What is the state of the market? How are businesses winning more growth now?

 

Winning online – with video 

Aha! Moments are vital to capture attention and engagement. Creating on-demand videos of your products and services key 3-5 top features excites potential buyers – significantly lifts engagement and sales potential.

Call To Action (C.T.A.) buttons

Have multiple C.T.A. buttons throughout the aha moments videos. 

Problems many businesses have with lifting demand

• Too Many I.C.P.s (Ideal Customer Profiles) sell to marketing, sales, and operations; Each has different pain points, needs, and goals. 
• Slow Time to Values (S.T.V.): from initial interest through buyer education to procurement and finally making a sale – it is getting longer. 

The following captures the state of the sales departments in 2022 – how does your business compare? 

Sales 

After researching, BridgeGroup has just released its latest S.D.R.s (salespeople) findings. They captured data from 

• 365 executives from a broad diversity of B2B companies 
• 69% North America-based and 
• 21% of global companies 
• $45M median revenues 
• $52K median average selling price (A.S.P.)

Key Findings About Sales Teams

 

Where do salespeople work?

Today, 90% of salespeople are either fully or partially remote. 

The Sales people problems

1. Long-term decline of previous experience required to be an S.D.R. – now one year, 
2. It takes 3.2 months to train new S.D.R.s and get them to total productivity.
3. The average tenure of S.D.R.s is 1.4 years. After training, businesses, on average, get one year of work before they leave. 
4. Promotion: the average time from S.D.R. to get promoted to an Account Executive was 12 to 23 months.
5. A 50% increase in salespeople voluntarily resigning. 

What are S.D.R.s daily metrics? 

One hundred and four daily interactions with potential buyers. Made up of 

• Phone 40
• Email 40
• Linkedln 16
• SMS 2
• Other 6

How many quality conversations with potential buyers daily does the average S.D.R. have? 

3.6 each day – each year for a decade, quality conversations have declined year over year. 

As more buyers move to online buying – this has impacted any need to engage with humans face to face. 

 

Attempts in Cadence – how many times do S.D.R.s and marketing contact potential buyers before they either give up or potential buyers – buy?

In 2014 the average Cadence was 7.3 events. Today it is 11.3 events. An event is an interaction, phone, email, or SMS, to name a few. 

 

Budgeted Sales Achievements

On average, only 63% of S.D.R.s achieve their budgets. 

 

Technology Sales Tools 

The median sales technology stack includes a CRM plus 5.0 additional software tools.

 

Leadership Compensation

Total compensation has remained relatively flat in real terms since 2016 (posting a compound annual growth rate of just 0.96%).

By comparison, compensation for Directors and Vice Presidents has grown modestly faster (1.7% CAGR).

 

2022 Remuneration average

MANAGER $137,000 

DIRECTOR $193,000   

VICE PRESIDENT $243,000

Regards 

David