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Accounting Firm Problem An accounting firm sells services which include audit, valuation, compliance and IT assessment. The company's marketing efforts are now focused on the
Accounting Firm Problem
- An accounting firm sells services which include audit, valuation, compliance and IT assessment. The company's marketing efforts are now focused on the mid-market, and while they are well known, this is market is new to them. The average sale for a project is $50k and has a typical sales cycle of 6-9 months. The company defines a lead as someone who is BANT qualified (has demonstrated the have budget, authority, need and have an identified timeframe - Level 6). The sales team is underperforming and often losing to competition. Please look at the waterfall and determine how they can improve. Please address the following:
- Under the current waterfall performance, how many inquiries will be required to generate the same number of units sold for the industry average companies and best practice?
- What are potential issues you can see from the data, and how would you advise them to improve?
- If there are SLA's which maybe an issue, which ones and why?
- What will the impact on performance be should the company get to industry benchmark? What about best practice? Please comment on the revenue, units sold, and sales pipeline sourced.
Accounting Firm's Waterfall Data
Waterfall Analysis Professional Sevices (Accounting) ASP $50K Company Average Best Practice Inquiry to AQL 4% 8% 11% AQL to TAL 50% 72% 80% TAL to TOL 90% 53% 67% TOL to SAL 27% 88% 92% SAL to SQL 80% 61% 70% SQL to Won 19% 29% 33%\f\fStep by Step Solution
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