Missed your 2017 targets and looking for a turnaround in 2018 – blame sales that should solve things!
Let’s face it, that’s what most companies have been doing for so long that it is expected. What a great way to motivate that is for the sales team for the year to come.
As I was told a long time ago, whenever you point a finger at someone – don’t forget that three fingers point back at yourself.
So what can we do differently? Well, maybe taking a more holistic look at the ability of your organisation to generate revenue might be a good place to start.
If generating revenue is all about taking a customer on a journey with you, from not needing any product, solution or service to making a decision to purchase from you – how can you achieve that in the most productive way as a complete organisation? Business leaders around the world have told us that their end-to-end productivity for acquiring new business is just 1.92% and that it has been falling year on year for more than a decade. Yes, they need nearly 50 new prospects going into the process to generate a single order at the end! That can’t all be down to the sales team not performing.
In a digital, an ever changing, more and more buyer centric world – how do you most effectively connect with your potential buyers? If 60% of the Buyer’s Journey is completed before/if you hear from them – how do they want to research or learn about potential solutions and how do you connect with them during this period?
Instead of simply blaming sales because they are the ones responsible for finally closing orders, isn’t it time to look at your effectiveness across the whole revenue generation process and buyer’s journey? What does that involve?
Well it’s not just sales. In progressive companies the scope takes in the performance of:
People and management
Strategy and planning
Products and services
Technology , process management
Revenue isn’t something created just by the sales team.The organisation has to be fishing in the right ponds, with the right bait, catching the right fish, using the right messages, delivered using the right media, at the right time, in the right manner to get them interested, and then they need to be quailed and passed over to sales, who then have to have the right skills, tools and talent to convert them – and then to retain them, the products and services need to be the right ones delivering the right value at the right price.And all of this is continually subject to the volatilities of buyer sentiment, market conditions, technology and a host of other external variables.
Why then is it all typically left to sales to figure out where the revenue’s going to come from???
Diagnose, Design, Deliver
By taking time to actually understand which parts of the end-to-end revenue generation process are in need of change and then focusing on improvements in those areas first, the chances of meeting targets are finally brought into reach.We’ve all been there. We think that we understand the situation, we build plans around our observations – and the results don’t meet our expectations.Why not carry out a fundamental Revenue Diagnostic Assessment on your business. You can then build plans that really address the obstacles to growth.
Unlock your Growth Potential - more revenue, faster, with less effort and cost.
Give us a call to see how we might help you identify blind spots and help reduce risk in your revenue plan.
Leslie R Hines is a partner with the RPM Group who are specialists in sales and marketing productivity and pipeline yield improvement.