This YouTube video (Feb 7, 2023) presents three major findings from Salesforce's State of Sales report: (1) buyers expect personalized consultative selling and sellers rely on cross-functional/team selling, but alignment remains challenging; (2) 94% of sales organizations are simplifying tech stacks because reps are overwhelmed by an average of 10 tools, and high-performing reps are more likely to use AI; (3) companies are prioritizing training and coaching amid high turnover (25% in 2022) and budget constraints, though only a minority receive frequent coaching. The presenter, Brian Tong, highlights practical implications for sales leaders.
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Did you hear this stat from our latest state of sales report? Well, get ready because it's a doozy. Only 28% of sales reps expected to beat their quotas last year. Oof. So you know, how are sales leaders responding to the current selling environment? We asked more than 7,700 sales reps in 38 countries and 14 industries about what they're doing to stay ahead in 2023. And we definitely got an earful. But hey, I'm getting ahead of myself. What's up everybody? I'm Brian Tong, your guide to all things salesforce. And I'm here to go through a few of the top trends from this year's report. These are insights that you can use to help you stay ahead of any challenges that blow your way this year. So let's get into it. Okay, the first big takeaway from the report. Buyers expect reps to drop the hard sell and offer personalized consultation. Buyers are coming to the table with more information and they're asking sellers nuanced questions to help them solve their unique problems. In fact, 81% of reps say buyers increasingly conduct research before reaching out to sales teams. So by the time they talk to a rep, they want a trusted advisor to provide them with a tailored consultation, not a sales pitch. And this can be a lot for reps to handle on their own. That's why 81% of sellers in our report said team selling helps them close. And indeed, reps are pulling resources, knowledge and information from around the organization. So that's marketing, it, finance and service to help them close deals. Now, sales leaders reported cross functional alignment as the number one tactic for driving growth. But it's also a top challenge. In fact, 82% of reps say alignment with other teams was at least somewhat challenging in 2022. And that is something that we should be looking at as we head into 2023. Okay, our next big trend from the report. 94% of sales orgs are simplifying their tech stack. And and they're doing it for a good reason. Two thirds of reps told us that they are overwhelmed by too many tools. So these are tools for getting quotes, researching projects, prioritizing leads. The list goes on and on and on. In fact, your peers told us that sales teams use an average of 10 tools to close deals. So that's 10 new opportunities to forget your login info. I know you've been there. Now 10 tools. Let's be real. That is too many. And sales teams can win by simplifying getting rid of single function tools and adding that functionality to a CRM. You know, like Salesforce, you know what I'm talking about. Now that change can reduce costs, increase data visibility and boost efficiency. So getting rid of a single function tool and bringing in that functionality into a CRM can have huge wins for sales teams, including reduced costs, data visibility and boosted efficiency thanks to less context switching between tools and artificial intelligence. This is a huge win here. Too many CRMs have AI features and when used properly can remove busy work like updating deal records and scoring leads so sellers can only focus on conversations with buyers. And this isn't a theoretical productivity booster either. As our report reveals, high performing reps in 2022 were 1.9 times more likely to use AI. Okay, last but not least, a key state of sales takeaway on the employee experience resource. Strapped sales organizations are zeroing in on training and coaching. We know times are tough, resources are strapped, and retention is still an issue. Now our report found that while a great resignation may seem to be in the rearview mirror, turnover is still high 25% in 2022 and that's likely to carry over into 2023. And then to compound the issue, 85% of sales leaders told us that they struggle to get budget for needed headcount. But limited resources doesn't mean sales teams are off the hook. They still have to hit those revenue targets. And that means it's critical to keep the reps you do have happy, engaged and productive. So they continue to close. And that's a tall order like I'm trying to keep you happy and engaged to keep watching this video like I'm there with you. So there are a few ways that leaders are making it work. They're offering flexible working environments, improving benefits, and streamlining sales processes. But beyond benefits and updated processes, they're helping every rep be a star player by expanding training and coaching. And it seems to be a good area for doubling down. 81% of sales professionals said they get valuable coaching from their manager. There's a hitch though, because just 26% of all sales professionals said they get coaching at least weekly. So that means sales managers are probably dealing with a lot when they sit down with their reps. So enablement technology can help managers make the most of their time that they do have with sellers by automatically servicing big impact areas for rep coaching. This is a big area of opportunity because only 53% of sales leaders said that they use coaching solutions like this. The bottom line is it's a different selling environment, but sellers are adapting and mapping out strategies to stay ahead of whatever challenges come next. Now, if you're curious to see what other trends are happening in sales can click the link on screen to review the full state of sales report. And be sure to subscribe to our YouTube channel for more valuable insights. We'll see you next time.
