Sales Tech Is Booming In Response To Covid [Report]

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Sales Tech Is Booming In Response To Covid [Report]
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New Forrester Wave Report Shows Sales Tech is Booming in Response to Covid

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Q2 2020 hedge fund letters, conferences and more

Recently, The Forrester Wave™: Sales Engagement, Q3 2020 was released, and it has some interesting data related to e-commerce sales.

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Why Does This Matter

2020 will be remembered as a watershed moment when B2B buying and selling changed forever. While the digitization of the buying and selling process has been underway for some time, the hardships from COVID-19 have dramatically accelerated this trend. With 53% of white-collar workers planning to work from home for the foreseeable future, sales engagement (SE) and adjacent sales technology categories are in the right place at the right time. In the past 16 months, SE vendors raised more than $250 million in venture investment with $62 million of that raised in 2020.

Great Write up from Mary Shea on the Forrester Wave

Big Takeaways On The Sales Engagement Category

According to the report, 2020 will be remembered as a watershed moment when B2B buying and selling changed forever. While the digitization of the buying and selling process has been underway for some time, the hardships from COVID-19 have dramatically accelerated this trend.

  • With 53% of white-collar workers planning to work from home for the foreseeable future, sales engagement and adjacent sales technology categories are in the right place at the right time.
  • In the past 16 months, sales engagement vendors raised more than $250 million in venture investment with $62 million of that raised in 2020.
  • 41% percent of B2B companies recently surveyed have reduced sales headcount, and 10% reinvested the cost savings into sales technologies to drive better efficiencies and effectiveness.
  • Over one-third of the reference customers surveyed for this evaluation stated they planned to increase licenses with their sales engagement vendor.

Link to Full Release: https://www.prweb.com/releases/groove_named_a_strong_performer_in_sales_engagement_q3_2020_analyst_report/prweb17380690.htm

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Jacob Wolinsky is the founder of ValueWalk.com, a popular value investing and hedge fund focused investment website. Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and four kids in Passaic NJ. - Email: jacob(at)valuewalk.com - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. I also own a few grams of Gold and Silver

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