In a recent survey, 69% of corporate board members said their company accelerated digital business initiatives because of COVID. The world of B2B buying and selling is no different. The challenges brought forth by COVID hastened the digital transformation that was already well underway.
As we navigate toward the “next normal” we find ourselves in an environment wrought with challenges and uncertainty but one where there is no cap on innovation.
Today the selling environment is dramatically different from what it was just two years ago. With Millennials now making up half the global workforce the demographics of both buyers and sellers has shifted. Although buyers are digitally savvy and self-directed when they initiate an evaluation, they bring many more stakeholders into the purchase decision, and they require many more personalized touch points before they do the deal.
These and other factors are forcing sales organizations to change how they go to market. Sellers must shift from experience and intuition-based selling to insights-driven approaches; first- and second-line sales managers must rely on data to inform their coaching actions, and revenue operations practitioners must lean into quantitative rather than ad hoc and qualitative forecasting methods.
All of this begs the question — how is our category, as a whole, shifting to accommodate these changes?