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11 sales trends to track over the next decade

Sales Trends
Topics
Increase in adoption of new technology
Increase in training and skill development
Changing incentives and compensation
The challenge of prospecting and lead qualification
Changes to the amount of time spent on sales
The shifting world of remote and hybrid work
Budget cuts and layoffs
Increased activity to make up pipeline shortfall
Increased focus on digital channels
Increase in relevant messaging
The new normal?

Already, sales managers are looking ahead to next year and anticipating what trends they can expect to see. How can sales teams prepare for the year to come? What sales processes are likely to change and what’s likely to remain the same?

We’ve analyzed the state of sales at the start of the year and researched how sales teams have reacted to the pandemic, identifying 11 sales trends that are set to continue into 2024 and beyond. By adapting your processes and procedures based on this sales trends analysis, you can be in the best position as we prepare for the new year.


Increase in adoption of new technology

Many sales managers are willing to spend money on new tools and technology that can improve their team’s performance. Analysis carried out by Gartner revealed that worldwide IT spending is projected to total $5.1 trillion in 2024, an increase of 8% from 2023.

Meanwhile, the majority of respondents to Pipedrive’s The state of sales and marketing: the economy review 2022/23 survey said their company has invested more in technology over the last few years.

Of course, the big question is whether following this sales industry trend is worth it. When companies around the world are cutting costs, is it a smart time to invest in new technology? Well, our State of Sales report found that the use of tools improved sales across all metrics.

For example, people working in companies that invested more in technology were 18 percentage points more likely to hope that their company grows in the following year. For happier and more positive sales teams, adopting the right tech is a great place to start.


Increase in training and skill development

Some people believe selling is an innate talent; you’ve either got it, or you don’t. As a result, there’s traditionally been a lack of sales training, with new hires thrown into the deep-end and expected to fend for themselves. For many salespeople, as we revealed in our report, the only training they’ll ever have is on the job.

While some undoubtedly have a natural gift for sales, like any other skill, it can be taught and improved. It’s now easier than ever for both sales managers and salespeople to access high-quality sales training, in many cases for free, and to improve their sales process.

This doesn’t just apply to specific sales training. Salespeople who regularly work on improving their soft skills and developing highly effective traits—such as relationship management and communication—are more likely to consider themselves successful.

With the increased availability of training and a greater awareness of the benefits, companies are likely to put a greater emphasis on sales and soft skill training in order to retain their competitive edge over the next decade.


Changing incentives and compensation

Companies have been forced to introduce new policies and procedures to deal with sudden and monumental changes to the way they do business. Everyone knows they need to adapt, but many aren’t sure how. While it might be tempting to lower costs and cut back on incentives, it’s also vital to keep sales teams productive and motivated. With no rule book available with best practice for this situation, we’ve seen companies react with drastically different responses.

McKinsey reported that more than 80% of B2B companies had adjusted their incentives for sales teams as a result of the COVID-19 outbreak, but what those adjustments actually looked like varied considerably. For example, 30% of the companies surveyed had lowered quotas, but 20% increased them.

As the situation develops and companies see their results change, we’re likely to see further adjustments as we seek to redress the balance. Lower quotas will inevitably rise again as companies chase growth, and higher quotas will fall to keep hold of key talent.


The challenge of prospecting and lead qualification

Sales isn’t an easy job. It’s full of challenges and, according to the sales trends analysis section in our study, the biggest of those challenges is prospecting and lead qualification. In fact, 34% of the people we interviewed said it was the biggest challenge. Even with the easy access to information that we have today, finding leads and checking that they’re the right fit for your product or service is hard work.

As the decade has progressed, it’s fair to say that lead generation has become more challenging. People’s priorities have changed and budgets have been slashed. Buyer personas and ICPs from the start of the decade are now hopelessly outdated. As a result, we’re seeing a need for improved targeting.

As people readjust, it seems inevitable that many will try and solve this by resorting to spray-and-pray techniques – trying to target anyone with a pulse –but this has always been an inferior approach. As mentioned previously, only half of sales representatives are using technology to source their leads, despite the wide availability of tools. By taking advantage of technology to focus efforts on those prospects who are a perfect fit, companies can make the most of their sales enablement and marketing resources.


Changes to the amount of time spent on sales

According to the sales trends analysis section of our report, salespeople are working seriously long hours. In fact, it’s quite common for them to work through their evenings and weekends, often without any additional compensation. This is particularly true for sales managers, 68% of whom work more than 40 hours a week on average.

Ironically, despite regularly working long hours, only 62% of salespeople—that’s excluding sales managers and business owners—said they spend most of their time selling. That means 38% of people in sales were spending more time on auxiliary activities than actually selling.

However, with the increased adoption of technology, savvy salespeople will be able to use artificial intelligence and machine learning to take care of more of the mundane tasks, freeing up their time for high-touch sales activities. As a result, we should see more salespeople spending more of their time on sales.

Sales trend remote work

The shifting world of remote and hybrid work

Remote work certainly isn’t a new trend, but this is the decade it went from being a nice perk to a critical part of work and essential to many businesses’ survival. Our 2021 State of Sales report showed 23% of people in sales worked from home. By March of that year, with large portions of the world in lockdown, McKinsey reported 90% of B2B sellers were working remotely, either by video-conferencing or phone. In some sectors, such as technology and media, the figure was close to 100%.

