Financial Services

Financial Services

Based on responses from 899 companies across a variety of industries and sizes, including 60 respondents from the financial services industry, The B2B Sales and Marketing: Key Benchmarks and Best Practices Report provides real world benchmarks that enable financial services executives to understand the key sales and marketing drivers of the financial services industry and their own business.

Containing 139 charts and graphs, the report provides insight on the effectiveness and use of nearly all sales and marketing channels and tactics for companies in financial services.   With 60 respondents from financial services, there is a tremendous amount of information for businesses to benchmark against their competitors.

Among the charts with direct industry comparisons for financial services companies are:
Average Variable Compensation As A Percentage Of Base Salary By Industry
Base Sales Compensation: Highest Paid vs. Lowest Paid By Industry
Number Of Respondents By Industry
Policy On Sales Commission Caps By Industry
Total Compensation Multiple: Highest Paid vs. Lowest Paid By Industry
Total Marketing Expenditure As A Percentage Of Revenue Among Financial Service Companies
Total Marketing Expenditure As A Percentage Of Revenue By Industry
Total Sales Compensation By Industry – Bottom Quartile
Total Sales Compensation By Industry – Median
Average Base Sales Salaries By Industry
Average Contribution Margin on New Revenue By Industry
Average Lead Time to Close a New Sale By Industry
Average Number Of Sales Emails and Calls Per Week Per Salesperson By Industry
Average Number Of Visits Made Per Salesperson Per Week Among Manufacturers
Average Number Of Visits Made Per Salesperson Per Week By Industry
Base Sales Compensation: Highest Paid vs. Lowest Paid By Industry
Channel Mix By Industry
Investment In Sales and Marketing As A Percentage of Total Revenues – Median By Industry
Investment In Sales As A Percentage Of Revenue By Industry
Median Percentage Of FTE’s In Sales By Industry
Percentage Of Repeat Customers By Industry
Percentage of Total Sales from New Customers By Industry
Revenue per Customer By Industry
Sales Executives and Supervisors Per 10 Sales People By Industry
Salesforce Productivity: Average Revenue per Salesperson By Industry

SalesMarketing BarChart 170

The B2B Sales and Marketing: Key Benchmarks and Best Practices contains a number of charts specific to companies in financial services. Among these, total marketing expenditure as a percentage of revenue among financial services companies allows you to benchmark your marketing spend against your competitors.

On average, financial services companies allocate 14% of revenue on marketing personnel and 7% on other marketing costs. In this report, you can also see if your company’s marketing expenditure places you closer to the 25th percentile, the median, or the 75th percentile of construction companies in terms of marketing expenditure. If your sales are slowing, and new customer acquisition has become a challenge, consider increasing your marketing expenditure.

There is a large variance in marketing expenditure for financial services companies. The data shows that financial services company in 75th percentile of marketing expenditure allocate 50% more capital on marketing personnel than the average, and 42% more revenue is spent on other marketing costs as well. Financial services companies which invest in marketing personnel and other marketing activities tend to increase revenue at a greater rate than financial service companies who allocate less revenue towards marketing.

SalesMarketingBarChart89

As an executive at a financial services company, it is important your sales force is active in making visits to clients and potential clients. The B2B Sales and Marketing: Key Benchmarks and Best Practices offers industry data for the average number of visits made per salesperson per week.

For financial services firms, the average salesperson makes about 6 visits per week. There is a tremendous variance in the activity of salespeople in financial services firms in the 75th and 25th percentiles; in fact, salespeople in the busiest financial services firms make five times as many visits per week as salespeople in the 25th percentile.

As an executive at a financial services company, how do you measure the activity of your sales force? If your firm isn’t growing as fast as your competitors, perhaps your sales team isn’t making enough sales visits. The B2B Sales and Marketing: Key Benchmarks and Best Practices offers tremendous insight to help your sales team increase their productivity and help your firm grow faster than the competition.