Salesforce, a global leader in CRM, has released its latest “State of Sales” report, which provides insights from 5,500 sales professionals across 27 countries, including 100 from Singapore. The report details the balancing act that sales teams face between leveraging technological advancements and fostering trusted customer relationships in a competitive environment.
Struggle to meet changing customer expectations
The report points out that adapting to changing customer expectations is the foremost challenge for sales teams globally, a sentiment echoed by 66% of sales professionals in Singapore who find it increasingly difficult compared to last year. Moreover, sales professionals in Singapore spend only 29% of their working hours engaging with customers, which is significantly lower than desired.
The surge in AI adoption faces hurdles
Sales teams are increasingly adopting AI to boost productivity and personalise experiences. However, the report reveals significant challenges in fully realising AI's potential. While 73% of sales teams in Singapore have either fully implemented or are experimenting with AI, issues such as trust in data, security, integration, and inadequate employee training, are notable hurdles. Only 17% of sales professionals in Singapore trust their data's accuracy, affecting crucial aspects of sales like target setting, forecasting, and gathering competitive intelligence.
Improvements in employee retention amid tight labour market
On a global scale, sales staff retention has improved, with the average turnover reducing from 25% in 2022 to 18% over the last 12 months. In Singapore, the turnover rate is slightly higher at 20%, but only 8% of sales professionals are currently looking to switch jobs, indicating a stabilising labour market within the sales sector.
Sujith Abraham, Senior Vice President and General Manager at Salesforce ASEAN, stated, “Evolving customer expectations means that sales professionals must find more time to better understand and build deep relationships with customers. AI has the potential to enhance sales professionals' productivity, giving them more time to deepen connections with customers.” He also highlighted the need for accurate data and trust to effectively implement AI, recommending a unified platform that provides reliable AI outputs to increase productivity.
