Tuesday, May 24, 2022

Dear SaaStr, Our Sales Team has a 7% win rate. Are We Failing?

Q: Sales team has a 7% win rate over last 6 months. CEO has put full revenue accountability on the marketing team. How do I keep sales from failing..

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Q: Sales team has a 7% win rate over last 6 months. CEO has put full revenue accountability on the marketing team. How do I keep sales from failing?

Not to be too much of a Pollyanna — but a 7% win rate isn’t all bad. In fact, if you have an A+ engineering team, it might be borderline great news.

A 7% win rate certainly means you are losing 93% of deals … but it also means you are getting invited into a ton of deals. You’re getting a shot. You’ve getting the leads and the opportunities. You just can’t close them.

The hardest part is actually getting into a deal. So I’d take a pause and just as a team think through how you can get to 10% and then later, higher:

  • What are the top 3 feature gaps you can close?
  • Do you need better sales leadership? That alone can increase your close rate 50% at these levels.
  • Are you nurturing leads properly?
  • Are you hands on enough during trials?
  • Are you providing your sales team enough training on FUD and competitive advantages?
  • Are you focusing your marketing efforts in the areas you do win? After all, you do win some deals.
  • And important — does at least 1 rep do a lot better?  A lot better than 7%?  More on that here.

You can drive this 7% number up. You have the leads. Getting anyone to even take a look at another vendor is hard. You aren’t doing everything wrong
🙂
especially on the marketing side (even if it doesn’t feel like it).

And think about what even getting to 9% will do to your growth rate.

I know you want to win 70% of deals, not 7%. But take it step by step. This is the stage where even a few percent improvement will drive massive revenue gains.

(note: an updated SaaStr Classic answer)

The post Dear SaaStr: Our Sales Team Has a 7% Win Rate. Are We Failing? appeared first on SaaStr.

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By: Jason Lemkin
Title: Dear SaaStr: Our Sales Team Has a 7% Win Rate. Are We Failing?
Sourced From: www.saastr.com/sales-team-7-win-rate-last-6-months-ceo-put-full-revenue-accountability-marketing-team-keep-sales-failing/
Published Date: Thu, 20 Jan 2022 13:39:56 +0000

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https://bdr.business/sales-growth/video-how-product-and-customer-success-should-scale-together-with-dataikus-chief-commercial-officer-kurt-muehmel-video