Changes in selling in 2024
That being said, it's expected that the selling landscape will continue to evolve in
2024 as technology continues to advance and consumer behavior changes. Here
are some potential changes in selling that we might see in 2024:
1. Increase in e-commerce: With the pandemic, e-commerce has already seen
a significant surge, and it is likely to continue in the coming years.
Therefore, businesses will continue to invest in their online presence,
including websites, social media platforms, and mobile apps, to cater to
online shoppers.
There are several reasons for the increase in e-commerce in recent years:
Convenience
Wide selection of products
Competitive pricing
Improved technology
Social media
Pandemic-induced lockdowns
Overall, the increase in e-commerce can be attributed to a combination of
factors, including convenience, selection, competitive pricing, improved
technology, social media, and the COVID-19 pandemic
2. Rise in personalization. Personalized shopping experiences are
becoming increasingly important to consumers. In response,
businesses will use AI-powered technology to personalize product
recommendations, email marketing campaigns, and advertising
efforts.
Personalization is becoming increasingly important in e-commerce as
consumers expect a more customized and personalized shopping
experience. Here are some reasons for the rise in personalization in e-
commerce:
Improved data collection
Artificial intelligence and
machine learning
Increased competition
Customer expectations
Improved technology
Overall, the rise in personalization in e-commerce can be attributed
to a combination of improved data collection, AI and machine
learning, increased competition, customer expectations, and
improved technology. As personalization becomes more widespread,
it is likely to become an even more important factor in e-commerce
success.
3. More emphasis on sustainability. Consumers are becoming more
environmentally conscious, and they expect businesses to follow
suit. Therefore, businesses will focus on sustainable sourcing,
production, and distribution to attract eco-conscious customers.
Sustainability has become an increasingly important issue for
consumers, and e-commerce companies are responding by placing
more emphasis on sustainability. Here are some reasons for the
growing focus on sustainability in e-commerce:
Consumer demand: Consumers are increasingly concerned
about the environmental impact of their purchases, and they
are looking for more sustainable options. This has led to a
growing demand for sustainable products and packaging, as
well as more environmentally friendly shipping and delivery
options.
Brand image: E-commerce companies are aware that their
environmental impact can have a significant impact on their
brand image. By emphasizing sustainability, companies can
improve their reputation and appeal to consumers who are
concerned about the environment.
Cost savings: Sustainable practices can also result in cost
savings for e-commerce companies. For example, using
recycled materials for packaging can reduce the cost of
materials, while using more energy-efficient transportation
methods can reduce fuel costs.
Regulations: Many countries and regions are introducing
regulations that require companies to reduce their
environmental impact. E-commerce companies need to
comply with these regulations in order to avoid fines and
maintain their operations.
Ethical considerations: Many e-commerce companies
recognize the ethical considerations of sustainability and
want to do their part in reducing their environmental
impact.
4. Use of augmented reality: Augmented reality (AR) is expected to
become more mainstream in the selling landscape. By using AR
technology, businesses will enable customers to virtually try on
clothes, visualize home decor, and experience products in their
homes before buying.
Augmented reality (AR) is an emerging technology that overlays
digital content onto the physical world, allowing users to interact
with and visualize products in a more immersive way. Here are some
reasons for the growing use of AR in e-commerce:
Enhanced customer Reduced return rates
experience
Increased
engagement
Differentiation from Improved product
competitors visualization
Overall, the growing use of AR in e-commerce can be attributed to its
ability to enhance the customer experience, reduce return rates,
differentiate from competitors, improve product visualization, and
increase engagement. As AR technology continues to advance, we
can expect even more innovative uses of AR in e-commerce in the
future.
5. Growth in social commerce: Social media platforms like Instagram,
Facebook, and TikTok are already popular for brand promotion,
but they're now becoming selling platforms as well. In 2024,
businesses will continue to use social commerce to reach
customers directly and drive sales through social media.
Social commerce refers to the use of social media platforms to sell
products and services. Here are some reasons for the growth in
social commerce:
Social media usage: Social media platforms have become an
integral part of daily life for many people, with billions of
users worldwide. This provides a huge audience for
businesses to reach with their products and services.
Convenience: Social commerce allows customers to browse
and purchase products without having to leave their social
media platform. This provides a more convenient shopping
experience for customers.
Personalization: Social media platforms provide businesses
with a wealth of data on their customers, which can be used
to create highly personalized experiences. This can increase
customer satisfaction and loyalty.
