If the last two years have taught us anything, it's the importance of staying agile. The same is true in sales.
As a sales leader, part of staying agile is recognizing the trends unfolding around you and pushing your team ahead of the curve. HubSpot's 2022 Sales Strategy & Trends Report takes a closer look at these trends and how sales leaders can leverage them.
Read on to discover the five areas sales leaders are prioritizing in 2022 and beyond.
What Sales Leaders are Focused On In 2022 & Beyond
- Prioritizing upselling and cross-selling over winning new clients.
- Motivating their salespeople the right way.
- Winning more market share.
- Building a healthy sales culture from the ground up.
- Aligning marketing and sales efforts.
1. Prioritizing upselling and cross-selling over winning new clients.
It's a well-known fact in business: selling to existing customers is easier than converting new ones. Sales in 2022 is no different. In fact, more than a quarter of sales professionals say existing customers took priority over finding new ones this year.
How are they prioritizing existing customers? Primarily through upselling and cross-selling — and the results are intriguing. 72% of salespeople who upsell and 74% who cross-sell say that it drives up to 30% of their revenue.
An important factor in upselling and cross-selling is getting your timing right. For example, pitching additional products during the initial discovery call isn't the best approach. Instead, sales professionals say the optimal time is after successfully meeting your client's goals, followed by when you identify an issue that your product or service can solve.
2. Motivating their salespeople the right way.
It's easy to believe that money is the ultimate motivator — and it may be for some — but that's not always the case.
HubSpot's 2022 Sales Strategy Report asked sales leaders how they keep their teams motivated. Compensation didn't come in first place — or even second. It landed in third, tied with "recognition for achievements."
Although people are motivated for different reasons, leaders can add fuel to the fire by setting clear goals and expectations, fostering trust between reps and leadership/management, and offering recognition for individual and team achievements.
3. Winning more market share.
Winning market share is critical for keeping a competitive edge. It's also a top goal for sales leaders in 2022. Here's a snapshot of how sales leaders are planning to get there:
Shifting to sales enablement.
A whopping 88% of sales professionals who use sales enablement content say it's moderately to extremely important to making a sale. Further, salespeople at businesses with a dedicated sales enablement team perform 11% better than those at companies that don’t.
When it comes to helping salespeople secure deals, product demos, customer testimonials, reviews, market research, and social media content are most effective. Take a look:
Leveraging free trials and freemium models.
Free trials, freemium models, and free consultations are effective for sales professionals looking to convert new customers. For example, 76% of sales professionals say free trials are effective at turning prospects into paying customers.
Along with free offerings, giving discounts and running promotions are also highly effective.
4. Building a healthy sales culture from the ground up.
In sales, one thing never goes out of style, and that's having a healthy sales culture. It influences how much your salespeople sell, how productive they are, and how long they stay with your company. Yet, 43% of salespeople feel their work environment is toxic.
In HubSpot's Sales Strategy Report, sales professionals were asked what negatively impacts their ability to succeed — and the answers may surprise you.
Unsurprisingly, high turnover and toxic competition can pollute your sales culture, affecting everyone on your team. But perhaps less surprising is sales reps' desire for more feedback.
As a sales leader, setting up your team for success is paramount, which includes providing feedback, ongoing coaching, and training opportunities. This is especially important for new (or junior-level) employees who need to start on a solid foot.
5. Aligning marketing and sales efforts.
According to 45% of sales professionals, aligning marketing and sales became more critical in 2022. That said, only 23% say these two teams are "very aligned" at their company.
Of course, increasing collaboration between sales in marketing is no small feat — but it's worth the time and effort. Salespeople at companies with aligned teams perform better. On top of that, 26% of salespeople report strong lead quality, and 28% say it improves the customer experience.
An easy way to align these two teams is with your trust CRM. In fact, a staggering 79% of sales professionals say a CRM is moderately to extremely effective at improving sales/marketing alignment.
Back to You
It's easier to stay agile when you know what's ahead. So, as we inch closer to 2023, it's the perfect time to revisit the past year, pinpoint areas of improvement in your sales strategy, and identify any emerging trends and shifts.