Sales Close Ratios
The Massive Dormant Opportunity in Tech
Net new growth in tech companies today is almost exclusively focused on "filling the top of the funnel" with net new leads.
However, when companies get to series B, but often much sooner, they've figured out how to get leads. Yeah they want more, but they've got leads.
They've even figured out how to turn those leads into opportunities that the sales team agree are legitimate. Yeah they'd like more, but they've got opportunities
So why then is it, according to Hubspot that they only close on average 33% of those highly qualified opportunities?
The reality is most founders are already sat on the biggest growth opportunity, they just don't know it or know what to do with it.
What if I said you should convert at least 2x the volume of deals you have in your pipeline?
Most founders would readily agree, especially technical or product founders.
But they don't know how, and that causes a rub.
One thing me and my teams have done consistently done since 1998 is beat the industry average conversion by a significant distance.
But how?
The 8 Critical Phases of Sales Discovery
The secret lies in how we prepared for, ran and followed-up sales discovery meetings.
For all subscribers I will shortly publish a playbook that reveals the detail behind how me and my teams routinely smashed the industry conversion rates.
Stay tuned, and thanks for reading.
Wayne
About: Wayne Morris is Founder of Morris Consulting, LLC a consultancy practice advising multiple tech companies in US and Europe on building optimal go-to-market motions. Formerly Chief Revenue Officer at Wonderschool Inc, an a16z backed Edtech SaaS & Marketplace start-up, where he led and executed a successful pivot during the pandemic that resulted in $multi-million ARR and industry leading growth. Prior he was Chief Revenue Officer and a long-standing member of the executive team at Guidebook, where led the company through 5x growth across US, EMEA and APAC over a 6 year period. Previously he was GM of Maxymiser UK where he was part of the leadership team that led the company through 14x growth in 4 years, prior to them being acquired by Oracle. Wayne also had stints in sales leadership roles at leading AdTech firm Criteo, and Kelkoo (acquired by Yahoo!) in UK, and Hitwise (acquired by Experian).