As a salesperson, meeting (and exceeding) your annual quota requires more than a persuasive pitch and a charming demeanor.
The needs and buying behaviors of prospective clients change rapidly and it’s your job to stay updated about these changes and adapt accordingly.
To do that, you have to know what the sales prospecting landscape looked like in recent years and use that information to predict what it’ll look like in the future.
That’s why we’ve compiled this list of 50 sales prospecting statistics for 2024.
Before we look at these statistics, though, we’ll examine what sales prospecting is, what a typical sales prospecting process looks like, and why it’s an important part of the sales process.
Then we’ll cover how to improve your sales prospecting efforts (according to experts).
What is sales prospecting?
Sales prospecting is the process of identifying potential customers or clients who may be interested in purchasing a product or service that a company offers.
This process involves researching and reaching out to individuals or organizations that match your ideal customer profile (ICP) via methods like cold calling, emailing, and texting.
Prospecting is the first stage of the sales cycle; it helps you identify people or businesses with problems and needs that your product can solve (or provide). This way, you can reach out to them and position your offer(s) as a solution, which increases your chances of making a sale.
How to improve sales prospecting in 2024 (according to experts)
As you might’ve noticed, sales prospecting is an evolving vertical. We’re steadily moving from traditional lead lists and outdated data to using professional networks, contact databases, and AI-based sales tools to reach and convert potential customers
Use a CRM tool to manage leads
In this technology-heavy era, it’s no longer sufficient to just make lists of prospects in Google Sheets and mark them down as you reach out. Now, businesses use customer relationship management (CRM) tools like HubSpot and Salesforce to keep track of all interactions with leads, follow up with them, and ensure that no lead falls through the cracks.
Speaking of following up, Gabrielle Marie Yap, the culinary entrepreneur at Carnivore Style explains that “it’s not enough to establish an initial connection and then wait for the prospect to contact you. Instead, stay in touch regularly, provide valuable insights or resources, and address any concerns they may have. This proactive approach demonstrates to prospects that you are committed to their success and will go above and beyond to earn their business.”
Build relationships with prospects
People are more likely to trust and buy a product from their friends than from total strangers. While you might not be able to ‘befriend’ decision-makers in the traditional sense of the word, you should try to build relationships with them. Prove that you’re not another shill trying to take their hard-earned money and that you actually care about solving their problems. This is how you get them to trust you.
Andrew Gella is the CEO and founder of Formen Inc., a company that creates professional grooming and makeup products for men. Speaking about relationship-building, Andrew posits that selling isn’t just business transactions; it’s about building strong, trusted relationships.
“My initial success with Formen was directly tied to my ability to build relationships with clients who initially had minimal interest in men’s makeup,” Andrew explains. “Framing my pitches in a way that connected to their needs turned prospects into customers, and with attention and support, customers into brand advocates.”
This experience isn’t unique to Andrew Grella. Mark Mcshane, the Sales and Marketing Lead at AED training shared an anecdote with me: “By hosting monthly webinars on AED training and first aid knowledge, we’ve positioned ourselves as thought leaders. A webinar attendee, inspired by the compelling stories of lives saved with prompt AED access we shared six months prior, equipped their entire office with AEDs—spurring a $10,000 sale that originated from a complimentary yet genuinely valuable webinar. Invest in relationships constantly: the returns, though not immediate, are frequently significant and enduring.”
Use social media for prospecting
LinkedIn’s 2022 global sales study showed that social selling is at an all-time high right now — and for good reason, too! Salespeople are now realizing that, while social media is great for increasing brand awareness, it’s also a great way to find and connect directly with prospective buyers.
This is especially true for B2B companies as LinkedIn, the largest professional network in the world, has become a goldmine for digging up target companies and their key decision-makers.
Alexej Pikovsky, the CEO at NUOPTIMA shares: “We encourage our sales team to use social media platforms, especially LinkedIn, to research and connect with potential leads. For example, one of our salespeople noticed a prospect frequently discussing sustainability in their LinkedIn posts. By initiating a conversation around our eco-friendly marketing solutions, they quickly gained the prospect’s interest, leading to a fruitful partnership.”
- Althea Storm