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W-INSIGHTS / 2023: Priorities for sales and marketing leaders

2023: Priorities for sales and marketing leaders

Sales and marketing leaders are aware that 2023 is likely to be a challenging year, but with proper preparation, success can be achieved with greater ease.

The sales landscape has undergone rapid changes in recent years, fueled by the rise of artificial intelligence, the growing importance of personalized customer journeys, social selling, and other transformative developments. Concurrently, your customers' needs, wants, and pain points are evolving. Failure to keep pace with these shifts can leave your competitors with a distinct advantage.

To provide a helpful overview, we've compiled a list of 6 trends that are expected to emerge this year: the RevOps Model, Technology in Sales and Marketing, Artificial Intelligence, Customer Retention, and Social Selling. Nonetheless, it's important for you to identify your team's strengths and determine a clear focus. Attempting to do too much can lead to mediocre results and undermine your overall success.

Executives INSIGHTS / Leadership Circle Sales & Marketing

Hansjörg Buchser, Managing Director, Lead Technology Practice Switzerland, Accenture
Companies that leverage the orchestrated interplay between data, technology and people in sales will be more successful. Companies have a vast amount of valuable internal data, which, when combined with freely accessible external information, creates usable raw data material. Modern technologies such as crawling, mining and artificial intelligence ensure the refinement and preparation of data for sales. Purchase-critical questions such as "who needs what and when" can thus be predicted in a more targeted and proactive manner. A decisive factor is still the human being: purchases are very rarely made purely analytically and fact-based. Sales people who create the appropriate emotions at the right time, in the right situation, will contribute more sustainably and successfully to the company's success with the help of data.

Peter Zuber, Chief Executive Officer at SwissQ Consulting
Because of Covid, the number of virtual touchpoints with clients and prospects has increased. Companies present their expertise on social media, invite clients to download white papers or organize virtual events. Overall, this has increased the quantity of data collected. With the help of automation and approaches such as lead scoring, a personalized customer journey can be guaranteed based on large amounts of data. The customer is addressed and advised at the right moment on topics that are currently relevant to him.

Andreas Punter, CMO, Chief Marketing Officer, Adnovum
Tech in Sales Marketing:
It is important to use technologies in a targeted way (strategy first), not to use different technologies in an unstructured way and in silos (the key is integration) and to have the competence to deal with these tools in-house and not only to rely on external partners.

Data and artificial intelligence for reliable sales forecasts:
Part of the solution for incomplete and outdated data is focus. Focus on a clearly defined target group (ICP; Ideal Customer Profile) and maintain this data consistently instead of building up a huge, far too broad data pool. Reporting and evaluations must be used to make decisions and adjust the approach; generating data alone is not enough.

Social selling in 2023 a must!
Individuals usually have a higher organic reach (unpaid) on social media and a higher trust and credibility. Therefore, it is important that companies not only focus on their company profiles, but also enable / support their employees (e.g. customer-facing, experts, C-level) or, depending on the role, persist in maintaining their personal brand on social media.

Lisa-Ann Preus, Founder & Managing Partner, LA Click
As customer journeys become more and more complex, digital transformation in marketing is crucial to reach the right target group at the right moment with the right message. This includes data-driven optimisation on the one hand and the extensive automation of cross-channel marketing activities on the other.

German Ramirez, Co-founder, THE RELEVANCE HOUSE
No silo thinking
A successful customer experience strategy is only sustainable if the entire organisation aligns itself with the customer experience and not with the internal value chain. In doing so, it basically goes beyond silo thinking. It is more profound. I can't call myself customer-centric if my organization is structured along my value chain.

Social Selling / Personal Branding/ Human2 Human
Social selling done right is so efficient and successful, it's almost like cheating. However, most companies go about it the wrong way. The company's employees should be at the center of the activities. Especially in B2B, H2H (human to human) applies. And of course, it's about authentic relationship building, not blunt selling.

Personal branding and thought leadership are crucial for any leader.
In the digital age, every stakeholder expects transparency, authenticity, openness and, in a sense, access. And it's not just about CXOs. Everyone is a brand, whether we realize it or not. Using this strategically, purposefully, methodically and, above all, knowingly is a magic bullet, especially in B2B sales.

1. Moving away from silos to the Revenue Operations Model

According to Gartner1, by 2025, 75% of the world's fastest-growing companies will be using the Revenue Operations Model.

But what exactly is the RevOps Model? It involves breaking down the traditional silos between departments and adopting a customer-centric approach that aligns all functions around the flow of revenue. This means that customer information is shared across teams, and there is a single source of truth for all stakeholders.

Implementing the RevOps Model can help accelerate processes and create personalized customer journeys, a key factor in today's market. In fact, 80%2 of buyers are more likely to do business with companies that offer a personalized experience.

