Scrying is an ancient divination practice used for centuries to gain insights into the future and glimpse the past. As we scry into the not-too-distant future, we see a world where change is the only constant. That’s why we've polished our revenue crystal ball to reveal some pathways to success in the ever-so-dynamic landscape of B2B sales.
We've gathered wisdom from three industry thought leaders to glimpse what 2024 holds for revenue teams. While we're not predicting scenarios similar to Blade Runner’s android-run sales floors or envisioning a Minority Report-style foresight determining customer needs, we got a sneak peek into more subtle yet transformative shifts.
Let's discover the big bets for this year – no magic, just keeping it real!
1. New kid on the block: Full sales cycle roles
Expect a significant shift when it comes to the skill sets required of sales professionals. This is a growing trend – the need for sales reps who aren’t just specialists in one part of the sales process but also experts in managing the entire cycle.
Why the need? Several factors drive this shift:
- The increasing complexity of B2B sales requires a broader skill set and a deeper understanding of the customer's journey. Sales reps must be ready to guide customers through every stage, from initial contact to negotiating and closing deals.
- The move towards full sales cycle roles reflects a more strategic approach. By having reps who understand the entire process, companies can provide a more seamless buying experience. This holistic understanding allows for better aligning sales strategies with customer expectations and business goals.
"We need more full sale cycle reps who can do prospecting and closing while being more industry-focused"
Morgan J Ingram (Founder of AMP and host of Revenue Rebels) points to the need for industry specialization among sales reps. Since customers are increasingly well-informed and expect personalized, relevant interactions, having industry-specific knowledge becomes a key differentiator. Sales reps who are experts can provide more value, establish greater trust, and, ultimately, close more deals.
2. Your survival mantra: Less is more
It's not just about having an arsenal of tools but combining these tools into a revenue-driven machinery.
According to Tara Pawlak (Senior VP of Marketing, Revenue Grid), the ongoing consolidation of tech stacks is more than a trend — it's a survival strategy in a market where budgets are tighter than ever. In this economically cautious environment, you shouldn’t just focus on accumulating tech but on squeezing out more value from each tool. Standalone solutions just won’t do it anymore.
"Vendors who can offer more value to their customers than before will continue to win. Not only will they win, but they will also come out on top with the growth in the years to come."
But this isn’t just a matter of convenience or cost-efficiency. It's a strategic move to improve the customer journey. You must create a more unified, user-friendly experience for your customers and smoother transitions between stages in the sales funnel, from lead generation to closing deals.
3. Micro-events FTW
Businesses see a need to connect with their audiences, offering a more intimate, targeted approach to engagement.
It’s about time we move away from the grandeur of large-scale conferences. Micro-events' appeal lies in creating a personal, engaging atmosphere where genuine conversations (and conversions!) can happen. In a world of ever-increasing digital noise, these events offer a refreshing opportunity for memorable interactions that go beyond the superficial touchpoints of larger events.
"People will invest more in events but attend fewer big events. The focus will be on intimate micro-events with 20-40 people, conversation, and genuine connection."
Moreover, micro-events are incredibly versatile. You can tailor them to specific industries, topics, or customer segments, ensuring that the content and discussions are highly relevant to the attendees.
With a smaller scale also comes the ability to organize and execute events more frequently and with a greater focus on quality over quantity.
4. Sales + Marketing = ♥️
A few years back, smarketing was all the hype. The portmanteau didn’t stick around for too long, but the message is still valid: stop working in silos!
For instance, sales and marketing collaboration can be incredibly potent when organizing events, where the combined expertise of both teams can lead to more impactful and targeted engagements.
"Nowadays, events happen, but they don't really go anywhere. Now is the time to collaborate and target the right accounts with the right pieces of content that stand out."
As Morgan points out, events happen but often miss their full potential impact. The new approach involves a more strategic, combined effort. Sales teams bring their deep understanding of customer needs and relationships, while marketing contributes its expertise in content creation, audience engagement, and brand messaging. Together, they can create relevant and engaging events.
But, of course, this synergy extends beyond events. It's about co-creating content that resonates with target audiences and leveraging each other's insights for more effective outreach.