Now many workers are now slowly returning to their office cubicle, but there are a growing number of companies who are promising that working from home will be an option going forward. Employees were less reluctant to return to the office this year, compared to 2021, but 51% still admitted reluctance.

There are still questions about the long-term advantages and disadvantages of remote-first, hybrid and office-only models, but remote selling is one online sales trend that’s here for the long haul.


Budget cuts and layoffs

The global economy has been hit hard this decade, with global unemployment figures spiking in 2020. After dropping again in 2021, they have started increasing again over the last two years, as conflicts and macroeconomic factors cause uncertainty in the markets. Companies are generally reducing spend and cutting costs wherever they can and, in some cases, this has meant letting salespeople go.

When Tenbound released their research into the impact of the pandemic on B2B SaaS sales development organizations, they reported that 20.8% of companies had laid off some of their SDRs.

While salespeople may be working harder to prove their value, it’s difficult to imagine how they can be effective if they’re worried about their job. To help ease these concerns, it’s vital that sales managers take the time to regularly communicate with their teams to keep them motivated and engaged. Encourage them to share how they’re doing and how they’re coping with all the changes.

These are challenging times for everyone, so be empathetic and ensure they’re kept up to date on any changes. For example, why not prioritize internal communication with your sales teams? This approach to communication will enable your sales team to work effectively and confidently, despite the circumstances.


Increased activity to make up pipeline shortfall

When the pandemic first hit, many salespeople reacted by reducing the number of calls made and emails sent each day.

It was an understandable reaction in view of the situation, but for companies to remain in business they need to take control and manage their sales pipeline. While the channels and messaging almost certainly need to change, that doesn’t mean sales activity has to drop. Rather, activity needs to be maintained or even increased in order to make up for the shortfall.

Reexamining your core sales processes and activities is key in order to maintain a competitive advantage in this new climate. Rather than continue to operate an old model that isn’t fit to the new terrain, it’s important to adapt, innovate and reshape your foundations, need be.


Increased focus on digital channels

The last few years have seen the start of some interesting online sales trends.

McKinsey found that sales leaders now rate digital channels twice as important compared to the last decade. Companies that are able to create an omnichannel sales experience, where multiple different channels are used to reach out to prospects, will benefit the most.

What digital channels are the most effective? McKinsey’s survey of B2B decision-makers found they rated live chat as the most beneficial channel for researching and considering suppliers, up 93% compared to 2019. Pipedrive users can currently get Live Chat added to their website as part of the LeadBooster add-on. The perceived benefits of posts on social media were up 85% over last year, while text messages from sales reps were up 70%.

While many of the big names have managed to pivot partially to digital events, physical events are on the rise again, with the market size of the exhibition industry worldwide forecast to surpass pre-pandemic levels in 2026.


Increase in relevant messaging

Buyers want to be heard. LinkedIn’s State of Sales report found that ‘active listening’ is the most valued attribute in a salesperson, according to buyers. For sales managers though, it didn’t even make the top five.

But while salespeople have traditionally been seen as pushy, some are re-evaluating how they interact with prospects. The seller/customer relationship is more important than ever, with top sellers seen as trusted consultants that can be relied on in difficult times. As a result, sales teams are paying more attention to long-term goals, such as customer experience and retention. This is reflected in the messaging that salespeople use, such as increased personalization, which is even more important in 2024.

As potential customers have vastly different pain points and priorities from a few months ago, salespeople have to make sure the messaging they use is in line with those changes. As further changes happen on a near-daily basis, successful salespeople will regularly revisit their messaging in the coming year, ensuring it always matches the conversation their prospects are having.


The new normal?

While we've seen a lot of changes already this year, it’s important to ask whether these changes are just a blip, or whether they represent a fundamental shift in sales. Will the sales industry go back to the way things were, or is this the new normal? What sales industry trends can we expect to see in 2024?

The answer depends on how effective these changes have been. If the results of these sales trends have been positive, despite the economic uncertainties, it makes sense that the changes will become permanent. The McKinsey survey reported that 65% of B2B decision-makers rated their new sales model as equally or more effective, compared to their previous models. Interestingly, this represents an ongoing increase in the perceived effectiveness, up from 60% in early April.

While many of these changes couldn’t have even been imagined at the start of the decade, many of them represent sales industry trends that have been growing for some time. The shifts to new sales tools and technology, remote selling and digital channels have been on the horizon for a while, and have merely been sped up by the coronavirus.

Nick Toman, chief of research for the Gartner Sales practice, says that innovative practices that address unique challenges are key.

“Well-developed but flexible plans that help the business evolve, to shifts in customer behaviors, and related impacts on sales team morale will be critical in providing clearer points of engagement for customers, partners and sales teams alike,” he says.

While the economic repercussions are still being felt, they’re also forcing sales managers and their teams to think more carefully about their methods, encouraging them to focus on building relationships and refining their message.

As a result, we can expect salespeople to show the same resilience they always have and continue to be the core of successful businesses in the years to come.

Driving business growth