Discovering Key Trends in Sales
Data is an amazing thing, when we look at it we can see trends and insights that can help us be better at what we do. For example, imagine knowing that is takes, on average, 3.68 calls to reach a prospect. That knowledge would hopefully encourage you to make at LEAST 4 attempts to reach your prospects.
Now the problem is things change.....
And with that, the data needs to change and be updated. Looking at it now, it takes 8 calls on average to reach your prospect!! If you were going by previous data you'd be giving up at 4-5 attempts, missing tonnes of opportunities.
To help here are some of the LATEST statistics out there to help give you the insight and advantage you need to sell more as we turn into 2021.
1) Studies show that asking between 11–14 questions during the course of a lead call will translate to 74 percent greater potential success. (Source - Gong.io)
2) Almost six in 10 buyers want to discuss pricing on the first call. (Source - HubSpot)
3) Customers are 4x more likely to buy when referred by a friend. (Source - Neilsen)
4) 80% of sales require five follow-up phone calls after the meeting. (Source - Marketing Donut)
5) Several industries reported a 50 percent revenue increase with social media selling. (Source - Forbes)
6) 75% of 1,000 executives polled were prompted to attend an event or take an appointment as a result of a cold call or email. (Source - DiscoverOrg)
7) 43% of consumers are more likely to buy a new product when learning about it from friends on social media. (Source - Neilsen)
8) About 47% of top performers ask for refferals consistently, versus only 26% of non-top performers. (Source - HubSpot)
9) In 2007, it took 3.68 cold call attempts to reach a prospect. In 2020 it takes eight attempts. (Source - Spotio)
10) 79% of all marketing leads are never converted to sales. (Source - Salesforce)
11) The biggest challenges today's salespeople face: Establishing urgency (42%), Getting in touch with prospects (37%) and Overcoming price objections (35%) (Source - HubSpot)
12) 44% of salespeople give up after one follow-up. (Source - Scripted)
13) 40% of emails are opened on mobile first, and the average mobile screen can only fit four to seven words max in the subject line. (Source - ContactMonkey)
14) The best days to call are Wednesdays and Thursdays from 6:45 to 9:00 a.m. and 4:00 to 6:00 p.m.(Source - RingLead)
15) CRM system adoption increases sales by up to 29%. (Source - Salesforce)
16) 73% of executives prefer to work with sales professionals referred by someone they know. (Source - IDC)
17) 55% of B2B buyers search for information on social media. (Source - Blender)
18) The most successful reps use terms that inspire confidence, such as "certainly," "definitely," and "absolutely," five times more often than low performers. (Source - Gong.io)
19) 79 percent of salespeople achieve quota by using social selling techniques. (Source - Microsoft)
20) On average, people made 33 dials per day. This is down from 38 in 2012. (Source - ForEntrepreneurs)
21) Research shows that 35% to 50% of sales go to the vendor that responds first. (Source - InsideSales.com)
22) Adding the word “New” to your subject line can increase open rates by 23%. (Source - Adestra)
23) Only 7% respond to leads in the first five minutes after a form submission. More than half don't respond within five business days. (Source - Drift)
24) Subject lines with three to four words get more responses than shorter and longer ones. (Source - HubSpot)
25) Nurtured leads make 47% larger purchases than non-nurtured leads. (Source - The Annuitas Group)
26) High-performing sales organizations are twice as likely to provide ongoing training as low-performing ones. (Source - HubSpot)
27) 32% of buyers post a review on social media. (Source - Avande)
Did any of these statistics shock you?
Were there any that you are finding to be happening to you right now?
Which ones have inspired you to work differently?
Let me know by dropping me an email via email@example.com or via a text to 972.740.4300!
One last item before signing off on this note, i'm attaching my latest whitepaper on managing growth in 2020-2021 (download below).
To schedule your free consult with me, please email me via firstname.lastname@example.org or visit mattallendevelopment.com.