The consumer has evolved as rapidly as technology. The younger generations have smart devices, touch screens, mobile phones and tablets. In a world dominated by technology and automation, sales teams must constantly evolve to remain competitive. In this sense, artificial intelligence has become a tool of great importance for sales, as it enables efficient data processing and informed decision-making, resulting in improved efficiency and quality of customer service. However, artificial intelligence is just another component available to sales teams to optimize their operations.
Aiming to examine the current state of the industry and analyze its opportunities and challenges, HubSpot conducted a study of 1,000 sales professionals from Spain and Latin America, mostly from large companies.
The study shows that Building lasting relationships with prospects and customers is a priority for companies, as indicated by 76% of respondents. However, despite the importance of reaching out to the customer, only 34% of sales professionals leverage tools and develop personalization strategies in their outreach tactics. To solve this problem, More than half (56%) of companies in the Spain & Latin America region have invested in artificial intelligence for sales.
In fact, 70% of these professionals believe that acquiring this new technology could have a significant impact on their team’s productivity, while 66% say they are concerned their sales methods will become less effective over time. Undoubtedly, companies need to balance these factors of production – labor and technology – to maintain an appropriate work environment that fosters a sense of belonging to the company.
Technology and artificial intelligence are key factors in this development
Artificial intelligence is no longer just around the corner, it is reality and will remain so. And while there is still room for improvement in many aspects, the truth is starting to change the way you work in sales. Among salespeople whose companies have invested in artificial intelligence, the majority (84%) believe it is very important to their day-to-day activities. In fact, the data backs it up: over 79% say they are making more or even more sales with AI tools than before.
AI has also proven to be very efficient when it comes to building more effective relationships with prospects and attracting better qualified leads to complete a sales process. In terms of the direct impact on sales, the use of AI has proven to be very efficient according to 79% of professionals. Saving time is one of the aspects that improve the efficiency of teams. About it, 46% of respondents said they saved 1-3 hours a day thanks to AI; 29% even more, from 3 to 6 hours a day. And 14% said they saved more than six hours a day, or three-quarters of an 8-hour workday. For this reason it is not surprising that
63% of sales professionals say their company is planning to invest in AI tools or will continue to do so.
challenges and opportunities
The main issues businesses are currently facing include the increase in spending (8%), the difficulty in finding potential customers and the increase in the cost of reaching them, each by 7%. Therefore, 37% of sales professionals said their company is currently struggling to sell. In this regard, 76% of sales professionals agree that building personal and human relationships is the most important aspect of a successful sales process. In today’s environment, for economic reasons, companies expect salespeople to do more with fewer resources. To achieve their goals, employees rely on technologies such as CRMs, data analytics and sales forecasting software, cloud telephony, and chatbots. In general, professionals are optimistic about the adoption and use of technology in their sales process, and a majority (74%) are willing to lead other people in the sales force.
The changes introduced not only by AI but also by the algorithms used in data mining or the ability of CRMs to aggregate large amounts of information and turn it into reports and strategies have created a new paradigm. A phase where technology has started to have more and more weight in human decisions. The results of this study reinforce the notion that AI has advanced rapidly and transformed the way sales teams work.
The use in sales processes is therefore a reality. Nowadays companies are looking for better ways to optimize their profits and implementing AI in the acquisition, sales and customer service processes is one of them. According to the results of the study, the sales situation in 2023 points to a greater use of technology and the integration of agents and artificial intelligence.
