Friday, March 16, 2007

2007 Sales Effectiveness Study

After four straight years of economic expansion, companies are now developing and implementing plans to capitalize on changes in their competitive markets. The “Sales Effectiveness” study, fielded in Q4 2006 by MarketBridge in partnership with Sales & Marketing Management magazine, identifies the most effective sales strategies for maximum growth, while revealing major sales challenges going forward.

The insights of nearly 200 sales and marketing executives and managers generated some provocative findings, among them:
  • More than half of respondents said their sales forces spend 50 percent or less of its time actually selling. Furthermore nearly three-fourths said their sales forces spent 50 percent or less of its time in direct contact with customers.
  • Top three strategies for growth: Introducing new products or product extensions (45 percent); reorganizing the sales organization (39 percent); changing the focus on customer or market segments (35 percent). That said, exactly one-third said they had “high confidence” in their companies reaching their growth goals in 2007.
  • Greatest customer demands: Companies are strained to offer “new products at reduced prices,” and to follow up on those offerings with “better service.” Further, more than a third (34.7 percent) said they were just “somewhat prepared” to deliver on those customer demands.

The findings of the study will be highlighted in the May edition of Sales & Marketing Management magazine. For more informatin on the survey results please contact Mark Donnolo at MarketBridge