In the past year, I’ve seen more and more organizations get on board with developing quality systems that genuinely support sales performance. We’ve helped organizations develop the processes and systematize behaviors that have yielded 50-80% improvements in quota attainment, increased the size of deals, and decreased waste.
But my hopes for a stronger 2017 across the industry are tempered by experience, and the knowledge that we’re going on ten years of overall declining sales performance, with no clear end in sight. Fortunately, several organizations are working to combat this decline with research and advocacy. Among them, The Sales Benchmark Index, who recently published the 400-page guide, How to Make Your Number in 2017.
In it, SBI argues for the value of conducting a new type of gap analysis, that examines the gap between your current practices and emerging best practices, which he distinguishes from standard best practices.
According to SBI, a current best practice is an approach or methodology that is well established within the industry and used by many or most companies. Emerging best practices, by contrast, are used by only the top organizations, and create significant differentiation to accelerate growth.
Much of SBI’s ebook is concerned with exploring the emerging best practices engaged by the top organizations, and how other organizations can attain the same benefits. They lay out a plan that begins with performing the gap analysis. Let’s take a look at how the principle of emerging best practices gap analysis can be applied to annual sales planning.
Organizations like CSO Insights have done terrific work in identifying emerging best practices for the sales industry, by analyzing the behavior of hundreds of sales organizations and categorizing them according to sales performance. In a 2016 report and subsequent interview with our team, Tamara Schenk identified five keys that differentiate world class performers from the rest:
Taken together, these emerging best practices provide a good starting point for conducting your organization’s gap analysis.
Understanding where your sales organization’s gaps are will give you a significant head start against your competitors when it comes to quota attainment for the new year. Plus, here are seven more reasons to know where your gaps are:
So take a moment to slow down and mind your gaps. This time next year, you’ll be glad you did.
George is the founder & CEO of Membrain, the Sales Enablement CRM that makes it easy to execute your sales strategy. A life-long entrepreneur with 20 years of experience in the software space and a passion for sales and marketing. With the life motto "Don't settle for mainstream", he is always looking for new ways to achieve improved business results using innovative software, skills, and processes. George is also the author of the book Stop Killing Deals and the host of the Stop Killing Deals webinar and podcast series.
Find out more about George Brontén on LinkedIn
From north to south, east to west, Membrain has thousands of happy clients all over the world.