The best thing you can do in sales is to look back, reflect, and learn. What are your key takeaways from 2019?
We all have our own takeaways. But another great aspect to reflect on is common themes from the sales industry that reveal buyer behaviors and best practices. We can thank various studies for that inside look.
Let’s review some key sales statistics found through studies in 2019 and reflect on the takeaways and how you can use these findings to better your sales strategy in 2020.
1. Budget is the most common reason that stronger sales opportunities fall apart
Source: Marc Wayshak
Takeaway: A fundamental element of your sales process is building value from the get-go so this problem doesn’t arise. The key takeaway is to be stronger right off the bat by emphasizing the value of your solution upfront – the price is all about perceived value. Never let your prospect doubt that your solution isn’t worth the price.
2. Most emails are opened at the end of the workday, peaking at 3pm
Source: Mailchimp & Optinmonster
Takeaway: Mailchimp found that the majority of emails are opened between 2pm – 5pm which means sending your email in the morning can jeopardize your chances of reaching your recipient, getting lost in the clutter of their inbox. Optinmonster also found that open rates peaked at 3pm, suggesting that Tuesday after 1pm is your best bet.
3. The best day to call your prospects is Wednesday & the best time is between 4pm – 5pm
Takeaway: Data like this is super constructive because it gives you insight into common behaviors. Use this data and try it for yourself – see if you get an increase in responses and conversations. If the results are positive, leave this time frame for your top opportunities to catch your prospects at the optimal time.
4. Top sales reps listen more than talk in the discovery call
Takeaway: ALWAYS ask questions and get your prospects talking. Many data studies show the power of the talk-listen ratio: on average, top sales professionals speak 43% of the time and listen 57% of the time. Get your prospects talking by asking questions and making the conversation about them.
5. 35% of people decide whether or not to open an email based solely on the subject line
Takeaway: We all know how important subject lines are. The bottom line is – you need to make your subject line as enticing as possible or it will get lost in the clutter. In 2020, try new things and be unique. A great way to do this? By using features like Yesware’s Reporting to see what emails are getting opened which indicates what subject lines are resonating with your recipients. Based on this, reflect and improve.
The next sales statistic can help with perfecting your subject line:
6. The most successful emails have subject lines between 1-5 words
Takeaway: Keep your subject lines as short as possible. Yesware’s data found that the most successful emails based on open and reply rates had subject lines between 1-5 words. Clear and concise is key to generating the perfect subject line, don’t go overboard.
7. At least 50% of your prospects aren’t a good fit for what you’re selling
Source: Marc Wayshak
Takeaway: Qualifying is still so important to date. Once you realize a prospect isn’t a good fit – don’t push it and move on. Change the way you approach prospecting in 2020 by looking for key indicators right off the bat to avoid wasting your time on the wrong opportunities.
8. The top sales prospecting challenge of 2019 is setting up appointments
Source: Richardson Annual Selling Challenges Study
Takeaway: This helps put into perspective what other professional salespeople are struggling with. What can you do? Master the top struggle. Work on the top challenges and succeed at them to help you stand out from the crowd.
9. Mobile clients account for 41.9% of email opens
Takeaway: Always make sure your email can be viewed on a mobile device. Watch your subject line length, keep your email short and concise, be careful with images and GIFs, and test your email presence by sending it to your mobile device before multiple recipients.
10. Top performers ask for more referrals
Source: Marc Wayshak
Takeaway: One of the best techniques you can leverage as a salesperson is learning and replicating behaviors from the top reps. About 47% of top reps ask for referrals consistently vs. only 26% of non-top performers. They’re succeeding by asking for those introductions and referrals, so why not try it out?
Sell Smarter in 2020
Take in these sales statistics, share them with your team, and execute accordingly.
Buyer behaviors and common trends will keep changing. Thanks to various thorough and insightful studies, we can benefit from the most current data, allowing us to sell smarter in 2020.
Reblogged this on PaperChain Blog.