The Sales Excellence Report

Johnny Grow

Research Reveals the 9 Best Practices to Achieve Best-in-Class Sales Performance

Sales Excellence Report

What's in the Report

The research revealed 9 sales practices that delivered order of magnitude impact to sales performance and revenue growth. Below are some of the findings published in the report.

  • Salesforces with mature sales methodologies outperformed their peers by an order of magnitude. They achieved an 11% higher sales win rate, were 1.9 times more likely to achieve year over year revenue growth and 1.8 times more likely to achieve their annual sales target. Without the right sales methodology, most of what follows is trial and error.
  • Sellers who used formal and predictable sales processes achieved 8 to 12% higher sales win rates than those who did not and were 48 to 66% more likely to achieve their annual sales quota.
  • The research sought to find the sales technique that most contributed to consistent and effective sales cycle execution and sales quota attainment. However, the data found that no single technique consistently drove results but that a group of 7 sales execution methods collectively contributed to extraordinary sales quota achievement.
  • The research found that while only 29 percent of companies have adopted formal Strategic Account Management programs, those adopters achieved 24 percent higher existing customer sales than those without these programs
  • The research sought to test the effectiveness of annual sales plans and their impact to revenue results. The data found that the difference among sales archetypes wasn't whether they created an annual sales plan or not; they pretty much all did. The difference was that for most laggards and medians it was a one-and-done exercise; whereas the Best-in-Class used it as an active operating tool throughout the period to measure progress, identify variances and implement swift course corrections as needed to meet the financial target.
  • The research found that only 21 percent of sales teams consistently develop sale opportunity win plans. However, that minority achieved a 5 percent higher sales win rate and 10 percent higher sales quota attainment. The Best-in-Class sales leaders consistently prepared sales win plans 4 times more frequently than Medians.
  • The combination of a formal price strategy and active price optimization program directly contributed to 2 to 8 percent annual revenue growth. And while a minority of sales organizations implemented price optimization, those who did were 40 percent more likely to achieve year over year revenue growth.
  • Sales coaching was the single greatest contributor to improved sales productivity. However, not all coaching programs delivered a positive ROI. Only 23 percent of participants with informal and irregular sales coaching reported a positive ROI. But that figure more than tripled to 78 percent for participants that brought structure and regular cadence to the program.
  • Pretty much all participants used some form of sales analytics. But while most used the standard capabilities delivered with CRM software, the Best-in-Class took their analytics to a much higher level. The Best-in-Class sales leaders were 3 times more likely to use interactive dashboards, 3.5 times more likely to use predictive analytics and 4 times more likely to actively use artificial intelligence (Al).