73+ Sales Statistics To Achieve Business Targets in 2024

When it comes to training your employees, your efforts need to much beyond that "tell me how to sell this pen".

There is always something cooking in the sales domain for B2B businesses. Newer tactics, persona research and AI-driven sales methodologies have changed the face of once "pitch controlled" activity. Business owners are experimenting with evolved tech and embedding it into their sales workflows while remembering the traditional sales practices.

Sales has a rule: if you get the customer, any strategy is the right strategy. Acquiring your target buyer becomes easy if you know about these freshly brewed sales statistics in the market. Further, implementing these trade practices using a CRM software would bolster your pipeline, increase lead engagement and reduce lead leakage for your sales teams.

Sales statistics in 2024

To get your sales teams geared for 2024, keep up to pulse with the following sales statistics across several commercial and non commercial industries in 2024.

Email users send and receive over 376 billion emails everyday.
80% of new leads never translate into sales
Companies that excel at lead nurturing generate 50% more sales ready leads and 33% lower cost per lead.
82% if marketers are finding it challenging to generate responses from their lead nurturing programs without having first party intent data.
72% of B2B companies which sell using seven or more channels grow faster than their peers, as customers engage across up to 10 channels.
The global business to consumer (B2C) ecommerce market size was valued at $6.5 trillion in 2023.
The B2C ecommerce market will grow at a compound annual growth rate of 9.1% between 2022-2026
57% of consumers will exchange information for customized offers.
In addition to the above research, 50% of customers also anticipate BOPIS (buy online pickup in store) to traditional dropshipping.
Only 27% of marketing qualified leads sent directly to sales by 67% of the marketers would be actually qualified.
55% of sales leaders saw an increase in their lead conversions after using first party intent data.
48% of B2B leaders say that intent verification is a core part of their sales revenue strategy.

Customer relationship management (CRM) statistics

The usage of CRM software has grown manifold in the last couple of years. By providing cutting edge features for marketing, lead nurturing, lead scoring, sales histories and lead management, CRM eliminates tardy and manual outreach efforts with more streamlined and data-driven solutions.

The CRM platform distributes your leads across your BDR teams and sales reps and assigns a specific intent score or lead score, disposition and status (hot, warm and cold) to each prospect and updates lead status and progress in real time to help you track your conversion goals and buyer journeys.

CRM industry statistics

Given below are some industry-wide statistics showcasing the impact of CRM on buyer journeys and sales conversions.

The average CRM adoption among sales processes is 73% and the average ROI period is 13 months.
Even though most businesses use CRM, the adoption rate is low at 26%
CRM can boost conversion rates by 300%.
CRM market is anticipated to reach $96.39 billion by 2026 at a CAGR of 10.6% during the forecast period of 2021-2026.
North America has the highest market share in the CRM category, at around 37%, followed by APAC at 24% and Europe at 20% market share.
91% of companies with more than 11 sales member use a CRM tool to maintain their relationships.
CRM adoption stats have generally increased, with a percentage of companies which have an adoption of over 75%, rising from 61.6% to 67.8%.
CRM software can boost sales by 29%, productivity by 34% and improve accuracy by 42%
73% of customers now say CX is the number one thing they consider while deciding a purchase from a company.
59% of customers will walk away after several bad experiences and 17% will walk away after a single bad experience.

86%

of B2B consumers expect companies to be well informed about their personal information during service interactions.

Source: Gartner

CRM implementation statistics

Lets look at some real world statistics of brands who invested and implemented a CRM tool to automate their sales workflows.

Half of sellers use CRM tools, 45% use sales intelligence and 42% use sales planning tools.
91% of sellers at large companies use sales tech once a week.
In 2024, enterprises are developing data consolidation strategies to get a single view of the customer by analyzing data from CRM and ERP systems.
Organizations are pushing to break CRM suites into components, so that they pay pay for what they want.
The global AI in CRM market size was valued at $5.1 Billion in 2018 and is expected to reach 42.5 Billion by 202
AI could automate more than 50% of CRM capabilties.
CRM is expected to achieve over $80 Billion in revenue by 2025
65% of companies using CRM are meeting their monthly and annual sales quotas.
74% of businesses say that CRM has improved their access to consumer data and ROI from a CRM has exceeded 245% of total cost.
13% of people say that investing in CRM is a top priority of their business and 66% of businesses switch to new CRM as their existing platform lacks the features they need.

CRM usage statistics

Here are some recent CRM usage trends which give us an fair idea of the overall perspective of CRM consumers and market perception of CRM.

In 2023, the overall CRM usage has increased from 56% to 74%
82% of organizations use CRM systems for sales reporting and process automation.
For companies using a mobile CRM, 65% of companies are meeting their sales quotas.
Every dollar a company spent on CRM, it got back $5.60 in 2020 and now, it gets back $8.71 - 1.5 times more.
As more companies have migrated to cloud, they have taken advantage of cloud ROI multiplier effect.
Cloud CRM delivered 1.7 times more ROI than traditional CRM.
CRM has replaced nearly 80% of the prior work that was done by the IT departments of a business.

As evident from these stats, having a CRM in place can have a gargantuan impact on sales pipeline and business efficiency. It also gives real-time insights into consumer data for sales reps to know their customers like the back of their hand.

Sales prospecting statistics

The next step in the sales cycle journey is a process that takes considerable legwork. Prospecting is the act of reaching out to potential leads in an effort to create a conversation that leads to a sale, which can be a painstaking process for even the most experienced salespeople.

