In a recent Business Performance Benchmark Study performed by Altify, over 400 enterprise-level executives and sales leaders were surveyed to understand the issues that they face today. The data painted a clear picture. According to the report, “The most successful sales leaders in 2018 will be those who take a customer first approach and seek to deliver optimum value.”Here are some key stats from the report that support the customer first approach -- from supporting your front line to cultivating equality -- and what you can do about it.87% of sales leaders ranked customer retention as their top strategic imperative for 2018.
Key takeaway: Customer retention is the top priority in the growth rate of businesses and more important compared to a year ago.
59% of sales leaders believe their sales process is mapped to the customer
Key takeaway: Understand your customer and map every stage of the sales cycle to the customer’s journey. Use technology to enable teams and automate processes.
Companies with effective front line sales teams report a 12% shorter sales cycle
Key takeaway: This data suggests that the front line is possibly the most important part of the sales cycle. Support your front line as much as possible with proper training, tools, processes and methodologies. Coaching is key here.
44% of salespeople feel marketers understand the customer
Key takeaway: We all know that sales and marketing need to be aligned, but did you ever consider it from the view of the customer? Both sales and marketing have tribal knowledge, so work together and trust one another to gain a clear picture of the customer.
Companies that effectively map their sales process to their customer’s buying process report a 16% increase in deal size
Key takeaway: Effective mapping goes beyond accounts and contacts. It requires real insights and establishes that 360-degree view. Investing the time and effort breeds real results, as shown in the data point above.
Companies that effectively maximize the value of their deals have 80% access to greater players
Key takeaway: We all want to work with the key decision makers at our customers’ organizations. It’s a way to understand their business and build relationships. How do you get that access? This data shows that focusing on the value of the deal can get it. And ultimately, that helps companies deliver the greatest value to customers.
53% of sales leaders trust peers when making a purchasing decision
Key takeaway: This supports what we already know: we trust our friends. This is why reviews are so important. It holds true through all roles, industries and departments. The study recommends, “Ensure sales teams have ready access to reputable peer and independent content, at the right time, so they can move opportunities through the funnel.”
Companies with a “Good or Great” track record in diversity have a sales cycle that’s 60 days shorter than those with a poor track record
Key takeaway: Cultivating equality is important to every aspect of your organization, and your customers notice. Embrace diversity and you’ll win in every sense of the word.
Cultivate a culture of diverse, motivated and tech-savvy salespeople. Arm your team with the tools they need to succeed. Do the work to deliver that detailed, complete customer insight. These data points prove that now more than ever, a customer-focused approach is so important. Learn even more in the Business Performance Benchmark Study from Altify.
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