Sales Trends to Watch in 2023.Expert Opinions
The world of sales is gearing up for significant transformations. Just like every year, this new chapter brings unique challenges and shifts in the sales landscape. To help you stay ahead of the curve, we’ve consulted with industry experts to provide you with a comprehensive overview of the most influential sales trends you should keep an eye on this year.
9 Recommendations from Specialists That Can Help You Today.
1. Demos That Solve Problems
When it comes to sales demos, it’s no longer just about showcasing your product’s features and functionalities. Instead, focus on selling the solution to your prospects’ problems. Dan Tyre, an Inbound Fellow at HubSpot, emphasizes the importance of understanding your prospects’ needs and tailoring your demo to address their specific requirements. The key is to uncover what truly matters to your prospects and demonstrate how your product can make a meaningful impact.
2. Multi-Touch Sales Process
In 2023, successful sales will require more touchpoints with your prospects. The days of sealing the deal on the first interaction are rare. 2022 Sales Strategy & Trends Report reveals that most sales reps have 2-4 interactions with prospects during the sales process. To build quality relationships, embrace a multi-touch approach and leverage various communication channels, such as email, social media, and live chat. Meaningful interactions and relationship building will be the cornerstones of successful sales.
3. Freemium as a Conversation Starter
In a “try before you buy” world, the freemium model is gaining prominence. This model offers users a choice between a free or premium tier, allowing them to experience the product’s value before committing. Approximately 32% of sales professionals now offer prospects freemium options, with about 90% finding it moderately to extremely effective in converting prospects into paying customers. Offering free tools or trials can enhance visibility and attract prospects in the early stages of the sales process, making freemium a powerful lead-nurturing tool.
4. Prioritizing Existing Customers
In 2023, the focus is shifting towards existing customers. Approximately 26% of sales professionals prioritize serving their existing customer base over acquiring new ones. The key to success lies in creating opportunities for growth within these accounts. Upselling and cross-selling will be pivotal strategies, with almost half of companies reporting that up to 30% of their revenue comes from these tactics. Maintaining and nurturing customer relationships after the initial sale is crucial, as it sets the stage for further opportunities.
5. Flattening Sales Hierarchies
The hierarchical structure of sales organizations is flattening, and this trend is expected to accelerate in the next five years. The rise of remote work and technology-driven productivity is leading to cleaner communication and a focus on results. Stuart Blake, VP of Sales at Help Scout, predicts a shift towards more doers and fewer managers on sales teams. Now is the time to reconsider your sales organization structure and explore more effective ways to adapt to the changing industry.
6. Personalization Is Key
In 2022, personalization emerged as a game-changer in sales. More than 25% of sales professionals consider it the most significant change in the industry. However, personalizing every prospect’s experience can be time-consuming. Leveraging your CRM can help you gather and utilize data to create a holistic picture of your customers. A staggering 22% of sales leaders are eager to maximize their CRM’s potential in 2023. Striking the right balance between automation and personalization will be crucial.
7. Specialization in Vertical Markets
In the world of modern sales, “the riches are in the niches.” Targeting specific, smaller markets can lead to faster traction and greater engagement. Focusing on a narrower audience allows for more customized messaging, which leads to higher engagement and trust. As Dan Tyre explains, a more focused ideal customer profile can save time and energy that might otherwise be wasted on unqualified leads. Expect sales teams to continue catering to specialized markets and benefiting from a more engaged audience.
8. Elevating Sales Culture
A strong sales culture remains a timeless asset. Building a high-performing sales team involves establishing a solid employee persona for sales reps, efficient recruitment processes, and a supportive sales environment. As the industry evolves, maintaining and sustaining these values as your team grows will be vital. Sales culture directly influences salesperson performance, productivity, and retention, making it a top priority in 2023.
9. Calling through CRM
Sales reps spend only 28% of their day on actual selling activities. The rest is consumed by internal meetings, training, and prospecting. To maximize selling time, many are turning to CRM systems with call-tracking features. This allows them to reach more leads with less effort, eliminating information silos, enhancing sales productivity, and enabling call recordings for training purposes. Leveraging these tools will be essential to boost efficiency and effectiveness in sales.
Final Thoughts
These nine sales trends are set to reshape the industry. While the landscape may continue to evolve, staying informed and adapting to these trends will position your sales efforts for success. Remember that the key to thriving in sales is to remain agile, responsive, and proactive, ensuring that you are prepared for whatever changes the future may bring.
