Sales Industry Trends and Challenges

In 2024, Salespeople find themselves in a rapidly evolving sales landscape driven by new technologies, changing customer behaviours and emerging market trends that require innovative sales strategies. Businesses need to learn to leverage these trends and prepare themselves to adapt to changing market conditions. All businesses regardless of their size should be aware of the latest trends and adapt accordingly.

AI and Automation

Sales people are using AI to automate manual tasks, gain insights and write outreach messages. AI powered tools can help businesses automate redundant tasks up to 40%, like data entry and lead qualification which frees up the sales team to help focus on more strategic tasks.

Customer Experience

Not only do salespeople need to develop strong rapport and trust but they need to ensure there is follow up happening after a sale. As well as ongoing support, tracking and measuring success of their customer base overtime. The more personalized the experience the better.

Value Based Selling

Today's customer is more discerning than ever, to stay competitive salespeople need to build stronger relationships by understanding the customer's needs and preferences. Doing research and understanding how to articulate their unique selling value.

Social Selling

Businesses should focus in on building their presence on social media platforms and use customer data to tailor their messaging to meet the needs of their target market. Having consistency in messaging and managing social media presence can help build stronger relationships with customers by 31%.

Data Driven Selling

This involves using customer data and insights to create sales strategies. This can include using AI tools and creating targeted marketing campaigns based on customer behaviour.

Sales Enablement

This is the process of supporting the sales team with the right tools, resources and information so that they can sell more efficiently and effectively. This can include providing more sales training, creating playbooks and investing in technology.

Regardless of the size or type of business sales teams need more support than ever. Ensuring that the company is up to date on these new strategies will help facilitate greater sales success. On going training and coaching of sales teams is needed to ensure sales skills are meeting the needs of the market.

For more information on training and development contact CPSA.

* Korn Ferry the New Sales landscape 2024, Kyla Sales trends January 17, 2024.

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