Markets are rarely the same year to year. Factors like technology and consumer tastes are in a constant state of change, so a sales strategy that doesn’t evolve is sure to fail. To maintain productive numbers, you need to stay up to date.
The most successful marketing campaigns are those that take advantage of current trends. However, to act on them, you first have to know about them. Sales statistics can offer crucial insights to help you understand your customer base and increase the efficacy of your techniques.
These 10 statistics will help you optimize your marketing strategy and close sales in 2020.
1. More Than 40% of Salespeople Say Prospecting Is the Hardest Part
Before you start taking steps to close on a lead, you have to find that lead in the first place. Prospecting is the first step in making sales, and a significant number of salespeople agree that it’s also the hardest part. This difficulty, or at least perceived difficulty, can hinder your sales staff from performing their best while prospecting.
To help make the process easier, it may help to provide prospecting guidelines to your staff. While everyone should have an individualized approach, providing examples of questions to consider or places to search could lead to more efficient prospecting.
2. Salespeople Spend Only 34% of Their Time Selling
Salesforce’s third annual State of Sales report revealed that salespeople only spend one-third of their time making sales on average. This statistic may be surprising, since a salesperson’s job is to sell, after all. However, two-thirds of their time often goes to other tasks, like generating quotes or data entry.
You need to address two processes in light of this statistic. First, you should find ways to optimize non-sales tasks, like streamlining the data entry process, so they don’t take up as much time. Second, you should increase sales productivity, so the time employees do spend selling is more profitable.
3. 80% of People Say No Four Times Before They Say Yes
Rejection can be discouraging for salespeople. It can be tempting to give up after a lead turns you down, especially if they do so multiple times, but studies suggest that tenacity pays off. The vast majority of prospects decline an offer four times before accepting it.
Implementing a “five tries” strategy may prove to be worthwhile. Urge your salespeople to keep circling back to prospects until they tell them no five times. You may be losing a considerable amount of potential sales by giving up too early.
4. The Average Businessperson Gets 115 Emails a Day
Not all ways of reaching out to leads are equally effective. On average, a businessperson will receive more than 100 emails a day, which means your message may end up lost in a pile of spam. The time spent crafting an enticing email offer goes to waste if no one ever opens it.
This statistic doesn’t necessarily mean you should stop sending emails, but that you shouldn’t focus on them. Emails have become such a popular form of communication that people’s inboxes are often saturated, making it hard for your message to stand out. You must diversify your marketing approach if you want to make an impression.
5. Videos on Landing Pages Can Increase Conversions by 86%
Modern consumers respond well to content that engages multiple senses. In today’s market, if you’re not incorporating video into your web presence, then you’re missing out on a significant increase in profit. You can increase conversions by as much as 86% just by using videos on your landing pages.
Taking the time to produce quality video content is well worth it. Short, informative and engaging videos can ensure your efforts in improving click-through rates don’t go to waste.
6. Google Accounts for 84% of Searches
Google is far from the only search engine, but is by far the most popular. In January of 2020, Google accounted for 84.26% of web searches across all devices. Incoming web traffic can come from any search engine, but most of it will be from Google.
Knowing what topics and keywords to target with your content can be the difference between a successful website and one that gets next to no organic traffic. Being strategic about your content can help you be found more easily on Google, which can help literally every other aspect of your business. – Kayla Matthews, owner of the Productivity Bytes blog
You need to adjust your SEO strategy according to Google’s policies and behaviors. It’s not worth your time to consider optimizing your strategy for other search engines. Google effectively runs the internet, so you need to focus on capitalizing on its success.
7. 69% of Americans Use Facebook
Google isn’t the only company that has found massive success on the web. According to Pew Research Center, more than two-thirds of American adults use Facebook. That’s a substantial market available for you to consider in your online marketing strategy.
Optimizing ads for Facebook will help you reach a considerable number of potential customers. Of the 69% of adults who use the site, 74% visit it daily, further increasing the likeliness of your ads making an impression. If you don’t want to fall behind in sales, you have to be putting effort into your Facebook ad campaigns.
8. Almost Half of All B2B Buyers Are Millennials
Millennials aren’t just a consumer market segment anymore. The generation is handling an increasing number of B2B business decisions for companies. Roughly 46% of B2B researchers are millennials.
This generation is one of digital natives. Millennials have grown up with the internet, so in your B2B marketing, consider their familiarity with modern technology, especially the web. Your B2B marketing should appeal to the tech-savvy since they’ll likely be the ones making decisions.
9. 77% of People Will Check Reviews Before Making a Purchase
In a growing world of e-commerce, reviews are imperative. An impressive 77% of online shoppers will read reviews for a product before deciding whether or not to buy it. If you don’t post reviews on your site, a significant portion of consumers may choose not to buy from you.
Posting reviews makes you appear more trustworthy to potential customers. A lack of them may suggest that your company is dishonest or that your products are of poor quality. You can also check reviews to gauge what consumers think of your goods or services, so you can determine if you need to make any adjustments.
10. 90% of Online Shoppers Price Check With Amazon
Amazon has become the key figure in online retail. Even if people find a product on another site, almost all of them will compare the price to Amazon’s offer. There are a couple of ways you can use this to your advantage.
First and foremost, you can sell your products on Amazon so consumers can find them there. Secondly, it may be helpful to check third-party sellers’ prices to see if you could consider dropping the price on your site. To entice customers to your home website, you can rely on offerings Amazon doesn’t have, such as exclusive sales or better customer service.
Acting on Sales Statistics
It’s not enough to stop at reading sales closing statistics. If you hope to stay relevant, you need to adjust your marketing campaign according to these figures. It’s also critical to note that these will change over time.
What’s true of a market one year may not be the next. Effective marketing evolves with culture, so be on the lookout for emerging trends, as well as what is on the way out.