Key SalesTech Trends in 2020

CIO Applications| Tuesday, September 01, 2020

AR can be highly helpful in minimizing the rate of product returns. The average return rate is 25 percent at this moment, and retailers report that this impacts their overall functioning negatively.

Fremont, CA: Buying behaviors have changed dramatically over the past few years. The traditional tricks of Sales do not always come in handy. Sales professionals deal with new challenges on a daily basis. Gradually, organizations are realizing the need to offer personalized services/products. Besides, many companies have understood the importance of investing in customer success and are working towards it.

Let us look at some noticeable sales tech trends:

AR and VR

Nowadays, a lot of property-listing sites are using augmented reality and virtual reality to offer customers the exclusive experience of the properties right from anywhere in the world. By allowing customers to visit the properties regardless of their locations, they can improve the customer experience and save a lot of commute time. AR can be highly helpful in minimizing the rate of product returns. The average return rate is 25 percent at this moment, and retailers report that this impacts their overall functioning negatively. Enabling the customers to experience the product in AR would make sure customers gain an in-depth understanding of the product before buying.

AI and Analytics

Artificial Intelligence has become an integral part of almost every industry. SalesTech is no exception. For instance, chatbots are helping sales personnel establish a primary level of communication with clients and potential customers. Advanced Analytics continues to affect major business decisions. 25 percent of the Sales leaders think that chatbot is a great addition to their Sales processes.

Communication Is the Key

While every business decision depends on data analytics and insights, the role of channeled communication is equally vital. With various intelligent data available at the fingertips, businesses are poised to make the best use of it.

Companies across the world are collecting data every second to make informed decisions. However, most companies fail to communicate the data effectively between departments. They often do not know how much data is available internally due to the lack of a proper communication channel.