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2011 Sales Leadership Priorities Survey Results: The Americas

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An analysis of the 2011 Sales Leadership Priorities survey for the Americas.

An analysis of the 2011 Sales Leadership Priorities survey for the Americas.

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  • 1. growth team m e m b e r s h i p™ 1Americas 2011 Sales Leadership Priorities Survey Results Executive Summary . . . . . . . . . . . . . . . . . . . . . . . . 2 Section Sales Effectiveness and Practices . . . . . . . . . . . . . 12 What is the Growth Team Membership™ . . . . . . 3 3 intro Sales Leadership Overarching Challenges . . . . . . 19 Survey Purpose and Respondents . . . . . . . . . . . . . 4 Section Section External Factors Shaping Sales Leadership’s 1 Strategies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 4 Respondent Demographics . . . . . . . . . . . . . . . . . 20 Section 2 Key Sales Leadership Challenges . . . . . . . . . . . . . . 8 in cooperation with ®The contents of these pages are copyright © 2011 Frost & Sullivan. All rights reserved.
  • 2. growth team m e m b e r s h i p™ 2011 survey results 2 Executive Summary Main External Challenge The challenge is adjusting to changes in customer buying behavior intro Section Key Internal Challenge Internal Challenge Root Cause 1 The challenge is identifying and qualifying high-potential prospects The challenge’s root cause is staff limitations Section 2 Section Resources Tools and Practices Social Media in Sales 3 Respondents foresee little to no change Respondents utilize traditional tools in budgets or staffing in 2011 such as sales automation and customer Social media is typically used to identify and qualify leads relationship management software Section 4The contents of these pages are copyright © 2011 Frost & Sullivan. All rights reserved. Source: Growth Team Membership™ research.
  • 3. growth team m e m b e r s h i p™ 2011 survey results 3 What is the Growth Team Membership™? The Growth Team Membership™ (GTM) is a GTM provides best practices, events, and services to subscription program that supports executives within enable executives to address internal challenges within the functions reporting to the CEO. their companies. CEO’s Growth Team™ GTM: Creating Client Value GTM’s case-based best practices help executives: R&D/ intro Innovation Corporate Sales Sales Strategy Leadership Leadership Speed the design and implementation of initiatives by Section not reinventing the wheel 1 Marketing CEO Corporate Development Save money and reduce risk by avoiding mistakes made by other companies Section Market 2 Investors/ Finance Research Accelerate problem solving with a cross-industry perspective Competitive Intelligence Section Improve their function/company’s performance and 3 productivity Section 4 Email us GTMresearch@frost.com Visit us online www.gtm.frost.comThe contents of these pages are copyright © 2011 Frost & Sullivan. All rights reserved. Source: Growth Team Membership™ research.
  • 4. growth team m e m b e r s h i p™ 2011 survey results 4 Survey Purpose and Respondents Research Objective Methodology Survey Population In Cooperation with To understand the most Web-based survey platform Target respondents were ® pressing external and internal Manager level and above sales challenges shaping sales executives from companies executives’ 2011 planning . throughout North and Latin America . intro Section 1 Section 2 Section 3 119 survey respondents Section 4The contents of these pages are copyright © 2011 Frost & Sullivan. All rights reserved. Source: Growth Team Membership™ research.
  • 5. growth team m e m b e r s h i p™ 2011 survey results 5 intro Section 1 External Factors Shaping Sales Leadership’s Strategies Section 2 Section 3 Section 4The contents of these pages are copyright © 2011 Frost & Sullivan. All rights reserved. Source: Growth Team Membership™ research.
  • 6. growth team m e m b e r s h i p™ 2011 survey results 6 Sales strategies are driven by changes in clients’ purchasing behavior and product commoditization Top Three External Factors External Factor 1 Changes in customer buying behavior (14%) intro Section 1 External Factor 2 Product commoditization pressures (13%) Section 2 Section 3 External Factor 3 Need for product and service innovation (14%) Section 4 Survey Question: Please specify the Top Three external factors shaping your sales strategy in 2011 .The contents of these pages are copyright © 2011 Frost & Sullivan. All rights reserved. Source: Growth Team Membership™ research.
  • 7. growth team m e m b e r s h i p™ 2011 survey results 7 External Factors Impact on Sales Leadership intro Opportunities for Sales Challenges for Sales Leadership Leadership Changes in customer buying behavior (73%) Section Need for product and 1 service innovation (93%) Product commoditization pressures (77%) Section 2 Section 3 Section 4 Survey Question: Please indicate if the following factors present a challenge or an opportunity for your 2011 sales strategy .The contents of these pages are copyright © 2011 Frost & Sullivan. All rights reserved. Source: Growth Team Membership™ research.
  • 8. growth team m e m b e r s h i p™ 2011 survey results 8 intro Section 1 Section 2 Key Sales Leadership Challenges Section 3 Section 4The contents of these pages are copyright © 2011 Frost & Sullivan. All rights reserved. Source: Growth Team Membership™ research.
