B2B Sales Statistics 2023: Knowledge to Design Your Sales Strategie

With the turbulent economic climate and the pandemic of years past, and ongoing technology innovation, the dynamics of your buyers' journeys are drastically changing. Today's B2B buyer is better equipped and informed than ever before and has many of them at the forefront of business decision-making. It is good to know that businesses are no longer confined to traditional sales methods.

Sales teams must leverage techniques based on data in order to stay up with the latest trends and the increased number of decision-makers during the purchasing process. But to keep up on the most current information of sales statistics for B2B. In order to help you achieve that, we've put together 27 sales figures from recent times. Let's dive in!
 If you're in search of B2B sales stats fast use the following links to skip the following steps:

•         B2B Sales Trends in 2023
•         B2B Cold-Calling Statistic
•         B2B Buyer Statistics
•         Final Thoughts
•         FAQs

B2B Sales Trends in 2023

Our current review of B2B sales data begins with B2B sales trends through 2023. In this article, we'll draw a picture of the evolving landscape driven by innovation and changing customer expectations.

70% of B2B organizations have an AI for sales strategies.

In the Gitnux's most recent sales figures, AI has spread its reach into B2B sales strategy, with a significant majority of companies claiming to "have" AI in their current strategy. However, an underwhelming 21% are using it.
 
 Summary: AI is expected to be crucial in the sales strategy from 2023 forward. If you or your staff haven't yet made the jump into AI area, it's not yet too late. Incorporating AI within your current strategy will provide you with an advantage against the 79% businesses that haven't yet implement it.
 
 Source: Gitnux

74% of users are happy when they use custom-produced videos.

In Vidyard's State of Virtual Selling Report, 74% percent of job positions studied had were able to achieve success by using custom-produced videos as part of their demo process, onboarding process, marketing efforts for upselling, as well as when offering renewals.

Takeaway: Video content will continue to play a pivotal role in future B2B selling strategies. Additionally, the content must be tailored to your well-developed buyer persona, as personalization is one of the most important factors for B2B buyers in the modern age.

Source: Vidyard

Video content of short duration contributed to 64% of planned meetings with prospective clients.

A study conducted by B2B Decision Labs created four distinct user groups in order to study the effect of content length on opportunities for sales. It was revealed that the prospecting group who watched a shorter video first, and then the demographic that was short, led to 64% of all appointments with prospective buyers scheduled despite the fact that this group also responded less to outreach than the other groups.

Takeaway: This study emphasizes that it is crucial to follow most appropriate KPIs. Although an increase in email responses as well as answering cold calls might be an improvement, the goal for many businesses is to boost the number of sales or deals. In this case, short content, especially short videos, has led to a growth in sales possibilities.

Source: B2B Decision Labs

B2B eCommerce is expected to account for 17% of all B2B sales by 2023.

A Forrester study claims that "U.S. B2B eCommerce is expected to reach $1.8 trillion, and will account for 17% of all B2B eCommerce sales in the US by 2023." Additionally, Forrester forecasts a compound annual rate of growth of 10% for this same B2B eCommerce area over the next five years.

Summary: The study suggests that B2B sellers and buyers will increasingly turn to the internet for B2B purchases. Since B2B buyers become increasingly at ease with shopping online as well as digital content marketing will take on increasingly significant parts in B2B selling strategies.

Source: Forrester

Fourteen percent of marketers struggle with timing in campaigns.

Data taken from the 2022 Lead Nurturing and Acceleration Benchmark Survey Report claims that 49 percent of marketers are struggling to identify the ideal time to run their campaigns. Furthermore nearly 48% of marketing professionals have difficulty to develop targeted content for each buyer stage.
 
 Takeaway: These statistics emphasize the importance of personalized and consistent sales strategies, and show that a data-driven approach can be difficult. Developing and distributing detailed buyer personas, automation instruments, and continuously trying out strategies are just a few methods that can help your organization determine the ideal time to launch and also develop content that is personalized.
 
 Source for this: Demand Gen

85percent of B2B businesses believe that hybrid reps will become the most popular sales position.

Based on McKinsey and Company, a consultancy firm for management, hybrid sales reps engage with customers via the internet more often than those who meet in person. The firm reports that an overwhelming majority of B2B businesses anticipate that hybrid reps will become the most popular sales position within the next three years. A astounding 64% of B2B companies planning to increase their numbers of hybrid reps within the coming six months.

