There are millions, okay, hundreds, of benchmarks floating around these days. Sales productivity should be A, B, or C, funnel conversion rates are typically such and such a percent, or churn rates have to be no more than X or your company is in big trouble. Whatever the metric, someone has a definitive answer for what it should be.
It is enough to make your head spin, especially as you often have a vague sense that somehow, the comparisons aren’t quite right. Your company doesn’t look like Box, isn’t as big or mature as Salesforce, and has a completely different sales model than the latest hot company proclaimed to have the best model for success. The key is that in order for benchmarks to be useful and provide important comparisons to plan for changes at different stages of growth, they must reflect your company’s size and business model.
If you know houses in an expensive suburb are going to be higher than in a low cost part of town, when you go to actually buy a house, you still need to know specifically how much comparable houses sold for recently in order to set your budget and fine tune your purchase negotiation. Your negotiation will be more effective, your budgeting will be more careful and your planning (how much money you should spend on your renovations and upgrades) will be more accurate. You always perform better with more information. It’s the same thing with operating benchmarks.
Interactive Sales Benchmarks
See how your company stacks up against others in your industry by exploring our filterable Sales Performance Benchmarks.