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Miller Heiman Q4 2006 Sales Confidence Index Reports an All-Time High
RENO, NV -
November 29, 2006 -
The Miller Heiman Q4 Sales Confidence Index, released today, reported a surge of confidence among sales leaders as the Index rose to all-time high of 109.2.
Sales leaders say that although discounting continues, they are seeing less demand for deep discounting (twenty percent or more). Eighty-six percent of sales leaders surveyed said their sales forces remain stable, with fewer increases and decreases compared to last year. Sales leaders’ positive outlooks reflect the overall economic picture: the Federal Reserve expects moderate economic growth in spite of speculation about consumer spending, the housing market and a possible stock market correction. Concerns that declining unemployment and rising wages could lead to higher prices and eventually to commoditization – are a continuing challenge for sales organizations. With a strong start and increasing confidence in prospects for 2007, Miller Heiman advises positioning your sales organization for strong, steady growth. With more stable sales teams, maintaining focus on the elements of an effective sales system will enable organizations to capitalize on the opportunities offered by larger deals and shorter sales cycles. “Once again, it’s important to prioritize resources toward funnel and key account management,” says Sam Reese, President and CEO of Miller Heiman. “A well-defined process for moving through the sales funnel from prospect to close is essential. An enterprise-wide understanding of how the client is advancing through the sales cycle and what specifically needs to happen to move the opportunity forward leads to expected outcomes and forecast accuracy.” Reese recommends a laser-focus on key account development as the most important growth initiative. In this departure from traditional sales, the selling business transforms itself beyond a provider of quality products and services to a true partner, working with its client to offer increased value to the client’s end user. Companies are realizing that key account development is not only the most important growth initiative in which they can invest time and resources, but also an effective method of avoiding the commoditization trap. Find actionable advice in Miller Heiman’s Sales Performance Journal on Forecasting and on Strategic Account Management.
The Index revealed significant increases in sales leader confidence across the board, predicting a strong start for the new year. Nearly three quarters of sales leaders surveyed reported shorter sales cycles than last year. Ninety percent expect to meet fourth quarter quotas, and the majority anticipate better quality leads and larger accounts in Q1 2007.
About Miller Heiman: The Sales Performance Company
Miller Heiman is a global leader in sales performance solutions with more than 30 years of documented results. The company works with leading organizations to improve sales effectiveness through issue-based consulting and training. Headquartered in Reno, Nev., Miller Heiman has additional corporate offices in the United Kingdom and Australia and representation in more than 30 countries. For more information, contact 877.506.2973 or visit www.millerheiman.com.
