Consumer trends are changing, and if you want to stay competitive, data-driven sales statistics are key. But be ready; some of these sales facts may surprise you.
10 Sales Stats & Facts Every Rep Should Know
1. 75% of Companies #1 Priority is Closing More Deals
Closing big deals can be challenging, but research indicates collaboration boosts performance.
Sales closing statistics show that 91% of the top-performing businesses encourage collaboration across their departments.
2. 44% of Sales Reps Give up After Only 1 Follow-up
The first follow-up call can be discouraging, and 92% of sales reps stop attempting to persuade the prospect.
Sales follow-up statistics indicate it takes five or more calls to close a deal. Follow-up stats also show only eight out of ten reps will eventually close the deal.
Learn how to follow up a sales call.
3. Nearly 80% of Consumers Think Sales Reps Should Be Knowledgeable Experts
Consumers are looking for an expert who can answer their questions. Unfortunately, sales pitches rarely close the deal. Sales professionals need to be able to help the prospect find the right solution.
Sales reps can become knowledgeable experts with professional sales training and continual education on your company’s products or services.
4. 50% of Prospects Aren’t a Suitable Fit for your Product
Volume prospecting generates a lot of leads, but not all will be a good fit for your business. As a result, you’re wasting resources and possibly ignoring solid sales leads.
A better option is creating a sales funnel based on quality prospecting. These are the leads with a higher chance of paying off.
5. Over 80% of Top Performing Sales Reps Spend 4+ Hours per Day on Sales-related Activities
Sales stats show that top-performing sales representatives spend four hours or more on sales-related projects.
Professionals who spend time mining for leads, throwing sales pitches, and conducting multiple follow-up calls are the ones most likely to close the deal.
Companies using activity quotas are seeing an increase in productivity.
6. Less than 25% of Salespeople Exceed Their Yearly Quota
The majority of salespeople are not exceeding their yearly quota. However, the company’s expectations may be too high. Sales reps also may not have the right resources.
Sales reps need realistic quotas distributed evenly across the team. They also need training and educational programs to ensure they can close the deal.
7. The Majority of Sales Reps Don’t Ask for Referrals
Sales referral statistics show that 57.9% of reps ask for one referral a month. Less than 20% ask every customer for a referral. Gathering referrals among top-performers is also low. Only half ask for a referral once a week.
Referrals are the best way of generating new leads. A sales pitch isn’t necessary to get the prospect’s attention.
Learn more mistakes that sales reps make.
8. Only 2% of Cold Calls Result in a Meeting
Sales call statistics are dismal for cold calls. Only one out of 209 phone calls typically results in a meeting. On average, it takes a salesperson six and a half hours of phone calls to schedule one potential customer meeting.
9. More than Half of Salespeople Lack Basic Sales Skills
Adequate training is crucial for sales reps, but 55% lack basic skills. Untrained salespeople can hurt a company’s bottom line. Buyers expect their sales reps to understand their needs and find the right solution.
10. Investing in Sales Training and Development has a 353% ROI
Companies worry about the cost of sales training. Adequate training involves more than a brief educational course. Sales reps often forget details, and company products or services can change. Sales rep training is a continual process throughout their career with the company.
Sales training statistics show when companies invest $1 in training, they earn $4.53 for an ROI of 353%.
Sell Smarter with the SELLect Sales Development & Training Program
It’s time to give your sales reps the tools they need to succeed. The SELLect Sales System has the solutions you need to close profitable deals consistently.
Contact us today to learn more about our sales training and development programs!
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