As companies move into Q4, meeting this year’s sales quotas is paramount, but developing and achieving targets for 2014 is already at a boiling point.
According to research recently shared by The TAS Group from their Dealmaker Index Global Sales Benchmark Study, there’s good reason to create urgency around developing systematic sales processes and getting sales teams professionally trained and coached sooner rather than later.
The sobering data shared by The TAS Group:
1. 67% of sales professional don’t meet their individual quotas
2. 40% of salespeople cannot understand customer pain
3. Only 50% of all sales teams have a systematic sales process
4. The best sales reps are 250% better at qualifying leads
5. Win rate exceeds 50% for two-thirds of sales teams that DO have a defined system in place
If you’re selling Internet of Things solutions, the challenges become even greater, as new business models and sales strategies focused on different value propositions are critical to increasing sales velocity and driving revenue. Specific questions asked of a multitude of stakeholders will drive sales success in IoT. Qualification, pain identification and missed opportunities extraction must be part of a unique sales process.
At INEX Advisors, we are seeing these impacts firsthand.
We recently helped one of our clients increase the number of deals their sales team closed by 315% in just six months by implementing a systematic sales process, developing very specific effective questioning techniques to uncover and understand prospect pain that drives buying urgency, and coaching successful forecasting and pipeline management techniques.
If your sales teams face any of the challenges mentioned above, we would like to offer you a complimentary analysis of your current IoT sales and business development strategy.
To schedule this appointment or to learn more about how INEX Advisors can help you achieve your sales targets, please contact Kathryn Bertrand for scheduling at email@example.com.
Pam Sefrino is principal at INEX Advisors, a technology intelligence and advisory firm based in New Bedford, MA. The firm focuses on helping clients and partners define and achieve success with their most promising growth and investment opportunities, concentrating in Internet of Things, Machine to Machine (M2M). Sefrino has more than 20 years of B2B management experience, with a focus on helping companies drive sustainable revenue through the strategic implementation of comprehensive and unique business development, marketing and sales management plans. Follow Pam on Twitter @psefrino and INEX @INEXAdvisorsLLC