Research Study: Fourth Annual Sales Effectiveness Report Now Available
Following up with leads is key for sales effectiveness. However, what’s common knowledge and what is common practice are often very different things. In our Fourth Annual Sales Effectiveness Report, we break down what goes into a successful lead follow-up strategy and the results that companies are seeing from the tactics that make up this strategy.
Why should companies pay attention to their follow-up strategy?
The issue with under-touching leads isn’t just a matter of missing potential opportunities. When companies aren’t maximizing the potential of each lead, they’re also laying waste to the marketing investments made in generating those leads.
So, what does the current state of sales look like? What are businesses doing to leverage their leads and how does that impact sales? These are the questions we set out to answer in our Fourth Annual Sales Effectiveness Report.
Over 1,000+ participants engaged by this research study
This year, our researchers took the scope of this study to a new level by reaching out to over 1,200 companies around the world. Then, we took a close look at how companies engage their leads and compared these results with those from the last three reports. This enabled us to analyze real-world execution alongside best practice research to identify patterns of successful lead engagement.
What can businesses do to improve inbound lead follow-up?
The four P’s play a huge role in how companies should follow-up and the effectiveness of their strategy. In this report, we dig back into this concept covered in earlier reports and break down how participants reached successful or not so successful outcomes through their lead follow-up when it comes to these four P’s:
How quickly does a company follow up with a lead using a personalized response? Are they reaching their leads while they’re still hot?
To what extent is the response personalized? Does the response speak to the lead and provide an opportunity to keep the dialogue going?
How many attempts did the company make to follow up with the lead? Are they making enough touches?
How effective is the company in reaching leads? For example, what was the email deliverability (likelihood of the email landing in the lead’s inbox and not the spam folder)?
Key learnings from our research
We assessed each surveyed company on these above four P’s. Here are some of the key takeaways from this research report:
- Companies continue to give up too soon, failing to be persistent. 48% of the companies engaged with their inbound leads by making only one or two contact attempts.
- Although the number of companies earning an A in persistence took a dip in 2017, companies improved significantly in 2018. The percentage of companies receiving an A in persistence jumped from 10% to 24%.
- We did see an increase in the number of companies who received a letter grade A in promptness. This demonstrates that companies have taken action to engage with their leads soon after they receive inquiries.
Interestingly, some companies that performed well in previous years performed more poorly this year, and vice versa. This suggests that no company can be great at the four P’s all of the time. So, companies must instead invest in strategies that set themselves up for consistent and effective lead follow-up.
Report includes recommendations for business specific targets
In addition to data, in our Fourth Annual Sales Effectiveness Report, we provide actionable recommendations for each metric in the report. Our goal is to help businesses target specific areas that need improvement.
You can take a look at all the findings in the complete Fourth Annual Sales Effectiveness Report. Download your own copy now and find out which factors predict high or low performance. You’ll also learn what steps to take to bring your company’s performance in line with best practices.