The Three E's of Boosting Sales Productivity
Here are three key research metrics that caught my attention and reveal the challenges with current sales enablement strategies:
1) The Value Gap: The number 1 issue identified by sales and marketing execs as to why sales growth goals are not being achieved is not the lack of enough sales reps, adequate training, pricing or product issues, but sales reps’ inability to articulate value in their customer conversations! Jim Ninivaggi, the Services Director for Sales Enablement at leading research firm SiriusDecisions, reported from the main stage that over 71% of respondents indicate a growing value gap as the top issue above all others: Frugal prospects need to understand the bottom-line impact and ROI of any proposed solution, while sales reps haven’t evolved from traditional product pitches.
2) A Failure to Advance: As a result of not being able to provide valuable insight or differentiate the value of their solutions to buyers, up to 80% of marketing leads don't advance, and only 7% of sales reps get a 2nd meeting, this according to research by Forrester.
3) Repeating Insanity: Unfortunately, many organizations are repeating the mistakes of the past, but the research clearly shows that the same old strategies won’t work. The current strategies of revenue growth via hiring more sales reps and throwing a ton of training and content at them are less than productive. Mark O’Connell, CEO of SAVO Group reports that sales reps fail to retain 80% of what they learned just 3 weeks after sales training.