How an open sales vacancy results in missing sales revenue?
2023 just got started so it’s key to keep track of your sales performance from day 1. Nobody wants to get off track to miss the full year sales target as it is a frustrating and disappointing situation for any organization. But it can be particularly challenging when it is caused by an understaffed sales team. Or simply because you couldn’t source the right talent for the open vacancy in your team.
In this blog post, we will explore some of the reasons why an open sales vacancy can lead to missing a sales target and discuss some strategies for addressing this issue.
RISK #1 – REDUCED CAPACITY
One of the main reasons why an open sales vacancy can lead to missing a sales target is that there are simply not enough people to make enough sales calls and close enough deals. Sales is a numbers game, and without enough people on the team, it can be difficult to generate enough leads and opportunities to hit the target. The business plan that set the sales target for the year has always been defined with the required sales resources in mind. So if you have the budget, you need to deliver the revenue. But if you can’t find the sales person you need, you will miss the target.
Additionally, an understaffed sales team may also struggle to provide adequate support and follow-up to existing customers, which can lead to lost sales, missed opportunities and client churn.
RISK #2 – MENTAL DROP
Another reason why an open sales vacancy can lead to missing a sales target is that it can lead to burnout and turnover among the remaining team members. When a sales team is understaffed, the remaining members are often required to take on more responsibilities, which can lead to increased stress and pressure. This can cause team members to become disengaged and to look for new job opportunities, which can further exacerbate the problem.
RISK #3 – PIPELINE ISSUE
Depending on the business you are in, the length of your sales cycle has an important impact on your pipeline. Imagine your sales cycle takes 6 months on average, this means that your 2023 revenue needs to be in your pipeline by the 2nd quarter of the fiscal year. If not, bye-bye 2023 sales target!
And let’s not forget, a sales person needs to be onboarded and start developing his/her client portfolio which takes minimum 3 months. So every day the open sales position remains empty, it’s getting harder and harder.
So, what can be done to address an understaffed sales team and avoid missing a sales target?
SOLUTION #1 – RECRUIT TODAY & CONSIDER INTERIM
One strategy is to focus on recruiting and hiring new salespeople to fill the gaps in the team. This can be challenging, especially in a tight labour market, but it is an essential step if you want to increase the size of your sales team and hit your target.
To act immediately and deliver instant ROI, companies who consider sales interim profiles are better equipped to meet their target. They onboard skilled people, agree on the well-defined assignment & process and impact the pipeline immediately. An interim profile always hits the road running and pays off much faster thanks to their expertise and mindset.
SOLUTION #2 – INCREASE PRODUCTIVITY VIA TRAINING & COACHING
Another strategy is to optimize the productivity of the existing sales team by providing them with the training and resources they need to be successful. This can include providing sales training, coaching, and mentoring, as well as investing in sales technology, such as customer relationship management (CRM) software, to help team members manage their leads and opportunities.
SOLUTION #3 – OPTIMIZE SALES PROCESS & TECHNOLOGY
Finally, it’s also important to review your sales process and make adjustments as needed. Sometimes, even when the team is fully staffed, it is not well-equipped to reach the target. In this case, it’s essential to review the team’s performance and identify areas where improvements can be made. This can include refining the sales pitch, providing more detailed customer information and analyzing customer insights to help the team understand the target market better. Or deploy technology such as CRM, Sales Enablement software, etc.
Missing a full year sales target due to an open sales vacancy shouldn’t be an option for any best-in-class sales leader. However, good leaders anticipate the current situation and adapt their strategies to make it happen.
Feel free to book a call with us to see how your sales organization can anticipate. As a sales consulting & sales interim organization, SalesX has the expertise & resources to handle these obstacles.
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