The buyer’s journey has changed. Show
With the internet at our fingertips, consumer’s have the ability to research and compare solutions like no generation before. They also have access to mountains of user generated content like peer reviews – which are trusted nearly as much as referrals. More empowered buyers has resulted in longer sales cycles. People no longer go straight to the source to make purchase decisions. Today, there are an average of 7 decision-makers involved in the B2B buying process. And, 50-90% of the journey is complete before a buyer interacts with a sales rep. This shift in behavior should be taken seriously by any sales team, whether inside or out in the field. With so much change, sales managers need to look at current research and trends to find insights to guide strategies. Here is a list of 130 sales statistics broken out across 20 categories. Use the data to drive your sales approach into the second half of 2019. Note: We have included a table of contents below so you can jump to specific statistical categories:
1. Inside Sales StatisticsInside sales is one of the fastest growing areas of the sales organization. Statistics suggest that one of the largest growth levers of inside sales is the opportunity it presents a company to be a “first responder”.
2. Outside Sales StatisticsOutside Sales is probably what you think of when someone says “salesman”. While the sales ecosystem is shifting, this field still has some of the highest quota attaining percentages out there.
3. Sales Prospecting StatisticsThe way companies prospect for leads is changing. Face to face used to be the best (and sometimes only) way to really connect with potential clients. Now with the introduction of mobile devices, email, texting and other digital channels, reps have countless avenues to find, vet, and reach prospects.
Takeaway: Prospecting is one of the hardest tasks assigned to a sales rep. Today’s technology makes it easier to find, and reach, prospective customers. Invest in a toolset that allows you to quickly build profiles and find accurate lead data in your target market. For example: SPOTIO’s Lead Machine gives reps and managers a competitive advantage because they are able to quickly build detailed customer profiles and map territories filled with qualified prospects in minutes. 4. Sales Call StatisticsYou might have heard the saying, “cold calling is dead”. Well, the data suggests otherwise. An industry study showed companies who said cold calling is dead experienced 42% less growth than those who said it was alive.
Set clear call goals, and always track activity in your CRM. 5. Social Selling StatisticsWhile almost everyone is on social media these days, adoption and integration into the selling process is slow. Most reps rely exclusively on email and phone calls to find, close and retain business. While these channels are all important, missing the social selling train can be very costly.
6. Sales Referral StatisticsReferrals are gold. Getting a referral from a happy client is stronger than any sales pitch you could make. Despite the bottom line value of weaving referrals into the fabric of your sales process, very few reps are actively asking for them.
7. Sales Email StatisticsEmail is one of the most powerful sales tools for any company – the channel has a reported 44:1 ROI. With so much potential, comes a lot of competition. The average person receives 147 emails every day! The battle to stand out in the inbox is more fierce than ever. Sales teams need to embrace and adapt to this challenge if they want to realize the bottom line benefits of email marketing.
Bonus: Use social and email together to get higher engagement rates. A simple way to do this is connecting with prospects on social media prior to sending emails. Once the connection has been made prospects will be more likely to open an email from a familiar source. 8. Sales Follow-upMost reps give up on the sale way too early. Prospects typically require multiple touchpoints across numerous channels before they ever speak to a sales rep, especially in a B2B setting where sales cycles are longer with more decision-makers.
9. Sales Closing
10. Lead Nurturing StatisticsThe sales cycle is longer and more complex. As a result, the way businesses generate and nurture leads is changing. Single touchpoint sales are rare. Both marketers and sales teams now need to work together closely to guide consumers along the path to purchase. Companies who have implemented a repeatable system for nurturing leads have shown much higher lead-close rates.
Takeaway: Make sure you have a sales CRM in place to
educate, build trust, position and move prospects through the funnel. 11. Lead Qualification StatsNot all leads are created equal. Ensuring your sales team is only “working” the most qualified prospects (SQLs) will help improve productivity – save time, energy and money – and boost conversion rates.
12. B2B Sales StatisticsThe B2B sales process is longer and much more complex than ever a few years ago. There are more decision makers involved with many more touch points along the way. As a result, much of B2B sales process is done well before a rep ever contacts a prospect.
13. Inbound Sales StatisticsToday’s buyers are more educated than ever before. No longer should sales and marketing teams operate in silos. Teams need to collaborate using content to not only educate and engage buyers, but to also enable sales reps to become effective closers.
Craft content that answers those questions, and amplify it across the channels where your target customers spend the most time. The more educated the buyer, the faster and easier they close. 14. Outbound Sales StatisticsOutbound sales can be the lifeblood of your company. The trick is making sure sales reps are put into a position to succeed.
15. Sales Productivity StatisticsIn an ideal scenario, sales reps would spend all their time prospecting, sending emails, making phone calls, following up and nurturing leads. But, as you’ll see, this is not the case. In fact, most of a reps time is spent on non-sales activities.
16. Sales Training StatisticsHiring dynamic reps who are passionate about your product or services is only half the battle when it comes to building and retaining a high-performing sales team. Today, over half of reps lack basic sales skills, and don’t receive adequate training. This is crazy when you consider ongoing training is the leading driver of high-performing sales organizations.
17. Sales Career StatisticsThe sales industry isn’t for everyone. Large scale turnover is a real thing. Understanding this can help companies prepare for, and handle the change. Statistics show what kind of people will succeed in the sales industry which can help inform the hiring process. The Bureau of Labor Statistics projects 6-percent employment growth for sales representatives by 2026
Takeaway: Sales is hard. Turnover is a lot higher than other industries. It’s critical your organization has a clearly defined process for finding, interviewing and hiring high-performing reps. Look at the top sales reps and make a list of what makes them good for the position. Hire more of those people. 18. Sales Success StatisticsThere are a lot of good sales reps, but few are exceptional. In order to be better than good and become successful, reps must to earn the trust of their prospective buyers. What approach can you take to go from a good rep, to a great success?
19. Sales CRM StatisticsSales CRM’s are an imperative tool for a modern sales team and a very powerful tool to have in your arsenal.
20. Door-to-Door Sales StatisticsIn the age of technology and remote working, door-to-door sales is very much alive and well. Being successful takes grit, persistence, and a “never say die” attitude. To be a successful D2D sales rep, it takes:
______ Questions or comments? Contact SPOTIO at [email protected] or comment below. SPOTIO is the #1 field sales acceleration platform designed specifically for outside sales managers and reps to squeeze every drop out of their field sales efforts. Want to see a product demonstration? Click here to see how SPOTIO can take your sales game to the next level. What does cold prospecting mean?And if you wait for leads to come to you, you'll never reach those people who don't know about you and what you have to make their lives better. Cold prospecting is where you go looking for those opportunities.
How do you reach out to a cold prospect?Let's have a look at five ways to reach out to a prospect for the first time.. Email Outreach. Emailing your prospects first ensures an obligation-free start to the conversation. ... . Giving them a Call. ... . Social Media Outreach. ... . Forget Cold Outreach. ... . More Conversation, Less Selling.. Which of the following is true about direct mail prospecting used by selling firms?Which of the following is true about direct-mail prospecting used by selling firms? It incurs a relatively low cost when compared to the cost of using salespeople.
What are the methods of approaching prospects?10 trending tips for sales prospecting. Create an ideal prospect profile. ... . Identify ways to meet your ideal prospects. ... . Actively work on your call lists. ... . Send personalized emails. ... . Ask for referrals. ... . Become a know-it-all. ... . Build your social media presence. ... . Send relevant content to prospects.. |