Empowering Your Sales Team to Succeed
Simply adding “feet on the street” typically isn’t the solution to growing revenue. Driving improvement in sales productivity and decreasing sales turnover are the foundation to increased revenue and market share.
The Strategy Development team will work with you to ensure you have a sound territory coverage model with logical territory design. We will then support your team with management processes that cover the spectrum from proper employee selection through success metrics and sales professional development. After the processes are implemented you will realize lower sales turnover, higher productivity, and increased revenue and market share.
The Strategy Development process was developed through real world research. The equation for revenue is quite simple. The number of opportunities in your pipeline times average transaction size times your closing ratio. We examined over 2,000 sales professionals and were drawn to two very compelling conclusions:
- First, we noticed that the closing ratio across these 2,000 sales professionals ranged from 18% - 21%. Many companies focus all their sales development efforts on improving the closing skills of each team member but if the range is 3%, and you move a sales professional from 18% to 19%, you are effectively increasing revenue by 5%. More important it is a one time improvement. Once this range was understood, it became apparent that the most effective approach to increasing revenue was to get more at bats or increase the prospect pipeline.
- Second, we found that most sales professionals find themselves in a key part of the sales process at the wrong time. Positioning your product or service prior to understanding needs is the biggest offender.
Bearing these conclusions in mind, we developed our process to create and maintain high quality, data driven territories while driving account coverage to the most lucrative opportunities within the given territories. Further, we provide the programmatic inspection points to drive accountability and development.
To learn more about how we can empower your sales team to succeed, contact us at firstname.lastname@example.org