A new research report from SiriusDecisions presents a pretty damning view on the state of sales today. The 2018 Global Chief Sales Officer Study surveyed the heads of sales from 250 companies covering a broad array of business, from small business through large multinational businesses.
Here are some of the key findings:
- Fewer than 50% of sales reps are hitting quota
- At 70% of companies, fewer than 70% of sales reps are hitting quota
- Marketing is contributing less than (a paltry) 25% to revenue
- Sales cycles are getting longer for 64% of companies, with 27% seeing an increase of more than 30% in just the last year.
- For the typical company, sales reps spend just 27% of their time on direct activities involved in selling to customer or prospects. Higher-growth companies reported their reps spent 53% more time selling (though I'd point out that’s still only? 41% of their time spent actually selling).
I’ve got to tell you, I had to read the report twice before I believed what I was seeing. The last five years have seen greater investments in customer acquisition and sales than ever before, yet these numbers indicate that nothing has improved.
Of course, I really shouldn’t have been surprised to see these numbers as I’ve got front row seats to this whole thing. While I caution people to be wary in reading too much in surveys, this report is another piece in a growing plethora of evidence that shows that selling organizations have still not made the necessary adjustments in their approaches to sustain and succeed.