According to research by Gartner, ‘only 23% of B2B sales reps believe they are equally effective selling virtually as they are in a live, onsite setting.’
As the world continues to shift, sales organisations must implement new strategies and tactics to keep pace. Buyer expectations continue to rise and experienced sellers show signs of feeling overwhelmed with the digital transition.
In fact, Forrester predicts that by 2023, ‘20% of B2B transactions will happen via e-commerce, web direct and marketplaces.’ This push for speed and efficiency is driven by technological advancements, customer demands and an increasingly competitive market.
These rapid changes may lead to employee anxiety and seller stress. To mitigate this stress, we at redk have laid out five key characteristics for organisations to implement in order to confidently shift alongside today’s fast-paced market.
Sales organisations must embrace the five P’s in their sales tactics to maintain excellent customer experiences and avoid churn.
1- Purpose-Driven
It is no longer enough for organisations to offer a well-designed product. Customers today gravitate towards companies that share their values and offer an unmatched customer experience.
According to Forrester, customers and sales representatives alike are seeking interactions that are meaningful and offer some sort of purpose.
‘Corporate social responsibility will be a differentiator among companies and sales organisations, and those who get it right – for example, through community activism or diversity and inclusion initiatives – will have a head start on their competitors.’
Today, to be purpose-driven means staying ahead of the competition in areas expanding beyond products.
2- Precision
Implementing technology like AI will give sales teams an advantage on a variety of fronts. Sales leaders will be able to set achievable goals, leading to a more effective hiring process.
Selecting the right tools is imperative for increasing revenue and maintaining high levels of customer satisfaction.
In Forrester’s words, ‘68% of global data and analytics technology-driven decision-makers have implemented AI or are in the process of doing so.’
AI tools allow organisations to improve targeting and segmentation, among other strategies. Precision in sales tactics and software selection will enable sellers to deliver a seamless experience.
3- Personalisation
It’s no secret that today’s customers seek personalised experiences. With modern tools and technology at our fingertips, buyers have been conditioned to expect immediate, relevant responses.
According to Forrester, ‘Buyer journeys will be hyper-personalised and consistent at every touchpoint throughout the customer lifecycle.’
The use of AI tools and CRM software will continue to shape buyer expectations, leading to a continuous cycle of the need to update strategies.
Customer behaviour insights offered by AI software will allow sales leaders to predict the next step – fulling utilising both technology and human interaction for flawless buyer/seller engagements.
4- Productivity
To truly be successful, organisations must maximise productivity. Mundane tasks can now be automated, allowing reps to focus on what matters: the customer.
In Forrester’s words, ‘Today, the average rep spends only 23% of their time on core, direct engagement selling activities.’
Organisations must free up their reps to let their expertise shine. In turn, this type of customer service allows organisations to stand out from the rest.
5- Profitability
The tasks today’s sales leaders take on are in continuous motion. Their main objective, however, is to drive revenue by finding the perfect balance between investments in technology and cost-efficient sales.
Forrester’s research explains that alignment is the key to profitability. Aligning people, processes and technology will directly affect revenue.
Organisations that align sales and marketing tactics ‘achieve 36% more revenue growth and up to 28% more profitability’.
This shift in alignment will create revenue while keeping sales and marketing teams on the same page.
Implementing the 5 P’s may require an update in software tools, employee training sessions and time. With our over 15 years’ experience in consulting, we at redk can help your organisation find the right tools and strategies for this type of shift. Arconvert, the leading manufacturer of self-adhesive labelling materials worldwide, trusted us with their implementation of the 5 P’s. Reach out today to see which area of focus is best for your company.
