According to a survey conducted by CSO Insights,
companies fail to meet their revenue goals for the following reasons:
1. New Sales Rep Ramp-up Time.
The time it takes to recruit, hire, onboard, and train a salesperson takes too long. The process is often chaotic and unorganized. It’s not uncommon for new salespeople to be hired, pointed in the right direction, and left on their own to figure it out. Months go by and the sales rep may leave out of frustration or be let go because they failed to deliver. Time and money wasted and the process starts all over again.
2. Low Win Rates.
According to the CSO Insights survey, the average win-rate (closing %) is less than 50%. This means that sales reps are spending more than half of their time chasing prospects and opportunities that will never close. A low win rate can be caused by a number of factors including; target markets and prospects are not prioritized, the sales process is not defined, or poor sales skills.
3. Sales Goal Attainment.
50% of sales reps surveyed did not meet their required sales quota. Companies set quotas and budgets based on sales goal attainment. When sales reps fail to meet their quota, the cost of sales increases and companies must scale back on growth initiatives due to shortfalls in projected revenue.
4. Sales Rep Attrition.
It’s no surprise that if the conditions outlined above are common, then we shouldn’t be surprised that turnover among sales reps is high. Competent sales reps are going to leave to find opportunities that
provide a greater opportunity for financial success.
HOW CAN WE HELP?
At AcSELLerate we provide a proven path to help you build a scalable sales organization that exceeds expectations. We have a defined process that is customized to your business.
Our model to build a scalable sales organization that exceeds expectations is comprised of the following components:
A Sales Playbook defines how you sell your products and services to your customers. A Sales Playbook ensures that your team is equipped to meet their objectives and that they are executing a common plan. Sales reps are not working independently but instead following a defined plan to meet company objectives.
Sales Rep Coaching
AcSELLerate Sales Coaching is a comprised of weekly meetings with the sales team and individual one-to-one coaching sessions. The weekly team meeting includes content that is motivational or related to sales skill development. It’s also an opportunity to share sales successes and challenges across the team so that team members have the opportunity to share insights and experience with the team.