The sales statistics are constantly changing, allowing us to keep track of the B2B market size and its trends. So if you want to keep up with the times, you must be open to adjusting. That’s why today, we’ve prepared some exciting statistics to help you in your sales journey.
So, let’s get your mind blown by the impressive B2B sales statistics.
Cold Calling Stats
They say cold calling is a dying art. However, many sales reps continue to swear by it, claiming it is still one of the most effective content methods. And as the cold calling statistics show, businesses that continued to use this method grew faster than those that didn’t.
This is because many customer interactions still take place over the phone, and many clients are still open to cold calls.
- More than half of decision-makers prefer to be contacted by phone.
- In case your team never makes follow-up calls, reconsider your strategy: 80% of sales need five follow-up calls in order to turn a prospect into a lead.
- Cold calls are more effective at certain times of the day. The best time to qualify leads via cold calls is between 4 and 5 p.m. or 11 a.m. and 12 p.m.
Social Selling Stats
Instead of cold-calling, advertisements, or promotional emails, social selling uses social media to find prospects, raise brand awareness, and develop relationships with potential customers.
However, the most successful social media businesses don’t always go straight for the sale. Instead, they begin by nurturing prospects and cultivating relationships.
- According to 31% of B2B professionals, social selling has enabled them to develop deeper relationships with customers.
- Companies that use social selling can increase their win rates by 5% while increasing their deal size by 35%.
Lead generation is one of the most important phases in the sales cycle, that’s why companies are constantly searching for new strategies to improve it. In addition, sales representatives have now a plethora of channels, though which they find and reach out to prospects.
- Prospecting is the most challenging part of the sales process for more than 40% of salespeople, followed by closing (36%) and qualifying (22%).
- According to sales statistics, 80% of prospects would choose communicating with a sales representative via email.
Lead Qualification Stats
Generating leads is a tough job. And generating high-quality leads is even more difficult.
In fact, according to inside sales statistics, generating high-quality leads was one of the most difficult challenges for 37% of marketers.
The following sales operations statistics will assist you in identifying new lead generation opportunities based on what other marketers are currently doing.
- Over 50% of your clients aren't a good fit for what you're selling.
- More than 30% of salespeople say the budget is the most common reason deals don't come through, followed by timing (25.5%), decision-making (18%), value (12%), and connection (12%). (12 percent).
Sales Call Stats
Cold calling affects the sales industry, but there's more to sales calls than cold calling. Despite the popularity of Zoom, phone calls remain the primary mode of communication between prospects and representatives.
Here are some sales call statistics to help inspire your 2022 sales strategies:
- Don't give up when your client says no at first. The B2B journey statistics say 60% of customers
will say no four times before agreeing to a deal, but only 12% of sales reps are willing to try to continue trying after the fourth no.
- Remember that "sorry, I’m busy right now" doesn't always mean a refusal. 42% of people would be willing to purchase if sales representatives called back at a predetermined time and date.
Sales Stats for Onboarding
With more sales representatives willing to work in offices since the pandemic, sales leaders must keep their sales onboarding strategies up to date. New employees can cost businesses a lot of money if they aren't properly trained.
But let's look at some sales statistics for hiring and training.
- Companies spend approximately $10,000-$15,000 on hiring a single sales representative.
- According to the State of Sales Training report, companies spend $2,020 per sales representative on training.
Sales Productivity Stats
While some sales representatives are still adjusting to remote work, some begin to return to the office. With these location changes in mind, it can be difficult to determine average workplace productivity.
So, let's look at some sales productivity statistics so you can focus on key performance indicators for your team.
- According to 71% of C-level executives, increasing sales productivity is essential for growth.
- 42.5% of sales representatives require 10 months or more to become productive enough to contribute to company goals.
Sales Automation Stats
Machine learning (ML) and artificial intelligence (AI) are two critical technological advancements that have grown tremendously in 2022. Both ML and AI enable businesses to gather information about their buyers in order to develop better sales campaigns in the future. Therefore, companies use ML and AI together with their automation software to maximize the effectiveness of their campaigns and achieve tremendous success.
- Business owners saw an increase in conversions up to 14.5% after implementing sales automation software. In addition, CRM automation can lead to an increase in deal closures by 30%, a reduction in sales cycle by 18% and sales administration by 14%.
- Businesses are expected to spend nearly $1.3 trillion per year on customer service. According to Chatbots Life, businesses that have started to use conversational AI claim they managed to save up to 30% of customer support costs.
Hottest Sales Trends in 2022
There are lots of factors that impact B2B sales. And it’s always a good idea to be on the same wavelength with fast-paced business environment and be aware of the hottest trends. So without further ado, let’s check them out.
Over the last decade, selling has evolved drastically. Today, more than 81% of consumers conduct online research before making a purchase, making social selling a major part of the sales process.
Social media helps businesses connect with customers who fit your buyer personas and can potentially benefit from your product or service. In addition, social selling increases brand visibility by engaging with people, keeping your brand at the forefront of their minds. This results in higher-quality leads and higher-quality leads result in higher sales numbers.
Individualized customer service
Customer loyalty can be increased by providing a better, more personalized customer experience. Understanding buyer behavior and using a unique B2B sales framework, such as providing recommendations for common customers’ problems, encourages customers to stay on your website longer and see your product or service as a solution.
Encourage users to sign up for something on your website, such as a newsletter or blog, to offer a simple yet effective way for your sales teams to provide users a personalized experience. Collecting basic consumer information will enable sales teams to better understand their prospects and tailor the experience accordingly.
Almost 90% of sales professionals believe it is critical to have access to video viewing data in order to engage prospects, qualify leads, and influence deals. And it doesn’t come as a surprise that video content has grown in popularity as a selling technique in recent years, and it's still the top trend for B2B sales this year. Video is a fortunate combination of visualization, information, and audience communication.
Keep Up with the Times
The world has taught us one fundamental lesson: we must be flexible to adapt our business processes to changing conditions. But there is another lesson to be learned. We should all be open to new ideas and trends!
So improve your sales journey and keep your sales trendy!