For today’s GTM teams, staying ahead of the curve necessitates a deep understanding of emerging trends and technologies. As I reflect back over this year, data, artificial intelligence (AI), automation, and integration were at the forefront of trends shaping the future of Sales and Marketing. Let's dive into these four key takeaways and how together they can drive business success.
A Data-Driven Approach to Sales
Data is the new oil was a sentiment echoed across 2023. Modern sales strategies are increasingly reliant on data to motivate teams, predict buying behaviors, tailor personalized experiences, accurately forecast deals, and identify customer needs. Whether using data to develop more fair and accurate quotas, extract information, level up your coaching, accelerate transformation, or design your revenue model, it is apparent data is at the center of it all.
The importance of a data-driven approach to sales was emphasized earlier this year at Dreamforce, during Xactly’s session “The Science of Sales Motivation — Tips from Universities,” which highlighted the importance of data in quota setting, rep retention, and overall sales motivation.
The AI Revolution
AI is no longer a futuristic concept; it's here, and it's revolutionizing sales performance management. Said best at the OpsStars 2023 event Xactly took part in this year, “If a SaaS company doesn’t have AI in their description in 2023, does it even exist?” 😆
During Xactly’s session at that event, “Growth at Any Cost" Is a Path to Failure. You Need Quality Revenue—Here's How,” we covered the new corporate goals of combining revenue growth with profitability that are upending business as usual across multiple industries. Also how the power of AI, when enabled with a deep pay and performance database, can do more than just write content. Now, innovative AI tools can help GTM teams identify and prioritize high-quality deals—significantly improving their chances of closing a deal.
Work Smarter, Not Harder through Automation
With all businesses operating with a “do more with less” mindset, automation saves the day by enabling businesses to streamline their processes and improve efficiency. At the World at Work’s Sales Comp 23’ event earlier this year, sales compensation experts at Workiva and Xactly sat down for a fireside chat and discussed the benefits they’ve witnessed in automation for sales, including increased productivity, reduced errors, lower rep turnover, and improved sales forecasting accuracy.
The Power of Integration
It’s clear that as businesses continue to grapple with an array of tools and technologies, the importance of seamless integration cannot be overstated. During Xactly’s fireside chat with Workiva, the compensation experts emphasized how integrating data from various sources into a unified system contributes to a holistic understanding of customer behavior. This comprehensive view allows sales reps to strategize and tailor their approach more effectively, leading to improved results. It also allows sales and revenue leaders to forecast commissions and sales wins with better accuracy. But really, it’s not just about integrating systems, but also about integrating people and processes. That’s always a key takeaway, no matter what year we are in.
