KermitdaFrog

Account Executive

Is Tech Sales a dying sales profession?

what's happening with tech sales? I don't hear the majority of tech sales people making a lot of money this entire year and forecasting not well for the upcoming 2024 year.

I am going to make half of what I made last year and I know I've upleved my sales skills/gotten better...

I've been in this for 7 years. but I'm hearing from friends in commercial roofing and light installation sales... having a few $60k months?

am I just in a really bad org that tries to make all tech sales orgs are not making money? or is this super common and it's time to sell something that is more of a need?

any new industry suggestions? or what do people recommend to be selling in software right now? any specific sectors within tech?

let's get this conversation going

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braintank

Politicker

Enterprise Account Executive

No, tech isn't going anywhere.

Bad tech (especially SaaS) will die, but good tech is here to stay.

I'm partial to cybersecurity.

KermitdaFrog

Opinionated

Account Executive

Cybersecurity is one I’m hearing. Also anything that is a digital transformation org.

I.e the larger logos that are deployed across an entire org with multiple tools in the stack

Pachacuti

Politicker

They call me Daddy, Sales Daddy

the problem with Cybersecurity is that its a VERY crowded market and every CISO already has his preferred security methodology.

oldcloser

Arsonist

💀

Exceptin’ when @braintank gets in there and introduces them to their new preferred method.

JustGonnaSendIt

Politicker

Burn Towns, Get Money

Also: It is not a sufficient business priority for many companies compared to other spending.

Cyber breach may cost you $1M - $10M in fines or goodwill. Operational outage may cost you $100M (see MGM).

For a company that makes $20B+, inventory, staff efficiency, and other more operational problems still carry a much higher value of resolution than cyber. At least in the USA.

If we ever get some kind of national data privacy regulations that actually have teeth, Cyber is going to take off like a rocket.

Sure, it's still a lucrative business and the priority is growing, but it's still not on par with solving core operational problems as a business priority.

KermitdaFrog

Opinionated

Account Executive

Operational outage - so can you name specific types of tech/SaaS products you’re thinking about here? That’s a great thought. Want to make sure I understand @JustGonnaSendIt

KermitdaFrog

Opinionated

Account Executive

@JustGonnaSendIt I know you’re active and probably get a lot of notifications. Wanted to bump this question

JustGonnaSendIt

Politicker

Burn Towns, Get Money

@KermitdaFrog Tech products that help with operations fall into several categories:
- Core IT systems (Route/switch, email, application servers, etc...)
- Planning systems (demand / supply / scheduling / logistics / inventory)
- Financial systems (transaction processing / authroiziation, POS)
- Building control systems (HVAC / Automation / Access control)

That's a quick list off the top of my head and I'm sure I missed some stuff others may see as important.

But you get the point. Cyber breaches that don't touch the ability to literally keep the lights on, emails flying, and money moving, just cost you for the data and the trust you lost or exposed.

Jaytea

Catalyst

N/A

Yeah I work for a cybersecurity company people are always gonna need it. It’s like the doctors of technology but I have noticed a lot more people not hitting quota. 2 yrs ago everyone was but I’m assuming it just a cycle.

KermitdaFrog

Opinionated

Account Executive

Talk to a guy yesterday who’s made - $400k/$400k/$600k who’s been in it the last 3 years. You’re speaking the truth @Jaytea

SonnyVaccaro

Good Citizen

Growth Lead

Cybersecurity is the best paying now. Well, the orgs that aren't "Partner first" are.

thefattestrat

Personal Narrative

Cloud Alliances

A partner-first model across all SaaS is key to success long-term.

CuriousFox

WR Officer

🦊

Sometimes it's good, sometimes it sucks. Sales in general.

SerialBiller

Executive

Account Executive

So fucking true

Sofakingbald

Praised Answer

There’s a tipping point where SaaS/Technology sales orgs “right size” comp.
Example:
Company has less than 5,000 customers with 100 AEs. They’re in hyper-growth mode. There are ~50 AEs at OTE+, with around 25-30 of those well over $500k. Once the company hits a growth number (let’s say, 10,000 customers)…they will regime change from hyper growth to maintenance/sustainability. This will lead to increased “efficiency” and “becoming ACME 2.0”, “more process oriented”, etc.

