With the immense amount of data available at our fingertips today, our firms have access to more information than ever before to help make informed decisions regarding marketing and business development strategies.
I recently read this article on “27 Amazing Sales Statistics for 2019” and noted a few specific pieces of data that are highly relevant within the professional services industry and the doer-seller model.
These are not the only three statistics that matter, but these are a few that resonated with us:
1. Research shows that 35% to 50% of sales go to the vendor that responds first. (Source – InsideSales.com)
Why this matters: In the world of sales, speed matters! I can personally attest to the fact that our firm has won opportunities simply because we were the first ones to deliver information requested by the prospect.
As you know, we live in an age of near-instant gratification. Prospects and clients expect responsiveness. It is critical for firms to have not only a culture that values responsiveness, but also the processes and tools in place to enable doer-sellers to access information and respond to prospects in a timely AND quality manner.
If you’re not able to respond quickly to prospect questions and requests, one of your competitors will.
(Check out our related post on “The Cost of Wasted Time in the Business Development Process.”)
2. 40% of emails are opened on mobile first, and the average mobile screen can only fit four to seven words max in the subject line. (Source – ContactMonkey)
Why this matters: We already know the importance of quality content in our marketing strategy, but a beautifully branded email, well-written article, and carefully crafted call-to-action are not enough.
You need a compelling subject line to get your audience to even open the email. AND because 40% of your audience is likely viewing their inbox on their mobile device, it needs to be short.
(For C-level executives—also known as, your decision-makers—the percentage of mobile views may be even higher, as many high level executives are constantly on-the-go.)
If you are treating subject lines as an after-thought, it may be time to reconsider your content marketing strategy.
3. High-performing sales organizations are twice as likely to provide ongoing training as low-performing ones. (Source – HubSpot)
Why this matters: Business development skills can be learned, but your practice professionals need training and support in order to develop these skills.
“I went to school to be a CPA, not a salesperson.” It is unrealistic to expect someone to fulfill business development expectations if they have never been taught how. Proper training is critical to evolving your team to develop business.
With the right training, everyone has the potential to contribute to business development and growth efforts.
Look for our upcoming content on developing a business development training curriculum!