Trends for the Future of B2B
According to Gartner, ‘By 2025, 80% of B2B sales interactions between suppliers and buyers will occur in digital channels.’
As the world continues its shift to digital, organisations must implement new strategies to drive success.
At the height of this change, B2B sellers are discovering innovative ways to engage with B2B buyers according to accelerated expectations. In fact, Forrester predicts that ‘this new selling era will be characterised by five P’s that will drive success in the future: purpose-driven, precise, personalised, productive and profitable’.
These five P’s are just one of many drivers to follow when revolutionising your organisation’s sales strategy. B2B selling is being transformed by global trends that have no end in sight, and certain characteristics need to be taken on in order for sales companies to stay on top of the change.
To drive growth and success, sellers must deliver on buyers’ expectations and solidify customer relationships.
Understanding The Trends
Before real change can happen, it’s imperative to understand the global shifts that brought B2B selling to where it is today. Behind a younger generation of buyers is a foundation of digital savvy that didn’t previously exist. Additionally, the pandemic pushed remote working, proving that sellers can still sell successfully via digital meetings.
These trends will continue to be present in the B2B arena, further impacting how sellers engage.
A new demographic. Today’s buying demographic is digital-centric – in fact, according to a Forrester survey, Millennials and Gen Zers are stepping into leadership roles and switching the status quo by accelerating digital methods without losing value.
Remote capabilities. The post-pandemic buyer-seller relationship is mainly virtual, encouraging sellers to think of creative ways to be effective and efficient. The pandemic proved that trusting relationships can still be made from the comfort of the home office.
Increased tools and expectations. According to Forrester, ‘57% of B2B sales leaders plan to make deeper investments in tools with AI and automation.’ And because buyers know the tools are out there, they expect more from sellers. Buyers are looking for seamless experiences with instantaneous results.
The P’s to Success
Organisations must embody five main characteristics to keep pace with the shifting times. We at redk have broken down the five P’s for you here:
Purpose-Driven. In today’s market, having a competitive product isn’t the only thing that counts. Buyers seek out brands that share their values or display a sense of corporate responsibility. Precise. Sales leaders have precision at their fingertips with the advancements of AI as it will allow them to set realistic goals and segment customers to drive successful strategies. A Forrester Analytics survey showed that ‘68% of global data and analytics technology decision-makers have implemented AI or are in the process of doing so.’ The continuous up-shift in tech will allow sales teams to deliver the type of precision buyers desire.
Personalised. It’s been said before: personalisation is key. The most successful organisations will create buyer journeys that use personalised insights at every touchpoint. Utilising both human and AI interactions, customers will feel valued and that their needs are met at an individualised level.
Productive. According to Forrester, ‘the average rep spends only 23% of their time on core, direct engagement selling activities.’ In the future, administrative tasks will be automated, allowing reps to spend more time working toward company goals. The future will be more productive and sales teams will be available to use their expertise to the fullest.
Profitable. It’s time to reduce costs and grow revenue with a shift in mindset. Organisations must map out plans that blend company-wide strategies, putting the focus on alignment. If companies are able to align their teams, processes and tech, they’ll achieve growth and profitability.
The Next Steps
We here at redk understand the importance of moving with the trends. To that end, we’ve taken it one step further in this week’s episode of our podcast, redkLIVE. This episode features Tim Gale, the regional sales director at SugarCRM. During this 12-minute episode, we take a deeper dive into the B2B sales trends for 2022.
With our over 15 years of experience in consulting and implementation, we are ready to help you shift toward the future of sales. Don’t hesitate to reach out today.