Great read in HBR written by consultants at McKinsey. They discuss the optimal ratio of support staff to sales functions is around 55% where they see the highest ROI. However, what stood out is their comments on how critical “digital” is today.
“For example, companies can apply advanced analytic techniques, such as propensity-to-buy modeling and micro market targeting, to help sales support staff do deal qualification much more efficiently” – they go on to say that this reduced planning costs by 20%-25% & 5% revenue growth through higher accuracy.
There are more and more technology platforms that are easy to use, plug & play solutions out there. Just look at profinda.com as an example of this.
Layer machine learning on top of all this powered by Azure, AWS, WATSON and so on – we are moving into unprecedented times for the sales profession.
The problem is that I hear every day “But we have always done it this way” syndrome. Or “It is too difficult to implement this type of technology”. Or “We have our own solution” – the list goes on.
This is why business such as www.cohaesus.co.uk are critical in helping you look over the top of those high (perceived) technology walls that the corporate machine has built up over time.
All of this though comes down to people. Not technology. You either open your mind to new ways of thinking, behaviour change and processes, which all of this technology will supercharge and then reap the rewards of improved margins & profits.
Or you choose not to
Using digital to become “lean” across the entire sales process. Our experience has shown that maximizing the benefits of sales support requires companies to focus on building a fast-moving organization where some support activities are automated, streamlined, or cut entirely. – quoted from HBR
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(Source: article reposted from Digital Leadership Associates with permissions)