The new regime will add headcount, shrink territory, and ensure that the new pool of AEs will only have ~10% at OTE or higher, with a goal of ~60% of AEs to be no higher than 80% of plan. They will achieve this by quota adjusting and territory shrinking. That leaves room for ~30% of annual churn for the new crop of AEs/Sales “leaders”, which is typically fine for an established logo. This is just an example of the structure, but the goal is: “what is the least we have to pay sales people to sustain $x and y% growth?” That math will include attrition and retention.

To be clear, this isn’t always a bad thing - a lot of people are comfortable working the hours it takes to be middle of the pack at a well-liked company with great benefits. I worked less than 20 hours for a couple of years in my 30s and made nearly $300k in both of those years. It was a wonderful stint imo, because to me it was a win-win-win (me-company-customers). Where it got dicey was the management style…it typically gets very stupid, very quickly, with a lot of micromanagement and TPS-report style CRM nonsense. That’s what ultimately drove me out - I couldn’t handle Lumburghs.

If you’re a type A, live-to-work sort of person, I suggest Series C/D or even pre-IPO. Enjoy those 60-80hr weeks with the most insane pressure…and LOTS of money. I knew a then-28yo make over $1mm in b2b years. The “leadership” at those orgs are mostly the biggest clowns you’ll ever meet…big money makes people do and say really dumb s*&%. Plus, the poor ethics start to show more and more. But if you can put up with that, it can be a fast start to the good life (assuming you came from a middle class background like most).

I’ve been burned on two Series As now and won’t be doing that again. They are like new restaurants…if they can make it three years, they’ll probably survive. But man, those first two years are absolutely ridiculous.

Source:

Me, I’ve lived through it twice.

Opinion:
SaaS founders want to get rid of sales people by nature; they’re typically dorks (not in an insulting way) who can’t wrap their heads around why deals are so complicated - the “art” if you will. They think customers should just find them and buy the stuff after some testing.

Companies will always need articulate people to position and earn credibility in order to get other people to spend lots of money on things that aren’t commodities and/or basic necessities. I think Technology sales people are here to stay. If you want to make a lot of money in SaaS sales, anchor your position to size and velocity of deals as best you can - the bigger the deal, the bigger the check; the faster the deal, the more you can sell in a year.

Oh…and a bad territory at a great company will be just as impossible as the entire country at a Series A that sucks.

Anyway, here’s Wonderwall…

DataCorrupter

Politicker

Account Executive

Great way to end it.

Lumbergh

Politicker

Sr Account Exec

Yeah...I'm gonna need you to come in....on Saturday this week. We uh, lost some people and sorta need to play catch up. MMMMkayyy?
Honestly you had a good answer and a thorough one. Salud

technonaut

Valued Contributor

Solutions Engineering Leader

Thanks for wisdom; company stage is an important consideration; I like to stick with early-stage startups because of the drive required and the build-it mentality.
Tech sales is here to stay.

RealPatrickBateman

Politicker

🔪Amateur Butcher🔪

It's been said over and over again, but I will say it again.

TECH SALES ARE NO DIFFERENT THAN OTHER SALES JOBS.

Especially when you batch it into "Tech" like it's some very clear and defined vertical lol.

That's like saying "Car-gasoline prices are so high right now"....

The entire economy is "re-org'ing" "re-structuring" and of course, my favorite "re-imagining".

Reason being, just because your company took on "X" amount of investment/financing in the last few years, doesn't mean that your companies product or service is valuable to the market in the long term and that you will have a steady/consistent flow of customers. (This is generally a Founding/Exec Team mistep from over-funding/over-raising)

Add that in with the fact that companies are freezing and constricting budgets through Q1 2025 due to economic uncertainty from the Fed jacking interest rates. (The herd moves together, no one is taking chances)

And mix it in with the whispers of another "pandemic". (Another potential economy-shattering shut down?)

.... where are your customers going to come from? Where is their budget going to come from?

It's not just "Tech Sales"... it's just SALES lol.

Bateman OUT.

KermitdaFrog

Opinionated

Account Executive

Thanks for the response, Bateman. Congrats on your new venture you posted about some time back. Good luck with getting that started 🤙

RealPatrickBateman

Politicker

🔪Amateur Butcher🔪

Thanks, it's actually going really well!

Pachacuti

Politicker

They call me Daddy, Sales Daddy

Short answer - no, tech sales aren't going anywhere. But it certainly can be cyclical. And if you're selling tech which is being disrupted, time to start looking elsewhere for a job.

Selling construction-related items can be boom or bust. A couple $60k months does not equal a long lasting career - I hear that I and I "natural disaster repair" (which isn't a bad business to be in).