Takeaway: B2B eCommerce and digital sales represent the future. With most B2B firms poised to capitalize on this B2B sales model, making it a priority to implement the hybrid approach to sales and digital communications strategies will allow you to stay in the game.

Source: McKinsey and Company

89 98% of buyers are more likely to make a purchase when they are reassured by sellers.

According to a new Salesforce report, 89% of buyers are more likely to buy from salespeople who understand their mission and objectives. In addition 71% of B2B buyers said that the majority of transactions felt like more transactional.

In conclusion, the pandemic dramatically affected B2B sales patterns. One of the ways changes in sales is that sales occur more often synchronously and electronically. These figures from Salesforce suggest that buyers want greater understanding and proof of their own needs from sellers. For your benefit, today's B2B buyers don't think they are understood. That's why your emphasis should be on personalized and understanding sales techniques.

Source: Salesforce

The best lead nurturing strategies include sales emails (50%) and sales calls (49%) video (45 percent), email newsletters (44%) as well as customer-generated content (40 40%).

As demonstrated in the Lead Nurturing 2022 and Acceleration Benchmark Survey Report, B2B firms had the greatest success in these five lead nurturing strategies. In the bottom half of initiatives were in-person meetings (33%) and direct mail (32 percent), thought leadership articles (27 percent) blog posts (26%)), and white paper (25 25 percent).

Takeaway: The common element in the figures in this report is personalized digital content. Customized sales emails, customized videos, email newsletters as well as customer-generated content such cases studies are all excellent ways which allow you to provide personalized information with your leads via digital format, further emphasizing the importance of this sales command trend in 2023.

Source: Demand Gen

Sales trainees forget between 84% to 90% of their instruction within 90 days.

Additionally, Ardent reported that approximately 30% of the information lost occurred within just the initial 24 hours of the program.

Source: Ardent

Table: Summary of key patterns and data

B2B Cold Calling Statistics

Let's discuss figures in the realm of cold-calling. In the next part, we'll share key B2B cold calling statistics and uncover valuable insights into the efficacy and development of this old-fashioned sales method.

75 75% of B2B buyers rely on social media content in their decision process.

LinkedIn states that the majority of B2B buyers conduct their buying study on social media. Additionally, LinkedIn discovered that using social media to discover and build relationships with potential customers leads to a 70percent increase in appointments booked.

The findings of LinkedIn highlight the role of social media in modern sales and marketing strategies. Utilizing social media to enhance personalization in outreach sales personnel can increase connections and the effectiveness of cold calls and result in increased sales opportunities.

Source: LinkedIn LinkedIn

60% of buyers refuse sales offers before saying yes.

A Invesp informationgraphic shows that 60% of customers have said no more than four times prior to saying yes. In addition, they found an average of 48% sales representatives fail to follow-up with customers and 44% of them abandon the conversation after just one contact.

 Takeaway: B2B cold calling figures are usually not inspiring. A low rate of success cold calls are often exhaustive and pointless. Yet, these numbers show that the majority of people abandon when they're not statistically likely to see positive results. Develop a strategy for sales that includes many contact attempts to increase your cold-calling success rate.

Origin: Invesp

Cold-call conversion rates are just at 2%.

Hubspot states that only 2% of cold calls have been successful. But despite low conversion rates however, they discovered that cold-calling is an essential element of outreach plans, and if done properly the method can be a successful sales strategy.

The takeaway is that Invesp discovered that nearly 50% of salespeople quit after one or two attempts to contact them, it's unsurprising that overall the conversion rate for cold-calling aren't high. These numbers indicate that a persistent outreach strategy will likely lead to more successful sales.

Source: Hubspot

A simple "How are you doing?" can increase your chance of success to 6.6 percent.

Gong has analyzed more than 90,000 cold call statistics and concluded that asking "How are you doing?" outperformed all studied opening sentences. Gong defines this as"pattern interrupt. "pattern interrupt." Interrupts that follow patterns are speech patterns that break typical habits and require others to embark on a new way of thinking.

The lesson to learn from: Asking your prospect, "How have you been?" may work exceptionally effectively because it's a regular interrupt, but it's also an effective method to customize the call. Considering many prospects feel that selling calls are transactional and therefore, this particular phrase can be supercharged for success. Consider adding it into the scripts for cold calls to B2B for increased performance.

Source: Gong.

