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Update Your Sales Growth Plan: Stop Beating a Dead Horse!

Photo by Stefanie Poepken on Unsplash

As a business owner, CEO, or Chief Revenue Officer (CRO), it’s crucial to regularly assess the effectiveness of your strategic sales growth plan. More sales teams will miss their sales goals than achieve them, and the percentage of sales teams achieving their plans has decreased since 2016. According to a recent survey by QuotaPath, 91% of sales teams failed to meet their quota. This suggests that missing targets is common, not rare. We need to turn this around with a strategic sales growth plan.

 

If you find yourself in endless meetings about not meeting sales and profit targets, and you have some salespeople on performance improvement plans (PIPs) with little to no improvement in sales or profits, it may be time for a reality check. In this post, we’ll explore the symptoms of a failing sales growth plan, the symptoms that your plan is not working today, and the common causes of sales growth plans that do not deliver the results owners and investors need.

Is your sales team showing any of these symptoms that indicate they may be trying to execute the wrong sales plan?

Symptoms of a Failing Sales Growth Plan

Recognizing the signs that your current sales plan is ineffective is the first step towards making necessary changes. Here are key symptoms to watch for:

  • Declining Sales and Profits 

    • Consistent downward trends in sales figures.
    • Decrease in overall profitability despite efforts to boost sales.

  • High Employee Turnover 

    • Increased attrition rates among sales staff.
    • Frequent hiring and training cycles without long-term retention.

  • Low Morale and Engagement 

    • Sales teams appear disengaged and unmotivated.
    • Lack of enthusiasm during meetings and training sessions.

  • Customer Complaints and Churn 

    • Rising number of customer complaints or returns.
    • Increased churn rate among existing customers.

  • Stagnant Market Share 

    • No growth in market share despite industry expansion.
    • Inability to attract new customers or penetrate new markets.

 

If you follow my No Smoke and Mirrors content and process, you know I start with data.

What does the research data say are common reasons your sales plan is not working?

 

What are the 6 Reasons your current sales growth plan feels like beating a dead horse?

  1. Poor Sales Strategy

A significant percentage of sales teams fail to achieve their goals because they lack a clear and effective sales strategy.

According to a study by the Sales Management Association, 70% of sales organizations lack a formal sales strategy, which has a direct impact on their performance.

 

  1. Ineffective Sales Growth Plan

Research from CSO Insights indicates that only 43% of sales organizations say they have a well-defined sales process. This lack of a structured plan often leads to missed targets.

 

  1. Lack of Sales Skills

A report by Brandon Hall Group found that 68% of organizations claim they are ineffective in training their sales teams. This lack of training results in poor performance and missed sales targets.

The report emphasizes the need for ongoing training and development to enhance sales skills.

 

  1. Impact of Technology and Tools

According to a study by Salesforce, 57% of sales leaders believe that their teams do not effectively use technology to achieve sales goals. This indicates that poor integration of sales tools can hinder performance.

Salesforce’s “State of Sales” report discusses the correlation between technology usage and sales success.

 

  1. Engagement and Motivation

Research from Gallup indicates that only 30% of employees are engaged in their work, which can have a direct impact on sales performance. Engaged sales teams are 21% more productive.

Gallup’s report on employee engagement reveals the link between engagement levels and sales success.

 

  1. Sales Forecasting Accuracy

A report by Forrester states that 70% of sales forecasts are inaccurate, often due to poor data analysis and a lack of alignment between sales and marketing teams. Only 23% of sales reps believe they have enough pipeline to meet quota, according to another report by GlobeNewswire. They also shared 69% of B2B Salespeople do not have enough Leads in their Pipeline.

Forrester’s research highlights the importance of accurate forecasting in achieving sales goals.

Okay, we have identified the most common reasons why sales teams fail to deliver the sales and profit growth they planned.

Which one of the above could be causing your sales team to miss your sales growth plan KPIs?

Could it be a combination?

Is it all the above?

If your team is failing to achieve your sales growth plan, you are not alone.

Let’s diagnose and identify the root causes, then develop a strategic sales growth plan that drives explosive growth.

Download our free sales effectiveness assessment to help you find and prioritize areas to improve to hit your sales numbers.

Let’s schedule a call and discuss how we can help your team increase sales, profits, market share, and the enterprise value of your business.

Feel free to subscribe to our blog to receive the next post about how to write a plan to revamp your sales results, as well as all future posts.

 

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