With more customers going digital, gone are the days of aggressive sales pitches and conventional selling strategies. The sales industry is now changing in the age of the customer. Having an in-depth understanding of your target market can help you reign supreme in the modern business landscape. That’s why companies must slowly embrace comprehensive sales strategies, including AI, sales software, and sales analytics, to stay on top of the competition.
Moreover, it’s best to stay updated on the latest sales statistics to know where the industry’s headed. So, if you’re looking for more efficient ways to sell or motivate your sales team to improve their goals and outcomes – use these robust sales statistics as your guiding posts!
1. Sales Technology Statistics
More and more companies are starting to realize how using sales software solutions and understanding sales data can improve their bottom lines.
The sales stats below are the cream of the crop—the best and most popular skimmed from our entire article.
- The global sales performance management software industry is expected to reach a market size of $1.6 billion by 2024. (Apps Run The World)
- Companies that use lead-scoring algorithms have experienced up to a 20% improvement in conversion rates. (McKinsey & Company)
- 47% of sales professionals claim that they use technology in sales at least once a day. (LinkedIn)
- More than 52% of respondents said they planned to use more sales technology in 2020. (LinkedIn)
- 74% of sales professionals who use an intelligence tool state that it plays a critical role in closing deals. (LinkedIn)
- Currently, only 37% of companies have enabled their sales teams to focus more on selling by reducing their administrative tasks with the help of technology. (LinkedIn)
- When it comes to purchasing business software, companies rely on word of mouth (55%), customer references (46%), media articles (38%), vendor-authored materials (38%), analyst reports (34%), crowdsourced review sites (27%), and sales personnel (22%). (HubSpot)
2. Sales Prospecting Statistics
There’s gold in them thar hills! Find out where before you dig. Nobody loves sales prospecting, but you can’t sell without it.
How many calls does it take to reach a buyer? How many new opportunities a month will keep you solvent? The prospecting sales statistics below can help you home in on the motherlode.
- 71% of consumers expect to hear from sales reps early in the buying process. (Rain Group)
- At least half of your initial prospects do not have any use for the products and services you are selling. (Sales Insights Lab)
- Majority of sales agents (66.7%) have only reached out to 250 or less prospects within a year. (Sales Insights Lab)
- 40% of sales agents say that getting a response from prospects is much harder now than 3 years ago. (Hubspot)
- The biggest issues with prospecting are setting up appointments (14%), consistent cadence of contact across channels (13%), reaching the right stakeholder (12%), creating targeted strategies (12%), and lead qualification (10%). (Richardson Sales Performance)
- You can increase the chances of sales success by 74% if you ask a minimum of 11 questions during the initial call. (Gong)
- Trustworthiness (47%) and responsiveness (44%) are the two most important characteristics buyers look for in a sales professional. (LinkedIn)
- You can make prospecting calls more successful by focusing on the value you can deliver them (96%), collaborating with them (93%), providing market insights to give them perspective (92%), and helping them understand their needs (92%). (Hubspot)
- 56% of respondents claim that they are using data to select targets or prospects. (LinkedIn)
- 49% of sales professionals use data to select the best industries to target. (LinkedIn)
3. Sales Strategies Statistics
Want to succeed in sales? Listen to customers, learn their needs, and find a way to fix their problems.
The sales strategies statistics below suggest genuine interest in your buyers’ challenges is a sure path to revenue growth.
- 77% of sales professionals conduct virtual meetings; 57% use their phone more; while 51% use emails to respond to customers. (LinkedIn)
- Over 50% of successful sales teams have a 12-month view of their plans while 10% map out the next three years. (McKinsey & Company)
- The businesses’ buying process will involve around 6-10 decision-makers. (Outreach)
- 47% of companies have generally aligned sales and marketing teams. (Hubspot)
- 46% of buyers agree that “active listening” is the number one skill they expect from sales professionals; meanwhile, managers rank “active listening” as the seventh skill they look for in an applicant. (LinkedIn)
Sales Data Usage
Leveraging analytics and actively accumulating records out of your prospects, you may offer them a higher income enjoy so as to stable greater conversions withinside the future.
- 84% of consumers cite good customer service as one of the key factors when buying from a brand. (Zendesk)
- Sales market research data reveals that 79% of consumers prefer interacting with salespeople who are trusted advisors that can add value to their business–not just sales representatives who are selling them products and services. (Salesforce)
- Companies with an effective VoC program can experience a 55% increase in customer retention. (Gainsight)
- 64% of shoppers are generally ok with vendors saving their purchase history and personal preferences for personalization purposes. (Customer Think)
- 62% of shoppers are more scared of their information being compromised now than they were two years ago. (Salesforce)
- 56% of consumers prefer to buy from companies that consistently release new products and services based on their needs and new technology. (Salesforce)
Cold Calling
Cold calling is hard. The sales statistics for cold calling below show it takes 209 cold calls to generate a single appointment. The majority of all cold calls don’t go through in the first place.
The takeaway from these cold-calling outbound sales statistics? The average sales rep using cold calling can make one appointment per day.
