Today in this post we will demonstrate how to determine sales coverage and sales channels, specifically those two things as aspects of the corporate strategy. 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.
Our guest today is Drew Forret, the Chief Operating and Financial Officer at CARPROOF. CARPROOF is the leading provider of vehicle history reports in Canada selling Business-to-Business to dealers. You may be familiar with CARFAX, CARPROOF’s sister company in the United States. Drew acts as the operating partner to the CEO and leads the functional areas of finance, HR, strategic planning, and internal operations.
Hitting the topline revenue growth goal starts with the right coverage across the addressable market. Drew and I begin the interview with Drew demonstrating how he makes sure CARPROOF has proper coverage across his addressable market. Watch as Drew describes the approach to work top-down from the sales goals to insure he has the right resources in place. Determine the coverage includes calculating the number of touches and calls required to hit our goals based on historic conversions.
In response to the first question Drew describes how he determined rep coverage; “A rep can perform five sales calls a day with five days in a work week. The rep can do a hundred calls a month. We gauged whether that was going to be adequate for them to properly address their territory and positively affect the top line at that sort of activity rate. Then we looked at what the existing resources were and whether they had the capacity to hit those high-level metrics. It really became a math exercise that we started with some assumptions. Then we tested out those assumptions and made sure that we were looking at the variables the right way.” Watch the full video to leverage Drew’s demonstration and discover the ‘aha’ moments that apply to your business.
The CARPROOF story is a great use case for anyone working through the challenges of sales coverage and channels. The goal is for Drew to use his company’s example to demonstrate how to determine sales coverage and channels.
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