As consumers grow and change in their preferences and buying habits, so, too, must your sales strategies change. For instance, a small business owner 30 years ago likely would not have been able to anticipate the importance of online sales in today’s day and age. In today’s fast-changing world, it seems like new sales strategies have to be formed every year to keep up with consumers.
So, what should you plan for in 2024? Here are some of the things we’ve seen crop up:
#1 – AI Implementation
Automation is everywhere these days, and it can help with your sales process. You can use AI chatbots to be more available to your customers. AI sales dashboards and digital sales tools can help to streamline your process and highlight any weak spots that you might need to improve. You may even be able to find AI software to help you close the sales deal.
As with anything else where AI is concerned, be careful what you choose. This is especially true if your AI interacts directly with your customers or in making sales. Machine learning can still have some flaws, and potential errors can negatively affect your business. Test the AI and make sure to do regular quality control rather than setting it loose without any moderation.
#2 – Hybrid Sales Outreach
McKinsey predicts that by 2024, hybrid sales strategies will dominate the B2B sales world. Hybrid sales strategies involve a combination of in-person and digital outreach. The idea of making sales in-store or sending sales representatives to meet in person with a potential client are not going away any time soon. Ultimately, humans still crave human connection. However, there is an increased need for digital outreach — email marketing, chat, or digital meetings to discuss implementation. This is particularly relevant when it comes to SaaS products.
Failing to embrace digital outreach will leave your company stuck in the past, but failing to incorporate those in-person conversations may make your brand seem cold and distant and may discourage customer loyalty. The best all-around solution is to create a hybrid sales strategy.
#3 – Data and Data Analytics
Data and data analytics help you to understand better exactly who you’re selling to and how well you’re doing in those markets. It’s important to understand your customers in order to maximize your sales. Data allows you to familiarize yourself with their preferences and past purchases. With this, you can more effectively point them towards products that they are more likely to buy. Data analytics can also help you get a sense of how well your sales are doing and how you can improve your sales.
#4 – A Focus on Customer Retention
Finding new customers is hard, especially in the midst of what may be an impending economic crisis. Of course, drawing in new customers will always be a goal for sales. However, in 2024, trends indicate that there may be more of a focus on customer retention.
Ideally, you don’t just want to bring in new customers. You want to keep those customers by earning their loyalty. Focusing your sales strategies on customer retention is a great way to keep business stable while also hoping to grow it with new customers. You can focus on customer retention by boosting your customer service and offering customer loyalty rewards, such as a discount after so many purchases are made.
#5 – Teamwork With Marketing and Other Departments
Sales and marketing go hand in hand. Marketing helps to draw your target audience to your product, while sales work to seal the deal and get a sale from the interaction. So it only makes sense that when sales and marketing team up, both are better for it. Marketing can inform the sales department about the interests and preferences of the target audience, and sales can inform marketing on what products or services tend to go over the best with what audiences.
However, you shouldn’t stop at teaming up with marketing. Check-in with other departments, like product development and customer service. Remember that these are all organs to the same larger business — providing great products and services to your customers. Working with product development will help you understand what you’re selling, and customer service can help to build those relationships with customers that eventually lead to sales. The more your departments collaborate with each other, the stronger your company will be as a whole — and the more sales you’re likely to close the deal on as a result.