There are many nuances that can make or break a sale in the initial steps of selling. These statistics highlight the highs and lows of attaining a new customer.

More than 40 percent of salespeople say prospecting is the most challenging part of the sales process, followed by closing (36 percent) and qualifying (22 percent).
80% of sales are made by roughly 20% of your sales teams.
92% of salespeople give up after their fourth sales follow-up call, but 80% of the prospects say no four times before yes.
46% of people do not intend to go into sales.
An average salesperson generates one appointment or referral after 209 cold calls.
Optimistic sales pros outperform pessimists by 57%, even if they are more qualified.

69%

of buyers want their sales pros to "listen to their needs!"

Source: HubSpot

As of December 2023, the sales conversion rate on e-commerce sites was higher for tablet devices, at around 3.1, followed by 2.8 (desktop) and 2.5 (overall).
More than 40% of salespeople say that prospecting is the most challenging part of the sales process, followed by closing (36%) and qualifying (22%).
The average response rate of advanced personalized emails like those that have {first_name} or {company_name} is 17%.
On the flip side, the cold emails without advanced personalization have only 7% response rate.
The fewer prospects you have in email outreach, the highest replies you get. There is a 10% difference in reply rate between having 1-200 and 1000+ prospect base.
Sales reps in B2B tech make an average of 60 dials per day to improve the probability of bookignmmeetings.
As per Nov 2023, it takes around 8 cold call attempts to reach a prospect.
If a rep spends 4 hours averaging on a duration of 4 minutes and 50 seconds, they can make around 54 calls per day comfortably.

80%

of sales voicemails go unanswered, with an average response rate of 5%.

Source: G2

80% of companies have buying committees that influence buying decisions.
66% of respondents say salespeople at a software company are not generally involved in the research phase of the purchasing process.
On an average, 27 interactions are held with the sales team within a buying journey.
44 percent of salespeople give up after one "no."
Only 2% of sales occur after the first meeting.
88% of buyers say that it is important or very important that their software purchase has AI functionality.

The above mentioned data underscores the significance of analyzing buyer behaviour and sales propensity before initiating any sales effort to minimize risk of failure and. build a solid outreach foundation. Customers in this present age have become self-exploratory, and there is very little you need to do to increase sales conversions.

But little goes a long way. Building a sales nurturing funnel and catering to your client at every step of the process is crucial. This also sets a stage for future consumer loyalty. Being active with your outreach, empathetic and active for prospects through different communication channels paves a way for sales expertise.

Speaking of which, here are some social media sales statistics to build consumer loyalty in 2024

75%

of B2B buyers use social media to make buying decisions, out of which 50% use LinkedIn as a trusted source to make purchase decisions.

Source: LinkedIn Sales Solutions

Social media is a powerful tool for selling. Now that we’re towards the end of the sales life cycle journey, we can start heading away from the negative sales statistics and focus on the ever-growing, positive statistics behind social media selling techniques.

54% of B2B marketers generate leads from social media and 39% of B2B companies say that they can generate good revenue from social media.
75% of sales reps use Facebook to find leads, followed by Instagram, LinkedIn and YouTube.
33% of sales professionals say that social media offers the highest quality sales leads.
12% of top performing reps use social media and 18% consider it to be one of the top five focus areas for selling.
71% of customers that had a positive social experience with the brand will recommend it to their friends and family.
LinkedIn is one of the best social selling tools with 1 billion members across 200 countries and 16.2% of daily active users.

Social selling has been proven to increase sales and is a vast improvement over traditional cold calling. Catching the attention of potential leads using a mere 280 characters on Twitter, or through eye-catching imagery on LinkedIn, boasts great results.

Sales closing statistics

Closing a deal is as tricky as preparing your first sales pitch. It is important to keep your goal, address critical and sensitive sales objections and move the needle towards conversions. Do not overdo; lest your deal might slip through the cracks.

The goal is to inevitably close the sale, and it can take a long time and come with its own roadblocks. These statistics show the challenges associated with the lifecycle of the sales pipeline through the time of closing.

Best in class companies close 30% of sales qualified leads while average companies close around 20% of entire pipeline.
48% of sales calls end without an attempt to close the sale and national closing rate is 27%
Acquiring a new customer is anywhere from five to twenty seven times more expensive than retaining a new one.
Increasing customer retention rates by 5% increases profits by 25% to 95%.

The act of closing a deal is a tough one to master, but statistics show that collaboration results in higher performance. So don’t be afraid to reach out to your colleagues to help tackle a particularly difficult sale.

Sources:

Lead = Deal

Being a successful sales person requires more than on-the-job training, sales intelligence and experience. It takes commitment, strategy and the right tools. As buyers continue to adapt in the digital age, the act of selling will evolve alongside them.

Now that you are familiar with these sales statistics, implement them using a CRM software and optimize your way to sales conversions with the best-in-industry technological advancements and sales automation and enablement.

Implement the best data-driven practices in your sales reports to show your numbers more effectively and make the most out of your sales team resources.

Tricia Dempsey

Tricia is a former research analyst focusing on office and design software. Tricia started at G2 in October 2018 after spending nearly five years in the competitive intelligence industry, which led to extensive market research knowledge and experience. She is currently maintaining the integrity of her space by building out new categories and writing data-driven content. Her coverage areas include office and design. In her spare time, she enjoys reading, attending concerts, and gaming.