The 5 Emerging Trends in Software Sales

8 min read

Software sales is a dynamic and challenging field. Research indicates that the average tenure for a software sales rep is less than 18 months. This ever-changing landscape necessitates that professionals stay abreast of current trends and anticipate future shifts. To help you thrive in this fast-paced career, we've identified five emerging trends in software sales that you should be aware of to stay ahead of the curve. These insights are based on interviews with industry leaders and data from LinkedIn and Indeed, ensuring accuracy and relevance. Read on to discover the future of software sales and how these trends will influence your career trajectory.

Data-Based Decision Making in Software Sales

In the current business landscape, data reigns supreme. It's increasingly becoming the bedrock upon which software sales organizations operate. Data-based decision making is enabling sales teams to close more deals, reduce churn, and increase customer lifetime value. Understanding how to leverage data in your role and the new opportunities it presents is crucial. Some examples include:

  • Data-driven sales forecasts: Many sales organizations are now using data-driven forecasts to understand customer behavior, set realistic sales quotas, and predict future revenue. Tools like Forecastly use data from your other systems to provide an accurate forecast.
  • Data-driven account management: Account managers are increasingly using data to determine where to focus their efforts, how many resources to allocate to each opportunity, and how to close deals faster.

Change is the only Constant in Software Sales

Software sales is a field in constant flux, requiring individuals who can adapt to change. Technologies, buying behaviors, and sales processes are continually evolving. This is particularly true in B2B industries, where each customer is unique and the buying journey can be unpredictable. Cultivating a mindset that allows you to adapt quickly to new information and situations is essential.

Culture Change is Coming for Software Companies

The world's largest software companies have grown through word of mouth and existing in a sales landscape where new technology adoption is challenging. To stay relevant, these organizations will need to change their sales approach and adapt to the new tech landscape. The rise of SaaS is driving this shift, with SaaS becoming a billion-dollar industry in the last decade due to its ease of adoption and long-term cost-effectiveness.

Cloud-Based Selling

As organizations transition to the cloud, they're likely to prefer buying from cloud-based companies. Understanding the benefits of cloud-based selling is crucial. For instance, cloud-based solutions are easy to adopt, require minimal implementation and onboarding, and can shorten sales cycles. Conversely, organizations not selling through the cloud may lose deals to their cloud-based competitors.

The Rise of B2B Platforms and Role of Cloud Marketplaces

Salesforce has demonstrated that B2B marketplaces can drive significant revenue, but these platforms are just getting started. B2B e-commerce is expected to grow at a compound annual growth rate of over 30 percent, with most growth coming from the Asia Pacific. For sales reps, this trend implies that you might be selling through a marketplace such as Top marketplace for B2B sales reps. Going forward, you'll likely use a B2B platform to discover new leads and manage your deal pipeline.

The field of software sales is always evolving, but the next few years promise to be particularly dynamic. Understanding the impact of these trends on your role and leveraging them to succeed is key to staying ahead of the curve.

To see how Automatum can help you get listed and scale your Cloud Marketplace revenue schedule a call.

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