4 Key Statistics That Illuminate the Future of Sales
When it comes to sales, one thing is certain: uncertainty is always present. This was highlighted in our latest State of Sales report, which revealed that 72% of sales professionals do not expect to achieve their annual quotas. The reasons behind this include challenges such as inflation, ongoing health concerns, and disruptions in the supply chain.
However, amidst these challenges, sellers are finding ways to adapt and overcome by maximizing efficiency, reducing costs, and increasing sales representative productivity. Here are 5 sales statistics from our State of Sales report that shed light on how sellers are navigating the current landscape:
1. 70% of sales leaders state that their companies are now taking fewer risks compared to pre-pandemic times.
In the face of economic uncertainty, companies still need to meet their targets. Rather than taking gambles on high-risk strategies and tactics, sales leaders are adopting a more cautious approach. In fact, 55% of sales leaders prioritize low-risk initiatives that offer modest but guaranteed growth. The key takeaway here is that in turbulent times, sure bets hold more appeal than uncertain gains.
2. 66% of sales reps claim to be overwhelmed by the number of tools they use.
As mentioned earlier, juggling multiple tools is one of the reasons why reps have less time for selling. On average, sales teams utilize 10 tools to close deals. While each tool may serve a purpose in the sales process, they can be costly, lead to information overload, and distract reps from engaging with prospects and customers who drive deals forward. Furthermore, having multiple tools means that data is not centralized, which can result in decisions being made based on inaccurate or outdated information.
3. 94% of sales organizations plan to consolidate their tech stack within the next 12 months.
To address the issue of tool overload, sales organizations are actively seeking ways to streamline their technology stack. However, the solution is not simply getting rid of technology altogether. Instead, it involves optimizing critical tools and eliminating nonessential or redundant ones. There is significant room for improvement in this area, as only 37% of sellers strongly agree that their company fully maximizes the potential of their CRM system. George Carrera III, Senior Manager of Systems Technology at Mitsubishi Elevators, emphasizes the importance of both consolidation and optimization, stating that sales teams should analyze their processes, utilize essential tools effectively, and eliminate legacy tools that no longer provide value.
4. 97% of sales leaders and sales operations professionals believe that AI enables reps to have more time for selling.
In addition to streamlining their tech stacks for increased efficiency, sales organizations are eager to reduce the manual work that burdens sales reps' daily routines. By leveraging artificial intelligence (AI) in conjunction with automation, tasks such as updating deal records and lead scoring can be automated, freeing up sellers to focus on meaningful conversations with buyers. This is not just a hypothetical productivity booster, as our report reveals that high-performing reps are 1.9 times more likely to utilize AI.
These statistics highlight the evolving landscape of sales, where sellers are adapting to overcome challenges and embracing automation and AI to drive efficiency and productivity. By leveraging technology effectively and optimizing processes, sales teams can position themselves for success in the future.
