Increasing sales revenue is an important objective for most organisations. Recent research provides significant insight into how this goal can be achieved. These findings have direct relevance to the government market.
Sales Performance International recently released its Sales Performance Optimisation survey report which was conducted by CSO insights across more than 1500 firms across the US, Asia Pacific and Europe. The survey targeted professionals directly involved in managing sales forces across a number of sectors, and asked a number of questions about sales and sales management.
The survey asked sales staff to rate the top three reasons why they won deals. The key reasons were:
- existing relationships
- level of service and support
- product superiority
- brand reputation
How important was price?
Price was nominated in the top three of only 22.3% of people. The survey then asked respondents to nominate the top three reasons why they lost deals and 62.3% nominated the competitor's price and terms.
It is no secret that those companies which invest in understanding the market in which they operate are more successful at selling the value of their products and services to customers.
Intermedium suggests companies follow this strategy when targeting government. We can assist companies to plan and execute their sales strategies in the government market by providing consulting, research and training services.
Sales training a significant success factor
Another significant finding was the relationship between sales training and the achievement of sales quota. The survey found that for those investing more than $US7,500 per rep, 72% achieved quota. While those investing $US500 or less could expect only 50% of their reps to achieve quota. Sales force development is a clear indicator of performance.
Intermedium provides training designed specifically for companies selling services into the government market around:
- Understanding how government markets work - structure and operation of state and Federal markets
- Preparing winning tenders for government
- Effective executive summaries
- Sales techniques for government