EVERY SALES MANAGER
SHOULD KNOW ABOUT
Knowledge is power! Having access to the best available
information is a vital aspect of almost any operation, but especially
important in the competitive sales environment. The following are
key statistics every smart sales manager should know:
A FULL 2/3
OF ALL SALES PEOPLE
67% of sales professionals do not attain individual quota.
23% of companies surveyed don't even know if their
sales force achieves quota or not.
OF ALL SALESPEOPLE
CLOSE AT LESS THAN 40%
When pursuing a "Qualified Opportunity"
17% Win less than a quarter Of their potential deals
37% win less than half of their potential deals
win more than half of their potential deals
THE BEST SALES REPS ARE
AT QUALIFYING LEADS
The ability to assess and qualify opportunities accurately is a
critical skill for any salesperson.
59% of sales team reps are viewed by their organizations as
being effective at qualification.
High performers are 2.5 times more likely to be good at qualifica-
tion than the rest of the population,
When a customer problem arises. it's tempting to panic and Offer
up the first solution that comes to mind. This can lead to disaster
when your "answer" ends up addressing a problem the customer
didn't even have. Or, even worse, didn't realize they had yet.
Only 61% Of sales professionals report feeling good about their ability
to uncover customer problems - and those reps are 28% MORE likely
to achieve quota.
OF REPS FEEL THEIR
PIPELINE IS ACCURATE
One study suggests that sa espeople spend on average 2.5
hours per week doing their sales forecasts. All of this effort
wasted on inaccurate forecasts is a critical issue that should
concern sales leadership.
OF ALL SALES TEAMS
DON'T HAVE A PLAYBOOK
O The real shocker here is that almost half of all sales teams don't
have a playbook. For the that do have a well-defined sales
process In place, the benefits are clear.
O Companies that follow a well-defined sales process are 33% MORE
likely to be High Performers.
The win rate exceeds 50% for two-thirds of companies that have
a defined process in place.
ONLY 520/0 OF SALESPEOPLE
CAN ACCESS KEY PLAYERS
While tending to the needs of all buying roles in a sale is important,
accessing key players is a critical skill that must be mastered.
Just 52% of sales professionals feel they are effective at accessing
key players in the buyer's organization.
Those classified as "High Performers" report being able to access
key players more than 60% of the time.
Those classified as "poor performers" report being able to access
key players less than of the time.
ALIGN SALES & MARKETING TO ADD
25% QUOTA ACHIEVEMENT
AND 15% WIN RATE
Overall revenue achievement is as much as 25% greater at
companies where sales and marketing are perceived to work well
High Performers are 57% more likely to come from companies
where Salas and marketing are well aligned.
Well aligned sales and marketing teams can account for a
15% increase in win rate.
MAKE THE COMPETITION
PART OF YOUR STRATEGY FOR
MORE HIGH PERFORMERS
With all this talk of High Performers, wouldn't you like to learn
how to make your own? Easy. just study up on your competition.
Building a competitive strategy that uses core sales methodology
supported by a structured mechanism to differentiate against
named competitors is an idea all leading sales organizations
LES CONTRIBUTION TO STRATEGY-
MEANS A 150/0
There is a definite correlation between how much a sales organiza-
tion contributes to a company's overall strategy and the success Of
their sales performance.
A study found that quota attainment increases 15% when the
sales organization contributes to overall company strategy.
Companies classified as "High Performers" (where average
achievement Of quota is over 75%) display this behavior
53% of the time.
Knowing the Stats: Smart Managers Take Action
Set quotas and give your sales team
the tools to reach their goals
Make sure your entire team, not just
the super stars receivecoaching
Implement methodology for accessing
key players in the buyer's organization
Design programs to ferret out customer
problems and offer solutions
Show no mercy when cleaning
Allow sales to contribute to overall
Align sales and marketing
Stress sales qualification
Make the competition part of
Have a playbook