Now two months into 2024, B2B sales have begun to pick back up from the holiday lull. But B2B customers may be approaching them with expectations and patterns that they didn’t have in years past. If you want to stay on the cutting edge and get the most out of your B2B sales, you have to follow the trends.
So what are those trends? Even though 2024 is still in its first quarter, we are seeing several B2B sales trends beginning to emerge.
#1 – Prioritizing the Customer
Your B2B product or service needs customers. If no one engages, your brand will tank. So in 2024, we’re seeing an emphasis on customer focused sales and customer satisfaction. This includes a keen survey of the customer journey from a CRM perspective, available and helpful customer service, and personalized sales approaches. Fit your product or service to your customer, not the other way around.
#2 – A Careful Infusion of Generative AI
In 2023, about 5% of B2B sales work was conducted by generative AI, such as ChatGPT. However, that number is expected to increase to 60% by 2028. B2B sellers are embracing generative AI to free up time and costs for themselves and streamline their work flow.
But there are still some kinks to work out with generative AI. In addition to quality issues, there are also concerns about compliance with data privacy laws. Failure to comply with regional data privacy laws could result in heavy fines for your business, and without input specifically designed for compliance, your AI could accidentally land your business in trouble. Hopefully these kinks will be worked out in the coming years, but for now, approach carefully.
#3 – More Immersive Digital Experiences
As the world becomes more digital, it’s no longer impressive to have a great website with a good user experience. That is, in fact, the base requirement. That’s why in 2024, many B2B sales teams are taking things a step further. Virtual reality product demos can give customers a more immersive experience with your product before they make a purchase. Interactive webinars and personalized customer journeys are also becoming more vogue.
#4 – Targeting Multiple Shareholders in the Same Company
Targeting multiple shareholders within the same business can be beneficial for a number of reasons. For one thing, it shows your interest in that business. It can also help you to develop a stronger, more nuanced understanding of that business’s needs so you can cater your sales strategy to them.
It may also help to have multiple perspectives on your offerings. For instance, if one shareholder is on the fence while another is more enthusiastic, the latter may be able to convince the former that they should take a chance on your brand. Invest more in the business you want to work with, and it will increase their chances of investing in you.
#5 – Keeping ROI at Front of Mind
That said, you need to be cautious about how you decide what chances to invest in. Business is always a gamble. Risk is always involved. But a good sales professional can minimize the risk by considering the potential return on investment. Weigh the ROI against the risk; and if the ROI is higher, take the chance.
This is an old rule, but one that hasn’t been prioritized as much in the “wide net” sales strategies of the past few years. As budgets get tighter, however, B2B sales professionals have to be choosier about their choices. Look for customers that have the potential to offer the most value before targeting them.
#6 – The Sovereignty of the Human Element
AI can be a useful tool to free up time for sales professionals, but it should free up time to let them focus on what they do best: interacting with other humans. Even in the business-to-business world, sales is a fundamentally human experience. And no amount of automation will take away the need to connect with potential customers, to understand them and meet them where they are.
In fact, as digitization rises, customers are looking for even more humanization in sales approaches. They want to know that they won’t just be another bundle of data entered into your system, but that your business will actually care about them. Personalization and a strong marketing strategy that helps you truly understand your customers can help ensure that your sales approach stays human.
The B2B sales world is ever changing, but some trends remain classics for a reason. Keep a pulse on both old and new trends to help your B2B business truly thrive.
