Technology has grown at an alarming rate in the last two decades, and the trend is going to take an upward trend in future. This means that the changes are likely to revolutionize our living and working conditions. The sales industry, which has become more dependent on technology, will experience significant changes leading to increased efficiency, productivity of workers, and profitability of businesses. The advancements will also revamp the sales process right from prospecting to closing.
The sales industry will combine the improvements in the mobile sector, analytics, cloud, and other systems to provide quality services to their clients. However, the developments in technology are likely to cause downsizing of workforces due to the increased efficiency of machines. Technology comes with the development of new products, meaning that the sales teams are more likely to benefit from the advancements through selling and increased brand awareness. This means that they have a commitment towards lifelong learning of new sales skills and improving their product knowledge. Some of the trends that will revolutionize the sales industry include:
1) Virtual Reality
Use of virtual reality in business is increasing each day, and you can be sure that the trend is bound to increase in future. Making a clear distinction between what is real or unreal will be a bit difficult. Sales representatives will use 3D headsets and glasses to give a clear look of a product and its usage. Furniture buyers can use VR to check whether a sofa or a table fits in their sitting room without taking any measurements. This will lead to an automatic increase in sales of most companies.
2) Social Media Use
A few years ago, social media was just an entertainment and interaction platform, but it has currently grown to be one of the best marketing grounds for most business. In future, it might be one of the common sources of referral for most sales representatives in the business. There is a high likelihood of people buying from someone referred to them through a friend or a workmate. This means a sales rep may have several guaranteed sales through social media referrals. Therefore, the sales representatives will be looking forward to creating healthy relationships with satisfied customers who in turn become brand ambassadors for their products.
3) Big Data and analytics
Most sales representatives are using big data to analyze the buying patterns of clients to understand their preferences. Additionally, it has helped business owners in identifying their potential customers and accurately predicting leads that are highly likely to become clients. Big data might take an upward trend where the digital universe will have produced about 44 zettabytes of data by 2020.The increased use of big data in sales has seen most companies include it in medical sales training courses for maximum productivity of their teams and prediction of activities that may reduce or increase their sales.
4) Over Reliance on the Salesforce Automation System
A few years ago, sales organizations used more than 70% of their time and resources in planning their processes. However, the introduction of the Salesforce solutions that automated many activities in the businesses such as scheduling appointments and sending emails allowed the sales teams to focus on the activities that lead to a sales increment. Automation will continue in most companies leading to increased yields and sales.
The rate of technological advancements and adoption in the last one decade is higher than what we have had in the last one century. The trend will take the upward trend in future, where the likelihood of having robots pick your children from school is also high. The sales reps should also be quick to adopt the changes if they intend to maintain their relevance and increase their sales.