Sales Statistics that Can Save Your Business
Posted by Hube Hopkins on July 17th, 2014
Ten key sales statistics that relate to your basic sales processes
If you heed the message in these vital statistics, your business will grow faster, guaranteed.
- Speed to follow up on web leads is vital. Following up within 5 minutes will make you 9 times more likely to convert them. (InsideSales.com). We deal with sales leads from the web for a variety of clients. We used to tell people within one hour, but as attention spans get shorter and there are more options, 5 minutes sounds like a better plan.
- Inside Sales says that 50% of sales go to the first salesperson to contact the prospect. We have seen that over and over in our business. It shows interest in their problem and great customer service.
- Email people during the workday. GetResponse says that the best times to email prospects is between 8:00 AM and 3:00 PM. There are lots of theories out there about emailing people on Saturdays and such, but the normal workday for business is tried and true.
- Now, for “calling” a prospect those times are different. Top on the list is 4:00 to 5:00 for a cold call. Next best is between 8:00 and 10:00. If you want to waste your time, call at 11:00 or at 2:00. (InsideSales)
- As for days, Thursday is the best day to prospect. Tuesday is the worst. (Inside Sales). Wednesday is the OK day.
- The Top 5% of Salespeople for large business to business sales are on Linked in over 5 hours per week. LinkedIn is great for prospecting and networking too. And, there is no travel time across town to a meeting. (Asher Strategies)
- If you do a lot of cold calling, you have noticed a definite increase in the cold shoulder affect. In 2007 it took an average of 4 cold call tries to reach a new prospect. Today it takes over 8 attempts. (TeleNet) AND, the average sales person makes only 2 attempts. (Asher Strategies)
- Team selling is alive and well in today’s digital age. In an average firm with 300 employees, an average of 7 people are involved in most buying decisions. That’s a lot of people you have to touch and sell to. (Gartner Group)
- Nurtured leads make larger purchases than non-nurtured leads. The Annultas Groups says that it’s 47% higher. Nurturing gives you a chance to show the prospect all the things you do, it lets you understand more of their problems and enables you to offer a bigger solution.
- If selling more to your current customers and referrals is the easiest ways to grow your business, why don’t more salespeople ask for referrals? Dale Carnegie says that 91% of customers say they would be glad to give a referral yet only 11% of salespeople ask for them. This is most likely because they have low sales aptitude. If you want to “assess” your sales team for this, check out the solution at AsherStrategies, http://www.asherstrategies.com/aptitude-assessments/.