Meeting the Sales Challenges of Growth
Growth is good. But, it can be difficult to manage. That’s because there are so many moving parts. All the organization’s departments must work together to create a business environment that supports growth. Unfortunately, many organizations aren’t well-prepared to handle growth opportunities. Even though the other departments may be holding up their end, quite often it’s the inside sales function that isn’t up to the challenge.
Here are a few situations in which an organization’s growth might be limited due to the underperformance of the inside sales function.
A Sudden Influx of Funding
When an organization experiences a sudden influx of funding, perhaps in the form of a large venture capital investment, the huge expectation for rapid growth can be overwhelming. In this situation, the internal sales function may not have all the pieces to the sales puzzle in place to be successful. Without recruiters, sales managers, a VP of sales, CRM experts, a sales-oriented culture, and an environment that is conducive to sales, the organization will struggle to grow fast enough to meet expectations.
Managing a New Product Launch
The challenges associated with managing a new product launch are similar to those associated with dealing with a sudden influx of funding. Speed to market is critical. However, the reality is that it takes time to ramp up a new, or grow an existing, internal salesforce. This is a problem because sustainable growth is only possible through demand generation and the nurturing of a healthy sales pipeline. When the sales team for a new product launch is unprepared, or doesn’t exist, it will be difficult to fully capitalize on new opportunities.
Targeting New Verticals
There may come a time when it makes good business sense to target a new vertical. As an example, management of an organization that sells procurement software to manufacturing companies may realize that their software can also be useful in the healthcare industry. After making this realization, management turns to their sales team and tells them that they will be selling to a new type of customer. It’s likely that no one on the sales team is prepared to make the shift. The organization must now re-train their existing sales team. They may also need to hire and train new salespeople. While all of this is going on, the sales team also faces the challenge of maintaining productivity on the original vertical.
Attending to Orphaned Product Lines
Another challenge is attending to orphaned product lines. Orphans can develop quite naturally during the regular course of the sales process. For instance, a salesperson may have a two-million-dollar quota for equipment sales. However, they are also expected to sell an optional software package for five thousand dollars. That salesperson will tend to put their time and effort into selling the big-ticket equipment that is going to get them to their sales quota the fastest. Consequently, software sales get ignored and prospects for growth are lost.
Dealing with a Shallow Talent Pool
Sometimes organizations are located in very shallow talent pools when it comes to salespeople. So, what happens when the organization wants to grow but can’t find the local talent they need to support that growth? They must invest heavily in recruiting and training new talent from a different region or miss out on growth opportunities.
Breaking Through a Revenue Plateau
Reaching a revenue plateau means the end of growth. The question becomes, “What does it take to break through that plateau to get to the next level?” The answer is that the organization must do something different than what it has been doing. It must increase its capacity and improve its processes. These things can be difficult to do without assistance from a partner that has existing resources and a fresh perspective.
Acquirent is Your Partner for Growth
Meeting the sales challenges of growth is easy when you have the right partner. Whether you are managing a new product launch, or you are seeking to break through a revenue plateau, Acquirent brings to the table the resources and experience your organization needs. We are your partner for growth because we have the right people and infrastructure in place to ensure that your organization never misses out on revenue-generating opportunities.