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5 Sales Trends to Watch in 2024

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Modern sales are evolving at breakneck speed. Sales teams are adapting to machine learning and AI, shifting generational preferences, and an omnichannel experience.

Sales managers need to stay ahead of the curve his sales goals.

We've sifted through expert insights to bring you the five industry trends that will reshape the state of sales in the next year and beyond.

It's time to future-proof your sales strategy.

Trend #1: AI-Driven Sales Transformation

Artificial intelligence isn't just knocking on the door of sales—it's kicking it down and making itself at home.

Sales technology like this transforms how sales teams approach their roles and build relationships.

According to the Alexander Group, approximately 75% of companies plan to implement at least one AI sales tool in their commercial organization within the next two years.

The Future of Sales Productivity

Gartner predicts that by 2025, 35% of chief revenue officers will resource a centralized “GenAI Operations” team as part of their go-to-market organization.

It's no wonder sales leaders and RevOps teams are enthusiastic about the use of AI. A McKinsey study estimates that the technology could contribute up to $4.4 trillion in annual global productivity, with marketing and sales as one of the core groups that could reap up to 75% of that value.

How Sales Teams Will Use AI

What does the help of AI look like on the ground?

The applications of AI in sales are as diverse as they are impressive. The Alexander Group and McKinsey study both point to several ways it can enhance sales performance:

  • Sales Data: Signaling AI can decode intent for inbound leads, offering insights that were once the domain of seasoned sales veterans;
  • Social Intelligence: Generative AI is poised to transform lead nurturing, synthesizing product information and customer profiles to create tailored discussion scripts;
  • Qualify Leads: Machine Learning algorithms can quantify the propensity to buy, ensuring leads are routed to the most appropriate sellers.

I want to note that the use of AI won't replace in-person interactions. Human connection is indispensable.

Instead, AI can improve sales productivity and data analytics, freeing us to build relationships and add value.

What's Next?

To meet the new standard, we want to see where AI can best support sales enablement.

For sales leaders and RevOps teams, the challenge lies in implementation.

Sales managers are asking:

  • Which sales activities can be automated or streamlined?
  • Which AI tools offer the most value?
  • How can we scale sales training to help reps make data-driven decision?
  • How can we maintain value-based selling with new digital channels?

Those who embrace today's market thoughtfully and strategically will find themselves at the forefront of a new, more effective era of sales.

Trend #2: Evolving Sales Roles and Competencies

As AI sales tools and digital technologies permeate the state of sales, roles are changing.  

Sales professionals can pivot towards more specialized, data-driven, and consultative selling — a shift that redefines what it means to be a top performer.

More Knowledgeable Sales Teams

A recent study from the Alexander Group notes a significant evolution in the role of field sellers.

These sales professionals "will increasingly need to specialize in managing key and strategic accounts, where face-to-face interactions are essential."

Field reps will become knowledgeable sales advisors who can comprehend and address complex customer challenges.

Inside sales is experiencing its own transformation. They are now equipped to pursue more complex and high-value opportunities.

To be a successful sales professional in the next year (and beyond) is to cultivate a unique blend of competencies. This means:

  • Adapting to data-driven selling;
  • Being able to build trust and craft personalized experiences;
  • Having a strategic approach to combining data-driven decisions with consultative selling.

What's Next?

This state of sales calls for sales managers to rethink hiring practices, training programs, and performance metrics.

Tomorrow's sales superstars may break the traditional mold. Business leaders will need to build a more knowledgeable sales team. This means expanding core competencies and fostering an atmosphere of encouragement for continuous learning.

Trend #3: The Rise of Omnichannel And Hybrid Sales Models in B2B

The singular sales approach is outdated.

Today's B2B sales landscape is characterized by a complex web of touchpoints. A deal might germinate on LinkedIn, develop over a series of video calls, and end in an in-person meeting.

McKinsey's research highlights the rapid increase in sales channels in recent years.

In 2016, B2B companies managed an average of five sales channels. Fast-forward to 2021, and that number doubled to ten—a reflection of buyers' growing demand for an omnichannel experience across digital and physical touchpoints.

Multi-Channel Selling

Hybrid sales models are a key driver of growth.

McKinsey reports that among companies that grew more than 10% in 2022, 57% had implemented a hybrid sales model.

This combines:

  • The efficiency and reach of digital channels with;
  • The personal touch of traditional field sales.

Inside sales plays a big role. These reps can typically cover four times the prospects at 50% of the cost of a traditional field rep. This sales efficiency is driving many companies to expand their inside sales teams.

However, the remaining 20% of sales interactions often require in-person engagement — hence, the rise of the hybrid approach.

Excelling in omnichannel means enabling customers to move easily between channels without losing context or needing to repeat information. —McKinsey & Company (2024)

What's Next?

In the “next-gen” of B2B sales, successful sales organizations will balance digital efficiency with a high-touch, personalized experience.

