDC, around 91% of the buyers are now active on their favorite social media platforms. Moreover, another 74% of B2B buyers heavily rely on social media to make their buying decisions.
Sales for Life conducted research disclosing that every dollar spent on social media sales leads to 5 times the ROI! Unfortunately, very few sales representatives fully understand how to use social tools to attract buyers and boost sales. There are several aspects that need to be considered when using social media for sales. One of the most important one being – learn which platform is working best for your business.
If you are selling a product that is more appealing to teenagers, then it would be better to campaign through Instagram and Facebook. However, for more domesticated businesses like cleaning services, it would be wise to use Facebook or YouTube marketing. If you want to keep up with trends, you need to be aware of what the market leaders are doing. Analyze their social channels and see what all they have incorporated, what content they are using to attract buyers, the schemes they are using, what campaigns they are running, etc.
4. High Dependence on Customer Insights
It has become increasingly important for businesses of all sizes to make decisions that are based on customer insights. As a business owner, genuinely try to understand what your customers really want. By improving your ability to understand customers, you will be able to develop targeted marketing campaigns that are more effective than normal marketing campaigns.
These types of campaigns are more successful in creating brand awareness, boosting engagement, and improving customer perception of your brand. If you are streamlining your marketing operations, look for tools that are accurate are provide valuable marketing insights that can help you make well-informed decisions. On the flip side, customer insights are powerful, and if used incorrectly, can lead to irreversible errors.
Key Takeaways
We have tried to cover the most popular trends in the sales market today. There may be more as well, but one thing is clear, marketing and sales have become more customer-led. The importance of quality customer care is increasing day by day. The rest of the trends are simply paving the path to improve customer care and make it more efficient. If businesses solely understand this factor, then they will be able to increase their sales and make their businesses more profitable. It all comes down to finding the right tools that can help businesses adapt easily to the changing trends. The internet is packed with all kinds of digital tools, which may not even cost you a lot, but you have to find the one that works best for your business – it is a smooth road after that.