Recent research from Showpad has revealed that customer churn rate – the percentage of service subscribers who discontinue subscriptions within a given period of time – has also become an increasing problem, with 59% of UK respondents now citing it as the main obstacle to overcome, much higher than in other regions.
In addition to this, many UK organisations are finding it more difficult to close deals due to buying decisions being placed on hold (47%) and the changing of decision criteria (36%).
Iain Masson, RVP UK & Nordics at Showpad said: “The pandemic has had a massive impact on sales and marketing teams. Trying to navigate through difficult times while also battling higher churn rates and changing buyer behaviours is not an easy road to walk down. Organisations must equip their sellers and marketers with the right tools and relevant training to help them meet and respond to these new customer needs to ensure customers are receiving the highly personalised and tailored experience they deserve. The old way of selling is over, we need a new approach of ‘modern selling’.”
Despite these challenges, with the acceleration in digital transformation, sales and marketing collaboration has improved as a result of the pandemic, with more than a quarter (26%) of respondents claiming collaboration is better than before.
Effective remote working, on the other hand, continues to be a struggle. Difficulty gaining interest and engagement from prospects during calls was cited as a big issue for 24% of respondents, along with engaging new starters when onboarding remotely (38%).
“Our research revealed that 89% of UK respondents believe remote working is here to stay. If sales and marketing teams want to continue to prosper, there must be a focus on ensuring all teams are equipped and ready for this future of hybrid working,” said Masson. “With revenue enablement tools, teams can hone that improved collaboration and work more effectively together, not just across sales and marketing, but across all customer-facing roles and revenue teams. Better collaboration equals better results for all teams.”