Looking for the latest sales statistics? How has the latest sales strategy you trusted working out for the business? Are there any process lacunas that restrict the performance of your sales endeavors?
If these are somewhat similar to the questions bugging your mind, you are at the right place. Through this article, we present 50+ sales funnel statistics that not only amaze you as a fact to know but also give insights as to what and how to develop strong sales conversion rate statistics.
1. Inbound Sales Statistics
- In the United States, Women are leading in inbound sales with 51.0% compared to men which are 44.9%. Over time there is an increase in the percentage in 2010 50.50% of females were there and 49.50% were men and in 2019 53.20% were women and 46.80% were men. Source: Zippia
- If we check the inbound sales closing statistics by Race, the most common are white people with 59.8%, and American Indian and Alaska native stands the lowest with 0.6%. Source: Zippia
Source: Sales Statistics Infographics by Tabsite
- Inbound social selling helps to sell teams to reach their quotas.64% of selling teams were successful and 49% who didn’t inbound social selling did not meet their quotas. Source: Abedeen
- 75% of marketers believe that inbound marketing is really effective while 25% do not believe so.74% of organizations worldwide rely on an inbound approach to marketing. Nearly 74% of organizations all over the world rely on an inbound approach toward sales. Source: Financesonline
Takeaway: Inbound sales has emerged as the modern-day sales approach, across businesses and industries. Focussing on creating a pull with potential customers, Inbound sales helps the brands to break a leg in driving business growth. Brands need to research and switch tactics to attract, nurture and convert leads.
2. Outbound Sales Statistics
- 62% of marketers believe that outbound sales are more effective, on the other hand, 38% do not believe so. Source: Financesonline
- As observed, 9% of outbound calls result in conversations and 23% of conversations result in appointments. Source: Openview
- 35% of sales organizations have separate teams for inbound and outbound. Source: Saleshive
- The most common industries that are likely to hire outbound sales representatives are technology, finance and professional with 15%,11%,10% respectively. Source: Zippia
- The outbound sales reps unemployment rate was 6.75% in 2010 and it came down to 2.12% in 2019. Source: Zippia
- 47% of outbound sales reps enjoy staying at their job for less than a year. Source: Zippia
Takeaway: With the rise in inbound sales popularity, outbound sales still continue to deliver growth to businesses across scales and industries. Outbound sales give businesses the liberty to control the employee and sales targets. Having the relevant data at its disposal, the sales process can be made much more productive.
3. Sales Challenges Statistics
- Peers who do not use social media 78% of social sellers outsell them and 18.9% of SMBs thought that social media marketing is the best driver of sales in 2021 although email was the only medium that scored higher. Source: Linkedin
- More than 950 respondents globally, reveal significant changes in buying behavior. According to Forrester’s 2021 B2B buying study. Source: forrester
- 66% of the B2B buyer’s journey goes into finding processing information without any help from the sales rep.77% of buyers agree that purchases have become more complex and difficult. Source: Emptemp
- 21% of salespeople spend most of their time writing emails,17% doing research,12% in scheduling client calls, and 12% attending meetings that leave 34% of the time for actual selling. Source: Outreach
- Only 20% of salespeople love their jobs.17.6% rate their job satisfaction as outstanding and 41.7% rate their jobs as Just good. Source: Outreach
- The average cost per meeting for an SDR (Sales Development Representatives) team is $897. Source: Saleshive
Takeaway: When faced with a challenge, lookout for a way, not a way out – David weatherford
Keeping your potential buyers updated about your product and how you are far better than the competitor, will bring clarity and loyalty towards the brand. Increasing productivity within the team by managing the sales techniques, use of sales reports, understanding the operational challenges faced by the team, and arranging calls according to customers’ comfort time will bring out the best of the business value chain.