The goal is to create a flexible, responsive sales model that can adapt to the buyer journey with the right mix of digital convenience and human expertise.

We'll likely see further integration of AI and data analytics into omnichannel strategies.

To thrive in omnichannel selling, sales reps need to be able to:

  • Transition between digital and in-person interactions;
  • Leverage data insights in real time;
  • Provide consistent value across all touchpoints.

Trend #4: New Generational Spending Patterns and Behaviors

As younger generations begin to wield purchasing power, spending behaviors naturally evolve.

According to PWC's research, while millennials currently hold the crown as top spenders, Gen Z consumers (aged 17-25) are poised to expand their economic footprint as they enter the workforce. For instance, during the 2023 holiday season, Gen Z had the highest year-over-year spending increase in the retail sector, signaling a shift organizations can’t afford to ignore.

McKinsey's research reveals that young consumers (aged 15-34) in emerging markets, particularly in Asia and the Middle East, exhibit a more optimistic economic outlook and a greater willingness to spend compared to their counterparts in advanced economies. The 28 to 24 demographic shows a strong desire for premium products, suggesting a potential opportunity for upmarket offerings in these regions.

However, it would be a mistake to focus solely on younger generations. Older consumers, particularly Baby Boomers and the Silent Generation, are defying expectations with their spending behaviors. McKinsey reports that "despite the financial constraints that may accompany retirement, aging consumers across all income levels are willing to spend on discretionary items."

Another interesting aspect of this generational shift is the continued rise of social commerce, especially among younger buyers. McKinsey predicts that social commerce in the United States will expand to $145 billion by 2027, up from $67 billion today. While this prediction primarily focuses on B2C sales, it's likely to have spillover effects in the B2B world, especially as younger decision-makers bring their buying habits into their professional roles.

As we step into the second half of the 2020s, sales professionals will need to develop a nuanced understanding of different generational preferences and behaviors and be able to tailor their approaches accordingly. Having a mix of generations represented within sales teams themselves can provide valuable insights and help bridge potential gaps in understanding or communication styles.

This trend yet again highlights the need for ongoing learning and adaptation in sales. What works for one generation may not work for another, and these preferences are likely to evolve over time. Sales organizations that can create agile, responsive strategies while maintaining a cohesive brand identity and value proposition will be best positioned to thrive.

Trend #5: Evolution of Incentive Compensation Management (ICM)

According to our 2024 Incentive Compensation Management Report, 97% of organizations surveyed saw revenue growth over the past year. This growth is putting pressure on compensation teams to scale their programs effectively and improve the impact of commission programs.

In response to this pressure, compensation teams are, unsurprisingly, turning to AI and automation, with 91% already using some form of the technology within their day-to-day incentive compensation management workflows.

And yet, despite the high adoption of AI, there's still considerable room for improvement. Only 46% of respondents calculate commissions in an accurate and timely manner, while 82% of compensation professionals receive over 20 inquiries per month from reps about their compensation. Additionally, only one-third of compensation professionals are aligning their incentive programs with organizational goals and objectives.

Many discuss the transformative potential of compensation strategies in altering behavior, yet few employ it as a strategic tool. Instead, they become entangled in the minutiae of managing existing compensation structures.

Matt Curl, SVP & GM at Checkr

Looking ahead, the first major shift will be the widespread automation of routine tasks, freeing up compensation professionals to focus on higher-value activities. Expect to see AI-driven systems handling everything from data input and basic calculations to generating standardized reports. This automation will significantly reduce errors and increase the speed and accuracy of commission payouts.

However, the real game-changer will be how technology enables a more strategic approach to ICM. With the grunt work handled by AI, compensation teams can shift their focus to analyzing program performance, identifying trends, and making data-driven decisions. They'll be able to run complex scenarios and forecasts, helping to fine-tune compensation plans for maximum impact.

We also anticipate a growing emphasis on real-time data and analytics. ICM systems will provide up-to-the-minute insights on sales performance and commission earnings. This transparency won't just benefit the compensation teams — it will also empower sales reps with the information they need to optimize their strategies and earnings.

Perhaps most importantly, this evolution will position ICM as a strategic lever for businesses. Instead of being viewed as a necessary administrative function, compensation management will become a powerful tool for shaping behavior and driving performance.

Stay Ahead of The Trends With CaptivateIQ

As we've seen, the sales landscape of 2024 is ripe with opportunities and challenges. From AI-driven transformations to evolving sales roles and the critical importance of Incentive Compensation Management, staying ahead of these trends is crucial for sales success.

Speaking of ICM, if you're looking to turn this trend into your competitive advantage, consider CaptivateIQ.

Our platform offers the flexibility to automate even the most complex commission plans, providing robust reporting and insights that captivate leaders and motivate Go-To-Market teams.

Ready to revolutionize your sales compensation strategy? Book a demo with us and take the first step towards future-proofing your sales operations.

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Talk to our commission plan experts to learn how you can make commissions a strategic growth driver.