Closing Sales Satistics

Find the goldilocks moment of when to close the sale


Closing Sales

Closing in the sales process:

  • 70% of companies say closing more deals is their top sales priority. (HubSpot, 2016)

  • 43% of salespeople struggle most with prospecting.  (HubSpot, 2016)

  • Prospecting is the most difficult part of the sales process for salespeople. (HubSpot, 2016)

  • 63% of prospects are "somewhat" or "not at all" knowledgeable about a company before a sales rep makes the first contact.  (HubSpot, 2016)

  • 58% of buyers want to talk about pricing in the first sales call, while 65% of salespeople want to keep the conversation on goals. (HubSpot, 2016)

Closing in the sales process:

  • 57% of salespeople believe buyers are less dependent on salespeople during the buying process. (HubSpot, 2016)

  • Only 29% of people want to talk to a salesperson to learn more about a product, while 62% will consult a search engine. (HubSpot, 2016)

  • 40% of salespeople say getting a response from prospects is getting harder.  (HubSpot, 2016)

  • 34% of salespeople say closing deals is getting harder. (HubSpot, 2016)

Time-based closing

  • Sales reps tend to lose more opportunities on Fridays than any other day. Tuesday is the day reps have the best rate of closing deals. Tuesday’s win rate is 14.72% higher than Friday’s. (Insidesales, 2017)

  • Sales reps are extremely ineffective at closing deals on weekends. Compared to weekends, weekday win rates are 72.79% higher. (Insidesales, 2017)

  • At the end of the month, reps appear to be pushing deals that are not ready. There is a 2.90x increase in number of deals closed at the end of the month but an 11.43x increase in number of deals lost. (Insidesales, 2017)

  • Reps are less effective at closing deals at the end of the month. Win rate decreases by 51.11% at the end of the month and deal size decreases by 34.50%. (Insidesales, 2017)

  • Inappropriate end of month sales behaviors cost companies millions. The decrease in deal size and win rate results in an estimated $98.02 million per year in lost revenue for the average company in our data set. This number represents a potential increase of 27.21% in revenue per company if properly addressed. (Insidesales, 2017)

  • The “end-of-month effect” is exaggerated at the end of the quarter. There is a 1.08x increase in number deals closed at the end of the quarter but a 1.77x increase in number of deals lost when compared with other ends of month that don’t fall at the end of a quarter. (Insidesales, 2017)

  • Reps close at a more effective rate until the last week of the quarter. Win rate decreases by 12.26% at the end of the quarter compared with other ends of month. Deal sizes grow steadily toward the end of the quarter and are at their highest in week 12 then drop 11.51% in the last week of the quarter. (Insidesales, 2017)

Time Management & Efficiency

Learn how to eliminate the downtime and maximise productivity in your sales team

  • DIALS AND CONVERSATIONS

    • The average SDR makes 46 calls per day in 2016

    • And has 5.8 quality conversations per day.

    • SDRs make 8.2 attempts per prospect, a 46% increase from 5.6 in 2012.

    • Companies that make 9 or more attempts per prospect see 16% higher performance, peaking at the 9-12 range. (Bridge Group, 2016)

  • Using sales software like insidesales to help standardise and automate sales processes can add 50-60% increase in outbound calls (Brian McCarthy, customer testimonial)

  • Good lead lists cost 5-10% of the labour costs of SDRs and can increase results by up to 1300%, yet some SDRs can waste up to 40% of their time looking for someone to call. (Insidesales)

  • Using dialling software can 3X to 4X the contact rates of new leads by reducing time between calls. (Insidesales)

  • Often, less than 50% of leads get contacted and many reps quit after 4-5 attempts. (Insidesales)

  • The average sales rep can spend 7.5 minutes making notes after each call, time that can be reduced by adding information and attachments to the database during the call. (Insidesales)

  • Dialling technologies to deal with dial time, no answers, bad numbers can take a lead generation specialist from 50 dials per day to over 170. A sales generalist can expect to go from 30 to over 70. (Insidesales)

  • Up to 60% of calls can go to voicemail and callback ratios from voicemails range from 1 to 22%. Using software to leave pre-recorded messages can result in callback rates of 4.8%. (Insidesales)

  • The impact of one-off seminar-style training sessions tend to drop off after 6-8 weeks, whereas sales coaching and mentoring have longer term effects. (Insidesales)

  • Having a clearly defined sales process with multiple steps can increase net sales productivity by 17%. (Insidesales)

  • The average sales rep spent up to 4 hours per day sending email, following up on calls, sending faxes, and other admin which can be reduced using templates and automation. In one case, the time to create a proposal was reduced from 45 to 2 minutes by implementing a template. (Insidesales)

  • B2B contact ratios (calls:conversation) hover around 10%. Sales reps attempting to call 4-6 times have a success rate of 55%. (Insidesales)

  • The chances of making a successful contact with a lead are 100 times greater when a contact attempt occurs within 5 minutes versus responding 30 minutes after the lead was submitted. Similarly, the odds of the lead entering the sales process, or becoming qualified, are 21 times greater when contacted within 5 minutes versus 30 minutes. (Insidesales)

  • Marginal call efficiency (calls converted per calls made) decreases after 35 calls per day but SDRs should still make those calls, focusing on the most qualified leads. (Birst, 2017)

Dialing software can increase lead contact rate by up to 4 times

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