Sales Staff: Due To A Lack Of Digitization, Companies Lose A Lot Of Sales
Digitization : According to a new study by Showpad, 90 percent of salespeople believe they are missing out on commissions because their company is resisting a digital sales infrastructure.
- According to a new study by Showpad, nine out of ten sales employees in companies say they are missing out on commissions because their employer is opposed to a digital sales infrastructure. The loss adds up to EUR 115,000 per seller and year.
- Nearly 40 percent of sales reps say they lack the necessary technology. And this is even though companies are investing millions in digitization sales.
- On average, the lack of digital distribution infrastructure costs companies six figures every year. On average, sales employees state an annual loss of sales for their employers of EUR 840,000.
Eighty-one percent of salespeople state that deficits in digitising their employer’s sales tools and infrastructure lead to annual sales losses. This results from a new survey of 509 sales employees. This was conducted by Showpad, a sales enablement technology provider, for the “State of Selling” study. While a lack of digital sales infrastructure costs companies six figures yearly, three percent of the sales representatives surveyed say that this deficit costs their company more than ten million euros in lost sales yearly.
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A Lack Of Digitization Costs Sales Staff Commissions
Eighty-five percent of salespeople say their company’s failure to adopt the latest digital selling methods costs them significant commissions or rewards. And that amounts to an average of EUR 115,000 per sales employee and year. The rapid transformation of B2B sales through technology is seen on both the buyer and seller sides. This is shown by accompanying research by Showpad. It found that 88 percent of shoppers now prefer to shop through virtual channels and forgo traditional face-to-face sales calls. It is all the more important for the employees responsible for sales to use the latest digital sales techniques.
Lack Of Implementation Of A “Digital-First Sales Approach”
Three-quarters of sellers (77 percent) say they have a clear understanding of digitization selling. But only 19 percent state that their company fully embraces this approach. With 43 percent of sales employees seeing a “digital-first sales approach” as a differentiating competitive advantage and 22 percent as a “must-have,” 66% of sales teams favour this path.
When asked what their company should do more to support digital distribution channels, 39 percent answered, “providing better technologies and platforms.” On the other hand, 36 percent of those surveyed are in favour of using a sales or sales enablement platform. In addition, 17 percent would like better coaching and further training for sales employees.
Sales Reps See The Importance Of Social Media In B2B Sales
The use of digital technologies as part of the B2B sales process already ensures significant increases in sales for companies. Ninety-three percent of salespeople say digital sales technologies have increased sales over the past year — by an average of 24.4 percent. However, 66 percent say they “could have more training” or “don’t have enough” in digital selling.
Hybrid And Digital Sales Technologies Are Of Great Importance
“Well over a third of salespeople say they are not equipped with the tools they need to be successful. And this results in significant financial losses – for them – and their employer”. “Hybrid and digital sales technologies are fundamental.
To meet customers where they are and create tailored experiences that match their preferences. Research shows that this new approach to buyer engagement has increased sales revenue by nearly 25 percent. Amid a general climate of business uncertainty, now is the time to seize all revenue-generating opportunities.
Rapid deployment of the tools and infrastructure will support the financial position for the foreseeable future.”
Showpad offers teams a modern sales enablement solution to deliver rich digital insights and maximise hybrid sales. The company commissioned the State of Selling study to understand better current attitudes towards B2B selling in today’s remote hybrid work environment.