Boosting Sales Efficiency in Tech Companies Even During Economic Slumps: 4 Proven Strategies
Successful consulting firms consistently refine their business models and invest in their consultants' efficiency to increase revenue without inflating marketing expenses.
Studies indicate that the median productivity for consulting firms is essentially static. Only one in five increase revenue 10 percentage points faster than marketing and business development expenses in a given year, and only 3% do so consistently over four years
Even the fastest scaling firms can effectively boost their revenue at a pace that far surpasses the increase in sales and marketing expenditure.
In today's digital era, most executives perceive a mixture of enhanced training, demand generation, and the strategic deployment of a selection from the approximately 10,000 available digital sales and marketing tools, as the path to the top.
Rarely do they consider optimizing their sales structure. However, the upheaval caused by the Covid-19 pandemic and the swift adoption of virtual selling has left executives reluctant to reassess their sales structure. However, successful businesses understand the need for this; they realize that aligning the right staff, with the right tasks, for the right clients, at the right stage in the sales process, is an evolving procedure that requires regular fine-tuning. This approach minimizes staff turnover, accelerates the onboarding of new sales staff, and ensures the right sales experts engage with customers at the right stage in their journey in a cost-effective manner.
Opportunities in the Sales Structure
Leading companies consistently adopt four key strategies to optimize their sales structures.
Streamlining Specialty Sales Coverage
The proliferation of specialized sales teams often results from growth via acquisitions or the launch of new products. However, if unmanaged, these roles can become redundant, leading to overlapping duties for sales reps and causing frustration for customers and reps alike. By ensuring the salesforce is well-versed with the new products or buyers, businesses can restructure these specialist organizations to avert such issues. This streamlining enhances customer experience and, by reducing total customer interactions, significantly improves team productivity. For instance, Dell experienced a roughly 20% jump in rep productivity after merging its server and storage specialist teams a few years post-acquiring EMC.
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