Effective cold-calls can trigger 36% of sales from B2B by 2023.

Kacper Rafalski Netguru's Demand Generation Team Leader, states that 36% B2B sales are initiated through successful cold-calls which is 5% increase over 2022. Data was gathered from various software companies throughout Europe.
 
 In spite of the low number for cold calls across the market, Rafalski credits these positive numbers to the introduction of new technologies. This technology makes cold calls more effective as well as more personalized. This is in support of improved sales strategies as well as the implementation of new marketing technology including AI.

 Source: Kacper Rafalski of Netguru

Salespeople average 18+ cold calls before they reach a prospect.

LinkedIn reported that cold calling success rates at 2% or less. This figure aligns closely with the reality that contacting one prospect can take at least 18 calls. When you keep these two figures to be considered, it's no surprise that 63% of salespeople say they find cold calling to be the toughest part of their job.

Conclusion: Cold calling isn't fun, and there's no getting around it. But, despite what some reports might say that cold calling hasn't died and a lot of salespersons claim it has an enduring spot in their sales strategy. Make use of these numbers to establish realistic goals and expectations to yourself, and you might be surprised to find cold calling more efficient.

Source: LinkedIn LinkedIn

Cold calls made between 3pm and 5pm see a pickup rate between 6% and 7%..

An analysis carried out by Revenue.io revealed that people who have a stake in the business are most likely to answer cold calls in the hours between 3pm and 5 pm. Lowest rates of pickup occur before 9 am and after 6 pm. A large drop in rates between 9 am and the middle of the day suggests that it's best to not call in the lunch hour.

What you can learn from this: These statistics, while limited on the Revenue.io platform, suggest that the timing of the day has a significant impact on the success of cold-calling. Study the most efficient time for your particular industry or particular area of expertise, and then try to work at the best timings to achieve the best results.

Source: Revenue

56% of customers would prefer phone calls when communicating with businesses.

An analysis by Salesforce discovered that 56% of clients prefer to communicate by phone when communicating with companies. Only two communication methods outranked phones; these included email (64 percent) as well as in-person (59 percent). Also, it's worth noting that when the research the Baby Boomers were significantly more likely to list the phone as their preferred method than Millennials and Gen Zers.

The figures in this report came taken from a study conducted in April, 2019. This data is likely to have been altered since the outbreak. With the growing need for alternatives in person and the need for electronic outreach, cold phone calls being one of them. It all depends on who your audience is and what you are aware of about each prospective customer, calls can be one of the most preferred methods for communication. The numbers show the value in accurate and current data about your potential customers.

Source: Salesforce

4th and 5th phone calls yield 25 percent of sales potential for B2B.

The report released by B2B Decision Labs studied four distinct sales cadences having 14 contact points across 31 days. Out of the 14 points contact, six attempts included phone calls. Fourth and fifth calls attempt resulted in a total of 25% of potential sales.

Conclusion: The results are in line with the success rate of industry of cold calls. Since this research focused solely on call outreach as only a portion of the overall outreach strategy, the results emphasize the need for an extensive, long-term sales strategy.
 
 "Taken all together, these data further underscore the importance of an approach that is multi-channel. Your sellers can't just mail a few messages and quit. Prospects must be contacted on multiple platforms over an extended time and use the right information at the right moment to motivate prospects to learn more about your solution ."

Source: B2B Decision Labs

Table: Summary of key cold calling statistics

B2B Buyer Statistics

Meet the modern B2B buyer. There has been a lot of change in recent years, so in this section, you'll be able to learn more about the latest buyers' evolving behaviors and tastes, as well as current market trends as well as B2B buyer statistics.

45% of buyer time is spent researching independently.

The Gartner B2B Buying Experience report indicates the fact that 27% of a B2B buyer's time is dedicated to researching online on their own and 18% are conducting research on their own offline, and only 17% is spent meeting with potential suppliers. In addition, Gartner identifies a shift in generational buyer trends, suggesting that millennial buyers are more skeptical of sales reps than baby boomers.

To summarize, "You have to shift your mindset. A small percentage of companies that have intentionally integrated their marketing and sales capabilities have embraced a more seamless digital go-to-market model...These businesses are in a position to improve sales performance over organizations hesitant to embrace the digital first sales model. ."

Source: Gartner Gartner

55 55% of B2B buyers depend more heavily on information.

