Everyone wants to know: what is the silver bullet to sales success? What's the one thing that will magically bring in more sales and grow your accounts?
Well, there is no one silver bullet. Many factors influence top sales performance. But there is one word that can transform your sales results: Value.
It sounds cliché, but while most companies claim they focus on value, few actually make value a core part of their culture.
In the RAIN Group Center for Sales Research Top-Performing Sales Organization study, we asked a series of questions focused around value:
- Our sales organization focuses on driving maximum value for the customer
- Our sales force structure is aligned with the way our customers prefer to buy from us
- Our sales process is customer-focused and maps to our buyers' buying processes
- Our sales process is flexible to apply to our buyers' various roles and situation
- Our company leaders prioritize developing sellers to be as valuable to our buyers as possible.
Only 16% of respondents agreed or strongly agreed to all five of these questions. We labeled these companies Value-Driving Sales Organizations.
The business results of these organizations compared to the Non-Value-Driving sales organizations are drastically different.
The Value-Driving Difference
Value-Driving Sales Organizations have significantly higher win rates and revenue growth, and lower undesired turnover. So not only are their results superior, but they are better able to retain top sales talent.
Other findings from the research underscore this disparity in value focus:
- The 2nd biggest difference (out of 72 factors studied) between Top Performers and The Rest? Company leaders prioritize developing sellers to be as valuable as possible to buyers.
- "Improving our ability to communicate value" is the #2 top sales priority for the year. (#1 is "Increase business with existing accounts" which can’t be done without improving ability to communicate value.)
- 35% of respondents do not agree that their sales organization focuses on driving maximum value for the customer
- 52% of respondents do not agree that their sales process is customer-focused
With 8 out of 10 companies being Non-Value-Driving, there's a lot of room for improvement. If you want to transform your sales results, focus on value. And don't just pay it lip service—implement a culture of value at your sales organization.