Statistical reports are the best and easiest way to derive the results of your efforts.
These statistics help you in understanding where your resources are getting used and whether they are drawing any positive results for you or not!
With that note, we would like to present some insightful statistics.
These have been compiled from Salesmate research program and other resources from the web!
For your convenience, we are dividing this article into 10 major segments.
- Sales prospecting
- Sales follow up
- Sales call
- Sales email
- Social selling
- Sales referral
- Lead nurturing
- Sales closing
- B2B sales
- Sales productivity
These segments have been decided based on the elements every sales bound organization follows for closing their deals.
After all, revenue generation drives more effort than anything else.
Below infographic explains the 66 sales statistics that will help you plan better deal closures in 2020.
We hope these insightful facts helped you understand the importance of creating your own sets of sales strategies.
To give you a proper hand-on experience, let’s go through these statistics on final time.
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1. Sales prospecting statistics
The process of sales prospecting in companies is changing.
The time when only face-to-face meetings made more impact on the prospect is now gone.
Digitalization has introduced mobile devices, email, texting, and other digital channels.
These channels come in handy for the reps for finding, reaching and nurturing prospects.
Here are some sales prospecting statistics for your knowledge.
- 40% of salespeople agree that prospecting is the most challenging part of the sales process
- Closing follows at 36% and qualifying at 22%
- 8 in 10 prospects prefer talking to reps over email
- 78% of sales reps prefer email as their preferred communication channel
- 34% of prospects will readily communicate with sellers at industry events
- 21% will like to communicate using LinkedIn
- 21% prefer text messages as the point of communication
- 21% of the prospects want sales reps to leave voicemails
- 18% of prospects like social media interaction with sales reps
- In comparison to the above point, 70% of reps prefer telephonic conversation
- More than 50% of prospects want to see the product’s functionality on the first call itself
- 9 out of 10 companies use more than 2 lead enrichment tools
- 70% of prospects use videos to help them make purchase decisions
Prospecting is one of the toughest tasks that are assigned to sales reps.
Using a smart CRM technology with profile enrichment integrations helps smooth completion of such tasks.
CRM software allows your sales 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.
2. Sales follow up statistics
Following up on the hot lead at the right time is crucial for proper deal progress.
You might want to have a look at these statistics if your sales pipeline is seeing more bad leads off-late.
Some of your sales reps might have been giving up on the deals way too easily.
We hope these sales follow up statistics will be helpful to you.
- 80% of sales require 5 follow-up calls after the meeting
- 44% of sales reps give up after 1 follow-up
- 50% of buyers choose the vendor that responds first
- Drift tested response from 433 companies
- Only 7% responded in the first five minutes
- Over 50% didn’t respond within five business days
- It takes around 8 follow-up calls to reach your prospect
Train and motivate your sales reps to be prompt and persistent but in a gentle manner.
Plan multiple follow-ups using various channels at a regular interval works wonder for sales reps in closing deals.
3. Sales call statistics
Cold calling may be frowned upon by prospects, but it is the best channel that helps you reach out to them.
We are sharing some interesting sales call statistics.
- Only 2% of the total cold calls fetch an appointment – Leap Job
- 74% of companies don’t leave voicemails
- On average, sales managers make no more than 2 attempts to get a lead through cold calls
- In 2007, it took 3.68 cold call attempts to reach a prospect. The attempt has gone up to 8 cold calls
- 42% of sales reps feel they don’t have enough information before making a call
- Sales reps spend about 15% of their time leaving voicemails — Ringlead
- The optimal length of your voicemail message must be between 8 and 14 seconds
- 44% of salespeople give up after one follow-up call
- The best time to cold call is between 4:00 and 5:00 PM or between 11:00 A.M and 12:00 P.M
Being persistent is the key.
Making cold calls will never be an easy task.
The key to success is providing your reps with call scripts and train them on handling the common sales objections.
4. Sales email statistics
Sales email work as an invitation envelope.
You insert your company info, your offerings and the price and promotions inside the body of your email while not sounding too much “sales driven”.
The communication tool has made its mark in the business community for being the most efficient revenue generation tool.
As long as the subject line and the email content is offering some value to the recipient, email is the sales tool for you.
- An average buyer receives 100+ emails every day but opens just 23%, and clicks on just 2% of them.
- 44% of email recipients made at least one purchase last year based on a promotional email
- 40% of emails are opened on mobile-first
- Personalized emails improve click-through rates by 14% and conversion rates by 10%
- Using the words “Sale,” “New,” or “Video” in subject lines boost email open rates
- Personalized subject lines increase email open rate by 22.2%
Buyers are often getting bombarded with various deals and offers from their banks, nearest shopping mart, online shopping sites, and telecom service providers.
Crafting a catchy subject line along with an attractive content gives you the edge that is required to get your emails opened.
5. Social selling statistics
Social selling has a very warm vibe to it.
The simple reason being that this process includes building a better relationship with your prospects and their contacts over the social channels.
The world today is overrun with social media platforms such as Twitter, Instagram, Facebook, and LinkedIn.
Your sales reps hunt for connection on these channels.
