While its overall finding doesn’t necessarily come as a shock, a new study released this week by CSO Insights illustrates just how bad of a hit sales performance took in 2009.
For its annual Sales Performance Optimization (SPO) study, the research firm surveyed over 2,800 companies worldwide to gauge their sales teams’ effectiveness and response to external challenges. The results, to put it mildly, weren’t pretty.
In 2009, the percentage of sales reps making quota dropped to 51.8 percent, down from 58.8 percent in 2008. Overall revenue plan attainment dropped from 85.9 percent to 77.9 percent as a consequence.
Alas, such drops may have been inevitable: According to the study, many companies financially handicapped their sales teams, with 67 percent of respondents saying they froze or reduced lead generation budgets. The overall training investment per sales rep also decreased by 13 percent.
And yet, paradoxically, 86 percent of surveyed companies reported increasing their 2009 quotas at the end of ’08. With 85 percent of respondents repeating this trend for 2010, it’s likely increased investments in sales will be needed to accommodate the higher quotas.
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