- 41.2% of sales reps say that their phone is the most effective tool for performing their jobs. (Sales Insights Lab)
- Only 28% of sales agents find cold calling effective. (Rain Group)
- Sales representatives spend 15% of the time leaving voicemails rather than talking with prospects. (RingLead)
- Cold calling statistics reveal that the best time to call prospects is on Wednesdays between 4:00 to 5:00 PM because this is when most people are at their most productive. Meanwhile, the worst time to contact prospects is on Fridays between 1:00 to 3:00 PM. (Gong)
- Sales representatives who call six times can increase their contact rate by 70%. (CallHippo)
- Only 28% of sales agents find cold calling effective. (Rain Group)
- Sales representatives spend 15% of the time leaving voicemails rather than talking with prospects. (RingLead)
- Cold calling statistics reveal that the best time to call prospects is on Wednesdays between 4:00 to 5:00 PM because this is when most people are at their most productive. Meanwhile, the worst time to contact prospects is on Fridays between 1:00 to 3:00 PM. (Gong)
- Sales representatives who call six times can increase their contact rate by 70%. (CallHippo)
- The number of email users around the world is projected to reach 4.48 billion by 2023. (Radicati Group)
- There were 293.6 billion emails sent and received in 2019 and is expected to increase to 347.3 billion by 2022. (Oberlo)
- Only 23.9% of the emails sent for sales purposes are opened by consumers. (TOPO)
- A majority of sales professionals (95%) believe that bulk emailing is ineffective. (RainGroup)
- Personalizing emails can increase open rates by 26%. (Campaign Monitor)
Social Selling
Headed for the social selling launchpad? You’re not alone. Social selling is fast becoming the most popular sales channel.
What is social selling? It’s when sales pros interact directly with prospects through social media.
- 78% of sellers who use social media outsell other sellers who do not. (LinkedIn Sales Solutions)
- Leaders of social selling have 51% more chance to hit their quota. (LinkedIn Sales Solutions)
- 31% of B2B sales professionals believe that they are able to nurture deeper relationships with clients through social selling. (Optinmonster)
- 84% of C-level executives turn to social media to make their purchases. (Optinmonster)
- Businesses have a 40% chance to hit their goals if they have consistent social selling processes. (Optinmonster)
Referrals
What’s more important in the sales world than referrals? They’re the most powerful form of advertising. Most buyers depend on them.
Did you know 84% of buyers start with a referral? And 92% of customers trust them? Find these and other referral sales statistics here.
- Word of mouth is so powerful that it accounts for $6 trillion in consumer spending annually. (Invesp)
- Referrals are the top source of quality leads (33%). It is followed by direct sourcing (16%), and marketing (7%). (HubSpot)
- Almost half of top sales reps (47%) ask for referrals consistently to find more leads. (Sales Insights Lab)
- 84% of B2B sales transactions begin with a referral. (Harvard Business Review)
- 83% of consumers would refer products and services after a satisfactory sales experience. However, only 29% do so because the salespeople don’t ask them to. (Texas Tech Today)
4. Sales Closing Statistics
But what’s a closer? By the sales statistics below, it’s an outside sales rep who closes 40%+ of the time, or an inside sales rep who does half that.
Want to see how you measure up? Take a stroll through the sales stats below.
- Companies that close 30% of sales-qualified leads are considered profitable. (Salesmate)
- The most challenging aspects of closing a deal include competing with low-cost providers (31%), positioning value propositions (17%), and combating the status quo to avoid “no-decision” (17%). (Richardson Sales Performance)
- Using the phrase “let me show you how” repeatedly during a call can decrease close rates by 13%. This is especially true for B2B sales. (Gong)
- Go easy on your company name. If you use it 4+ times in one sales call, you’ll hurt close rates 14%. (Gong)
- Using the term “free trial” can lower close rates by 5%. (Gong)
- 88% of buyers agreed that the sales representatives they purchased products or services from are trustworthy. (LinkedIn)
5. Sales Tools & CRM
Most sales reps and managers agree they spend too much time on housekeeping. CRMs slash admin time to a fraction of its former self.
- The global CRM software market is predicted to reach $35 billion by 2023 at a CAGR of 6%. (Market Research Future)
- The adoption of CRM technology in the sales industry has grown by 113%. (LinkedIn)
- CRM has an ROI of $8.71 for every dollar spent (Nucleus Research)
- A properly implemented CRM system can give you an ROI of 245%.
- 65% of sales professionals use CRM tools. (LinkedIn)
- Cloud-based CRM solutions now dominate 75% of the market. (CRM.ORG)
- Mobile CRM market is projected to grow by 13% annually from 2019 to 2029. (Future Market Insights)
- 44% of small businesses and 33% of medium-sized businesses use cloud-based CRM. (Accenture)
- 50% of sales teams that utilize CRM have improved their productivity.
- A 5% increase in customer retention can improve profits by up to 90%. (Bain & Company)
- For 80% of sales conversions, sales agents follow-up on prospects 5 times before closing the deal. (Marketing Donut)
- New customer acquisition can cost at least five times more than simply focusing on your existing customers. (Invesp)
Conclusion
In a lot of ways, B2B sales have changed dramatically in recent years.
Sales technology has become commonplace. Buyers have become more demanding, and expect bespoke sales messaging personalized to their needs.
But in other ways, it’s the same as it ever was. The best sales teams are still those that:
- Identify the right prospects;
- Build strong relationships with their leads; and
- Are on hand to offer advice and support when necessary.
If these help you, they’ll likely help someone else! Feel free to pass these along to a sales team member who may need a little pick-me-up, or mention us on Twitter or Instagram with your favorite sales statistic.