It can be tough out there for sales professionals – especially those selling products or services to Web professionals – a discerning group that has access to plenty of information on which to make their decisions, like reviews and competitors’ content.
InsideSales.com, a cloud-based sales acceleration company, recently released research that offers insights on sales processes, including the best times of the year, month and week to close deals.
For example, according to new data, Q1 is the slowest quarter for sales. Other insights include:
• Monday through Thursday are found the best days to close, with 61 percent success overall. Friday deals closed drop to 53 percent and Saturday and Sunday tank to just over 30 percent wins.
• Most deals are lost on Fridays, with over two times the amount of money in play being lost in deals than on Monday through Thursday.
• Wednesdays have the most deals closed, closely followed by Tuesday.
• The 9th day of each month has the highest win rate with 69 percent. The 31st, however, drops to a low 30 percent.
While the findings were made from more than 600 respondents as well as system data that included over 5.4 million transactions from approximately 5,671 sales representatives over the course of 2015, different industries, company sizes and other factors can influence sales processes. Regardless, InsideSales.com encourages sales leaders to use data to sell faster, smarter and more. Data can be used in a variety of ways such as to identify who to market to and what will pique that contact’s interest. Data can also be used to know a sales team’s success rate at closing/winning deals at certain times of the month and be used to change their approach accordingly.
Predictive solutions like the report’s author, InsideSales.com, identify which deals have a higher probability of closing to help improve a sales person’s odds.