In the previous blog we discussed the dissatisfaction with conversion time; the time from making a first contact to signing a quotation. Many respondents indicated that it is three times longer compared to 5 years ago. This means that the "sales funnel", the imaginary funnel with potential customers, must be three times larger than 5 years ago for the same turnover. In many cases this is too expensive to organize with the current sales capacity because in many cases three times as many customer contacts have to be made.
We find that two factors play an important role when it comes to the active acquisition of new customers. Firstly, the challenge of getting "to the table" and secondly, the length of time the customer is won once one is at the table. The challenge of getting "to the table" is often not met due to a failure to convince the potential customer to make an appointment.
As a result, only a very small part of the turnover from new customers is the result of an active approach. In addition, the capacity to respond to the longer conversion time from first meeting to signing the contract is often lacking. We will investigate how this can be improved!
Your own benchmark report
This blog is based on the results of our ongoing benchmark research which we conduct among our clients.
Receive the full report and compare your own performance with the group? Then participate in our benchmark research!