Sales Performance Solutions – Have You Got One?
In 2014 the sales performance management (SPM) industry is likely to top 10 billion in value. That means you could be missing out!
The SPM industry that has been in the press a lot recently. The mounting hype around the sector has been fueled by acquisitions by such big names as; IBM, NICE, Oracle, Callidus and others.
The SMP industry is important because it’s fast growth suggests that if you are not using its solutions, then your competitors may be. That might given them the advantage they need and limit your potential for growth.
Defining The SPM Industry
The SPM industry’s boundaries can be a little confusing – that is partly because it is new, expansive and growing. Analysts define it to include software and systems ‘to help sales organizations better structure, motivate & guide sales capacity to achieve higher revenue, as well as meet profitability goals’.
While SPM solutions have yet to reach the mass market, you don’t want to be the last to adopt them. Indeed, you want to have them before your competitors do.
Whether it is for the management of incentives, territories, or key accounts, sales analytics, sales training – the range of sales performance management solutions is getting better year on year. These tools are also more visibly demonstrating their contribution to sales performance.
New Exciting Areas Of The Market
One particularly interesting area of the market is the entry of Talent Management software companies into the sales space. They are coming targeting sales organizations with a clear message – we can deliver an extra 10% to the top line.
In support of these figures they present somewhat sobering data regarding sales force turnover, the failure rate of new hires and the level of under-performance among sales teams.
Our Role In The Market
The SMP excites us greatly (and in particular where it intersects with the Talent Management space). That is because of our SellerNAV sales performance solution is primed to benefit from the sectors fast growth.
SellerNAV® is an innovative sales performance management solution, that helps managers and their teams identify and exploit hidden sales potential of between 7 and 12%. To find out more click here, or contact us.