This week we are looking at the sales organization of our members. As shown in a previous article, 2/3rds of our chapter's members said they are the leader responsible to drive sales. And roughly 90% have at least one full time sales employee or equivalent. But let's look deeper at the strategies we believe are most effective at driving sales.
1. ALL Members: The Most Used and Effective Sales Strategies:
2. Members Growing 20%+ YOY: The Most Used and Effective Sales Strategies:
3. B2B Members Growing 20%+ YOY: The Most Used and Effective Sales Strategies:
B2B is the largest percentage of our members, with 46.99% targeting it exclusively and another 26.51% targeting both B2B and B2C. For those focused on B2C, you can see how far Ecommerce/Online drops in this group because that is the most valuable channel to B2C members.
For those who put "Other" the two most frequently selected high value sales strategies were either a Referral program
or Trade Shows/Speaking/Events
. An interesting high growth respondent said the most valuable strategy was the use of Intent Data Software
4. High Growth Members tend to close a Higher Volume of deals (no duh).
High growth members tend to close higher volume of deals, here you can see All Member data compared to those growing 20% or higher and 50% and higher.
5. Deal Size by our Members.
Years ago I recall learning that the $500-1000 price point was called the valley of death. Meaning, you needed a way to automate the sales process sub-$500, but a sales person typically needed to be involved at $500+ to close a deal and that the economics didn't scale well at that price point. Interesting that in our member response, that seems to hold true as well with no respondents selling a $501-1000 deal.
btw- The largest average deal size in the chapter was $5M. Who do you think that is?
I am excited for us to learn from each other as mentioned, our chapter seeks to increase member-to-member value through curating and creating valuable content that you care about. GROWTH is the first theme that will be unpacked for the next several months but over the year we will focus on 4 themes GROWTH, SCALING your operations, creating a winning STRATEGY and MONEY.
Feel free to reach out to me if you have questions!
EO Member since 2009