It’s an economic impossibility to cover all customers and prospects with field sales alone.
Every day, your field sales team is not only tasked to maintain dozens of your best customers, but also to go and find your next big customers. With only so much time in a given day, how do you know they are focused on the best opportunities to provide growth?
Channel 80/20 is a turnkey sales & marketing solution that applies analytics & omnichannel marketing support to help your sales team more effectively reach every customer in their portfolio, all while acting as a virtual sales representative to your small unassigned house accounts.
How does MMC’s Channel 8O/2O product help?
MMC specializes in working with distributors in the building products industry
to better manage customer relationships.
Layering omni-channel marketing to high value customers in support of field sales organizations.
Turnkey inside sales organization with analytics-driven omni-channel marketing to low value, unmanaged customers.
WHAT ARE YOU LEAVING ON THE TABLE?
MMC has analyzed hundreds of data sets for distributors in the building product industry, and they all tell the same story. By providing these three key data points, MMC can project the potential sales opportunity your customer database holds.
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We have found that the average split of high value accounts to revenue is not 80% of revenue from 20% of accounts, but rather 80% of revenue from 13% of accounts.
Therefore, it’s likely that your account ratio is:
High Value vs. Low Value Performance:
In general, we see a high level of performance degradation between high value and low value based on sales coverage.
Given typical performance trends, it is likely that you might be seeing performance of:
The Rule of Thirds
Our experience has found that a typical field sales rep is assigned around 100 accounts. We have observed a phenomena we refer to as the “Rule of Thirds”, where there are distinct differences in performance between the top, middle, and bottom third of a field sales reps’ portfolio.
By addressing your underserved low value customer tail, you could:
- Eliminate the decline in revenue of low value customers: -$0
- And grow those same accounts by 10%: $0
- Adding incremental revenue to your top line of $0
By layering additional marketing support for your field-sales managed accounts, you could:
- Maintain and accelerate sales growth within your Top Third of managed accounts
- Uncover additional share-of-wallet opportunity and increase sales within your Middle Third of managed accounts
- Extend reach and prevent attrition within your Bottom Third of accounts that are likely not receiving full attention from field sales