SEATTLE--(BUSINESS WIRE)--Outreach, the first and only Sales Execution Platform built for intelligent revenue workflows, today announced its latest report, Sales 2024: A revenue data analysis, which offers a deep dive into the current trends, challenges, and opportunities shaping the sales landscape. The report, released by the company’s newly formed Outreach Insights Group, provides valuable insights for sales leaders looking to enhance their strategies and drive growth in an evolving market. It also provides guidance on how to leverage AI to align goals between leadership and sales teams, refine coaching techniques, and plan for the future.
Among the report’s key findings are that Sales Development Representatives (SDRs) remain indispensable, with 74% of organizations employing at least 21 SDRs. Meanwhile, the global financial market has inspired some trepidation with 61% citing budget and economic uncertainty as the top challenge to revenue growth (with competitive pressures a close second at 58%). The report also shows that lengthy sales cycles are plaguing teams, with the median cycle at 120 days, ballooning to an astonishing 408 days for $250M-$1B companies that target Mid-Market and Commercial accounts.
"This report provides a window into how sales teams are operating, addressing challenges, and dealing with new market dynamics," said Manny Medina, CEO and Co-founder of Outreach. "By understanding these trends and challenges, sales organizations can better equip their teams to navigate the complexities of today's market. We’re also proud to announce the launch of the Outreach Insights Group. By analyzing millions of interactions and market trends, the group will arm sellers around the globe with valuable data and research. Our goal is to continue to share the insights we've gathered to help every sales professional expand their knowledge base and achieve excellence."
Additional findings from the Sales 2024: A revenue data analysis report include:
- Pressure to Perform: SDRs have some serious work to do. Among the general audience survey, a plurality of respondents (26%) expect SDRs to generate 31%–40% of pipeline. And amongst $250M–$1B companies, the highest percentage (38%) expect SDRs to generate 41%–50% of pipeline.
- Need for Alignment: Amongst overall respondents, 64% of C-level executives said AEs were responsible for pipeline generation, but only 29% of "sales staff" said AEs were responsible for pipeline generation. AEs are hard at work, but they could be chasing different goals than their C-suite expects.
- Coaching Disconnect: There is a noticeable gap between leadership and sales staff regarding coaching effectiveness. While leaders believe their coaching is effective (46%) or highly effective (37%), a significant percentage of sales reps are not meeting their quotas (95%), indicating a need for better alignment and support.
- Forecasting and Future Planning: Accurate forecasting is crucial for strategic planning and resource allocation. Despite confidence in their forecasting abilities, many organizations struggle with forecasting new logo revenue compared to expansion revenue. As companies strive for a balanced growth of 50/50 between new and existing business, addressing this forecasting gap becomes essential.
For more information from the Outreach Insights Group, including detailed findings from the full Sales 2024: A revenue data analysis report, visit: http://outreach.io/resources/blog/sales-2024-data-analysis.
About Outreach
Outreach is the first and only Sales Execution Platform built for intelligent revenue workflows. Built on the world’s largest foundation of customer interactions and go-to-market team data, Outreach gives teams the tools they need to design, execute, and continuously improve a revenue strategy that is disciplined, achievable, and optimized for every stage of the customer journey. The world’s most effective revenue organizations, including Cisco, Okta, SAP, Siemens, and Verizon use Outreach to power workflows, put customers at the center of their business, and win in the market. Outreach is a privately held company based in Seattle, Washington, with offices worldwide. To learn more, please visit www.outreach.io.
