Palo Alto, Calif.—A joint report by the CMO Council and the Business Performance Management Forum found that U.S. companies may be experiencing huge losses in potential revenue as a result of mismanaged new business development activity.
The study was based on an online survey of approximately 800 C-level executives in the third quarter.
According to the report, nearly three-quarters of respondents said they could increase revenue by at least 10% with better business development practices; and 37% said they could increase the top line by more than 20%.
The study found that an estimated 80% of leads are typically lost, ignored or discarded.
Also, 73% of respondents said their company has no process for re-qualifying and revisiting business leads.