22 Sales Statistics to Help You Sell Better
The British Prime Minister Benjamin Disraeli once said that “There are three kinds of lies: lies, damned lies, and statistics.” The sheer power of numbers to influence people’s thinking and decision making is only getting stronger, as we’re struggling to make sense of the vast amounts of information coming at us every day. With numbers, the story is always simple — it’s either good or not so good for your business to do (or not do) something.
Sales is a fast-paced job that requires a lot of energy, planning ahead and strategic thinking. Who’s got the time to collect interesting statistics (AND make sure they’re not lies) from around the web? Exactly, not sales reps.
So we got out there and gathered the most remarkable, eye-opening sales statistics that will shatter your old beliefs and perceptions.
A taster: According to InsideSales, if you follow up with web leads within 5 minutes, you’re 9 times more likely to convert them.
35% of email recipients open email based on a subject line alone. (Convince & Convert)
There’s so much science behind writing a strong subject line. With a huge number of people using a subject line to decide whether to hit delete or take a peek inside, a poorly performing one can quickly become a sales rep’s worst nightmare. To connect with prospects and showcase the benefits of a certain product, or to deliver unique value, one must first entice the prospect to click through to the email. If you can improve your subject lines by implementing best email subject line practices, such as, for example, including words “alert”, “sale”, “new”, or “video”, your team will be able to boost their performance.
Email is 40 times more effective at getting new customers than Facebook and Twitter combined. (McKinsey)
Acquiring new customers is the single most important mission of every sales team. Time management and task prioritization are hugely important when it comes to generating a good amount of leads and hitting sales targets. If your sales team knows which channels perform best, they can throw all their efforts at them and improve their numbers. Email, it seems, is the king of lead generation.
Lead nurturing emails generate an 8% higher CTR compared to general email sends, which generate just a 3% rate. (HubSpot)
We have talked extensively about the importance of building a robust sales process. One of the key parts of that process is lead nurturing, for only a small fraction of all sales leads eventually convert. Since email is the preferred communication tool online, crafting better and more targeted lead nurturing campaigns helps sales teams qualify leads and move the really interested ones down the funnel much faster and more efficiently. Lead nurturing emails differ from general emails in many ways; they can be adapted to every lead’s stage in the buying cycle, they use more targeted and personalized language as well as provide higher value to prospects inspiring trust and loyalty.
92% of buyers say they delete emails from unknown senders. (A Sales Guy)
This is an anxiety-inducing stat for sales teams that heavily rely on cold email outreach campaigns. Buyers are increasingly protective of their “personal” online space and guard their contact details fiercely. Violating that personal space will almost always end the seller-buyer relationship before it even gets a chance to spark. A much better way for sales teams to capitalize on the power of emails is through content marketing and lead nurturing campaigns. Once you get people’s consent to send promotional messages in the future, the spam folder becomes less of a threat to sales email campaigns.
The average sales rep spends up to 4 hours per day following up on leads by sending emails and faxes, following up on calls, formatting proposals and doing other admin tasks that can be eliminated using pre-drafted templates and automation. On average it could take about 45 minutes to create an email proposal the standard way, and only 2 minutes if a template was used. (Insidesales)
For a sales team, nothing costs more than wasted time. Using email automation and customizable email templates to cut down on admin workload is an excellent way to enforce prioritization and optimize sales processes. If a sales rep can have extra 40 minutes following up on warm leads, s/he stands better chances of closing more deals every day. A good CRM can prove to be essential to create a database of customizable templates that can be personalized using unique customer and product data and to execute email automation to perfection.
Lost productivity and poorly managed leads cost companies at least $1 trillion every year. (CMO Council)
Losing productivity and money is a bleak prospect for any sales team. A robust sales CRM can help you keep the lead generation and management under control as well as spot (and fix) any issues in almost real time. Unloading the information off their heads and leaving no room for human error, sales reps can focus on building relationships rather than concerning themselves with unimportant details.
95% of buyers choose a solution provider that “Provided them with ample content to help navigate through each stage of the buying process.” (The Whole Brain Group)
The purpose of content marketing is to give prospects the answers that they need. As they scour the internet in search for the type of information that appeals to them, they can quickly progress from the lowest awareness stage to a ready-to-buy mindset. To ensure your product or service stays top of mind as prospects move down the funnel, it’s a great idea to engage them at relevant times and offer relevant content. That’s where a CRM comes in handy.
71% of sales reps say they spend too much time on data entry. (Heinz Marketing)
Continue reading on Teamgate’s Blog to find the rest of the statistics to help your business!