They pitch your solution to the connections that match the buyer persona.
Then only they build a relationship before going ahead with the sales pitch.
- 65% of salespeople using social selling fill their pipeline, compared to 47% of reps who do not
- 78% of salespeople using social media outsell their peers
- 31% of B2B professionals said that social selling allowed them to build deeper relationships with their clients
- 63.4% of sales reps engaged in social selling report increase in their company’s overall revenue
- Using social selling tools increases the average deal size by 35%
Encourage your sales reps for social selling as it will introduce more prospects to your sales pipeline and outsell your competitors.
Make social selling a part of your sales process.
Creating warm connections with your prospects results into higher prospect response rates, and get your reps more appointments.
6. Sales referral statistics
Sales referrals are like a jackpot for every business.
If a happy client provides you with a referral, then you have nurtured your relationship well.
Asking for referrals is a crucial part of your sales success. It also allows you to expand your customer base.
- 73% of buyers prefer to work with sales professionals referred by someone they know
- Salespeople actively seeking referrals earn 4 to 5 times more than those who don’t
- 84% of buyers now start their buying process with a referral
- 92% of buyers trust referrals from their inner circle
- 91% of customers confirm they are willing to provide referrals
- However, only 11% of salespeople ask for referrals
- The lifetime value of referred customers is on average 16% higher than that of non-referred customers
Ask for referrals – get more sales. As simple as it can be!
There is no better way to start a sales process than with a referral from a trusted friend or colleague.
Make this a mandatory part of your ongoing sales strategy.
Specifically, make it a point to ask for referrals after positive customer engagements – testimonials, reviews, and high NPS scores.
7. Lead nurturing statistics
The 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.
- Nurtured leads produce, on average, a 20% increase in sales opportunities versus non-nurtured leads – DemandGen Report
- Companies excelling at lead nurturing generate 50% more sales-ready leads at 33% lower cost – Forrester Research
- 51% of email marketers say email list segmentation is the most effective way to personalize lead nurturing – Ascend2
Make sure you have a sales CRM in place to educate, build trust, position and move prospects through the funnel.
As you plan out a lead nurturing sequence, think about the types of information a lead will need.
- to be tagged as sales-ready
- move into the opportunity phase, and
- ultimately close into a paying customer
This content will likely be different for each persona.
Make sure you are properly segmenting lists in the CRM to ensure the right information is sent to the right person, at the right time.
8. Sales closing statistics
So what exactly is sales closing?
In simple words, sales closing is the process of making and finalizing sales.
Conversion of a prospect into a paying customer marks the end of your sales process, hence the word closure.
- Profitable companies are closing 30% of sales qualified leads
- 48% of sales calls end without an attempt to close the sale
- The national sales closing rate was 27% back in 2014
Closing sales deals is like an adrenaline rush that pushes your reps over the fence.
Those who enjoy doing the closure will go to any length to complete their sales quota.
Those who find it hard will surely avoid it.
A clear call-to-action for every touchpoint such as scheduling your calls, follow-up calls with key decision-makers will help your sales process moving along.
9. B2B sales statistics
The B2B sales process has grown longer, with multiple decision-makers involved.
It is becoming more complex with the passing time.
With multiple decision-makers, the touchpoints also increase along the way.
- In a firm with 100-500 employees, at least 7 people are involved in most buying decisions – Gartner Group
- Around 9 out of 10 B2B buyers say online content has moderate to major effect on their purchasing decision
- 67% of the buyer journey has become digital – Sirius Decisions
- Around 84% of CEOs and VPs are using social media for their purchasing decisions – IDC
- 62% of B2B buyers say web search is one of the first three resources they use
- Around 80% of business decision-makers prefer to get company information from a series of articles instead of any advertisements – B2B PR Sense
- 84% of B2B decision-makers begin their buying process with a referral – Sales Benchmark Index
B2B buyers research and compare competitor’s products before making their purchasing decision.
As a business organization, you must build comparison guides for buyers to weigh their options and decide who is providing superior offering.
Use such guides as your sales enablement material which can be referred by the reps and can be shared with the prospects too.
10. Sales productivity statistics
In an ideal scenario, sales reps would spend all their time prospecting, sending emails, making phone calls, following up and nurturing leads.
However, that’s not the entire case.
In fact, most of reps time is spent on non-sales activities.
It takes more than 10 months for a new sales rep work productively
- Only 60% of sales reps meet their sales quota
- A company loses between 10% and 30% of its customers each year
- 92% of companies are leveraging CRM, but less number of salespeople using CRM as part of their daily workflows
- At least 50% of your prospects are not a good fit for what you sell
- Continuous training gives 50% higher net sales per employee
For improving your sales teams’ productivity, you must have the right sales tools and the correct sales process in place.
In the end, it is not about how hard you can make your sales team work towards the completion of their sales goals.
It is about how smartly they can achieve sales quota and give you better sales results with much manual labor.
We hope that these 66 sales statistics will help you focus on the previously unexplored avenues.
The idea behind writing this article is to introduce the various factors that go into planning your entire sales process.
Do share your valuable inputs on this content with us.
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