Trust and social proof: Social media provides a platform for
customers to leave reviews and feedback on products, which
can help to build trust and social proof for businesses.
Customers are more likely to trust recommendations from
their peers than from businesses themselves.
Innovation: Social media platforms are constantly
introducing new features and tools that can be used for
social commerce. For example, Instagram has introduced
shoppable posts and stories, allowing businesses to sell
products directly from their social media accounts.
6. In-person relationships will become more rather than
less important.
Once social media, texting, video conferencing and other mobile
technologies have lost their newness, there will be a shift towards
personal, face-to-face relationships. While those technologies will
continue to be used more frequently, business people will increasingly
differentiate between online "friends" and the personal relationships that
involve face-to-face contact, and the active conducting of business.
7. Sales training will move from private providers to
colleges and universities.
Sales training is currently a multi-billion-dollar business that's
dominated by private providers, many of whom teach a
similar, or even identical, curriculum. While academia has
generally ignored the study and teaching of sales in favor of
the study and teaching of marketing, that will change over
the next decade. An increasing number of business majors
will "minor" in sales as well as marketing.
The idea of sales training moving from private providers to
colleges and universities is an interesting one. Here are some
potential reasons for this shift:
Demand for formal education: As the sales industry
becomes more complex, there may be an increasing
demand for formal education in sales. This could be
driven by employers who are looking for more highly
skilled sales professionals, or by individuals who are
looking to improve their skills and credentials.
Recognition of sales as a profession: In the past, sales
has not always been recognized as a profession in the
same way as fields such as law or medicine. However, as
the industry becomes more sophisticated and
specialized, there may be a greater recognition of sales
as a profession that requires formal education and
training.
Collaboration between academia and industry:
Collaboration between academia and industry could
lead to the development of more relevant and effective
sales training programs. This could involve universities
working with companies to develop customized sales
training programs that meet the specific needs of their
industry or organization
Increased competition: As the sales industry becomes
more competitive, there may be a greater emphasis on
education and training as a way to gain a competitive
advantage. Companies may be more willing to invest in
formal education for their sales professionals as a way to
improve their performance and results.
Overall, the shift towards sales training moving from private
providers to colleges and universities could be driven by a range
of factors, including demand for formal education, recognition
of sales as a profession, collaboration between academia and
industry, and increased competition. However, it remains to be
seen whether this shift will actually occur and what impact it
would have on the sales industry.
8. Salespeople will become more specialized and more
professional.
Traditional wisdom says that a good salesperson can "sell
anything to anyone." That was never really true--there have
always been different kinds of selling--but it's going to become
less true as time goes on. Salespeople are already beginning to
specialize in terms of industry, because specialized expertise is
needed, and in terms of channel, because selling on the phone,
by video conference, and in person require different skill sets.
It is likely that salespeople will become more specialized and
more professional in the future. Here are some reasons why:
Increasing complexity: Sales is becoming increasingly
complex, with more data to analyze, more channels to
manage, and more specialized products and services. This
means that salespeople will need to have more specialized
knowledge and skills to be successful.
Emphasis on customer relationships: As competition
increases, businesses are placing more emphasis on
building and maintaining strong customer relationships.
This requires salespeople to have a deep understanding of
their customers' needs, preferences, and challenges, and
to be able to build trust and rapport with them.
Use of technology: Technology is transforming the sales
industry, with tools such as CRM systems, data analytics,
and automation becoming increasingly important.
Salespeople will need to be able to effectively use these
tools to manage their sales pipeline and engage with
customers.
Professionalization of the industry: The sales industry is
becoming more professionalized, with companies investing
in training and development programs to improve the skills
and knowledge of their salespeople. This is likely to lead to
a more specialized and professionalized workforce.
Shift towards consultative selling: As customers become
more informed and empowered, there is a growing trend
towards consultative selling, where salespeople act as
trusted advisors and provide value through their expertise
and insights. This requires a high level of specialization and
professionalism.
Companies will continue to hire more rather than fewer
salespeople.
For the past few decades, many business thinkers have
treated selling as something that would eventually "wither
away" as the Internet made commerce more "frictionless."
That hasn't happened, however, because as soon as
something becomes a commodity (and thus can be sold
directly), that process has created the need to higher-level
solutions. This continues to create an increasing demand
for skilled salespeople.
These are just a few potential changes in selling that we
might see in 2024. As technology advances and consumer
behavior evolves, businesses will need to adapt to stay
competitive and meet customer demands.