  • 9. growth team m e m b e r s h i p™ 2011 survey results 9 Top Three Sales Leadership Challenges Identifying and qualifying high-potential prospects Challenge 1 intro Section 1 Responding to clients’ changing business environment and challenges within it Section Challenge 2 2 Section 3 Streamlining the sales process (accelerating the close) Section Challenge 3 4The contents of these pages are copyright © 2011 Frost & Sullivan. All rights reserved. Source: Growth Team Membership™ research.
  • 10. growth team m e m b e r s h i p™ 2011 survey results 10 Sales leaderships’ challenges focus on identifying ways to improve effectiveness and become more customer-centric Top Five Key Sales Leadership Challenges Challenge 1 Identifying and qualifying high-potential prospects (35%) intro Responding to clients’ changing business environment and challenges Challenge 2 within it (12%) Section 1 Challenge 3 Streamlining the sales process [accelerating the close] (12%) Section 2 Enhancing sales reps’ productivity [focus on highest value Challenge 4 activities] (12%) Section 3 Challenge 5 Aligning the sales process with customers’ purchasing behavior (12%) Section 4 Survey Question: Please indicate the top five functional challenges shaping your sales plans in 2011 .The contents of these pages are copyright © 2011 Frost & Sullivan. All rights reserved. Source: Growth Team Membership™ research.
  • 11. growth team m e m b e r s h i p™ 2011 survey results 11 Sales challenges are predominantly caused by ineffective processes and staffing issues Top Five Sales Leadership Challenges Root Cause of Top Five Sales Leadership Challenges Challenge 1 Identifying and qualifying high-potential Staff: Limited resources (50%) prospects intro Challenge 2 Responding to clients’ changing Process: Lack of process (22%) business environment and challenges within it Section 1 Challenge 3 Streamlining the sales process Process: Ineffective process (40%) (accelerating the close) Section 2 Challenge 4 Enhancing sales reps’ productivity (focus on highest value activities) Staff: Inadequate skills (22%) Section 3 Challenge 5 Aligning the sales process with Process: Ineffective process (22%) customers’ purchasing behavior Section 4 Survey Question: Please indicate if the root cause of your top five functional challenges are—staff, process, technology/systems, or strategic alignment .The contents of these pages are copyright © 2011 Frost & Sullivan. All rights reserved. Source: Growth Team Membership™ research.
  • 12. growth team m e m b e r s h i p™ 2011 survey results 12 intro Section 1 Section 2 Section 3 Sales Effectiveness and Practices Section 4The contents of these pages are copyright © 2011 Frost & Sullivan. All rights reserved. Source: Growth Team Membership™ research.
  • 13. growth team m e m b e r s h i p™ 2011 survey results 13 Sales Leadership Effectiveness and Practices Snapshot Respondents rank their sales function’s effectiveness as “Above Average” intro Sales tools are used primarily to increase sales force productivity Section 1 Section 2 Respondents foresee no additional staffing in 2011 Section 3 Respondents expect their budgets to increase moderately in 2011 Section 4The contents of these pages are copyright © 2011 Frost & Sullivan. All rights reserved. Source: Growth Team Membership™ research.
  • 14. growth team m e m b e r s h i p™ 2011 survey results 14 Sales executives consider their function’s effectiveness to be “Above Average” Sales Leadership’s View of Its Effectiveness Exceptional Below Average 7% 7% intro 38 % Average Section 48 % 1 Above Average Section 2 Section 3 Section 4 Survey Question: Please assess the overall effectiveness of your sales function compared to those in other firms within your industry .The contents of these pages are copyright © 2011 Frost & Sullivan. All rights reserved. Source: Growth Team Membership™ research.
  • 15. growth team m e m b e r s h i p™ 2011 survey results 15 On average, distribution channels and partnerships account for approximately 30% of company sales Sales by Partnerships 50% intro 32 % 30% is the median percentage of sales from distribution Section channels and partners . 1 25% 22% 19 % Section 16% 2 11% Section 3 0% 1 to 20% 21 to 40% 41 to 60% 61 to 80% 81 to 100% Section 4 Survey Question: What percentage of your 2010 company sales were attributed to distribution channels or partnerships and alliances?The contents of these pages are copyright © 2011 Frost & Sullivan. All rights reserved. Source: Growth Team Membership™ research.
  • 16. growth team m e m b e r s h i p™ 2011 survey results 16 Respondents largely utilize traditional tools such as sales automation software Primary Purpose of Technology and Practices Tool/Practice 1 Increase sales productivity (36%) Sales Force Automation Tool/Practice 2 intro Customer Relationship Management Improve information on customer needs (35%) (CRM) Software Section Tool/Practice 3 Enable value-based selling to customers—focus on 1 Solution Selling Practices outcomes not price and features (37%) Tool/Practice 4 Section Do not use (33%) Sales Enablement and Productivity 2 Increase sales productivity (26%) Tools Tool/Practice 5 Section Do not use (38%) Telepresence or Live Streaming Video Reduce cost of sale (14%) 3 Comm Capabilities Tool/Practice 6 Do not use (49%) Section Social Media Improve information on customer needs (13%) 4 Survey Question: Please indicate the primary purpose for implementing each of the following technologies and practices:The contents of these pages are copyright © 2011 Frost & Sullivan. All rights reserved. Source: Growth Team Membership™ research.
