SMBs are driving AI adoption, automating faster than their medium and large counterparts
Pipedrive, the easy and effective sales CRM for small businesses, announced the results of its annual State of Sales and Marketing Report 2023/2024. The study has yielded interesting results, revealing that 42% of respondents at smaller companies with 10 employees or less use AI, with only 37% and 23% using AI at medium (11-100 employees) and large (more than 100 employees) companies, respectively.
For the fifth year in a row, Pipedrive surveyed salespeople, founders and CEOs to craft a report that encapsulates the key trends affecting the industry over the last 12 months. Amidst a rapidly changing business environment and ongoing economic challenges, sales professionals are embracing new AI technology, while keeping irreplaceable social and technical skills that they have mastered–including the ability to connect, understand and respond to changing customer needs.
Among the survey findings, the data points to key areas sales teams are investing in, and sentiment on how automated tools will impact overall team functions and customer relationships. The report includes deep dives into performance and ways of working, digitization in sales and marketing, and overall sales trends. New to the report this year are sections of the survey focusing on workplace wellbeing, women in the workplace, and overall gender diversity and inclusivity.
“This past year has been unprecedented, marked by economic challenges and breakthroughs in AI technology. As we stand on the verge of a new era, we have already seen AI-driven innovations boosting business growth with remarkable accuracy and efficiency, “ says Pipedrive CEO Dominic Allon. “Our latest Sales and Marketing report, based on insights from sales professionals, founders, and CEOs, highlights the resilience and adaptability of sales teams across industries. Despite the rise of AI, the importance of human relationships, value-based selling, and other essential skills remains paramount in the industry. We hope this report provides actionable insights and inspires you to leverage technology for your business success.”
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Working additional hours does not equal better results
In 2023, sales performance saw a significant improvement, with 71% of salespeople regularly meeting their quotas, a 19 percentage point increase from 2022. Despite this increase, the survey found that working additional hours did not correlate with better results, as those who worked more were 10% less likely to hit their targets.
SMBs are leading the charge in AI adoption
AI tools are used by every third respondent in the survey, but the share is even higher among smaller companies, which are more likely to be interested in solutions that save time. Bigger companies seem to need more time to adopt and onboard new tools. 38% of all respondents indicated that AI will have the largest impact on their work in the future.
Companies of all sizes are optimistic about AI
The majority (76%) of respondents are optimistic about AI’s future role in supporting their professional activities. Concerns around AI causing team reductions are minimal, with only 8% expressing such fears. Looking ahead, an overwhelming majority (83%) of respondents believe AI will play a role in business, but not replace areas where the human factor is key.