Most of us like to talk about winning, especially in sales. But there exist lessons in losing too. In a recent SaaS Metrics Benchmark Report, companies shared a median win rate of 25-30%. Most salespeople are losing about 75% of qualified sales opportunities. That is huge.
Low win rates mean missed quotas, inaccurate forecasts and hard-to-achieve revenue plans. They increase client acquisition costs (CAC) for your organization and frustrate sellers, leaders and prospective buyers stuck in their status quo.
If your salespeople are on a losing streak, it is time to reassess your selling engines:
- Are you sending salespeople after truly qualified leads, or could your qualification process be improved?
- Once your salespeople engage qualified leads, are they enabled with the right knowledge, tools and skills to serve buyers as trusted advisors?
Likely, both these aspects of your sales process could benefit from some attention. Let’s give it to them.
ARE YOUR PROSPECTIVE BUYERS TRULY QUALIFIED?
Sending salespeople after poorly qualified leads sets them up to lose — and misrepresents true win rates. In qualifying leads, many sellers still focus on buyer budgets first and foremost, but that approach is outdated for today’s marketplace and buying trends.
At Mereo, we focus on four lead qualification criteria to help your sales force identify buyers to meaningfully engage:
- Alignment: Does the prospect match your target buyer and organization power profiles?
- Appropriateness: Does the prospect have a need that your solution will solve?
- Authority: Does the prospect have decision-making influence and the power to allocate budget for your solution?
- Action: Will the prospect have a sense of urgency to solve their pains — and to solve them now?
To harness the AAAA qualification framework, download the proven formula today and reach out to our experts.
IS YOUR SALES FORCE PREPARED TO SERVE BUYERS ALONG THEIR JOURNEY?
If your lead qualification funnel delivers highly qualified leads to salespeople — and win rates still suffer — examine how you can better enable your sales force.
Our Mereo experts focus on three legs to the revenue enablement stool:
- Buyer Insights: Do your salespeople understand your target buyer and how to approach them along the buyer journey to unearth pains and build trust?
- Sales Assets: Do your salespeople have the value messaging and tools to help them meaningfully engage prospects in compelling conversations all along the buying journey?
- Sales Skills: Do your salespeople have the right competencies and behaviors to serve as trusted advisors and see deals through to close?
Do not stop at simple revenue enablement either. Help your sales professionals become trusted advisors that Seek to Serve, Not to Sell®. If you manage this, you foster a sales force that is building meaningful relationships and is sharing true value with buyers. After trust is achieved and value is proved, these connections will look to your organization for help when they need it. This is how you achieve sustainable revenue performance.
Reach out to our experts for support with your enablement program, and download a copy of The Complete Sales Organization Guide to Seek to Serve, Not to Sell.