On this week in sales we’ll be looking at:
- Why you’re more likely to have a CEO jump on your sales call because of the pandemic
- Why sellers don’t influence buyers as much as they think they do
- We’ll discuss a new study that shows that almost half of CRM data is complete rubbish
And much more!
This Week In Sales hosts:
- Victor Antonio – Youtube.com/user/salesinfluence
- Will Barron – Salesman.org/Youtube
Topics:
33 percent of sales leaders say they’ve “clawed” their sales results back to a significant recovery
The Brooks Group asked leaders how the lingering effects of 2020 were shaping their current and future sales planning activities –
- 33 percent have clawed their way to a significant recovery.
- But most sales leaders indicated that their sales formula will need to continue to be tweaked well into the new year in order to effectively profit as the pandemic drags on.
Sellers have little opportunity to influence customer decisions
- Gartner research finds that when B2B buyers are considering a purchase‚ they spend only 17% of that time meeting with potential suppliers.
- When buyers are comparing multiple suppliers‚ the amount of time spent with any one sales rep may be only 5% or 6%.
https://www.gartner.com/en/sales/insights/b2b-buying-journey
Product-based Sales Training Market to Grow by $ 4.21 billion by 2024
- Product based sales training a growing trend
- Growthing emphasis on “micro learning”
Study: Half of all businesses believe that the quality of their CRM data is somewhere between “very poor”and neutral
- Over a third of participants claim to have no CRM data management process/one that is “ineffective”
- 27 per cent also report that bad data costs them ten per cent or more in lost revenue annually. Almost half of participants actually believe their systems are so poor that they cannot even estimate bad data’s effect on revenue.
https://www.thedrum.com/news/2020/11/11/poor-quality-crm-data-costs-enterprises-revenue
Mailchimp sends billions of emails a month for millions of users.
Mailchimp scanned billions of emails delivered by their system (where campaign tracking was activated, and where users reported their industry) and calculated the average unique open rates, click rates, soft bounces, and hard bounces by industry.
https://mailchimp.com/resources/email-marketing-benchmarks/
Chorus.ai – Analyzes 35 Million Calls to analyze Better Operations
#1 C-Suite Participation in Sales Calls.
- C-Level executives have been joining sales calls at a rate of 108% higher than they were in January.
- But there is an 81% drop in C-Suite meeting attendance from the first to the second call. Sales teams must ensure meetings are airtight and up-leveled from the first interaction.
- 8% talk
#2 How Many Cold Calls Does it Take to Make a Sale?
- Cold Call Connect Rates have fluctuated throughout the year, with a 6% dip in average quarterly voicemail connect rates from Q2 to Q3.
- Phone connections cannot be the only method of interaction, with multi-channel processes and targeting well defined.
Sales Demo Best Practices.
- A great demo doesn’t just tell a story, it should show the real day-to-day impact of the product.
- Reps should be prepared for these discussions to happen quickly, as 78% of first calls will include some form of a demo.
https://www.martechcube.com/chorus-ai-analyzes-35-million-calls-to-analyze-better-operations/
Data Storytelling
Data storytelling is the fastest and easiest way to empower your team to both understand and act on data through the power of stories.
https://narrativescience.com/quill/tableau/interactive-demo/
Sales CRM Pipedrive takes majority investment from Vista Equity Partners to reach unicorn status
The company has taken a majority investment from private equity firm Vista Equity Partners. This means that Vista has effectively acquired Pipedrive, in the sense that the firm now has a majority stake.
https://techcrunch.com/2020/11/12/european-unicorns-are-no-longer-a-pipe-dream/
How Millennials are Changing B2B Buying Habits
Since nearly 75% of millennial buyers say they get information from a vendor’s website, it’s important to make sure that your website content is both current and comprehensive.
With more than 70% of B2B searches starting with a generic term, the first touch point millennial buyers have with most businesses is Google or another search engine.
https://www.elevationb2b.com/blog/how-millennials-are-changing-b2b-buying-habits
Daniel Disney featured in the Portsmouth news
Hambledon salesman Daniel Disney sells more than 4,000 copies of his book sharing secrets of LinkedIn
The Financial Upside of Being an Optimist
- After controlling for wealth, income, skills, and other demographics to level the playing field, the data clearly showed that optimists were significantly more likely to experience better financial health than pessimists, and engage in healthier habits with their money.
- For instance, we found that 90% of optimists have put money aside for a major purchase, compared to 70% of pessimists.
- Nearly two thirds of optimists have started an emergency fund, while less than half of pessimists have.
- Additionally, optimists are more likely to seek out and follow advice from someone they trust.
- In my opinion, the most compelling finding was how optimists felt, reporting that they stressed about finances 145 fewer days each year as compared to pessimists.
https://hbr.org/2019/03/the-financial-upside-of-being-an-optimist
