Surge in AI adoption amongst sales challenges in Singapore

Salesforce has unveiled its latest State of Sales report, shedding light on the challenges and trends facing sales teams globally, with particular insights drawn from its survey of 100 sales professionals in Singapore.

The report, which includes responses from over 5,500 sales professionals worldwide, details issues such as changing customer expectations, the surge in AI adoption, and employee retention.

The data reveals that sales professionals are increasingly struggling to allocate sufficient time to meet customer expectations. Specifically, 66% of sales professionals in Singapore reported that managing evolving customer expectations has become more challenging compared to a year ago, with only 9% finding it less challenging. It was also revealed that Singaporean sales professionals spend an average of just 29% of their work-week engaging with customers.

The report highlights a significant uptick in the adoption of artificial intelligence (AI) amongst sales teams. In Singapore, 73% of sales teams have either fully implemented or are experimenting with AI technologies, with a further 16% evaluating its potential. The primary reported benefit from AI is enhanced training and enablement efficiency. AI presents capabilities such as providing real-time selling guidance, tailored enablement based on historical data, and support for call coaching.

Despite the growing utilisation of AI, concerns about data accuracy and trust remain prevalent. Only 17% of sales professionals in Singapore trust the accuracy of their current data. Poor data quality has been identified as a significant barrier, affecting key sales processes including setting achievable sales targets and quotas (42%), accurate forecasting (40%), and competitive intelligence (35%). Challenges related to AI implementation include security concerns (38%), poor integration with existing technology stacks (36%), and insufficient employee training (36%).

On the matter of employee retention, the survey indicates a rising trend globally, with the average staff turnover dropping from 25% in 2022 to 18%. In Singapore, the average sales staff turnover rate over the past year has been estimated at 20%. Furthermore, only 8% of sales professionals in Singapore are currently seeking new job opportunities.

Sujith Abraham, Senior Vice President and General Manager of Salesforce ASEAN, commented on the report's findings. "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. For sales teams to successfully implement AI, companies must address the root of AI effectiveness which is in data accuracy and trust. Unifying data that can be accessed on a single trusted platform will deliver accurate AI outputs that sellers can take action with and in turn, increase productivity," he said.

The State of Sales report is based on a double-anonymous survey conducted by Salesforce from 8 March to 18 April 2024. The respondents were sourced from 27 countries across North America, Latin America, Asia-Pacific, and Europe. The full report contains more detailed findings and analysis.