article | January 11, 2017
Detective for Hire - Resource Planning Competitive Test
The Competitive Test is one of several that can be evaluated and counted on to provide solid data to make informed decisions on sales force sizing. To hit revenue objectives, sales leaders must have the right size of sales force to provide the level of sales activity required to drive revenue.
Approach to Resource Planning – Sales Force Sizing Optimization
Effective resource planning requires evaluating sales force sizing through a series of tests. Each test is unique and provides a valuable insight that when analyzed together can be viewed common themes that converge together. Looking for trends across the multiple tests provides a complete picture to draw conclusions. The following are the main tests to rely upon in your resource planning to determine the optimum sales force size:
The Competitive Test
Understanding the size of your competitor’s sales force in relation to their market share provides a valuable piece of the puzzle when evaluating resource planning. The competitive test itself is very straight forward, yet can be elusive to complete since access to the data is not controlled to the same degree internal data is readily accessible for the other tests.
Depending on the industry, the size of a competitor’s sales force can be researched through public means. Perhaps the quickest and most accurate read is from employees who know the industry. In general, most companies have tenured personnel who know the industry and can provide an accurate count of the quantity of the sales force.
Market share depends in part, on the “share of voice” that a company enjoys through its sales force size. Large sales forces maintain a high level of visibility within customer accounts and thus participate in more sales opportunities as a result. Sales force size can be optimized to maintain market share even in a period of sales force size reductions. An understanding of competitor sales force size and their resulting market share are key elements to this sizing test.
Steps to implement the Competitive Test
Below is a list of the competitive information required for each competitor:
Value of Competitive Insights
Sales leaders benefit tremendously when they have confidence the sales force is the right size. Even when undersized, as long as there is objective data supporting this conclusion then expectations can be set for performance. Invest in resource planning to ensure your sales force has the right headcount to drive your revenue goals.
Have expectations gone up and left you wondering if you can make your number? Here is an interactive tool that will help you understand if you have a chance at success. Take the Revenue Growth Diagnostic test and rate yourself against SBI’s sales and marketing strategy to find out if:
Many customer-oriented initiatives come with a significant price tag, and customer success leaders q...
How do you leverage data to inform strategy and measure success? Our KPI Builder tool can help guide...
For many B2B companies, the effort to continually maintain and improve their products has become too...
It’s September. You and the rest of the executive team are beginning to think about next year&...
Every year, thousands of companies spend millions of dollars on sales kickoff (SKO) events. You are ...
Today Ray Oram, Global VP of Sales Enablement for IBM, joins us to discuss how to transform the sell...
What does 1% mean to you? Does it mean the top wealthiest tier of individuals in the world? Does it ...
Value-based pricing is constantly top of mind for B2B executives. Promises of higher profits and mar...
© 2017 Sales Benchmark Index (SBI)
A Business Strategy Consulting Company
2021 McKinney Avenue, Suite 550
Dallas, TX 75201
© 2018 Sales Benchmark Index (SBI), B.V.
A Business Strategy Consulting Company
Cornelis Troostsraat 29
Amsterdam, The Netherlands