  • 17. growth team m e m b e r s h i p™ 2011 survey results 17 Social media is used infrequently and usually for lead generation Social Media in the Sales Cycle 40% 37% intro 24 % Section 1 20% 17% Section 12 % 2 8% Section 3 1% 0% Identifying and Pinpointing Needs Presenting Finalizing the Supporting Do Not Use Qualifying Leads and Creating Solutions Sale an Ongoing Awareness Relationship Section 4 Survey Question: Please indicate where social media is most useful with customers during the sales cycle:The contents of these pages are copyright © 2011 Frost & Sullivan. All rights reserved. Source: Growth Team Membership™ research.
  • 18. growth team m e m b e r s h i p™ 2011 survey results 18 Sales executives foresee little to no increase in resources in 2011 Sales Leadership Staffing and Budgets 2011 Staffing Decrease Moderately Increase Substantially 6% 18% intro Stay the Same 39% 37% Increase Moderately Section 1 Budget Section 2 Decrease Substantially 2% Decrease Moderately Increase Substantially 6% 20% Section 3 Stay the Same 35% 36% Section Increase Moderately 4 Survey Question: In comparison to 2010, your 2011 staff and budget will:The contents of these pages are copyright © 2011 Frost & Sullivan. All rights reserved. Source: Growth Team Membership™ research.
  • 19. growth team m e m b e r s h i p™ 2011 survey results 19 what’s keeping sales executives up at night in 2011? The Top Overarching Challenges Affecting Sales Executives Overarching Challenges Sample Solutions from the Growth Team Membership High-Potential Prospects Learn how Farmers Insurance uses a Consumer Sales executives must identify ways to focus activities Lifetime Value (CLTV) model—the revenue a intro on high-potential prospects and align the sales process customer generates during their lifetime with the to customer purchasing behavior . company—to pursue sales and marketing strategies based on the monetary value of each customer . Section Value-Based Selling 1 Learn how Energy Company* evaluated the Sales executives need to implement a value-based sales process and sales force’s capabilities before selling approach that emphasizes solutions over features implementing a sales effectiveness program that and pricing . conveys value beyond price . Section * Energy Company is a pseudonym . 2 Distribution Channel Partners Learn how our Distribution Channel Optimization Companies tend to rely heavily on distribution channels toolkit helps you conduct an unbiased evaluation of Section for sales . However, due to changes in customer your company’s current distribution channels and 3 purchasing behavior, Sales needs to ensure that partners on their effectiveness in reaching customers distribution channels are still meeting its needs . and ability to differentiate your organization from the competition . Section 4 The Growth Team Membership™ (GTM) is an annual subscription program that supports executives in Marketing, Sales Leadership, Corporate Strategy, Corporate Development, R&D/Innovation, Market Research, and Competitive Intelligence . GTM offers best practices research, events, and services to address the internal challenges executives face . Contact us at GTMResearch@frost .com .The contents of these pages are copyright © 2011 Frost & Sullivan. All rights reserved. Source: Growth Team Membership™ research.
  • 20. growth team m e m b e r s h i p™ 2011 survey results 20 intro Section 1 Section 2 Section 3 Section 4 Respondent DemographicsThe contents of these pages are copyright © 2011 Frost & Sullivan. All rights reserved. Source: Growth Team Membership™ research.
  • 21. growth team m e m b e r s h i p™ 2011 survey results 21 Respondent Demographics Enterprise Type Business Model Venture Capital Hybrid Company 7% Public 19% 24% B-to-C Company 5% B-to-B intro Company 69% 76% Private Section 1 N = 117 N = 116 Section 59 % Company Revenue 60% 2 Section 30% 3 10 % 10 % 15% 5% Section 0% N = 116 4 Below $100 Million to $500 Million to $1 Billion to More than $100 Million $499.99 Million $999.99 Million $11 Billion $11 Billion Survey Question: Please indicate the type of enterprise best represents your company .The contents of these pages are copyright © 2011 Frost & Sullivan. All rights reserved. Source: Growth Team Membership™ research.
  • 22. growth team m e m b e r s h i p™ 2011 survey results 22 Respondent Demographics: Top Five Participating Industries Aerospace and Defense 17% Automotive and Transportation 18 % intro Section Professional Services 21% 1 Section Healthcare and Life Sciences 23% 2 Section Information and Communication Technologies 35% 3 0% 20 % 40 % Section 4 Survey Question: Please indicate which industry categories best describe your company (check all that apply .)The contents of these pages are copyright © 2011 Frost & Sullivan. All rights reserved. Source: Growth Team Membership™ research.