The following was from a newsletter that Jeff Meyer sends out and it too, got me curious as to the source of the stats, and the need for a new survey. Please make your comments as to your thoughts and how a contemporary survey could be done. Attribution to Jeff's ezine is at the end (required per his newsletter):
"A study done by the Association of Sales Executives revealed
that 81% of all sales happen on or after the fifth contact..."
I know that most salespeople waste a lot of their time chasing
prospects that never buy, so I wanted to learn more about this study.
These questions came to mind:
* When was the study done?
* Who was the group conducting the study?
* How was it conducted?
* How did they come to these conclusions?
* Which businesses/industries were included?
* What kind of products/services were being sold?
* Were these experienced sales people or rookies?
The logical place to go for answers was Google.
Much to my surprise, I couldn't find
an "Association of Sales Executives."
After a bit of research, I came across an article from another
study of sales results. This article was attributed to statistics
"compiled by the Sales & Marketing Executives Club of
"Number of calls to close a sale:
2% close on the 1st call
3% close on the 2nd call
4% close on the 3rd call
10% close on the 4th call
81% close on the 5th call"
"Notice that only 19 percent of the sales were closed by
the fourth call. The majority were closed during the fifth call.
"Is five the magic number? Not necessarily, but these statistics
tell us that the longer we hang in, the better our chances
are of closing the sale."
But if you type "Sales & Marketing Executives Club of Los
Angeles" into Google, only two results display, one
of which is the above-mentioned article.
For many years I had heard statistics similar to those just
mentioned, but on the face of it I don't know if
they are correct or not.
"Reprinted with permission from "Jeffrey Mayer's
SucceedingInBusiness.com Newsletter. (Copyright, 2003, Jeffrey J.
Mayer, SucceedingInBusiness.com.) To subscribe to Jeff's free
newsletter, visit http://www.SucceedingInBusiness.com."
So here are MY questions: Do you ever reference this survey? What are you thoughts? Is it time for a new comprensive poll? Comments, please, with your ideas. Let's get some valuable input.
We’ve got even more coming
Sign up for our newsletter to stay on top of the marketing automation industry, our product, and the ScoreMoreSales culture.