By Shelley Cernel
Only 1% of cold calls result in a meeting, and over 90% of B2B decision makers don’t respond to this type of outreach (Hubspot). So why do we keep doing it? And if it’s that unreliable, how are we supposed to effectively plan for 2018? An Aberdeen study found that the top pressure for both marketing and sales teams is hitting revenue goals, and a big driver of that success comes from improving sales effectiveness.
What is Sales Effectiveness?
To improve sales effectiveness, you first need to understand what the term really means. Sales effectiveness refers to the tasks that are performed with the ultimate goal of driving revenue. It is typically measured with regards to the quantity and quality of outputs obtained, such as the number of calls a rep makes or demos they set in a day. Related is ‘sales efficiency’, which is basically the speed of those actions.
How Does it Happen?
Inefficient, ineffective sales processes can cost businesses millions of dollars in lost revenue each year. And one of the most common sources of inefficiency and ineffectiveness in the sales organization is related to content. There are two main problems:
- Sales reps take too long to find the right material. In fact, it takes 18 minutes on average for a rep to find each piece of content.
- Reps are unable to locate any relevant collateral at all, at which point they may decide to recreate or make their own content.
According to IDC, sales reps performing these two activities cost mid- to large-size organizations up to $113.4 billion annually, nationwide.
Additional ineffectiveness occurs in the sales process when sales reps share content with buyers without knowing what works and what doesn’t or without customizing collateral and messaging based on the sales situation. When 2/3 of prospects make a buying decision based on vendor content (DemandGen), these are definitely missed opportunities to advance the sale.
How Can Sales Enablement Help?
A sales enablement solution such as SAVO aligns marketing and sales processes and arms sales teams with the tools and content to improve sales effectiveness. The benefits of having an efficient and effective sales process are well worth the effort. Sales teams empowered with sales enablement can expect higher productivity, a shorter sales cycle, and more closed deals.
Want to learn more about how B2B companies can create predictable and scalable revenue in the new year? Join our webinar on Thursday, November 30th, as Aaron Ross, author of the best-selling book “Predictable Revenue”, and Richard Harris, Director of Sales Training and Consulting Services at Sales Hacker, discuss strategies to drive sales effectiveness. Can’t ake it to the live session? Don’t worry! Register anyway, and we will send you the recording afterwards.
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