Every sales professional wants to succeed. So why do so many sales professionals across Canada fail. On average, only 64% of reps are making quota. In fact, turnover rates average 34% in the US and are comparable in Canada. It takes reps 5.3 months to ramp up to productivity, and many never reach it. As a Sales Leader, what can you do to beat the trends? Let's look at the facts.
Benchmark data by SiriusDecisions suggests the following reasons for these unexpected departures:
89% leave due to deficient compensation.
60%-80% leave due to lack of connection with leadership or incompetence of leadership.
75% leave because of concerns about the company ability to meet market needs.
The CSO Insights 2016 Enablement Study found that:
Companies with dynamic coaching programs achieve 28 percent higher win rates.
Over 47 percent of sales managers spend less than 30 min a week coaching reps on skills and behaviors.
The Sales Management Association concludes that:
Firms that provide an optimal amount of coaching realize 16.7 percent greater annual revenue growth.
With so much evidence to support Sales Coaching why do only 47% of sales managers spend less than 30 minutes a week on this important activity?
Time. Sales Managers, and business owners ‘doing double duty’ as a sales manager consistently report they don’t have the time. Many wish they could spend more time with their reps. Many are looking for options. Let's look at the business case and options.
CareerBuilder reports that the average cost of losing an entry or mid-level employee is between $7000 to $10,000. Hiring a dedicated Sales Coach to work with your sales rep is only a fraction of this cost.
Outsourcing a Sales Coach who can provide consistent and quality sales coaching is a good business investment. Your sales team is your competitive advantage. Their selling skills are your best investment. Take a look at the options. Download the Free Sales Coaching Planner.