Even with all the sales intelligence tools out there, sales people still face some of the same old problems. Despite access to the most popular platforms, reps often have to resort to applying their own tools as a way of filling in serious gaps – or else deal with the consequences to morale, productivity, or […]
Even with all the sales intelligence tools out there, sales people still face some of the same old problems. Despite access to the most popular platforms, reps often have to resort to applying their own tools as a way of filling in serious gaps – or else deal with the consequences to morale, productivity, or even brand reputation. But sales reps know what their struggles are and what they need to meet their targets – and keep their sanity. Let’s talk about what they have to say about the state of B2B. Their insights can help inform how we move forward in 2023.
Lusha’s state of B2B sales survey
Back in May 2022, we conducted a survey on the B2B sales industry that set out to answer this question: How do salespeople feel about the data that they use?
Because Lusha is a sales intelligence platform, data is kind of our thing. We know how important it is to make strategic decisions based on data insights and how data can make all the difference in closing deals. So last year we decided to gather input from the kind of people we most want to help: salespeople just like you. We surveyed 500 sales professionals in the US and looked at their reliance on – and satisfaction with– sales intelligence software. Those surveyed represented all seniority levels of sales departments in industries including financial services, IT, and technology.
Enter: 2023
In the months since we completed the survey, working in the B2B sales industry has only become more challenging. The economic downturn, the Great Resignation, layoffs, and inflation are just a few reasons businesses are thinking a lot harder about what they invest in.
This means that the problems we saw in 2022 now have the potential to cause even more disruption. Sales organizations need to take a tough look at the intelligence tools they use and make sure they have what they actually need without duplication. They also need to stop and examine their practices: where do their teams need support? What processes can be made better or more efficient?
Thankfully, the survey offers some valuable insights about what sales orgs need to pivot toward success in 2023.
Salespeople often resort to their own tools
The vast majority of sales professionals are supplied with third-party tools for prospecting; the most popular are Sales Navigator, Zoomlnfo, and HubSpot Sales Hub. About 1/3rd of SDRs are happy with the software their organization uses.
But it’s almost shocking to learn that an even greater number – 42% – add their own tools because they just don’t get sufficient data from their company’s vendor. In addition, another 18% ignore the software provided by their company and rely completely on ad hoc tools. So all together, that means 60% of sales professionals aren’t satisfied with the third-party intelligence tools they use.
This fact might not mean much at first glance. After all, what does it matter which tools you use, as long as you make your targets? Well, let’s not forget that tools cost money, and if they aren’t enough to close deals, then that hurts sales productivity. During times like these, with shrinking budgets and lower sales rates, you need productivity to go up, not down. Teams need to evaluate the usefulness – and true value – of their tools now more than ever.
In 2023, there’s not a lot of room for inefficient or duplicate tools when money is tight and sales productivity is even more important for a company’s success. While the stats from the survey aren’t encouraging satisfaction rates, take this as a good reminder to critically evaluate what tools you need.
Almost all salespeople want more help early in the process
Regardless of whether they use third-party tools or their own methods, 96% of salespeople would like more assistance for the early stages of the sales cycle. Where is most help needed? Simply getting things moving and starting the cycle. More than half of respondents had difficulty getting information about prospects so that they could begin a conversation and/or receive good contact info for leads.
The survey discovered that the core of the problem is data that’s inaccurate and/or not detailed enough. Sales reps lose prospects because of poor information that causes problems like:
- A pitch that doesn’t stand out
- Bad timing
- Making the wrong contact due to inaccurate information
Sales teams want sales intelligence software that addresses their major pain points. Almost a third of B2B sales pros still have trouble qualifying leads, and 40% say that tools don’t generate the kind of information required to build personalized pitches. This is especially a problem considering how important personalization is to having successful sales.
It’s an even bigger problem when you consider the current trend away from inbound sales and towards outbound. Sales organizations are trying to cover reduced inbound volume by chasing down and nurturing prospects. But to get there, they need high-quality leads with detailed information– the kind that many sales intelligence tools don’t seem to provide.
For your 2023 strategy, consider tools that will help you reach the right prospects at the right time – ideally, find a tool that can do both to get the most out of your investment. Consider using more actionable data such as job change alerts and intent signals that will help you warm up your cold outbound efforts.
The pressure is adding up on sales teams…
Even when top quality resources are lacking, salespeople still need to meet their targets. So they head out with insufficient information, and eventually that causes problems. Working with poor data or inefficient tools leads to less-than-desirable results that can take a personal toll, like:
- Negative interactions with disinterested leads
- Feeling unprofessional after contacting irrelevant prospects
- Frustration due to time wasted on administrative tasks
- Burnout from the amount of effort spent on outreach
Almost all salespeople have experienced negative feelings from a tough early sales cycle. But, when the misses keep coming, it all can add up to low morale. That in turn leads to even worse productivity, creating a vicious cycle.
The survey discovered that salespeople spend an average of 45.5 hours per month on outreach calls that ultimately don’t turn into deals. This is probably one of the issues that can lead to a high rate of quitting.
To counter this effect in 2023, sales managers should implement steps such as coaching and other sales productivity measures. By showing interest in your team’s emotional state – not just output – leaders can boost productivity and retention.
…And on the companies they work for
When a sales pitch misses the mark, the story doesn’t end there. 90% of respondents felt that poorly targeted outreach could cause a continuing loss of sales and damage to the company’s reputation. The potential for negative reviews and low ratings on social media are always looming in the background when your efforts miss the mark.
Sales intelligence software that performs poorly has a snowball effect. Not only does it hurt sales productivity; it can also harm the brand of the company as a whole.
Tech stacks can help B2B sales – if chosen wisely.
The majority of salespeople we surveyed – 94% – agreed that despite the drawbacks, sales intelligence tools can do a lot of the legwork and save them from too much tedious research. 91% agreed that using tools also narrows their focus so they can prospect to more relevant leads, reducing the amount of “spray and pray” outbound..
It might not seem like the best time to invest in software considering the economic climate. But past experience shows that businesses that survived previous recessions didn’t go all out on cutting costs; instead, they chose where to spend wisely.
The right sales intelligence software can be a smart investment, even now. Making your tech stack more efficient means you can take time you’d be using elsewhere and redirect it where it really matters. When you know you can trust your tech stack, you can focus on adding even more promising leads to your pipeline.
We’ve seen how investing in the wrong sales intelligence software can get you the wrong data (or not enough of it), leading to all kinds of problems for your sales teams and company. But if you use the right tools it ultimately pays off with better sales (and happier salespeople).
Key Takeaways
- Lusha’s survey about sales intelligence tools offers important lessons for B2B sales organizations in 2023.
- Despite the availability of popular sales intelligence software, salespeople have particular trouble in the early stages of a sales cycle because they lack data to personalize pitches and qualify leads.
- Sales teams want tools that deliver data that is both personalized and accurate.
