ML recently published findings from the first phase of our 2023 Client Quality Assessment (CQA) survey. The purpose of the survey was to identify market trends affecting our clients’ ability to grow revenue and what strategies they are implementing in response.
What we found is not surprising. Market conditions, especially the economic downturn, are having a major effect on the sales process.
Our survey participants shared ways they are successfully navigating these challenges. They include investments in:
With the end of the year just around the corner, the feedback from our participants is especially timely. We hope they will help you with any challenges meeting revenue goals you may be experiencing.
Download ML’s Market Research White Paper: Market Trends Affecting 2023 Revenue Growth. The document provides additional insights about the challenges and how participants are responding. We also include our survey methodology.
“In my experience, when the market goes bad, it's actually important to get Voice of Customer information. You can refine and be more selective in your approach. Now that we are down to a skeleton team, I actually have spent a lot more time on win/loss analysis because when we win, our margins are quite large.”
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“In the world of social media, industry events are becoming more important because they provide a touch point where you can see a face and shake a hand, and maybe even break bread with your client or prospect.”
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“I would do a larger internal sales team to fill up the funnels of the high-end outside salespeople. We’re struggling to find strong outbound salespeople. So inside sales probably would be where I would try to focus on to build them up so that they are the ones that you retain.
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Thanks for reading! And thank you again to the industry leaders who provided their valuable insights. Our 2023 CQA survey is still underway. New findings will be shared later this year.