Introducing the State of Sales 2020

Editor's Note: Enjoy this special encore post, which was one of our readers' favorites in 2020. It originally published on May 18, 2020. 

In our fourth annual LinkedIn State of Sales report, U.S. edition, we’ve identified some of the sales trends that have emerged in these challenging times. We have also found that many trends that were present before the arrival of coronavirus — such as the embrace of sales technology and the reliance on data — are in fact accelerating in the current environment. 

The State of Sales report examines both the emerging and enduring trends impacting sales. The report also offers insights into how sales organizations can position themselves to leverage these trends in the economic recovery. 

The report is based on a survey of 500 buyers and 500 sellers in the United States. It also incorporates two additional surveys of sales professionals conducted over the past two months to gauge the impact of coronavirus on the sales sector.  

Emerging Trends 

In the survey, 70% of sales managers said the ability to manage through change was more important than it was five years ago. Certainly, sales leaders are currently being tested by the new reality.   

One key emerging trend is that salespeople are anticipating difficult times ahead, even in the earliest days of COVID-19 striking the United States. A LinkedIn survey of sales professionals found that:  

• 55% of respondents anticipated a decrease in pipeline (with 14% expecting a significant decrease).  
• 44% of respondents anticipated a decrease in responsiveness to outreach (with 14% expecting a significant decrease). 
• 60% of respondents anticipated a decrease in hitting quota/closing deals (with 14% expecting a significant decrease).  

With travel limited, face-to-face meetings restricted, and conferences canceled, our report shows that sales organizations are quickly embracing virtual selling:  

• 77% of respondents are holding more video meetings. 
• 51% of respondents are sending more emails.  
• 57% of respondents are making more phone calls.  

Joseph DiMisa, Sales Effectiveness and Rewards Leader at Korn Ferry, contributed his insights to the State of Sales report. He agrees that many sales orgs are responding quickly to the changed environment:  

“We are seeing a few trends among sales organizations adjusting to the current climate. Everything has shifted to virtual selling, using video conferencing, sending emails, creating webinars and info sessions. … We’re also seeing a rise in data-driven selling. We are finding that sales organizations are placing more emphasis on using data to help a client make informed business decisions based on quantifiable information and numbers.”   

Enduring Trends 

It’s true that coronavirus is driving some changes in the short term. At the same time, many trends that were already in motion before this year are only gaining strength in the current environment. Here are some of the enduring trends identified by our State of Sales report:   

Long-term sales metrics are stepping to the forefront. Our research shows that 70% of sales professionals are currently prioritizing customer retention, which correlates with the finding that sales organizations are highlighting long-term metrics, such as customer satisfaction and customer retention over quarterly quota.   

The data-driven sales org is on the rise. Fifty-six percent of sales professionals say they're using data to target accounts. Sales pros are increasing their reliance on data in the current climate to more accurately target the businesses, industries, and geolocations providing the most likely opportunities for closing deals.   

Sales technology is transforming the sales org. The number of sales professionals relying on sales intelligence tools (such as LinkedIn Sales Navigator) has increased by 54% in the past two years. It's part of a trend toward virtual selling that is accelerating in the current climate. 

Trust gets deals done. While only 40% of buyers describe the sales profession as “trustworthy,” buyers do eventually find salespeople they can trust: 88% of buyers describe the salespeople they do business with as “trusted advisors.”    

Building a sales team with the right skills remains challenging. The skills required to thrive in the current environment have shifted, and sales professionals are working hard to expand their talents. Data shows that time spent on LinkedIn Learning courses about “social selling” and “inside sales” more than tripled between February and March 2020 in North America. Time spent on LinkedIn Learning courses about Sales Navigator also increased by 39% in the same period. 

To thrive in the challenging times ahead, sales leaders will need to keep a close eye on the emerging and enduring trends impacting their organizations. The State of Sales 2020 provides some valuable insight to help you do just that.   

Read the full report now.