No matter the industry, there is always room for improvement in terms of sales productivity. Every year, companies spend close to $13 billion on tools and software that are meant to accelerate the overall sales process. Specifically, the typical organization spends $24k per person on sales productivity; however, nearly half of those organizations have no way of measuring the effectiveness of that spending. Unfortunately, without the ability to analyze the effectiveness of that spend on sales productivity and reaching company goals, it takes more than nine months for half of sales reps to prepare before contributing to revenue goals.
Even though 2/5 companies believe they are putting their most significant productivity initiatives towards training and on-boarding, lack of insight into their efforts will prevent them from genuinely improving over time. One-third of CSOs believe their enterprise’s ability to hire successful reps needs improvement; in reality, it is usually management of training initiatives that need improvement.
Besides hiring new sales reps, sales productivity can be majorly improved through the implementation of business and sales intelligence. With business intelligence tools, sales leaders can analyze the effectiveness of specific sales techniques and methodologies and apply that knowledge to improve training initiatives. When sales reps have access to automated tools that provide information and resources that otherwise would have taken days to discover or document, they can spend much more time selling- and surpassing revenue goals. Not only does access to sales intelligence improve individual rep productivity, but it may also increase the accuracy of sales forecasts by up to 61%. This information provides managers with the ability not only to understand their current reps better individually, but it may also offer the best opportunity to maximize ROI in their training initiatives as well.
About Gryphon Networks
Gryphon Networks provides cloud-based technology and systems that automatically capture, control, and visualize sales and marketing activity from any device to improve management effectiveness and reduce risk. More than a dozen Fortune 100 clients, including some of the largest banks, brokerage, insurance, and consumer services firms, are among Gryphon’s 300+ clients in North America.