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What Are the Best Sales and Negotiation Trends for 2021?

Ever-evolving technology and customer expectations mean that change is one thing you can bank on in the business.

Adjusting to a new way of conducting your business can sometimes feel like walking over hot coals. However, companies that fail to adapt risk becoming irrelevant quickly.

Keeping track of trends is not only crucial to staying ahead of the competition; it’s also about survival.

With that in mind, here are some of the best sales trends to keep on your radar in 2021, according to sales training experts.

AI-Powered Chatbots

AI-powered chatbots are popping up like weeds on websites and apps. Fueling this trend, in a large part, is an increasing demand for speed, convenience, and 24/7 digital experiences.

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By 2024, the global chatbot market size is projected to jump from $2.6 billion (2019) to $9.4 billion at a CAGR (compound annual growth rate) of 29.7%.

Chatbots are a great way to provide customers with quick information. Prompt responses can improve engagement, creating customers who are more satisfied and therefore easier to sell to and retain than the average buyer.

Customer Self-Service Portals

Customers continue to want to make purchase decisions at their own pace and to solve their own problems.

The desire to take the reins has sparked a growing demand for self-service portals – a section of a company’s website offering information and resources to help users find answers and resolve their issues.

According to SuperOffice, 70% of customers now expect websites to include a self-service feature. Also, Forrester Research reports that online self-service usage is at 80% across all industries.

Empowering customers to self-serve is also a win for businesses. Most importantly, self-service options allow brands to improve the customer service experience.

Sales trainers say providing an easy, low-effort experience is key to harvesting the benefits of self-service.

So, if you’re jumping on this trend, be sure the information shared is relevant, up to date, and easy to find.

Combined Human and Digital Interactions

While improving digital experiences is important, maintaining personal interaction still remains a critical part of the sales process.

Going completely digital tends to alienate buyers who may be frustrated with digital tools that don’t respond the way another person would.

According to the review publication Finances Online, a mere 4% of buyers prefer communicating through digital means all the time.

76% of buyers reported that they prefer speaking to someone over the phone, especially when buying a new product or service.

So, maintain personal interactions between customers and reps, which can stir more customers to buy by building trust and relationships.

Data-Driven Storytelling

Competition in business remains as fierce as ever thanks to the ever-growing plethora of purchasing options available to prospects.

As a result, the fight for a customer’s attention and trust continues to be a burning issue. Storytelling has been a key weapon in the fight, and companies are using data to ramp up the power of telling a great story.

Marrying visuals with data adds credibility to information shared. Stories backed by data tend to also be more engaging and impactful.

The online space is cluttered, so knowing what data to use and how much to share will be key to hitting it out of the park, according to sales trainers.

Empathy

Empathy has always been a vital sales skill. However, the need to have an awareness of the feelings and emotions of others has taken on a new urgency. The stresses and strains of lockdowns have left more than a few emotional bruises.

A McKinsey survey of consumers taken soon after the lockdowns started found that 64% of people reported feeling depressed, anxious, or both. In 2021, uncertainty still hangs heavy in the air.

As a result, emotions continue to run high.

During a crisis, customers crave empathy above all else – and reward companies who deliver.

71% of consumers say businesses that show empathy during lockdowns have earned their loyalty, according to the Salesforce Consumer and Workforce series.

Social Commerce

Before the events of 2020, social commerce – the use of social networks like Instagram and Facebook to buy and sell goods or services – was inching its way to the big leagues. Record-breaking social media use kicked things into high gear.

According to eMarketer, the social commerce market is expected to reach nearly $315.5 billion by the end of 2021.

Social platforms are capitalizing on this uptick by developing new ways for users to shop on their apps. Brands looking to boost traffic, engagement, and audience growth are also prioritizing investments in this space.

Selling online is complex, and there’s a huge range of social platforms in use. Sales training experts say brands looking to come out ahead of the competition need to make sure they understand their audiences.

The more brands know their customers, the better they’ll be able to pinpoint the most effective channels to focus on.

Short-Form Video Content

Video now makes up more than 75% of all of the world’s internet traffic. That number is set to jump to 82% according to Cisco’s Visual Networking Index.

For a while now, dwindling attention spans have had brands opting for shorter videos. That trend is set to continue as viewers are increasingly showing a preference for bite-size content.

How short is short when it comes to video content? According to statistics by Ad Age, the shorter, the better:

  • 33% of viewers will stop watching a video after 30 seconds.
  • 45% of viewers will stop by one minute.
  • 60% of viewers will stop by two minutes.

Also, according to Vidyard, over 68% of viewers will watch a video to the end of it’s less than 60 seconds. In contrast, only 25% will finish a video if it’s more than 20 minutes.

Nothing speaks more to the increasing popularity of shorter videos like the atomic success of Tik Tok videos and Instagram Reels.

The success of these two features pinpoints the importance of keeping it brief when it comes to video content.

Conclusion

When done right, short-form videos are a great tool for lead generation. As the content is brief and easy to digest, it’s more shareable, which can help boost engagement.

The fact that companies can produce short-form content quicker and more cost-effectively is also a plus.

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