As the B2B sales landscape continues to evolve, companies are doing more and more research on trends to encourage and inform strategic planning for the future. In looking at some of the stats that have been touted this year, there are several implications for sales organizations in 2016.
Here are ten sales stats, accompanied by key takeaways, to keep in mind in the New Year:
#1. Leads responded to within 5 minutes are 100x more likely to be qualified; waiting just 10 minutes drops that likelihood of qualifying the lead 4x. Source: Openview Labs
Key Takeaway: Responsiveness is highly valuable; while 5 minutes isn’t necessarily the most realistic of windows for many reps, the fact remains that you don’t want to keep engaged buyers hanging. Consider leveraging a sales enablement technology that delivers reps data on who is engaged with the content they send out and when, enabling timely follow-up.
#2. Reps have 12% of their customer's total mindshare across the entire B2B purchase path. Source: CEB
Key Takeaway: 12% is not enough. There are lot of stakeholders fighting for your customers’ attention. Ensure that you are top-of-mind by making your sales content relevant, engaging, mobile-ready and easily accessible anytime, anywhere.
#3. A new decision-maker enters the mix in the last 5–10% of the buying experience. Often times, this person needs to be engaged, educated and sold from scratch. Source: TOPO
Key Takeaway: Ensure you have identified, researched, and prepared your reps to engage with all of your key personas. It’s important to know who they are and what they value, so you can tailor your communication strategy accordingly later in the sales process.
#4. 55% of top-performing companies are investing in sales enablement technology to drive sales productivity. Source: Forbes Insights
Key Takeaway: Sales enablement technology is a growing space. Ensure you are well positioned to capture and create value in that market next year!
#5. Over two-thirds of B2B buyers wait longer to initiate contact with vendors than they did two years ago, because they are doing more research themselves. Source: KoMarketing
Key Takeaway: Be prepared to have conversations about value and ROI, rather than product features and functions. Prospects are now better informed, and thus expect more from their conversations with salespeople.
#6. Your sales team has a 56% greater chance to attain quota if you engage buyers before they contact a seller. Source: Sales Benchmark Index
Key Takeaway: Ensure that marketing is creating the right content to engage the right buyers – in alignment with the conversations your reps are having – and serving it up in the spaces where your target customers spend their time. That way, reps are set up for success when the leads reach them.
#7. B2B buyers are 5X more likely to engage with sales reps when they are introduced by somebody they know. Source: LinkedIn
Key Takeaway: Social selling is big, and getting bigger. Use the tools and network at your disposal to facilitate your sales process.
#8. After purchasing a product or service for their company, 42% of buyers reviewed a company on a third-party website, 32% posted a review on Facebook or LinkedIn, and 19% posted comments on Twitter. Source: Avande
Key Takeaway: Monitor your digital footprint so you are constantly aware of what customers are saying about you—both good and bad—and be prepared to respond in a timely manner.
#9. Nearly 25% of sales teams do not use a CRM system, and 46% of salespeople store lead and customer data in physical files or Google docs. Source: HubSpot
Key Takeaway: CRM adoption is still a big issue, even for companies that have made significant investments in a platform. Consider investing in an integrated sales enablement solution to add even more to your already valuable CRM, making it a hub for all of your reps’ key activities and driving sales productivity in the process.
#10. 71% of C-level execs believe sales productivity is CRITICAL to achieving growth. Source: Forbes Insights
Key Takeaway: Sales productivity is a C-level issue. Get ahead of the curve by making a commitment to solving the problem, and ensuring that the right processes, content, and technologies are in place to do so.