The State of Conversation Intelligence
Performance Intelligence
How Many Touchpoints Does it Take to Make a Sale?
Maintaining deal momentum is essential closing deals before they lag and lose interest. In an ideal sales process, your product will stay top of mind, relevant, and prioritized for their business goals. Here's what deal momentum looks like in Q4 2020, and how many touchpoints are needed to make a sale.
# of Days Between First & Last Meetings of a Deal
Closed-Won deals usually have about a week between each meeting, but that's not the whole story. From your first call to your last, maintaining connection and momentum with your prospect is key for getting your deal over the line.
"The longer that we wait between validating information or checking in, the more likely we are to lose time. And, as they say, ‘Time kills all deals’."
— Trey Boyer, the VP of Sales and CS at Hudl
# of Days Between Opening & Closing an Account
The sales cycle for both closed won and closed lost deals has lengthened since the start of the year. Since the end of Q2, we see that the sales cycle for closed lost deals are decreasing, which is a sign of improved efficiency, as team invest less time on deals they won't win.
20
There are an average of 20 more days between the opening and closing of a Closed-Won account quarter over quarter.
What the data says about Performance Intelligence
The combination of persistance and relevance will get your deal over the line. Make sure that your team has a process to flag deals that are stalling, and how often to engage with the prospect moving forward. The amount of touchpoints needed to make a sale can vary from deal to deal, but staying top of mind is always a good strategy.
Your teams are meeting more to get to a closed-lost or a closed-won deal, and it's most likely because of the state of the market. Because the market is still volatile, buyers are going to be more cautious and deals will be met with more scrutiny. Make sure to apply the old truism here: The best answer a sales person can get is 'yes'. The second best answer is a quick 'no'.
Make sure you are not investing too many resources in sectors or prospects that aren’t investing right now, and develop air tight processes to follow up with prospects that are investing. Develop a flow for consistent contact between your reps and the prospect.
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