Friday, December 18, 2015

Five Things That Changed In The Sales Industry In 2015

Over the years, things like the mode of communication and marketing strategy have dramatically changed the sales industry as a result of advancements in technology. The sales industry is comprised of both the sellers and buyers and in the year 2015, we saw several interesting changes in the sales industry that benefit the buyer:

Customer Service

Customer service is a vital part of the sales process and is essential to the success of a long term relationship between the buyer and the seller. With the evolution of the internet and the access to information such as review sites, customer service is becoming more and more comprehensive to cater to the unique needs of the customer and the growing competition in the marketplace.

Inside Sales

By definition, inside sales refers to the practice of selling products or services by phone or email, instead of meeting a customer face-to-face. This strategy depends heavily on telecommunications, email and internet to reach customers. Inside sales is actually one of the biggest transformations in the industry out of sheer convenience to the customer.Platforms such as GoToMeeting are making it even easier to connect with clients without having to travel. To date, this strategy has had significant impact on the sales discipline by increasing specialization and bettering access to resources as physical locations become less relevant.

Sales Territories

Sales territories are dying. Nowadays, a seller cannot control a certain geographical location single-handedly. The days where a seller dominated a specific area are long gone thanks to advancements in technology. For sellers of intangible goods like software or other internet based services, geographical proximity between sellers and buyers is a non-factor.

Evolution of the Gamification technology to Rewardification
Gamification involved rewarding people with virtual trophies and badges when they performed well. However, experts in the sales industry have recognized that the future of motivational technologies lies in rewardification. Rewardification involves rewarding people with things like better leads, which translates to potential compensation increases, making it a very powerful motivational tool.

Need for Speed during Sales
Speed is slowly becoming less important in driving sales especially when it comes to inside sales. Technology such as auto-dialing software allow inside sales reps to essentially do more with less by being more efficient in placing calls to prospects and converting them to sales. There are more technologically advanced tools that have evolved to help the sales personnel to do more within a short time frame. However speed without control can lead to chaos and a customer service nightmare! Sales leaders need to balance efficiency with control, ensuring the increased activity is producing the desired results.

The changes we saw in 2015 all come back to the customer. In order to remain competitive, organizations need to continue to make changes that better serve the customer. Good selling will always win out and the bar is going to be even higher in 2016.