“The Critical Elements of Proactive Client Retention” is the most recent Sandler Research Center survey project, which closed to survey participants on May 31. We are now performing data analysis and will soon publish our complete findings. In advance of that report, I’ve followed, with great interest, the results from a single question asked among the 25 questions of the survey and want to share the findings. The question we asked:
*Forecasted Revenues* – For a typical major account, what percentage of change do you project in forecasted revenue this year?
Considering the business climate and all the changes brought about by the global coronavirus pandemic, I’ve been interested to see how the responses to that question mirror much of the anecdotal information I’ve been hearing from the sales space. After further analyzing that question, I’ve come to some data-based conclusions – none of which may be different from what many have hypothesized – but now are substantiated based on survey data from the Sandler Research Center.
To begin, data from all survey participants reveal a result roughly divided in thirds.
- 36.8% replied that forecasted revenue for the year will increase
- 30.8% responded that forecasted revenues will decrease
- And 32.5% replied that forecasted revenues will remain the same
For a typical major account, what percentage of change do you project in forecasted revenue this year? Overall Survey Results
When you examine those replies, cross-referenced with the size of the respondents’ company, as determined by its annual revenue, the story is more telling. Respondents from the smaller-sized companies were more likely to expect forecasted revenues for this year to decrease or remain the same. In fact, the data from the largest-sized companies were significantly more likely to expect an increase in revenue this year, and much less likely to expect a decrease.
For a typical major account, what percentage of change do you project in forecasted revenue this year? Results based on annual company revenue
Analysis of the results of that same question and cross-referenced with the self-reported industry of the respondent, tells a story which shows differing optimism in different industries. Survey respondents from the Financial Services and Construction industries are far more optimistic as those in Consulting or Technology.For a typical major account, what percentage of change do you project in forecasted revenue this year? Results based on respondent’s industry
One last analysis is based on the timing of the response to our survey. This survey collected survey responses during the months of April and May 2020. The replies to that same question from April are less optimistic than those collected in May – supporting a feeling of growing economic optimism, even if ever so slight, during those months.
For a typical major account, what percentage of change do you project in forecasted revenue this year? Results based on month of response
The complete analysis of The Critical Elements of Proactive Client Retention survey will be published soon and available to all those who participated in the survey. Those who did not participate but are interested in the results will find an abbreviated report published here once available.
The survey was fielded in April and May 2020 and collected responses from 887 surveys submitted. Results were received from a global audience comprised of: 76% from North America, 15% from Europe 3.5% from South America and the remainder from Asia, Africa and Australia.