5. Digital sales rooms are the new black
Traditional face-to-face meetings and real-time communication steadily give way to more flexible, digital-first approaches. In this context, digital sales rooms are a convenient tool in the sales tech stack, boosting asynchronous communication and decision-making.
The shift towards asynchronous deal management reflects a deeper change in the rhythm of business interactions. With stakeholders often spread across different time zones and juggling tons of responsibilities, engaging, negotiating, and making decisions on their own time becomes priceless. Digital sales rooms cater to this need, providing a centralized hub where documents, presentations, contracts, and discussions can live, accessible at any time, from anywhere.
"It's almost arrogant of you to think you will get face time with everyone who needs to be part of a decision. Times are changing."
Hannah Ajikawo (CEO & Founder of Revenue Funnel) captures the essence of today's fast-paced, digital-first business world. She also touches on the evolving role of the C-suite in decision-making processes. With leadership roles experiencing more turnover and higher-level executives taking a more hands-on approach to decision-making, the need for tools that accommodate this shift becomes obvious.
Digital sales rooms offer the versatility and depth required to engage these high-level executives, providing them with a comprehensive view of proposals and negotiations without needing constant, direct involvement.
6. Sales force automation with AI – but for real
We’re yet to see a SaaS platform that doesn’t promise “streamlined workflows” as a benefit of their service. And we’re no exception. It’s about time we actually streamline those workflows with automation, where AI becomes the backbone of sales efficiency and collaboration.
Morgan bets on integrating AI in sales processes, which means reps spend less time on admin and more on what they do best – selling.
"A lot of people talk about AI. This will be the time when they execute AI. Last year was ‘Let's talk about it’. Now it’s, ‘Let's do something about it!"
But AI's role goes beyond mere task execution. Tara argues that many existing systems, under the guise of automation, often add more complexity rather than reduce it. The promise of automation has not fully materialized, leaving sales teams longing for tools that work in their favor.
The future belongs to platforms that offer true automation – harnessing AI to not only automate tasks but also learn from data, predict customer behaviors, and provide actionable insights.
Tailored approaches = more effective engagement, higher conversion rates, and a more personalized sales experience.
"Revenue teams who find platforms with insights and AI to provide automation, efficiency, and productivity will be ahead by speed alone. Winning revenue teams will be able to focus on the customer journey and true consultative selling."
7. Your best salesperson? Your customer!
Involving customers is a strategic move towards a more authentic, trust-building approach. This way, your customer becomes a key influencer in your sales process.
When customers contribute their perspectives and experiences, it enriches the narrative and deepens the connection with prospects. This approach can manifest in various forms, such as customer-generated content, testimonials, case studies, or even customers participating in Q&A sessions or webinars. When prospects see and hear from peers or similar businesses, it creates trust and relatability that’s hard to achieve otherwise.
Involving customers also aligns perfectly with the trend toward more personalized and consultative selling.
8. You get an SME, and you get an SME, everyone gets an SME!
Say hello to Subject Matter Experts (SMEs), a new wave in go-to-market channels. Using these thought leaders is a highly effective approach to market engagement.
Internal SMEs can help demystify complex products and offer insights that sweeten the credibility and relevance of your content.
"More companies will find SMEs, customers, or experts, get them to create content, and use it as a new go-to-market channel."
External SMEs, including customers and industry leaders, bring diverse perspectives and real-world experiences that add authenticity to your company's narrative. They serve as external validators, reinforcing the value proposition with independent viewpoints. Just like our three experts in this very article!
The involvement of SMEs is more than just a tactic – it's a strategic move towards building a community around your brand. By leveraging the expertise and influence of SMEs, you can foster a more engaging dialogue with your audience and turn them into fans.
TL;DR
This year is a period of significant transformation and opportunity.
Everything points towards a more personalized, authentic, and community-driven approach to sales. Buyers and sellers are ready for agility and innovation, and the ability to adapt quickly and embrace new strategies will be crucial for success.
Sales professionals and businesses must consider how these insights can be integrated into their practices. Whether adopting new technologies, rethinking customer engagement, or embracing new content strategies, the opportunity for success lies in our ability to move quickly.
