Reno, NV, July 05, 2008 --(PR.com
)-- Miller Heiman recently released research findings to help technology sales organizations benefit from the strengths and opportunities identified in a study of their peers. Opportunities to Achieve Revenue Growth in the Technology Industry, derived from the 2008 Miller Heiman Sales Best Practices Study, compiles the results of survey responses from sales professionals in the technology industry and includes the insights from numerous industry experts.
“This type of information is invaluable to sales leaders in the technology industry,” said Sam Reese, president and CEO of Miller Heiman, “Looking outside your own organization at how others are driving results allows you to more accurately assess your performance. If you are doing well compared to internal performance metrics, that’s a good start, but it may still not be enough to remain competitive in the marketplace.”
The results of the study highlighted a number of growth opportunities, including opportunities to increase results through sales and marketing alignment and the development of comprehensive prospecting plans, Reese said.
In the study, technology sales organizations were compared against other industries and Winning Sales Organizations, those who showed a 20 percent increase in new account acquisition, annual revenue and average account billing. The study revealed that technology sales organizations are 45 percent less likely than Winning Sales Organizations to agree that sales and marketing are aligned in what their customers want and need.
According to Rich Blakeman, a Miller Heiman sales vice president, lack of alignment can be attributed to increased merger and acquisition activity in the industry. Value propositions have changed substantially, making it difficult to create alignment at the sales rep level, Blakeman said.
Sales and marketing alignment is may not be the only factor hindering this industry’s ability to win more new business. According to the report, these organizations are 50 percent less likely than Winning Sales Organizations to agree that they consistently use comprehensive prospecting plans.
According to Stan White, a Miller Heiman sales consultant, it takes a lot of rigor to reach out to buyers in the tech sector due to the virtual nature of the industry.
“In a lot of cases, companies have no organizational agreement about what prospecting is supposed to do for the organization – and what the measurements for success are,” White said in the report.
Opportunities to Achieve Revenue Growth in the Technology Industry is available by request by contacting Sarah Licausi at (800) 506-2973 or firstname.lastname@example.org.
About Miller Heiman: The Sales Performance Company
For 30 years, Miller Heiman has brought precision to the art of selling through simple, yet powerful processes and tools to help drive performance, especially in complex selling environments. Miller Heiman publishes the award-winning Sales Performance Journal and conducts the world’s largest annual research project on sales effectiveness, the Miller Heiman Sales Best Practices Study. This study reveals best practices, trends, issues, and opportunities in today’s selling environment. As the thought leader in sales performance, Miller Heiman provides organizational sales process implementations that result in revenue predictability, clearer sales management communication, and best practice selling activities that can be replicated. Headquartered in Reno, Nevada, Miller Heiman has offices around the world and partners in more than 30 countries. For more information, please call 1-877-506-2973.
About the Miller Heiman Sales Best Practices Study
Miller Heiman’s annual research study of sales practices, success metrics, and Winning Sales Organizations is recognized as the largest continuous research project dedicated to sales performance in the world. Since the study was launched, more than 17,000 sales professionals have participated. Miller Heiman’s research focuses on complex, business-to-business sales which, for this study, they’ve defined as having sales cycles longer than one quarter and more than three decision-makers influencing the outcome. The current study is in its sixth year and represents more than 21 industries including technology, healthcare, business services, finance and manufacturing. Respondent companies are located in the U.S., Europe, Australia, Asia, South America, the Middle East and Africa.