10 Things Every Sales Manager Needs to Know

Sales-Manager-Needs-to-Know

Succeeding in a high-pressure sales environment isn’t just about having a strong personality. It also involves being able to take information, manipulate that information, and use it to create your own dynamic approach to sales performance.

Sales Performance Statistics

Knowledge is crucial in the sales world. Here are a few tidbits of knowledge that can help you to perform better in your job:

1. 2/3 of all sales individuals miss the quota. 23% of the companies asked in a recent survey admitted that they don’t know if their sales force is meeting the established quotas.

2. More than half of all sales individuals close at less than forty-percent. As they go after a qualified opportunity, 17% win less than a quarter of their potential deals.

3. The best sales representatives are 250% better at qualifying leads. Accurate assessment and qualification of a potential lead is a critical component to being successful in the sales arena. Someone who is a high performer is 2.5 times more likely to be skilled at qualification than everyone else.

4. 40% of sales individuals are not equipped to understand customer problems. It’s therefore important to avoid the temptation to panic and go with the first potential solution. Doing so fails to deal with the crisis. It can even reveal problems the customer was unaware of.

5. Only 46% of sales individuals would say their pipeline is accurate. It’s possible that as many as 2.5 hours a week are wasted on inexact sales forecasts.

6. Almost half of all sales teams do not have a playbook to work from. Studies show that those who have a playbook that emphasizes a well-defined process are far more likely to be successful.

7. Only 52% of sales individuals are able to access key players. Those who are considered to be high performers can get to key players 60% of the time. Those who are not considered to be high performers can get to key players only 40% of the time. See the difference?

8. Aligning sales and marketing can lead to a 25% rise in quota achievement and a 15% rise in the win rate. There is a potential to add as much as 25% additional revenue.

9. Those who include studying up on the competition as part of their sales strategy are likely to be higher performers.

10. Allowing the sales force to contribute to overall company strategies can raise revenue as high as 15% across the board.