4. B2B Sales Statistics
- The worst time to dial B2B leads is on Monday from 6 A.M. till noon and on Friday afternoons. Source: MIT
- The best day to dial B2B leads are Wednesday and Thursday and the best time is 8-9 A.M. and 4-6 P.M. Source: MIT
- A simple-to-use website is one of the most valuable selling features as per 71% of B2B businesses. Source: Bigcommerce
- As per B2B sales statistics, the United States B2B eCommerce will reach $1.8 trillion and account for 17% of overall B2B sales in the U.S. by 2023. Source: Forrester
- Outsourced sales development services are used by 49% of B2B companies and 59% have never even used them. Source: Saleshive
Takeaway: B2B becomes more competitive as it is a relationship or marketplace between two business entities. Buyers will always compare and have options to switch within no time by competitors. As such, a B2B sales rep has to be well trained, experienced, and well aware of the sales funnel.
5. Sales Prospecting Statistics
- When surveyed, 75% of executives agreed to make an appointment or attend an event based on a cold call or email alone.77% of B2B purchasers would rather do their own research first than speak to a salesperson. Source: Sender.net
- The open rate of sales emails is 24%. Lead enrichment tools are a key component, nine in ten companies use two or more of these tools to learn about prospects. Source: Gartner
- On average it takes 18 calls to connect with a prospect and only 24% of sales emails are opened. Source: Gartner
- On average, it takes 8 cold call attempts to reach a prospect. The best time for cold calling is 4:00 – 5:00 P.M. Source: Saleshive
Takeaways: In the torrent of sales leads, shortlisting the relevant ones becomes critical. Getting in touch with potential customers at the right place and at the right time is essential. What time suits them? What mode of communication do they prefer? What is their outlook for the product or service? etc. are some of the questions that result in better profiling of the leads.
6. Sales Follow-up Statistics
- On average sales development rep only makes 4 calls when 12 are needed and amazingly only 10% of sales managers keep up track of lead follow-up rate. Source: power prospecting
- 48% of salespeople don’t even make a single follow-up attempt. 60% of customers will initially say no at least four times before saying yes. Source: Invespcro
- As per the sales statistics report, generally, 80% of sales require five follow-up calls, but 44% of salespeople give up after attempting the first call. Source: Invespcro
- Vendors who respond first, around 35-50% of sales go to them. Contacting a prospect within an hour after receiving a query increases the changes by 60 times than those who respond after 24 hours or later. Source: Invespcro
- 70% of salespeople stop sending emails after sending one, However, if you are consistent with the follow-ups the changes get 25% higher. Source: Invespcro
Takeaway: follow-ups are tricky. Sales follow-up statistics show that if you go too hard, you risk losing the lead altogether. You give up after a few follow-ups, you end up not showing up in the meeting on your result day. You just have to be receptive, persistent, and flexible in your approach towards the client’s comfort and needs.
7. Remote Sales Statistics
- During covid-19 in the United States, almost 70% of full-time workers were doing work from home. On average people were saving $479.20 per month. Source: Owl Labs
- 22% of high-performing sales rep. spend more time with customers and most Customers prefer to spend time remotely. 90% of small deals($100,000) can be completed without meetings and 12% of large deals can be closed with less than ten emails. Source: Mckinsey
- In the United States, more deals are closed remotely as compared to Europe. Nearly 80% of B2B customers prefer to interact remotely since covid-19.
- The company productivity has been the same (67%) or higher (27%) since pandemic employees started working from home,97% of surveyed employers reported. Source: CNN
- Remote workers make 8.3% more than non-remote workers with the same job and qualifications and 7.5% more in general-not considering experience, job title, or location when payscale analyzed thousands of salaries. Source: Payscale
- The Upwork report says that 41.8% of the American workforce continues to work remotely. By 2025, 36.2million Americans(22% of the workforce) will be working remotely. Source: Businesswire
- As per sales and marketing alignment statistics, 63% of sales development reps are allowed to work remotely. 44% of SDR teams do outreach globally. Source: Saleshive
Takeaway: With the pandemic at play, the percentage of clients and employees connecting remotely is increasing. This, in many ways, is beneficial for the company as well. If productivity is not affected and business grows, companies should actually keep an open mind about adopting changes and see the benefits in remote operations.
Ever thought that a seemingly irrelevant flaw in the sales funnel could be vital for your business by consistently pushing away the customer to a competitor?
With remote transactions becoming the new normal due to the pandemic, it becomes all the more important for businesses to map and rehearse their sales funnels, over and over. Practiced clarity of the process and policies helps sales reps deliver better results with minimum redundancies.