SCOTTSDALE, Ariz.–(BUSINESS WIRE)–The Alexander Group, Inc., leading revenue growth consultancy to global 2000 companies, announces the findings from its latest 2020 Sales Leadership Flash Survey. COVID-19 is having a significant economic and workforce impact for sales management practices and operations. The research focuses on what sales leaders are doing during this time of market disruption in terms of growth forecasts, customer engagement, staffing levels, quotas and pay programs.
Unchartered territory and uncertainty. These are the top two themes shared by the survey participants. From March 17-20, 255 respondents shared how they are addressing the COVID-19 pandemic with their sales organizations.
Gary Tubridy, senior vice president of the Alexander Group, noted, “We wanted to understand what actions revenue leaders are taking or considering. That is why we crafted the Sales Leadership Flash Survey: COVID-19. To take the pulse of what leaders are thinking and doing at this point in the crisis. In a nutshell, we see many leaders ‘preparing for the worst but hoping for the best’”:
- 96% expect the COVID-19 crisis to have a negative impact on revenue, with the impact already being felt more acutely by small and medium businesses
- Social distancing selling is the new norm for the immediate future and is reflected in decisions about customer travel
- 66% have suspended all travel and 83% have suspended all trade shows
- In general, participants are retaining current headcount, while those anticipating the greatest revenue impact have already slowed or suspended hiring
- Quota and sales compensation adjustments are on the table with over 50% placing such changes under consideration
“Organizations are doing what they can to protect their sales teams. They recognize that when the crisis passes, they’ll need the sales organization to lead the charge of revenue growth. Yet, there are already changes that will last well into the future. For example, the shifts to social and virtual selling are accelerating trends that were underway,” continued Tubridy.
Commented one survey participant, “This is when tone counts. We need to protect our team AND take care of our customers. This is our rallying cry.”
Alexander Group’s Sales Leadership Flash Survey will continue in the coming weeks to gauge if and how decisions are changing over time amid the COVID-19 pandemic.
Alexander Group is also providing complimentary briefings on the survey results and insights on revenue leadership during times of significant market disruption. Contact us for more information.
About Alexander Group
The Alexander Group provides revenue growth consulting services to the world’s leading sales, marketing and service organizations. Founded in 1985, Alexander Group combines deep experience, proven methodologies and data-driven insights to help revenue leaders anticipate change, align their go-to-customer resources with company goals and make better informed decisions with one goal in mind—to grow revenue. The Alexander Group has offices in Atlanta, Chicago, London, New York, San Francisco, São Paulo, Scottsdale and Vero Beach.
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