Salesloft, in partnership with Benchmarkit, conducted research in the first half of 2023 to benchmark the state of Revenue Engagement and Revenue Performance.
Who did we study?
- 264 companies
- A broad cross-section of sizes, annual contract values, and go-to-market models
- Based in the United States and Europe
What did we find?
- 55% of participants say pipeline generation is their #1 challenge to revenue growth. There’s a real opportunity for enhancing engagement processes here.
- Only 50% of AEs and 55% of Sales Development Representatives hit quota. It’s imperative to quickly identify coaching opportunities and provide proactive data-driven guidance to help reps enhance the quality of engagement and drive conversion at each step.
- Marketing and Sales Development are only measured on existing customer expansion pipeline contribution in 26% and 32% of companies, respectively, which is concerning due to the increased dependency on expansion revenue in 2023.
- 2-3x lower cost to expand existing customer revenue than new customer revenue. Customer expansion marketing and sales development is an opportunity for efficient revenue growth.
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