Kickstart your 2023 by understanding the top trends in sales that will increase revenue and drive business growth. Trends like social selling are continuously evolving, with social media advertising expected to grow by 18.1% every year till 2026, highlighted by International Trade Administration. This article will look at the top 2023 sales trends you should be aware of to drive your sales and grow your business.
Top trends in sales
To make sure your business has a successful 2023, be in the know with:
Automation
AI
Social selling
Chatbots
CRM software
Sales Automation
Automation software is introduced into businesses to streamline tasks at work and help a business become more efficient. This software will allow businesses to automate tasks that would have usually had to be done manually by a team member, e.g., assigning leads. Automation software will bring businesses many benefits such as:
Increased efficiency
Increased productivity
Increased team morale
Reduce human error
Key sales automation trends and statistics:
The global automation software market is expected to grow from $4.93 billion to $11.25 billion between 2023-2031, as shared by Globe Newswire
65% of small companies report that they have success with automation software, shared by McKinsey & Company
On average, 51% of companies are using automation software with more than half of B2B companies planning to adopt it, highlighted by Findstack
The most commonly deployed automation is business process automation and robotics process automation, shared by McKinsey & Company.
AI in sales
AI in sales is the use of artificial intelligence to give sales representatives access to advanced algorithms and analytical tools to identify new opportunities. A sales team that uses AI can remove the need for manual data entry, automatically update data and improve your predictive forecasting to boost productivity and efficiency. Key AI trends and statistics that can benefit your sales:
By 2024 the AI market is forecasted to reach a size of over half a trillion U.S. dollars, highlighted by Statista.
85% of companies that adopt AI experience significant economic benefits, shared by Deloitte.
In 2022, 35% of companies have reported using AI while 42% are exploring the possibility of adoption, up four points from 2021 and expected to keep growing, highlighted by Watson.
In a study by Harvard Business Review, the business that implemented AI boosted leads and engagement by 50%
Social selling in sales
Social selling has become a prominent factor of sales for businesses as social media has grown in popularity and is continuing to do so. Heuritech found with a survey that other than staying in touch with friends a family, people use social media to find products to purchase and see content from their favourite brands.
Social media usage is expected to rise from 4.89 billion users to 5.17 billion users between 2023 to 2024, as shared by Statista
Social media ad spend is expected to surpass the 200-billion-dollar mark by 2024, as highlighted by Statista
Customers are six times more likely to make a purchase from a product page that has a picture of the product, underlined by SproutSocial
Strategizing your 2023 to have an effective social selling process will give your business:
Increased sales
Increased revenue
Better brand image
Long-term customer relationships
Increased growth
Chatbots in sales
Many businesses are now using chatbots to help with customer service as it is an efficient way of trying to solve a query without human intervention. A chatbot is a software application used by businesses to simulate a customer service agent to assist customers with any queries they may have. Why you should consider investing in Chatbots:
62% of customers prefer interacting with chatbots as rather than a human customer service agent, shared by TIDIO.
65% of consumers feel comfortable when a chatbot is assisting them with their query, highlighted by ChatBot
By 2027, the Chatbot market is forecasted to amount to $45.8 billion dollars, up $40.9 billion dollars from 2018, as provided by Statista
Businesses can spend over $1.3 trillion per year to address customer requests, while chatbots are about to reduce these support costs by 30%, as stated by ChatBot.
CRM software in sales
CRM software is used by businesses to help streamline management with increased data visibility and streamlining different tasks. This software will help you manage the relationship you have with customers while recording client data for your business. Some game-changing statistics and trends to be aware of:
The CRM application market size is expected to reach $58.8 billion by 2026, from $52.8 billion in 2021, shared by Apps That Run The World
CRM software can boost your sales by 29% and your productivity by 34%, shared by Shift4Shop
The return on investment (ROI) when implementing CRM software properly can be higher than 245%, shared by Tech.co
91% of companies with ten or more employees use a CRM software, underlined by Zippia
Why these trends matter
These trends and statistics highlight that more and more businesses are adopting these technologies. From CRM software to chatbots, businesses are embracing new technologies due to the wide range of benefits they provide. It has now become a necessity for businesses to adopt these technologies to remain competitive.
Kickstart your 2023 with TEB
If you are interested in driving your sales, boosting your revenue, and growing your business, then TEB is the sales automation CRM software for you. TEB will streamline your entire sales process while improving your data visibility to help your business grow and reach its true potential. TEB does this by:
Kanban-style pipeline management – Streamline the management of your sales pipelines with easy drag-and-drop management to increase your efficiency.
Generate 250+ reports – Increase your data visibility by generating reports on different areas of your business. E.g., customer reports, sales representative reports and more.
Align marketing and sales – Share information between the marketing and sales departments to increase your alignment, improving social selling and generating leads.
View customer storyboard – View your customer’s buyer journey in the view of a storyboard to get a good understanding of your target market to increase your sales.
Book a quick demo with us to stay ahead of the latest trends, boost your revenue and drive your growth.
Find out why investing in BPA (Business Process Automation) is a necessity and how to get started with our complete guide to Business Process Automation.
