Fredericksburg, VA (PRWEB) April 20, 2020
Selling Power is pleased to announce the release of findings from new research led by growth intelligence partner AuctusIQ based on 25 years of empirical studies in sales performance and transformation.
In a time of uncertainty and change, it is more apparent than ever that organizations need to reset and shift sales practices to survive and thrive long-term. This report demonstrates where those shifts must occur to maintain and accelerate growth through a down and slow-rising economy. The report, “Five Factors of Sales Transformation and Cost-Effective Growth: Best Practices of Fast-Growth Organizations” can be found at https://bit.ly/3crwJIj.
As the market is hit by unprecedented challenges, sales organizations are forced to rethink their strategy to come out ahead, says Dr. Courtney McCashland, co-founder and chief of science and strategy of AuctusIQ, who directed the research and analysis. “This data provides insight to bring valuable impact to our clients and partners,” she adds.
Five Practices That Matter Now More Than Ever
The study uncovered significant relationships between what sales organizations are doing and how fast they’re growing. These relationships (found across segments analyzed by size of business) were most pronounced in small to mid-sized organizations with average annual revenues of $250 million.
The study revealed that organizations must pay attention to two components: talent and process. The relationship between the two is critical and tremendously strengthens the outcome when used in parallel, not as silos of sales strategy.
A strong CRM and sales strategy are indicative of high-growth outcomes, but years of empirical data, confirmed again through this timely study, denote the level of sales force talent greatly impacts the return on investment. A highly disciplined sales operation must surround a CRM and sales strategy to make an impact. This denotes first understanding the skills and traits of the sales professionals using these resources and practicing these skills, and then surrounding them with a structured approach to coaching through every step of the sales process.
High-growth companies not only denote a high return on investment in a CRM and a selling system in the top 20 percent of the industry, but a strong training program on deal strategies that is combined with highly skilled sellers who create a strategic advantage for the organization.
Low- to no-growth organizations reported one or two of these components, but not all five as strengths across the sales force. The combination of these factors is critical to accelerated business growth and, in today’s market, simply surviving as an organization.
When applied, this research could save and strengthen organizations that might experience a more detrimental outcome without this knowledge.
Selling Power CEO Gerhard Gschwandtner says his company’s research team, which has conducted hundreds of studies over the past four decades, found the results of AuctusIQ research “stunning.”
“Savvy sales leaders are preparing now to boost growth in Q3 and Q4 as we stabilize and recover from Q1 and Q2 dips,” says Gschwandtner. “This report contains highly valuable data that should be used as a road map for future success.”
Troy Kanter, co-founder and CEO of AuctusIQ, adds that every organization is focused on how to achieve growth and transformation right now.
“The most common mistake executives make is to throw money at it—race to fill open territories or double down on activities that don’t necessarily lead to increased win rates,” he says. “Many times, this just adds to the expense and the challenge rather than solving it. If you really want to drive cost-effective growth, especially during a time of down economy, you need to understand your talent, coaching, and deal intelligence. You must have a solid system in place that provides value across your people and your processes. High-growth organizations are able to apply these five best practices effectively because they understand the elements of talent, leadership, and deal strategy.”
LIVE WEBINAR ON MAY 5: “Growing Business in a Challenging Market”
Gschwandtner and Kanter, along with Courtney McCashland, AuctusIQ co-founder and chief science officer, will address the findings of the report in a live Webinar, “Growing Business in a Challenging Market,” on Tuesday, May 5, at 2pm Eastern Standard Time. Register for the Webinar at https://bit.ly/2XC97fW.
ABOUT THE METHODOLOGY: The study tested 20 growth predictors culled from 25 years of empirical sales force studies conducted by AuctusIQ research scientists across hundreds of sales organizations and thousands of sales teams. AuctusIQ researchers narrowed their investigation to factors with a long, empirical history of linkage to growth.
ABOUT THE RESPONDENTS: The respondent pool spanned three categories: small businesses (defined as under $250 million annual revenue), medium-size businesses (between $250 million and $1 billion annual revenue), and enterprise organizations (over $1 billion in annual revenue). Researchers divided respondents into four growth categories based on annualized growth over three years: no growth (six respondents), 1-15 percent growth (85), 16-30 percent growth (26), and 30-plus percent growth (10). They analyzed each growth segment against the 20 growth predictors and, through regression analysis, sought to identify some of the causal relationships underlying the data.
AuctusIQ is a sales growth acceleration system that applies winning methods and practices to sales organizations through performance-based analytics. The AuctusIQ platform delivers three core solutions to focus sales talent on high-impact activities scientifically proven to accelerate growth. Since its inception, the company has empowered large global firms to double close rates and minimize the cost of customer acquisition, among other things. For more information about AuctusIQ visit https://www.auctusiq.com.
About Selling Power
In addition to Selling Power, the leading digital magazine for sales managers and sales VPs since 1981, Personal Selling Power, Inc., produces the Sales Management Digest and Daily Boost of Positivity online newsletters (https://www.sellingpower.com/newsletters), as well as a series of five-minute videos featuring interviews with top executives. Selling Power is a regular media sponsor of the Sales 3.0 Conference (http://www.sales30conf.com), which is attended by a total of more than 1,000 sales leaders each year.