Sales Xceleration Inc. conducted a Quick Pulse Survey to Sales Leaders to see how their sales organizations are functioning through the uncharted territory of COVID-19. The results confirmed that 93.4% have been overwhelmingly impacted.
77.14% of the survey respondents were small to mid-size businesses under $100M in revenue, and the key findings were:
54.72% do not have a plan-ahead strategy or plan to create one for their post COVID-19 sales efforts
47.17% have either executed sales layoffs/furloughs or plan to in the near term
34.9% adjusted quotas or compensation plans for sales reps
23.58% have not adjusted compensation plans despite sales being significantly impacted
Additionally, the survey revealed the biggest challenges companies are facing during this crisis. Key themes emerged from the data, including:
Loss of revenue
Prolonged sales cycle
Pipeline standstill
Travel restrictions
Inability to gain facetime with prospects
Employee safety
Supply chain roadblocks
Staffing struggles for essential businesses
Time and resources to focus on creating a viable re-entry strategy
Download the infographic for a full picture of the effect COVID-19 has had on sales.
“The COVID-19 pandemic has hit the SMB community hard. Our Advisors have the expertise to help businesses navigate the current situation, while making the necessary changes to be successful as we all emerge into a new business world,” said Mark Thacker, President, Sales Xceleration, Inc.