Sales reps can increase conversion rates by 70% simply by making a few more call attempts.?
(...unfortunately, the majority of them give up right after one follow-up.)
Here are some more stats your sales team should ideally know:
- Discuss pricing right in the first call. It increases the win rates by 10%.
- Don't ask "is it a bad time" on cold calls. It reduces the chances of booking a meeting by 40%. Instead, open the call with "how have you been", which has a higher success rate.
- Between 4 pm and 5 pm of the last working day is a good time to connect with prospects. (You can schedule calls with high-value accounts.)
- An average sales rep makes 52 calls a day. You can increase this volume (without burdening the reps) by using Sales Dialer. This subsequently can increase your conversion rate.
- Referred customers are 24% more profitable. They are also more loyal. So, integrate a robust referral strategy into your cold call campaign.
- 80% of calls end up going to voicemail. Having the Voicemail Drop feature in your business phone system can help your sales team save hundreds of hours.
- Wednesday is the best day to make sales calls. In fact, the conversions are 46% more on Wed in comparison to Mondays.
- Positive online reviews can influence buying decisions for 90% of buyers. So, make sure you're thoroughly managing your online reputation.
- 42% of sales reps say they don't have enough info or context before making a call. This inevitably reduces the conversion rate. (Make sure your phone system is integrated with your CRM and has features like Call Disposition. This can help reps get more context in follow-ups.)
There are many more such stats. They are universal and should be adapted accordingly by every sales team. However, it’s important to recognize the nuances.?
Your business needs are distinct; you’re targeting different sets of audiences and are selling unique products. So, what’s working for the rest may not necessarily work for you.?
This is why it’s important to create your own playbook that’s built based on data unique to you.
There are many sales tools that can curate hard data. Solutions like conversation intelligence can help you collect qualitative data, which is critical.
Once you have the data (aka stats) from your cold calling campaigns, use those numbers to build a winning playbook for your sales team.?
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