By bringing Sales and Marketing together through "SMarketing," companies can leverage the strengths of each team and drive revenue growth. In fact, companies that successfully integrate Sales and Marketing have seen revenue increases of up to 209%1.

While many companies already leverage information across multiple teams, the 2022 CMO Survey3 found that only 39.1% of them effectively integrate this information. This highlights the need for organizations to adopt the RevOps Model and create a unified approach to revenue generation.

2. Tech in Sales and Marketing

In 2023, automation can be your superpower when it comes to managing customer information and interactions. By automating processes, you can respond and add value in real-time to multiple buyers who have different needs, making your business more efficient and effective. Furthermore, using software solutions in sales and marketing can also increase creativity in teams by freeing up time previously spent on routine tasks. This allows for more time and energy to be dedicated to brainstorming creative ways to sell your products. For example, sales videos are a trend in 2023 that your sales team can implement to great effect. Companies that have introduced video into their sales process have been able to cut their sales cycle in half4.

Despite the many benefits of automation, some teams may still be holding back. The 2022 CMO Survey3 found that only 54.1% of marketing teams have the knowledge and experience necessary to effectively use the systems and tools available. However, by investing in training and education for your team, you can unlock the full potential of automation and make it a valuable asset for your business.

3. Big Data and artificial intelligence for reliable sales forecasts

However, the challenge of efficient and effective use of tools and software is not just limited to the skills of your teams. According to the LinkedIn Global State of Sales Report⁵, incomplete data is the biggest challenge for almost half (46%) of salespeople. Moreover, only 30% of sales leaders surveyed by Korn Ferry2 believe that their companies have a clear data strategy. Without a clear data strategy and complete data, it can be difficult to leverage data quickly and react to the market environment, which can result in a lost competitive advantage.

Fortunately, in 2023, data analysis is becoming easier, more accurate, and significantly less time-consuming thanks to the widespread adoption of artificial intelligence in sales analytics. AI-powered sales forecasting software can deliver greater accuracy and help mitigate risks. However, many companies still struggle with incomplete or poorly stored data, which can hinder their ability to leverage AI-powered analytics. Therefore, having a clear data strategy and a system for data storage and management will be crucial in gaining a competitive edge in 2023.

4. Customer expansion becomes increasingly important

In today's highly competitive market, retaining customers is more important than ever. By focusing on customer retention, cross-selling, and upselling, B2B businesses can increase their revenue and profitability in a cost-effective manner. As the economy remains uncertain, resource-intensive customer acquisition will take a back seat in 2023 as businesses double down on their existing customer base.

One highly effective strategy for maximizing the value of existing customers is account-based marketing. By identifying the highest-value customers and creating personalized communication and campaigns, businesses can encourage additional purchases and strengthen relationships. This approach enables sales teams to bundle products and services, thereby boosting return on investment and creating more value for customers.

To execute an effective account-based marketing strategy, businesses must have a deep understanding of their customers and their needs. This requires collecting and analyzing data, as well as developing customized content and campaigns that resonate with each customer segment. By leveraging technology and automation, businesses can streamline these processes and make them more efficient, freeing up resources to focus on delivering exceptional customer experiences.

5. Social selling is a must in 2023!

In 2023, the human touch will be more important than ever in sales and marketing, despite the increased automation opportunities available. Social selling, in particular, will become essential for companies looking to remain competitive. While having a company profile on social media is a start, it's crucial to have a well-planned and executed social selling strategy to avoid causing more harm than good to your sales.

The best way to approach social selling is to avoid the hard sell and instead focus on planting the idea of your product or service in the minds of potential customers. By answering their questions and showcasing your expertise, you can position your business as the go-to solution for their needs.

In 2023, one of the biggest social selling trends will be the development of personal brands. CEOs, managers, and other representatives of your company should position themselves as experts on social media platforms, especially LinkedIn. By capturing the attention of your target audience, gaining their trust, and organically drawing their attention to your offering, you can establish a strong personal brand that adds value to your company's overall brand.

The bottom line is that 2023 can only be a successful year if your teams have the right skills!

In 2023, the key to successful sales initiatives is the combination of technology and customer-centricity. With an uncertain economic environment, sales decisions must be based on data-driven insights. To achieve this, your team must develop a habit of regularly updating CRM systems and producing sales reports to identify opportunities and avoid wasting time and resources.

As the majority of B2B buyers are tech-savvy millennials and Gen Z, it's essential to redefine the role of the sales rep to align with the digital customer journey. Sales reps must develop appropriate technical skills and provide a more consultative approach to understand the unique challenges of each customer's business and offer solutions that deliver desired outcomes.

In addition, coaching and employee development should focus on developing soft skills such as communication, empathy, and problem-solving to meet the evolving expectations of buyers. By prioritizing both technical and soft skills, sales teams can create a more personalized and engaging customer experience, which can lead to improved customer retention and revenue growth.

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