Do you know what your sales force costs you? Our clients helped us figure it out, and they came up with the average cost of one hour of selling time. Guess what, it's pretty high - at least $1,100 an hour. That's for a sales person with a million-dollar revenue target. Higher targets, more customer or service delivery time, and the Opportunity Value goes way up (one client weighed in at $18,750/hour).
So if your sales people waste five hours a week on unproductive activity or unqualified prospects, they are throwing away a cool $5,000 or more. Each. Every week. Times 52 weeks. Ugh! I know you're cutting costs on everything else; why not look at this one?
We've been running a study on sales force productivity since February 2008. So far the results are troublesome. 63% - yes, you read it correctly - of the people surveyed report that their sales productivity is either "Leaking Like a Sieve," the lowest level of productivity, or "Call the Productivity Helpline," the second lowest level. Only 8% were already at the highest level. Many of the things that improve productivity are surprisingly easy to find and fix.
Now that the economy is "deteriorating," "troublesome," "turbulent," or just plain miserable, this is the best possible time to repair the productivity of your sales efforts.
Download our interim report on sales productivity and see how you compare. You can also assess your own productivity, even get a report on your entire team.
Thursday, October 23, 2008
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