It’s not just matching work that has become a new norm in the post-pandemic world. Just as workers require flexible hybrid work opportunities, 86% of consumers prefer to purchase through combined sales channels, such as TechRepublic reported in July 2022.
Recently Sales status survey by Showpad – a sales enablement technology company – shows how important cross-selling has become for businesses. Organizations that are not equipped with the right tools, technology, and resources, are losing $1.6 million in annual revenue due to poor digital sales implementation. Additionally, the seller, also poorly equipped, loses almost $210,000 in annual commissions.
Gartner revealed during the pandemic that 60% of CSOs expect their sales force to remain mostly operational. Virtual selling options are noted not only for their appeal to consumers but also for their potential to cut costs, open new sales channels, and reach new audiences. 70% of CSOs told Gartner they have updated their seller skills profiles to adapt to modern selling, and 61% have started investing in new technologies.
Hendrik Isebaert, CEO of Showpad, spoke to TechRepublic to shed some light on the pressing issues of cross-selling and why it’s a trend here.
“We live in a hybrid world that is already widely accepted,” says Isebaert. He added that since hybrid models accelerated the pandemic, the scale and magnitude of the hybrid landscape has grown exponentially. “Along with the wide range of technologies available to support it, its features and functions are limitless, and in the B2B context, hybrid selling offers an always-on or asynchronous approach that can This means organizations never need to stop selling, ultimately driving revenue-generating opportunities,” Isebaert explains.
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The benefits of semi-coalesce
The Showpad survey found that 79% of sellers have a clear understanding of selling digital first, and 74% say their company has a standardized system in place. However, only 37% believe that their sales team is fully integrated selling digital. According to the research, 43% of sellers say that digital-first sales are “a buyer’s compulsive expectation” and 30% say it is “the difference to win” in their respective industries. their.
Semi-combined, as opposed to traditional brick and mortar, is not subject to site restrictions. Buyers and sellers no longer have to be in the same place. “This means you can hire the best salespeople, wherever they are in the world, and target the most promising customers, regardless of location,” says Isebaert.
Lowering the barrier of proximity between buyers and sellers, hybrid selling can increase productivity, reach, and give organizations the ability to work easily around customer availability. Isebaert explains: “A traditional strategy can create holes in a business — whereas a strong hybrid approach tends to be universal and connected to the sales mindset. of it,” Isebaert explained.
Technology, resources, and tools are necessary for successful hybrid sales. But it’s not just about buying the right hardware, software, platforms, and services. Skills and training of workers and sellers as well as connecting sales channels are also essential. It is important for companies to understand their sales cycle, where face-to-face offers the greatest value and its impact on buyers, and where virtual interaction is sufficient or preferable.
Augmented reality, sales enablement platform, virtual demonstration and social media
The McKinsey The B2B impulse survey signaled in early 2021 that multichannel in B2B was a reality rather than a future novelty. Customers want it all, says McKinsey, when given the choice between in-person, remote, and e-commerce. Eight in ten B2B decision-makers say that omnichannel is more effective than traditional methods.
“As retail experiences become e-tail experiences and generations of in-person customers become online consumers, the demand for enhanced online product experiences has increased at pace,” said Isebaert. . New technologies such as augmented reality have matured and are now being used by leading hybrid sellers in their direct-to-consumer sales channels.
Showpad concludes that social media, augmented reality, and modern sales enablement platforms are technologies that can transform the selling experience. “Augmented reality selling experiences have driven a fundamental shift in B2B sales,” says Isebaert. He ensures that businesses should start engaging in these approaches to lead and future-proof the B2B sales experience while delivering enhanced customer journeys.
Sales enablement platforms — solutions that bring people and technology together throughout the sales cycle — are being used to optimize hybrid sales innovation. With the right supporting infrastructure, merchants can enhance revenue generation through virtual transaction rooms, creating greater opportunities for buyer-seller collaboration, providing analytics and intelligence. insights into your customers’ needs and ultimately streamline the sales journey — speeding up the closing process. Based on Market and Marketsome of the leading sales support platform providers are SAP, Bigtincan, Upland Software, Highspot, Seismic, Showpad, ClientPoint, Pitcher, and Qstream.
Companies are also using virtual product demos to provide a more engaging and personalized experience for buyers. And internally, virtual product demos are used to accelerate and enhance the training of sales reps by providing an effective way to familiarize new hires with products and services. of the company.
To maximize reach, companies that excel in sales incorporate social media platforms. These social channels work better than professional networks or corporate websites. The Showpad survey said Facebook was the most frequently used platform for business purchases with 69%, followed by Instagram with 57%, YouTube with 48% and LinkedIn with 29%.
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Gaps and deficits hold back hybrid sales
While 71% of sellers believe their organization is investing enough in technology to support the sales team, 53% of sales reps say they could use more training in digital sales and 20% have little or no training.
Half of the sellers surveyed say they need better technology and platforms, and 44% say they need a sales or revenue support platform. According to Showpad, this means sellers see value in digital tools and tactics, but organizations haven’t prioritized it, significantly impacting bottom line.
“Semi-breeding is sometimes considered an indefinite quantity, which can cause fear or reservations. When distilled, however, it is simply the next wave of B2B sales growth,” said Isebaert.
Isebaert believes that hybrid B2B will be mainstream in the next 5 years and companies should question whether they will accept it now or late to the show. According to Showpad, businesses that use digital sales have increased revenue by an average of 35%.
“It’s the same problem with the digital revolution 25 years ago when companies asked themselves: Should we have a website? Or seven years ago when companies asked: Should we use social media? ‘ said Isebaert.
