Introduction
Let’s not sugarcoat it — B2B sales is hard right now. Buyer preferences are shifting, and sellers must adapt quickly or risk being left behind in a rapidly evolving market. As buyers take greater control of their purchasing journeys and sellers find themselves with diminishing facetime, the sales process has become increasingly complex and competitive.
Compounding these challenges are tight budgets and an ever-expanding sea of competitors vying for buyers’ attention. Standing out is no small feat, and sales teams must navigate these obstacles with ingenuity. Now more than ever, success hinges on equipping sellers with the right tools and technology to achieve their quotas and drive growth.
Recognizing the urgency of these changes, Mediafly surveyed 300 North American-based revenue professionals from organizations across diverse industries. Our goal was to unearth actionable insights and trends that sales leaders can use to navigate these challenging times and drive their teams toward success. Below, we offer practical takeaways and recommendations, empowering sales leaders to adapt, innovate, and thrive.
Allocating Headcount Savings to Technology
of sales leaders indicated they’re actively or planning to redeploy sales headcount savings to invest in technology.
As budgets tighten and the sales landscape grows ever more competitive, the traditional approach of growing sales teams to drive revenue has become untenable. Instead, sales leaders are rethinking strategies, using innovative technologies to maximize efficiency.
Amid rising interest rates and inflation, companies across industries are grappling with the harsh reality of layoffs — underscoring the urgency for leaders to optimize their resources for sustainable growth.
Technology plays a pivotal role in operationalizing sales strategies and enabling small teams to make a big impact. 67% of sales leaders intend to redeploy sales headcount savings towards investments in innovative sales technology.
In the modern sales environment, technology is the key to engaging buyers, automating redundant processes, and driving unparalleled efficiency.
Consolidating and Simplifying Your Tech Stack
of buyers prioritize sales technology vendors that offer multiple products in an effort to minimize the number of vendors used.
In the quest for efficiency, sales leaders are recognizing the importance of consolidating tech stacks and embracing platforms that offer comprehensive solutions to streamline operations. The shift from favoring best-in-breed solutions to platforms that minimize toggle tax and offer multiple functionalities reflects a growing trend towards simplification in sales technology.
of revenue professionals have been asked to or are actively trying to consolidate their sales tech stack.
A staggering 75% of sales leaders prioritize choosing vendors that provide multiple products, highlighting the desire to minimize the number of disparate systems. This consolidation not only reduces complexity, but also enhances productivity and effectiveness, allowing sales reps to focus on what truly matters — engaging buyers and driving revenue.
Sales leaders are placing a premium on technology that:
- Enhances sales and revenue enablement
- Drives efficiencies
- Incorporates embedded AI capabilities
These features empower sales teams to work smarter with data-driven insights that optimize strategies and achieve greater success.
Unifying Revenue Data
of organizations prioritize vendors that offer a single source of truth for data.
Implementing and integrating sales tools isn’t simply a matter of throwing technology at the problem and hoping for the best — sales leaders must strategically invest in technology that arms sellers with the insights they need to effectively engage the right buyers at the right time.
Collecting and unifying revenue data is a natural extension of the strategic approach to consolidating technology. With 70% of organizations recognizing the importance of a single source of truth for data, the emphasis on integrating disparate sources into a centralized platform has never been greater.
High-performing companies are 20% more likely than low performers to be automatically capturing and uploading activity data.
High-performing organizations are leading the charge, leveraging platforms that capture data from various sources for a more complete picture of buyers. These businesses are 10% more likely than low-performing counterparts to use conversation intelligence data to better understand their buyers and seller performance.
These forward-thinking organizations are also laying the foundation for effectively leveraging the power of generative AI (GenAI). By harnessing the data at their disposal, sales leaders empower their teams to spend more time selling.
Leveraging Value Based Selling to Break Through
of high-performing organizations are using a value-based selling methodology.
To succeed in a hyper-competitive landscape, sellers must be able to speak the language of value and effectively persuade key decision-makers, including C-suite executives. Gone are the days when products could sell themselves based on features and capabilities — now, sales reps must lead with value, providing compelling economic justifications for their purchases before decisions are made.
However, many organizations still struggle to effectively implement value-based strategies. From inadequate value assessments to poor seller adoption of value programs, the pitfalls are numerous, highlighting the need for a concerted effort to prioritize and refine value-selling initiatives.
Equip your sales team with the necessary skills for incorporating value into every stage of the sales process, and with every stakeholder. With finance and procurement professionals playing increasingly influential roles in purchasing decisions, reps must be prepared to clearly articulate and demonstrate value that resonates.
Getting Ahead of Generative AI
of revenue teams currently use or experiment with Generative AI to accomplish tasks.
Generative AI has emerged as a powerful tool with the potential to revolutionize business initiatives, including sales and enablement. 59% of revenue teams are currently leveraging or experimenting with GenAI, and high-performing companies are 44% more likely than low-performers to be using or experimenting with it.
GenAI’s rapid integration into the market demonstrates its significance in shaping the future for revenue teams, offering unprecedented opportunities to support seller activities. Already, teams that have embraced the technology are reaping the benefits of its capabilities, experiencing tangible improvements in efficiency and effectiveness.
Organizations must proactively position themselves to leverage the full potential of GenAI. Centralizing and refining data, along with establishing clear usage policies, are essential in fostering a culture of experimentation and innovation. By embracing GenAI today and preparing for its future capabilities, revenue teams can stay ahead of the curve and unlock new levels of success within the ever-evolving sales landscape.
Technology That Fuels Your Impact
Sellers are facing unprecedented challenges today. Between increasing buyer skepticism and diminishing face time with potential customers, sales leaders need to arm their teams with the tools, resources, and insights they need to make a greater impact.
Mediafly is a unified platform that equips sellers with everything they need to engage buyers and provide exceptional experiences. With solutions for content management, revenue enablement, and sales readiness, your team will be ready for every interaction with every prospect — anytime and anywhere.
