According to Hubspot, 44% of salespeople give up after one follow-up, but 80% of sales require five. Green salespeople, unaware of what separates them from the veteran sales team can be detrimental for a startup’s bottom line over the long haul. Selling is a company’s lifeblood, and some novice sellers are never learning what’s required of them other than rudimentary outreach to prospects.In order to help combat these situations, I’ve compiled the most important concepts of a great sales department and bolstered them with statistics from Hubspot that all startup founders and sales teams should heed:
Have Patience and Follow Up63% of people requesting information on your company today will not purchase for at least three months – and 20% will take more than 12 months to buy. – Marketing DonutThe optimal voicemail message is between 8 and 14 seconds. – Sales Hunter
Qualify Your Leads to Save Time and MoneyOnly 25% of leads are legitimate and should advance to sales. – Gleanster ResearchAt any given time, only 3% of your market is actively buying. 56% are not ready, 40% are poised to begin. – Vorsight50% of sales time is wasted on unproductive prospecting. – B2B LeadIn a typical firm with 100-500 employees, an average of 7 people are involved in most buying decisions. – Gartner Group
Work in Tandem with the Marketing DepartmentLead nurturing emails get 4-10 times the response rate compared to standalone email blasts. – SilverPop/DemandGen Report68% of consumers feel more positive about a brand after consuming content from it. – iMedia82% of buyers viewed at least 5 pieces of content from the winning vendor. – Forrester38% of CMOs said that aligning and integrating sales and marketing was a top priority in 2014. – CMO CouncilOrganizations with tightly aligned sales and marketing functions enjoyed 36% higher customer retention rates. – MarketingProfs
Research Your Customers’ Buying Behavior70% of people make purchasing decisions to solve problems. 30% make decisions to gain something. – Impact Communications95% of buyers chose a solution provider that “Provided them with ample content to help navigate through each stage of the buying process” – DemandGen ReportResearch shows that 35-50% of sales go to the vendor that responds first. – InsideSales.com
Evolve Your Outreach StrategiesOnly 2% of cold calls result in an appointment. – Leap JobIn 2007 it took an average of 3.68 cold call attempts to reach a prospect. Today it takes 8 attempts. – TeleNet and Ovation Sales GroupEmail marketing has 2X higher ROI than cold calling, networking or trade shows. – MarketingSherpa80% of calls go to voicemail, and 90% of first time voicemails are never returned. – RingLead
Maintain Current Customers And Ask for ReferralsIncreasing customer retention rates by 5% increases profits by 25-95% – Bain and Company91% of customers say they’d give referrals. Only 11% of salespeople ask for referrals. – Dale CarnegieCustomers are 4x more likely to buy when referred by a friend. – NeilsenRemember that it’s not just about statistics, it’s about what you learn from them. Numbers will change with time. Build a strategy that’s right for your business by using these numbers as a jumping off point to get your bearings and see where your sales team can improve by adopting different tactics.