Weekly Newsletter - 10.16.2024

How CROs Can Stop Revenue Leak

Author

Zihan Lyu
October 16, 2024 • Estimated Reading Time: 4 minutes

Editor’s Pick 🌟

Sales is changing fast, and Hive Perform is at the forefront of this evolution. At the recent Innovate to Win: Sales Enablement Summit, industry leaders shared their two cents on what's working (and what's not) in today's sales world.

We’re bringing fresh takeaways from the summit:

◾ Perhaps the most sobering statistic shared was that only 20% of sales reps are hitting their quotas in 2024.

◾ Tom Lavery, CEO of Jiminny, noted that 60-70% of the buying process occurs without salespeople, emphasizing the importance of adapting sales approaches.

◾ Kelly Hagerty from G2 stressed the significance of buyer intent data, with over 56% of organizations having purchased AI platforms in the last quarter.

Forget the lone wolf approach. The future of sales focuses on building resilient, adaptable teams rather than individual "superhero" salespeople.

Laura Keith, CEO at Hive Perform, advocated for a human-centered design approach in sales. Her recipe? Spot real problems, test ideas, and let the data do the talking.

The summit reinforced Hive Perform's commitment to equipping sales teams with essential tools and insights for success in this evolving sales landscape.

Industry Insight 🔮

Chief Revenue Officers can overcome revenue leaks and meet 2024 targets by aligning objectives, addressing leaks, operationalizing revenue cadences, forecasting accurately, and enhancing executive engagement. These strategies, discussed by industry leaders, emphasize visibility, consistent processes, and strategic stakeholder involvement to drive revenue growth effectively.

Spoiler: It's not just about fancy tools or running a one-time training session. It’s about giving your sales team the ongoing support, resources, and coaching they need to thrive.

Think of it like a gym membership for your sales skills—you've got to keep showing up to see real results.

◾ Training alone doesn’t fix everything

◾ Tech is cool - human coaching is crucial

◾ Sales enablement is for EVERYONE, not just newbies

The goal? Closing better deals, faster.

Read more, comment, repost, Hive Perform wants to hear from you.

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