Sales in 2020: A guide to Sales in 2020
As we reach the last year of the second decade of this century, we realize that we have reached the pinnacle of market evolution. The market is changing practically every month and it is challenging the sales representatives to keep up with it.
Every company in the market is there to sell and make money. However, it is not that easy, especially when the market dynamics are changing at such a fast pace. Thus, there is a need for a sales guide to becoming the torch-bearer for sales in 2020.
Every business has limited resources and time. The success of the business depends on how well these resources are utilized. Focussing on developing and improving the strategies according to the recent trends to drive sales is the key to success for most businesses.
Six Trends to Follow to Improve Sales in 2020
1. Focus on Quality, not Quantity
If you plan to automate your sales process, you will amaze yourself at the number of sales tools available in the market. From automating the cold calls, documentation, expense management to CRM, you can get hundreds of sales tools out there.
However, if you wish to implement most of them, you will complicate the job of your sales team, instead of easing them. Sales tools are there to off-load the sales teams from trivial tasks and not to engage them in a never-ending process of learning these new tools every day.
There can be no sales guide to tell you exactly how many tools does your company need to make the process easier. However, we can surely tell you that to maximize your sales in 2020, you need to make use of the tools that can strike the right balance between your budget, sales team and customer management.
Just keep in mind to select based on their utility for your organization and team and not just because they are available and seem useful. Remember to focus on matching the quality of the tool as per your requirement rather than getting a huge quantity of them.
2. CRM as an important part of sales in 2020
No matter what, CRM is a must of every organization that wants to sell. A survey that tells that companies using CRM get $8.71 as an average return on their technology investment for each dollar spent stresses on this fact.
Although, big-name CRM products are designed mainly for the enterprise companies, however, smaller businesses also have customers to be managed.
Thus, instead of using the spreadsheet files that end up making the data recollection a big struggle, it is better to use CRM. There are many tools available online having the basic functionalities of the CRM for free. Such freeware is useful for start-ups and other small businesses.
CRMs help the sales-people focus more on selling rather than keeping a record of everything manually. Moreover, some better and paid versions also have added functions like expense management, managing email and message campaigns, etc. These customizations can help organizations mould the tool exactly as per their own needs.
3. Clear Communication of Data
Suppose your marketing team fights tooth and nail to get valuable market research data relevant for different sales teams that focus on different regions. However, due to the lack of communication between the two departments, the data does not reach the concerned team on time.
In such a scenario, not only were the marketing efforts wasted but also the sales team couldn’t use it. As a result, there is a waste of time, resources and strategy with no proper sales results at the end of the month.
Doing marketing and sales in 2020, while keeping pace with the changing market trends, will make it increasingly difficult to communicate internally within the organization. Had the data been communicated to the concerned team correctly and on time, the sales teams would have used the data and could have generated a huge number of customers.
In addition to the on-time correct data communication, it is also important for the managers to analyze the data correctly. This is important because only then will the data prove helpful for the sales team and eventually for the whole business.
4. Develop Competitive Advantage
It is extremely difficult to survive in the global market with such cut-throat competition everywhere. Hence, an organization needs a competitive advantage over its competitors for its sustenance.
Competitive advantage is a benefit for a company that enables it to outperform its competitors. It is impossible or at least difficult to replicate by the other companies in the market. Thus, this feature gives the organization a cutting edge over the other market players.
Competitive advantage could be anything like the latest technology, organic raw materials, highly skilled labour, cost leadership, unique geographic location, etc. The biggest boon for using this is that you gain repeat business from your customers.
The reason to use a competitive advantage to increase your sales in 2020 is that customer today has at least 10 different options for anything that he wants to buy. However, if there is no particular benefit he gets by choosing your product, he won’t even consider it while making a choice. Your competitive advantage compels your customer to choose your product over all the others.
5. Augmented Reality
In a sales guide for businesses like construction, interiors, education, medical, tourism, gaming, etc. augmented reality has made a special space for itself. Augmented reality is an interactive technology that helps you enhance the real-world structure or object by adding sensory experiences through a computer.
Kids today need to visualize everything before they learn anything. Similarly, doctors need to perform surgery virtually first before they risk a patient’s life. Likewise, a businessperson needs to visualize his office interiors before he appoints an interior decorator.
Therefore, if you are selling an education tool to a school or major surgical equipment to a doctor or if you are expecting to be appointed as an interior designer for an office, you need to showcase your product or service to your customer first.
Believe me when I say that augmented reality is the future technology that is going to influence sales in 2020 a lot.
6. Focus on Customer Retention
A sales guide is incomplete without the mention of customer retention. No matter what year it is, acquiring a new customer will always cost much more than retaining an existing customer. Moreover, according to a study, 65% of the business of a company comes from its existing customers.
Acquiring new customers is not only costly but also requires a lot of effort, time and strategic planning. It is not going to be any easier in the future. Hence, if you plan to stress more on lead generation rather than retaining customers in the sales guide of your company, you are going to face a tough time.
Therefore, it is better to retain the loyalty of your customers and get repeat business from them instead of investing a huge sum on acquiring new ones. You can do so by solving their problems, keeping in touch, maintaining a good relationship, and offering them rewards.
“Change is the only constant in life.” – Heraclitus
To keep up in the global market, it is important to stay updated with the recent market trends. Technology is improving with each passing day, thereby evolving everything even minutely related to it. Sales is also one of those things that are progressing significantly with time.
The digitalization has helped sales improve as dynamically as never before. Therefore, you cannot keep selling to your customers with techniques that worked just two years ago from now. To keep updated with the changing times in sales, a B2B sales consulting firm can help you out.
They know exactly what is changing around and how a particular industry and organization can fight the challenges and turn them into its favour. They help you develop strategies that work along with the latest technology and market trends. Moreover, B2B sales consultants also support you in implementing the planned strategies with maximum enforcement.