HVACexpert

Politicker

sales engineer

Construction can be cyclical, the reason why I like HVAC is everyone has it and needs it.

KermitdaFrog

Opinionated

Account Executive

Do you do commercial or residential HVAC? How has your income looked this year

HVACexpert

Politicker

sales engineer

Commercial/industrial. Depends on the sector, interest rates make it harder for private owners to pull the trigger on projects. Schools, hospitals, higher education still spending money though.

KermitdaFrog

Opinionated

Account Executive

Yep they’re always spending money. I’m
Considering finding stuff where people have really strong needs and it is a continued solution always needed regardless of times

sometimes it feels like a step down to me with not as much flexibility to balance with your personal life. How does work life balance look to you’ve?

oldcloser

Arsonist

💀

I’m all-in betting on what’s hot now and should be later. AI in Solar is the current wager. 3 weeks in and all indicators are green as of this writing. Trying to get homes to net zero without bringing my bank account with them.

KermitdaFrog

Opinionated

Account Executive

Can you explain more what you mean here @oldcloser?

oldcloser

Arsonist

💀

Yeah- just keeping it sort of vague for anonymity purposes. I just joined an early stage company with an AI spin on the biz model. The Solar industry is the most “sales bro” culture with the shitiest sales process anywhere. They train door-knockers!

The good sellers pad deals and forge contracts, basically robbing anyone they can. Even still people are buying the shit out of it. So, the new orgs place has regtech and martech built in with AI doing much of the lead-gen.

It all makes sense in paper. Gonna push it til my equity means something. Long way to go, but if any industry is ripe for disruption, the solar world is screaming for it.

KermitdaFrog

Opinionated

Account Executive

Girlfriend works in solar and yeah I hear ya

Thanks for the detail while also staying vague haha great perspective. I will be poking around into that as well 👍🏼

oldcloser

Arsonist

💀

When I get my process together, I’m hiring everyone. Only requirement is WR membership card… through Bravado Flex, of course.

KermitdaFrog

Opinionated

Account Executive

@oldcloser - what’s your timeline do you think?

Lmao I’ll get 3 cards if that’s the requirement

oldcloser

Arsonist

💀

Total process rebuild. 60 days-ish?

KermitdaFrog

Opinionated

Account Executive

@oldcloser how do I keep on the lookout to find this. I’ve seen people talk about DMing on here… don’t think that’s possible though lol

oldcloser

Arsonist

💀

gotta have an iphone - gonna look into Bravado flex as a means to spill the info. Just can't recruit in here.

WellImInSalesNow

Sales Development Representative

You’re right, the industry I’m in right now is literally becoming tighter and tighter.

Companies are buying other companies, merging, or just cutting out that side of the business all together meaning less prospects, more chances of the SMB team leaving or being cut, and just extra micromanagement from upper management.

I’m definitely getting out of the Rental and Inventory Management Space ✌🏿

Revenue_Rambo

Politicker

Director, Revenue Enablement

Follow the money. SaaS is drying up to an extent because VCs and other investors have gotten destroyed on a bunch of investments that were nice to have lookalikes and not true first of their kind disrupters.

AI is a the big buzz right now, but for every real company there are 100 paper tigers trying to make a quick buck.

You’ll just have to decide your level of risk tolerance. Do you want to swing for the fences? Or play it’s safe and conservative. Nothing wrong with either.

KermitdaFrog

Opinionated

Account Executive

Great advice. Where do you see the best sectors within Tech to be right now? I’m hearing cybersecurity and digital transformation software

Revenue_Rambo

Politicker

Director, Revenue Enablement

Those are good options. Also appears to be a mass exodus of accountants in the world so FinTech is also seeing a drive in demand.

JustGonnaSendIt

Politicker

Burn Towns, Get Money

Right but what is 'digital transformation' ?

It's one of these marketing buzz words.

Is it operational transformation (i.e. planning and execution)? data transformation (moving from excel to a BI tool)? moving mainframe workloads to the cloud?

DX means something different to everyone, and in my time around it, the priorities have shifted roughly every 9 months as a new shiny object pops up.

KermitdaFrog

Opinionated

Account Executive

Agreed with you here. Good call out. It is a buzzword that isn’t extremely strong to consider

Kosta_Konfucius

Politicker

Sales Rep

Not dead, but got punched in the gut

KermitdaFrog

Opinionated

Account Executive

What do you think are the best industries to be selling in at this moment?

