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2024 Revenue Agenda: M. Allen Point of View




Breaking the Cycle of a Weaker Than Expected Quarter


As we step into 2024, some of us might find ourselves facing a weaker than expected Q1. If this sounds familiar, it's essential to understand the reasons behind this setback and strategize for the future. Here are a few factors that might have contributed to this situation:


1. Proposals stuck in the pipeline due to decision makers delaying choices.


2. Spending excessive time closing deals at the expense of adding new opportunities.


3. Pursuing new opportunities without adequate focus or time investment.


While you may recognize the causes, the crucial question is: what can be done about it now?

One common mistake to avoid is chasing any available sales, often leading to smaller, less profitable deals while jeopardizing future quarters. A case in point illustrates the significance of long-term strategies over short-term fixes. Consider the story of a software system client with a lengthy sales cycle. Due to a weaker quarter, the sellers were urged to focus solely on immediate closures, neglecting the broader sales funnel. This short-term fix threatened long-term success.


Short-term solution: Consider merging Q1 and Q2 efforts to prioritize a healthy, successful first half. Shifting focus from immediate results to sustained growth might be the radical change needed to break the cycle.


Long-term solution: Implement a permanent strategy to safeguard the top of the sales funnel, ensuring a continuous flow of new opportunities. This guards against the pitfalls of overly focusing on short-term gains.


If your team lacks the expertise to open doors for new opportunities, considering external help might be beneficial. Remember, the issue of a weaker quarter won't resolve itself. Hope is not a strategy. Embrace transformative solutions to foster consistent revenue growth.





The Top 7 Questions Every Sales Leader Must Be Prepared to Answer

Can your sales leaders answer the following questions? Most participants in our sales one-on-one interviews/workshops struggle.


1. Is Our Sales Strategy Clear Enough?

Strategic sales clarity is crucial - understanding ideal clients, unique value propositions, and success metrics. Assess your sales strategy with our free sales health check.


2. Is Our Sales Culture Healthy, High Performing, and Aligned Enough?

Sales culture accounts for 40% of the sales team's performance difference. Healthy culture and high performance are key. Ensure sales incentives are role-specific and aligned with the overall process.


3. Do We Have the Right Salespeople in the Right Roles?

Align your team with the required traits and skills. Different roles demand different competencies - like the distinction between "hunter" and "farmer".


4. Should Our Sales Cycle Be Shorter?

Efforts to shorten the sales cycle are crucial for boosting morale and results. Identifying unproductive steps and building customer urgency is vital.


5. Are We Generating Enough New Business?

Balancing new customer acquisition with retaining and growing current accounts is essential. Analyze where new business is coming from and align it with your sales strategy.


6. Are You Being Smart About the Sales Systems and Processes You Rely On?

Review and revamp your systems and processes to align with your team's selling needs. High-performing sales teams are more likely to have good sales development processes in place.


7. Does How We Sell Set Us Apart?

The sales experience drives customer loyalty. Consultative selling skills create differentiation and competitive advantages. Ensure your sales experience is top-notch.


Until these questions are answered, your sales team might not operate as the high-performance team you desire. It's always smart to ask if you can do more to maximize the success of your team.


Additional CRO & Growth Insights:


The Super Hero CRO:


RevenueCRO.Jan24Brief
.pdf
Download PDF • 8.87MB

Best regards,


Matt


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