Sales Trends That May Lose Momentum This Year

Sales trends are transient, with some enduring for an extended period, while others swiftly fade away.

Sales Trends That May Lose Momentum This Year

Salespeople serve as the key facilitators of information sharing.

Sales professionals acknowledge that the sales landscape has undergone a significant transformation. The shift is attributed to the fact that selling now revolves around presenting tailored solutions rather than simply promoting products or services.

What has prompted this change? It’s the buyers themselves. In their quest to gather information, prospective customers prefer to conduct independent research before engaging with sales representatives. Consequently, salespeople affirm that buyers are now better informed than ever before when they initiate conversations.

In light of this, the role of a salesperson has evolved. Rather than being mere conveyors of information, sales representatives are now expected to adopt a consultative approach and build relationships based on providing solutions. They engage in personalized discussions, addressing the specific needs of prospects and articulating why their product or service is the optimal solution.

While this transformation may seem daunting, it presents an opportunity for more meaningful interactions with buyers and the cultivation of enduring relationships. According to 82% of salespeople, the ability to build lasting relationships is the most crucial aspect of selling. Additionally, 78% of consumers consider a salesperson’s expertise to be highly influential in their purchase decisions.

LinkedIn is a key player in the prospect research process.

LinkedIn has been surpassed as the most effective platform for prospect research. Facebook has ascended in rank, with salespeople attesting to its effectiveness in researching prospects and their businesses. Last year, LinkedIn held this distinction.

This shift is intriguing, considering Facebook’s status as the world’s most popular social media channel. It is logical for sellers to investigate customers on platforms they are more likely to be present on.

While it is crucial to learn from trends and the practices of others, it is not necessary to abandon ship. Both platforms offer advantages, so when making a decision, consider your goals, your audience’s needs and preferences, and where you are most likely to locate them.

You have likely come across the notion of adopting an omnichannel approach before. Dan Tyre, former Executive at HubSpot, emphasized the importance of optimizing multiple platforms such as Twitter, Instagram, Facebook, and LinkedIn to facilitate easy discovery and reinforce your brand.

Emphasizing the importance of virtual selling.

The pandemic has propelled virtual selling to unprecedented heights, leading to the emergence of new sales tools that facilitated selling in the “new normal” when work-from-home salespeople relied heavily on virtual channels to reach prospects.

However, as we move into 2024, it is anticipated that businesses will not prioritize virtual selling strategies to the same extent as before due to the easing of restrictions. Here are some key insights:

• Only 16% of salespeople have identified improving the virtual sales experience as one of their goals this year.
• The second most significant change in the sales field compared to last year is the increased importance of in-person (outside) sales.
• Perhaps the most notable indicator is the decline in the percentage of salespeople who consider video calls as an effective selling method, dropping from 41.5% in 2022 to 26%.
• 65% of consumers still prefer interacting with salespeople in person.

There is a clear correlation between the diminishing significance of virtual sales and the evolving role of salespeople mentioned earlier. A consultative approach relies on establishing trust and building relationships with prospects, and meeting face-to-face remains the most effective way to develop that rapport.

However, it is important to note that virtual selling will not fade away completely. For those who have found success with this channel, there is no need to worry. Hybrid sales professionals, who combine both in-person and virtual selling, are 28% more likely to outperform their peers who solely rely on in-person or fully remote approaches.

Regarding social selling, it would be imprudent to dismiss it as a mere fad.

Incorporating social media into the sales process was not a top priority for salespeople in 2022. This could be attributed to the fact that for certain businesses, selling directly on social media may not be the most practical approach. Just imagine if you could purchase Marketing Hub on Instagram Shops!

However, social selling encompasses more than simply selling products on social media. It involves researching prospects, sharing valuable content, and engaging with audiences and potential customers across various platforms.

Interestingly, social media has emerged as one of the top four most effective channels for selling this year. High-performing salespeople are 12% more likely to utilize social media as a sales tool. Furthermore, consumers are increasingly spending significant amounts of time discovering, researching, and making purchases on social media. It only makes sense to join them where they already are.

Sales and marketing teams operating independently without effective collaboration.

According to the survey, a significant 60% of respondents have reported improved alignment within their teams compared to last year, underscoring the increasing importance of sales and marketing alignment. Looking ahead to 2024, it is anticipated that the barriers between sales and marketing teams will continue to diminish. The advantages of alignment are undeniable:

• Aligned sales and marketing teams result in higher-quality leads for salespeople.
• Alignment contributes to increased deal closures, higher win rates, and greater revenue generation.
• The alignment of these teams ranks second in terms of its impact on company growth.

Collectively, businesses with aligned sales and marketing teams have a 107% higher likelihood of achieving their goals.

Asserting that cold calling has become ineffective.

The widely recognized saying goes, “Cold calling is no longer effective.” While opinions on this practice may vary, it is observed that in 2024, cold calling is becoming less popular. Undeniably, the approach can receive negative feedback when consumers are bombarded with irrelevant offers. However, the effectiveness of cold calling can be enhanced if it is preceded by prospecting and lead scoring. Salespeople, who are at the forefront of this strategy, confirm its significance. According to our survey, 63% of salespeople engage in cold outreach, with phone calls being the most preferred and successful method.

Returning the focus to you.

Sales trends and best practices evolve when strategies no longer effectively serve salespeople due to market/industry changes, technological advancements, or evolving consumer preferences. The positive aspect is that the fundamental principles of sales remain unchanged. Therefore, even if some of your practices need adjustment, adaptation is required rather than starting from scratch.

Discover more about the Sales trends of 2024 in our previous article Sales Trends Of 2024 & How To Leverage Them