Kosta_Konfucius

Politicker

Sales Rep

Generative AI or anything with GPT in the end since people just throw money at buzzwords

Marth

Opinionated

si vis pacem para bellum

I’m selling Gen AI now and I will say we get a ton of “ai tourists” with no interest in buying but just want to see what’s out there. The industry draws a lot of attention but very few 6 figure deals are getting done. A lot of companies are still skeptical

saaskicker

Celebrated Contributor

Enterprise AE

great intel

Diablo

Politicker

Sr. AE

Tech is going to be here. Things are slowing a bit at the moment but expected to ramp up again. Good to have products are affected vs must have.

KermitdaFrog

Opinionated

Account Executive

What do you think are the must haves right now?

HappyGilmore

Politicker

Account Executive

Not dead, but certainly going through a period where bad tech organizations won't make it out, and the good ones will rebound once things become more stable.

Sunbunny31

Politicker

Sr Sales Executive 🐰

Tech sales are not going to go anywhere. I've been around long enough to see two major busts and a couple smaller ones.
Mitigate the negative effects by working for reputable companies that sell tech that is essential. That generally means avoiding startups and so-called unicorns or rocketships.

If you're souring on your current company due to (lack of) attainment, could be a good sign to put your feelers out and see what else might suit you.

KermitdaFrog

Opinionated

Account Executive

Yep I have been working for these younger companies thinking that was the play due to opportunity and number of accounts to go after. I’m learning, during this down time, that is not the right play. Rather I need to focus on the larger names with multiple product lines that will be deployed for the entire org.

Is that what you’re hinting at here?

I am starting to look. Just trying to see what other people are doing or seeing as the best play to mitigate this current state.

I’m thinking cybersecurity or the digital transformation type of brands. Thoughts?

Sunbunny31

Politicker

Sr Sales Executive 🐰

I’ll be blunt and not hint. You need a solid company that has a solution that companies need. The company doesn’t have to be the biggest player, but in that case, they should be the top of an analyst chart on their segment, or at least in that upper right quadrant and not stagnant.

Bigger companies with multiple solution lines are great as long as you are working with the lines that are being invested in and not the ones that look as though they’re about to go into maintenance mode. There are dead ends there as well, so you’ll have to network into figuring out where to target your efforts.

Cybersecurity is important, and very much a requirement for companies. The caution I have about “digital transformation” is that it can be a meaningless buzzword, depending on who’s using it, when, and in what context.

KermitdaFrog

Opinionated

Account Executive

Agreed @Sunbunny31 with the digital transformation. Every company uses it

I’ve been researching since I posted. I’m thinking cybersecurity, infrastructure, large companies with multiple product lines. Thoughts on that thought process?

I love that first thought “companies don’t have to be the biggest player, but in that case, they should be the top of an analyst chart on their segment or at least in the upper right quadrant and not stagnant”

Hitthabricks

Executive

Enterprise Account Executive

The grass is always greener. Tech sales is terrible right now and may not improve for 1+ year but it WILL get better. Just may take a while.

Head of Strategic Enablement

I'm an introvert by nature and have had an excellent Tech Sales career. In my experience Tech Sales is a critical function that of course produces revenue, but also is the voice for why the tech matters. The if we build it, they will come mentality is very common and complete BS. My success has been driven by my ability to understand the tech, and communicate the value to prospect in their context... and then handle questions and objections with credibility.
If you can do that, and enjoy it, Tech Sales can be fantastic. There are plenty of empty suits trying to sell tech they don't understand by saying anything to close a deal. They may win in short term, but won't be able to sustain a 500k+ income year after year.

Enterprise Account Executive

Brands will always need partners to help them buy complex technology. What we're experiencing right now is the closing of a 20-year innovation wave; We learned how to email, sell things online, build communities and figured out there's a LOT of data floating around out there. Now we're seeing AI/ML platforms arise to connect all this data, do it faster, smarter and at scale.

Ten years ago, when "nobody" had any tech whatsoever, there were certainly some good years. But the gold rush is over - The ones who remain will need to improve their sales skills and be better product communicators to "sell".

Economic "headwinds" is the new buzz phrase but it's out of our (AE's) control. The nearer term issue is how much of tech, in these young years of software creation, is funded by investment vehicles which align directly to the FED rate. If you're a rep and don't understand how that flows, find someone and learn because it's the source of tech companies who are able to exist without turning revenue.

