In our recent Q and A with our Sales Transformation Subject Matter Expert, we recognised how COVID–19 has impacted B2B sales and traditional business models. Large scale or small step digital transformation journeys are going to be a top priority for many leaders as businesses reset.
There will be many trends, key impacts, and opportunities facing businesses in 2021 and beyond. Below, we have outlined what we feel are the three key priorities for business leaders.
1) The rise of XaaS business models is a big trend in Tech/Digital organisations
“Anything as a service” (XaaS) is the general term for services related to cloud computing and remote access. From hardware and software, to data and analytics there is a trend that XaaS models are becoming the norm in b2b sales.
Firstly, preference to XaaS models isn’t a single path – it can take organisation’s years to make the transition from their traditional offerings to promote their XaaS models. Secondly, companies tend to drop into this digital transition part way through the process. However, companies that fail to embrace the uptake to XaaS face lagging behind competitors.
2) Outcome-based selling is fast becoming the new normal
A b2b sales team needs support to successfully shift to this more consultative way of selling. Recalibrating to this technique requires investment in your people. Businesses need to help their sales team embrace the change in mindset, behaviours and beliefs needed to land this well. The reward? A team that will approach all of their customer engagements with a razor-sharp outcome-based focus. The customer is 100% the focus – particularly in an ever-growing digital age where a competitor choice is but a click away.
Outcome-based customer engagement should start with what the business outcomes are for the client. The products and services you sell should be tailored to meet that need – especially when XaaS is being used more and more. Diversifying your offering and equipping your sales team with skills and tools needed to serve a more demanding digital savvy client is crucial for a sustainable future.
3) The transformation of Digital Sales
The goalpost has moved a lot in terms of digital sales, and COVID-19 has had a huge part to play in that. The pandemic has forced businesses to step back and really examine their sales methodologies. Before 2020, companies would make sure they had web presence, telephone sales, inside sales, f2f sales … and that worked great. But COVID-19 moved the goalposts and the pitch too! Companies have been forced to adopt new behaviours and mindsets when selling their XaaS solutions.
The transformation of digital sales isn’t going to happen overnight. However, it is inevitable for many businesses if they want to keep a competitive edge. The winners will be those who equip their workforce with right tools and skills needed to excel in the new normal.