One fact that we must all know is that new opportunities and challenges will arise due to the growth and popularity of artificial intelligence, automation, and many other technological advances in sales technology and techniques in 2018 and the years to follow. In today’s world, growth and evolution of ideas and innovations are significant factors that make businesses thrive and so if there is a shortage of ideas and innovations in any way, such company may come to an abrupt end or may find it difficult to compete with others. Below are five essential trends that are set to shape the outcome of sales and marketing.
50% of sales metrics will change in the next three years
Going by the 2017 State of Sales, we could deduce that the significant sales metric was expected to be customer experience. But 12 months down the line, it has been effectively toppled over by customer satisfaction. What it indicates is, sales leaders are looking for ways to ascertain the performance of their team beyond mere customer satisfaction and more into a customer journey. Should they consider looking up sales representatives concerning the value of customers in a lifetime? The number of times they buy? Customer churn rate based on their sales? Although traditional metrics might still be in trend for some time, salespeople are likely to be judged more on their capabilities to create and maintain high-quality customer relationships.
Reps will be compensated on usage, not deal size
Flexible usage is referred to as the ability of customers to pay for a particular service or product concerning a sliding scale of the amount used or need. Many sales representatives usually have a quota, a usage growth quota, and they are paid their commissions concerning the growth of the customer shown on the quota. What it signifies is, it will be more beneficial when you enable a client to use a product instead of closing a deal.
Customer service agents are the new sales rep
Nowadays, customer demands are more superior all over the touchpoints. That is why companies have to ensure they rethink the purpose of customer service in increasing the lifetime value of customers. When you strive to make customer success a priority, you stand a better chance of seeing customer service as an improved customer experience center that provides long-term value and growth of revenue rather than merely viewing it as a cost center. Improved customer service can then transform into a competitive differentiator because then, companies strive to ensure that customers return and keep buying more. Enabling sales reps as well as customer service agents will help to improve the overall customer experience.
Modern selling continues to expand into more digital channels
More channels such as chat, mobile chat, videos and short messaging service or text messaging (SMS).
AI will require more sales headcount, not less
The role of artificial intelligence (AI) for salespeople is not to serve as a replacement, but to make their manual and tedious tasks stress-free, and to also enable them to understand the needs of customers better. As a result, they are empowered to deliver a better and improved overall customer and brand experience. Studies have shown that artificial intelligence (AI) leads to more job growth.