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UK firms lose £15,000 per month to inaccurate sales activities

  • 43 per cent of businesses struggling with fluctuations in sales performance
  • 1 in 4 sales professionals still rely on pen and paper to keep track of their work
  • 35 per cent feel their contribution to UK economy is under-appreciated

London, 23 July 2018Pipedrive, the leading sales pipeline software and CRM of choice for over 75,000 companies, today published data from 1006 UK sales professionals, conducted by YouGov. The report provides a snapshot of key trends and pain points affecting the UK’s sales staff. In particular, the data shows a number of inefficiencies within UK sales activity. Respondents shared concerns around sales performance, use of technology, and wider macro-economic factors.

Key findings

Overall, nearly three quarters (74 per cent) of sales professionals surveyed feel the need to raise their sales performance. Some 36 per cent feel that pressure has increased on the sales team in the past 12 months. For 1 in 3, time efficiency is a real concern.

The data also reflects how sales teams often feel unsupported or under-invested within UK companies. Worryingly, fewer than one in four (23 per cent) currently feel part of a well motivated sales team.

Technology, which has had a dramatic impact on almost every other business function, is not currently guaranteeing all UK businesses optimised sales activities. A staggering 26 per cent still rely on pen and paper to manage their sales pipeline. In the past 12 months, 1 in 4 companies lost sales by failing to follow up with leads.

As a result, respondents believe their business loses on average almost £15,000 in sales every month due to disorganisation and inaccuracies. In an increasingly competitive market, and with many teams needing to secure national and international sales, unfocused or inaccurate activities could be costing the UK billions per month in lost sales.

Hit or miss technology

Sales professionals are concerned that inadequate use of technology is impacting their bottom line. Many are missing out on key technology benefits, with one third (33 per cent) reporting that not all the tools and software available within their team are being fully used.

Only 11 per cent state that software has led to an increase in their success within the past 12 months. Furthermore, 74 per cent are not completely satisfied with the technology (software and systems) that they use to do their job.

Like many professionals, salespeople recognise that in time technology could be transformative for their industry - such as concerns about the impact of AI on their job security. 60 per cent of respondents recognise that the product or service they currently sell could be sold by a machine. A key challenge for sales teams today is to automate the right tasks, and maintain high quality human relationships across the remainder.

CEO & Co-founder of Pipedrive, Timo Rein, comments, “In many businesses, sales as a function has been neglected and sits at a tipping point. Management needs to disengage with the traditional definition of ‘sales tasks’ and think long term about modern sales outcomes. Revenues increase when you support sales teams with technology and techniques that organise their work, and prioritise the value of customer relationships before, during and after individual sales”.

Brexit, what Brexit?

Both Brexit and GDPR come relatively low down the list of concerns keeping salespeople awake at night. Only 36 per cent believe that Britain leaving the EU will limit their performance levels, whilst just 17 per cent are concerned that GDPR will hamper results. Interestingly, the two main concerns are increased competition (55 per cent) and customers becoming more resistant to sales activity (45 per cent).

Unsung economic heroes

Many salespeople feel that the vital role of sales is rather taken for granted in society. 35 per cent believe that the contribution salespeople make to the economy is under-appreciated by the general public. Interestingly, men feel more undervalued than women, with 40% of respondents feeling their contribution to the economy is under-appreciated, whilst only 26% of women feel the same.

The data also suggests that the industry is working hard to raise standards, with 75 per cent agreeing that they provide ‘great service to customers’ and 70 per cent stating that they ‘always sell responsibly’.

About Pipedrive

Pipedrive is the weapon of choice for salespeople in scaling companies – the sales CRM pipeline platform that makes selling simple. Pipedrive keeps things moving, stops tasks falling through the cracks and kills the tedium of admin. Pipedrive ensures that sales activities remain targeted, ambitious and realistic. Today, over 100,000 customers in 170 countries, and across 100+ industries leverage Pipedrives’ award-winning software to manage their sales process.

Founded by seasoned sales professionals, Pipedrive launched in 2010. It is one of the fastest growing cloud-driven SaaS companies worldwide, having raised $80m in funding from investors including DTCP, Atomico, Insight Venture Partners, Bessemer Venture Partners, Rembrandt Venture Partners and Paua Ventures.