Urban Meyer has this principle of "E + R = O".... Event + Response = Outcome... You can't control the "Event" or the "Outcome" but you CAN control your RESPONSE. So what is our response to these changes and market conditions?

Work on our discipline in these lean years and the mental (mental health) awareness and fortitude we need to show up every day. We can improve our selling skills and how those skills are changing constantly. We can learn new skills that will make us better operators (ChatGPT? Midjourney?).

It's been a tough year, for sure. Next year looks to be as well. Time to buckle up, turn on some Deadliest Catch (always reminds me how not that bad cold outreach is), and keep moving forward.

kyler.petersen23

Big Shot

Director of Business Development and Channel Alliances

In my career, I have had the opportunity to work in direct and business development sales roles, where I have combined my passion for diverse industries. I have expertise in Customer Experience Solutions, CCaaS - UCaaS, and BPO Solutions, with a strong background in Conversational AI, Artificial Intelligence, Machine Learning, and Generative AI.

However, I want to acknowledge the challenges of the current job market, particularly in the saturated cloud VOIP and contact center providers space. It can be disheartening. Outsourcing, Cybersecurity, and Cloud Computing are safe pockets in the tech industry to be in. Trouble for those who are unemployed like myself is getting back in disheartening to apply for a job that seems perfect, only to find out that there are hundreds or even thousands of other applicants.

Despite these challenges, I remain optimistic and determined to find new opportunities that align with my skills and interests. I am open to exploring different avenues and taking on new challenges to expand my horizons.

If you have any connections, advice, or potential opportunities that you can offer, I would be incredibly grateful. Your support and insights could make a significant difference in my job search.

Thank you in advance for your time and consideration. I look forward to connecting with you and discussing potential collaborations. 😊

GDO

Politicker

BDM

It’s not going away. It’s just coming a bit down from the huge boom it had

KermitdaFrog

Opinionated

Account Executive

@GDO agreed. And the shiny ideas are dying. What types of products are you bullish on?

goose

Politicker

Sales Executive

Selling a “want” or “nice to have” will always fall behind the needs of an organization. Seems to me like SaaS sales got inflated with funding and sales people and this is a normal part of the process.

gaurav

Valued Contributor

Director Digital Experience

That make me curious!! What's good money in tech sales a year? (both base + comp)

wolfofmiami

Opinionated

🐺

Consider exploring emerging tech sectors, like cybersecurity or renewable energy solutions. These areas are hot right now and could provide better income opportunities. The key is to adapt and stay ahead of the trends. If you've been at the same company for 7 years, it might be time to look for a new opportunity, to re light that fire inside you to go out and prove yourself again. Or you could always look into sales management 🤷🏻‍♂️

Sr. Strategic Account Executive

We have to remember we were in one of the longest bull run markets, and most of the folks in tech have only known good times. The whole world is looking different right now.

nltri

Big Shot

Cybersecurity is recession-resistant

GodOfGords

Contributor

leadgen

Yes. Because one day we will all be dead. And who can do it better than us?

Account Executive

No, just have to find the right technology to sale. Critical infrastructure is never going anywhere. Cisco, Meraki, Juniper, Aruba infrastructure.

TheColdestColdCall

Executive

Enterprise Account Executive

I started my SaaS sales career in 2019, moving to a closing role in 2022 and I feel like I got the short stick after having witnessed the pre 2021 commissions everyone was getting. That said, I think anyone who can stick it out and perform in 2023 and beyond will reap the benefits for years to come.

In the end, it's all about your product and position in the market. A lot of losers without cash and NN capture will die off, get acquired for IP, etc.

thedue2.0

Good Citizen

VP of Sales

Funeral sales even slowing …. True story.

YoureMuted

Executive

Regional Sales Director

Having a great year in tech sales, just shy of 7 figures. Next years forecast looks to be the same. I’m not going anywhere, assuming they keep me.

ThatNewAE

Big Shot

Account Executive - Mid enterprise

IT IS NOT ! Don't scare me like this again. Evaaa.

Titanic

Opinionated

Senior VP - Sales

Especially in my industry, it’s not about the sales anymore. Anything tech can be found on the internet cheaper, even more than a distributor. Which leads to less room for markup. I’ve found it best to not tell the customer the exact products we’d be using, but more of a general idea of what we’re installing and white label it. Everything now is all focused on RMR (Recurring Monthly Revenue.) The manufacturers aren’t even making tons on the sales of devices, they’re just aiming for that RMR.

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KermitdaFrog

Is Tech Sales a dying sales profession?

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