Showpad, the global leader in sales enablement technology, has released the second round of findings from its State of Selling Survey, which analyzed sellers from U.S. organizations and found that, on average, B2B businesses lose $1.6M in annual revenue due to poor digital sales deployment. As sellers are not equipped with the right tools to sell, they in turn lose nearly $210,000 in commission annually.
It is critical that B2B companies embrace digital selling approaches to engage with buyers and gain a competitive edge as 86% of buyers now prefer to be sold to virtually. Organizations that embrace digital selling saw a 35% boost in revenue over the past year and 88% of sellers believe that digital sales is valuable for revenue generation.
Digital Selling Disparity
More than three quarters of sellers (79%) say they have a clear understanding of digital-first selling and 74% say their company has a standardized system for it; yet, just 37% believe their sales teams fully incorporate digital selling. According to the study, 43% of sellers say digital-first sales is a ‘must-have expectation of buyers’ and 30% say it is a ‘differentiator to win’ in their respective industries.
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When asked what they’d like to see their organization doing more to support the B2B digital sales journey, half of sellers (50%) say they need better technology and platforming, and 44% say they need a sales or revenue enablement platform. It appears that while sellers see the value in digital selling tactics and tools, businesses have not made it a priority, costing them significant revenue annually.
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