April 24, 2024

Corporate Nex Hub

Bringing business progress

Mastering A New Year Of Marketing, Sales And RevOps Trends

4 min read

Jen Spencer is CEO of SmartBug Media—a full-service digital agency helping businesses get the most out of their full customer life cycle.

Would you rather get lost in the woods or forge a new path? Adaptability and foresight are our guiding stars as we head further into 2024 and the business landscape continues to change and we reach uncharted territories. Leverage the power of key marketing and sales trends as your business prepares to succeed in the upcoming year.

Talent Management And Resolving Head Count Issues

In 2021, companies were hiring at an unprecedented pace, sometimes placing individuals in positions that were not a good match for their skills and abilities. This misalignment created a new kind of talent shortage because those hires couldn’t live up to expectations. So, as the economy tightened, businesses began laying them off, shifting from hiring sprees to layoffs to consolidate roles.

Companies are poised to increase hiring in 2024. In response to that shift, people operations and talent operations teams must be proactive in their recruitment strategies, with businesses becoming more intentional about the teams they’re building not only to meet their growing needs but also to retain customers.

Adaptive Marketing And Sales Approaches

This year, marketing and sales strategies are set to evolve into a realm of sophistication, placing a greater emphasis on showcasing tangible ROI and aligning with value-based objectives. This transformation will elevate the overall quality and effectiveness of these strategies, enabling businesses to achieve their goals with finesse and precision. Whether you provide services or products to your customers, everything you do and every dollar you spend has to be intentional, requiring strong reporting to back it all up.

As an agency, we expect clients to demand concrete evidence of our contributions to their business goals. Services firms that can’t provide this do their clients a disservice. There must be a shift toward analytics and data-driven decision making.

Take HubSpot, for instance. Businesses gravitate toward HubSpot for its all-in-one benefits. Custom integrations that provide all the data you need and closed-loop reporting used to be a luxury, and workarounds were par for the course. Businesses need strong alignment with different systems to generate solid reporting, and HubSpot delivers.

This year, businesses that sell recurring revenue need to be ready to shift between two mindsets. In the first half of the year, the primary focus needs to be on deal velocity, emphasizing the speed at which deals are closed. There must be a minimum viable way to get customers in and start adding value. Quick wins focusing on a pain point you can solve today will help move deals faster—and open the door to expand on that work over time.

As the year progresses through Q2 and beyond, the focus will shift toward growth. Businesses can maximize total ticket prices for more lucrative deals, but at the same time, they need to prioritize client retention and renewal rates to sustain long-term business growth and stability into 2025.

Technology Stack Optimization

Losing track of your tech tools? Fortunately, 2024 should see a decrease in the trend of double buying, where customers purchase overlapping or similar products. Instead, the focus will shift to value-added, integrated solutions and right-sized tech stacks.

Take the time to do a detailed tech stack analysis. As companies grow and innovate, many realize they have the same types of solutions across several platforms.

Think about customer intent, for example. There was a time when G2 handled customer reviews, RollWorks was for account-based advertising and ZoomInfo powered data enrichment and sales prospecting. Now, all of them offer some version of intent data. It’s important to recognize different ways to get those insights—especially if one platform can generate trustworthy reporting and reduce your expenses.

Embracing AI For A Competitive Edge

AI and AI-assisted tools are poised to make a profound impact on B2B software organizations in 2024 and beyond. With the potential to render single-point software solutions obsolete, embedding AI in products and processes becomes imperative for maintaining competitiveness. In this rapidly evolving landscape, embracing AI is no longer an option but a prerequisite.

Imagine you’re playing tennis with a hand-me-down racket that’s older than you are. You have to be careful with it, so you can’t really tear up the court. Now, think of how much better you could be with an upgrade—something with a better grip and strong, durable strings. AI is that new-and-improved racket for businesses, and if you’re not thinking about how to use it to improve your operations, you’re missing out.

For B2B software companies to thrive, they must foster a culture of adaptation and constant innovation. In hindsight, this year’s emergence of ChatGPT seemed sudden, showcasing how swiftly progress can unfold. This ignited an unstoppable AI revolution, introducing increasingly sophisticated tools to the market. Embracing agility is crucial to gaining a competitive edge instead of falling behind and jeopardizing your business.

Guide Your Business Confidently In 2024

Today’s businesses can’t be bystanders. We need to be active participants in innovation—whether it’s navigating evolving sales dynamics, parsing talent management nuances or integrating cutting-edge technologies. The choices we make today shape our successes tomorrow. Journey through 2024 with intentionality, resilience and a growth-driven mindset.


Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?


link

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright © All rights reserved. | Newsphere by AF themes.