Global State Of Sales 2023-2024

Dec 5, 2023

Daniel Hale

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    Hubspot surveyed 1,477 sales professionals across the globe to find out what they’re hyperfocused on – and get a better understanding of how AI will affect their roles as we move into 2024.

    Here are some of the points we found interesting:

    AI’s Impact on Sales:

    • AI is fundamentally changing sales dynamics.
    • Buyers increasingly rely on AI for information, reducing dependence on sales professionals.
    • Sales reps shift focus to building relationships and providing personalized experiences.

    Sales Benchmarks:

    • Average sales win rate: 21%, close rate: 29%.
    • Median deal size: $4,000, with 47% falling between $1-$5,000.
    • Upselling and cross-selling tactics drive 21% of company revenue.

    Challenges and Goals:

    • 54% of salespeople find selling harder in 2023.
    • Challenges include inflation, supply chain issues, and a lack of high-quality leads.
    • Top goals: exceeding quotas, improving efficiency, targeting new markets.

    AI Boosts Sales Performance:

    • 66% believe AI can enhance personalized customer experiences.
    • 63% think AI aids in competing with other businesses.
    • AI usage is linked to improved upselling, cross-selling, and emotional response recognition.

    Focus on Efficiency:

    • 2023 is labelled the year of efficiency.
    • AI saves salespeople an average of two hours per day.
    • Sales professionals looking to trim tech stacks for increased efficiency.

    Hybrid Work and Sales Channels:

    • 71% of U.S. sales pros work hybrid.
    • In-person meetings remain crucial.
    • Effective sales channels include in-person meetings, phone calls, email, social media, video calls, and live chat tools.

    Self-Service Tools and Sales Enablement:

    • 64% of B2B sales pros offer self-service tools, enhancing buyer decision-making.
    • Sales enablement content usage is up 48%, with 79% deeming it important.
    • Salespeople using sales enablement content are 58% more likely to outperform.

    Smarketing and Customer Focus:

    • 30% say sales and marketing teams are strongly aligned.
    • Aligned teams are 107% more likely to beat goals.
    • Existing customers contribute to 72% of company revenue.

    Sales Professionals’ Focus Areas:

    • Virtual selling, social selling, enablement content, and sales processes efficiency are top focus areas.
    • Productivity tracking gains priority over profit margin as a key metric.

    Traits of High-Performing Salespeople:

    • High performers are more likely to prioritize sales/marketing alignment and CRM importance.
    • Analysis of data for process optimization, social media usage, and dedicated sales enablement teams contribute to high performance.

    Rising Trends:

    • Social selling is on the rise, with 56% already using social media for prospecting.
    • Social commerce gaining prominence, especially in B2C.
    • Customer-centric traits are crucial for high-performing salespeople.

     

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