Discover the covert strategies that are keeping you from reaching your B2B sales goals.
You may not know their names, but they influence what you believe about B2B sales. This cabal subtly shapes your actions and perceptions about selling. You can find members of the sales industrial complex on LinkedIn, though their profiles won’t reveal their true allegiance. The reason so many salespeople and sales leaders fail to reach their sales goals is due to the complex's hold on them.
At my peril, I will expose the beliefs that keep you from succeeding in B2B sales. Be prepared to challenge deeply ingrained notions that are harming your results. Only 42 percent of reps reach their quota—let’s uncover why.
The Pipeline Coverage Myth
The sales industrial complex pushes for 2X, 4X, or 8X your quota. Despite your efforts to create new opportunities, you often fail to meet your targets. This focus on pipeline coverage is a distraction that prevents you from capturing the opportunities you create.
If pipeline coverage alone could ensure success, everyone would hit their targets. But the sales industrial complex's influence keeps sales leaders blindly following their ineffective strategies.
Improve Average Win Rates in B2B Sales
Low average win rates plague the industry, with figures as dismal as 17–20 percent. The complex hides the strategies that could boost your success, convincing leaders that effectiveness isn't worth the effort. They take advantage of people looking for shortcuts.
Sales leaders claim to be too busy to train and coach their teams, so instead they fixate on pipeline metrics. This leaves their team’s under the sales industrial complex’s influence, setting them up to fail.
Strategies to Address Stalled Deals in Enterprise Sales
Stalled deals have increased by 24 percent, with enterprise sales cycles extending by 36 percent (DynamicBooks). The complex tells you this is normal and that, as long as you maintain pipeline coverage, you’ll be okay. They claim it’s a numbers game.
In reality, deals stall when salespeople fail to create value. But there's a more profound truth: Buying is harder than selling. Clients fear making strategic decisions and need time. They also need to be educated on their industry, so they look for an expert to help them navigate their situation. This is contrary to the complex’s advice that “time kills deals.” A salesperson who rushes in with a pitch cannot offer the consultative sales process clients want and need.
Combat Shrinking Average Deal Sizes in B2B Sales
Large deals are shrinking. Recent trends show that large deals have lost about 20 percent of their value. The complex tells you not to worry, but these deals are crucial for hitting targets and maximizing commissions.
Here’s what you need to do:
- Audit your pipeline. Remove deadweight opportunities that will never close. If your pipeline doesn’t spark joy, do something about it.
- Focus on win rates. Double down on strategies that convert leads into closed deals. Improve your team’s effectiveness instead of driving them to create opportunities they’ll never be able to capture.
- Increase sales effectiveness. Train your team to move deals through more efficiently. Pick up a copy of The Lost Art of Closing.
- Challenge the status quo. Stop listening to the sales industrial complex and start thinking for yourself. Be the renegade your competition fears.
Don’t wait for the next fiscal year to turn things around. Start now. If you want strategies tailored to your team and market, reach out. Let's ensure you’re not just another statistic in a failing system.
Success favors the bold.
Schedule here: https://meetings.hubspot.com/beth85.