Prevent revenue misses by embracing the right growth drivers to reach your sales goals.

The Studio Executive Briefing Center

 

How many times has sales missed revenue growth goals? More often than not, the root cause is a sales number that was set incorrectly. Corporate strategy is the main culprit. The sales team will consistently achieve success when your corporate strategy supports the right revenue growth drivers. If you would like a hand determining the right growth drivers, visit The Studio, SBI’s multimillion dollar, one-of-a-kind, state-of-the-art executive briefing center. A visit to The Studio increases the probability of making your number because the sessions are built on the proven strength and stability of SBI, the industry leader in B2B sales and marketing.

 

Different strategic objectives call for different mind-sets to establish the correct sales number: market expansion, new market exposure, and market share gain.

 

Set Achievable Sales Goals

 

Aligning revenue growth drivers with your corporate strategy is the key to establishing achievable sales goals. The following definitions describe how each strategic objective comes to bear in determining the right sales number.

 

  • Market expansion: When revenue growth depends on overall expansion of market segments represented in your portfolio, corporate resources should encourage increased sales activities. For example, launching a new product expands sales opportunities for revenue conversations. If the corporate strategy does not allocate the right level of product and marketing resources, then the market expansion goal will suffer and sales will miss the number.

     

  • New market exposure: If your segmentation analysis uncovers highly profitable niche markets, pursue them. Unless there is a compelling strategic reason not to pursue a growth market, the CEO should ensure corporate resources support the sales efforts. One way to accomplish this is authorizing new hires or channel partners to go after novel markets. Then include a number from these new markets in the sales plan.

     

  • Market share gain: This objective focuses on increasing share in an existing market. To steal revenue from competitors, this plan requires a distinctive type of sales professional. So the corporate strategy should incorporate a talent component. This will put sales and HR on notice to add talent tactics to their functional strategies.

     

Don’t Skimp on Resources

 

Corporate strategies are unquestionably valuable for CEOs. But most fall short on producing revenue growth. To help set and deliver on the right number, define drivers that are aligned with corporate objectives. And then provide the resources your team needs to meet revenue growth goals. It’s difficult to grow revenue faster than your industry’s growth rate and faster than your competitors. The Revenue Growth Diagnostic interactive tool will help you determine if you are likely or unlikely to make your number.

 

If you would like help with this subject, come see the SBI leadership team in Dallas at The Studio, SBI’s multimillion dollar, one-of-a-kind, state-of-the-art executive briefing center. A visit to The Studio typically results in getting 3 months of work done in 3 days. The immersive sessions accelerate everything, dramatically reducing the time it takes to diagnose a problem, develop a solution, and create an implementation plan.

 

CEO Road Map

Get More Out of Your Sales Force in 2017

ABOUT THE AUTHOR

Tom Maloney

Works with clients to improve sales force effectiveness and reduce customer acquisition cost and increase customer lifetime value.

Prior to joining SBI, Tom was the Vice President of Sales Operations for the Uniform Services Division at ARAMARK. He was also Vice President of Sales and Marketing for a recycling and waste collection organization and spent over 15 years in the petroleum industry with Atlantic Richfield and Texaco. He brings significant expertise in sales, marketing and operations leadership. Tom also has changed legacy sales organizations, turned around underperforming departments and consistently built high performance teams in both sales and marketing. He develops customer loyalty marketing campaigns that improve customer retention, reduce client turnover costs, and increase year-over-year sales. He has built multi-million dollar strategic partnerships and business building programs with most major US-based consumer products companies

 

Tom has earned multiple awards, some of which include: Univator Award for innovation, Super Star President’s Award, The Greatest Piece of Marketing Content Award.

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