Aberdeen’s Maturity Class Framework for Better Sales performance
Aberdeen’s research defines Best-in-Class sales performance by benchmarking organizations against 4 key current and year-over-year performance metrics:
- Current sales quota attainment
- Current opportunity win rate
- Year-over-year improvement (decrease) in customer acquisition cost
- Year-over-year improvement (increase) in total company profit margin
By looking at organizational sales performance, we then break the survey respondents into three maturity classes:
- Best-in-Class: top 20% of performers
- Industry Average: middle 50% of performers
- Laggard: bottom 30% of performers
Sometimes, a fourth maturity class, All Others, is used to describe Industry Average and Laggard combined.
Where Does It Hurt? Understanding the Sales Pain-Points Addressed by E-signature Technology
Recent Aberdeen research has uncovered that, on average, sales teams only achieve 55% of their company’s annual sales goal. Based on the performance ranges of all surveyed sales organizations, this result, in itself, should be alarming. Simultaneously, the top pressure cited by 44% of sales organizations is the ability to not only hit the annual revenue number but to do so profitably.
Sales organizations are in desperate need of an edge, which is why, understandably, there’s been an explosion of available solutions designed to better sales.
Of course, having a diverse spectrum of solutions to review and potentially implement hardly makes life easier for a sales professional seeking to get a leg up on the competition — or even just a handle on their own operations.
Quietly, yet steadily emerging as a transformative technology in this sales environment, is e-signature technology.
When we look at what Best-in-Class sales organizations (defined in the sidebar) desire in the sales technologies they implement, the top need reported by 66% of these top performers is for effective tracking, management, and optimization of sales performance. Without e-signature technology, understanding what happens once a contract has been sent out, at best, depends on what’s captured in a sales rep’s notes in CRM. At worst, insight into this final stretch of the sales process is a complete blind spot for operations.
By providing such vital insight to track, manage, and optimize the process of getting deals signed, it should come as no surprise that e-signature solutions are already relatively commonplace for the Best-in-Class.
Indeed, Best-in-Class sales teams are 62% more likely to be active e- signature users, compared to All Others (47% vs. 29%).
The Best-in-Class, if not using e-signature presently, are also 36% less likely to report “no known need” in considering e-signature technology for adoption, compared to All Others (33% vs. 45%). In Figure 1, the importance of these technology adoption details becomes clear in the context of how sales sophistication levels and sales performance levels go hand-in-hand.
Figure 1: The State of Sales Sophistication & Where E-signature Users Fit In
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In this report, Aberdeen will explore how the usage of e-signature technology elevates tactical effectiveness and efficiency for better sales operations, while simultaneously bolstering sales’ overall ability to win revenue.
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