In the Content Preferences Survey Report, Demand Gen observed five-quarters of consumers now use content more for research and for guiding the purchase decisions they used to in 2021. In addition 62% of B2B customers said they had engaged through three-to-7 articles prior to meeting with sales representatives.

Takeaway: B2B buyers' greater reliance on content underlines the importance of a strategic quality, top-quality content strategy. To excel in a soon-to-be crowded digital B2B market, companies must create relevant, high-value customized, based on data, content that fulfills the buyer's demands. The demand for quality content from consumers will only continue to grow.

Source: Demand Gen

Sixty-seven percent of B2B buyers have engaged with a webinar within the last twelve months.

Following Demand Gen's discovery of an increasing demand for content, they asked regarding the type of content that B2B buyers would consume. A little more than two-thirds said they had attended webinars in recent months, up from their report for 2021. Buyers from B2B are more likely to invest more time in webinars than other content forms 53% of respondents said they would spend 30 to 60 minutes during the webinar, compared to five or 30 minutes with the other forms of content.

The conclusion: it's the right time to invest in your content strategy and webinars. In conjunction with other data that show buyers are spending less time in person, with one-on-one representatives, webinars could provide buyers face-to-face time with corporate reps while delivering highly personalized and relevant information.

Source: Demand Gen

44% of customers say that companies require new methods to get their attention.

In Salesforce's State of the Connected Customer report 44% of consumers think that companies should add channels for connecting. In addition, 40 "of customers will not engage with a business if they can't use their preferred channel." Unsurprisingly, Millennials as well as Gen Zers demonstrate the most variety in their channels, listing 51% more channels on average than Baby Boomers.

The takeaway is that as Millennials as well as Gen Zers continue to take on stakeholder roles in B2B businesses, having an effective sales plan that makes use of multiple connection channels is essential. The Salesforce report further stated that mobile apps are popular among younger generations. Email is a common favorite for every generation. Use your customer's statistics as well as demographics to guide the sales approach to create the most personalized and user-friendly sales journey.

Source: Salesforce

Two-thirds of B2B buyers are drawn to digital or remote communication.

The data collected by McKinsey and Company reveals that nearly two-thirds of B2B buyers "prefer remote human interactions or the use of digital self-service." The report also states that 41% of managers believe that e-commerce is the most successful sales channel above in-person and video channels.

Takeaway: Although digital networks are the trend of the future however, the importance of personal interactions remains. An adaptable and complete plan will include both, appealing to a constantly changing and multifaceted B2B buyers market.

Source: McKinsey and Company

40 percent of B2B customers prefer content optimized for mobile.

In the Demand Gen Content Preferences Survey report indicates, B2B buyers need content to consume through their smartphones and tablets. It's not surprising that 39% stated that they would like to see more short-form video content.

Takeaway: This change in the demand for content that is mobile-friendly is consistent with the changing B2B buyer's profile. As millennials increasingly assume decision-making roles in buying, the demand for content that is mobile-friendly will be essential to sales teams in order to meet their needs.

This research also ties in with the findings of Decision Lab that short videos and infographics generated more sales in comparison to other test content.

Source: Demand Gen

71% of B2B buyers look at reviews when making a decision.

Three-quarters of buyers conduct reviews during the decision stage of the buyer journey. A reported 47% do so in the stage of awareness and 42% in the decision phase. Additionally 92% of the respondents in the G2 survey said that they were more likely to buy products or services if credible reviews have been published and are readily available for them to read.

What's the takeaway? Today's B2B customers are more skeptical of sales reps than ever before. G2's research demonstrates this. It also shows that only one in five companies is considering the addition of reviews into their marketing strategy, representing an enormous gap in opportunity. Businesses that prioritize accumulating and sharing genuine customer reviews can build trust and credibility, gaining significant advantages in today's (and tomorrow's) B2B world.

Source: G2

90% of B2B buyers aren't following a strict sales funnel path.

LinkedIn says that its account-based marketing methods allow any room for error when it comes to B2B campaigns. Then, there is research that shows B2B buyers are on complex, nonlinear paths that make buying decisions an arduous process that sales representatives have to unravel in order to guide customers down the right path effectively.

The lesson to be learned: Selling isn't simple. Due to the increased complexity of more stakeholders, additional methods of communication, as well as changing economic conditions and the need for more than ever before to be able to provide an understanding of all your clients.

Source: LinkedIn

The number of stakeholders involved in B2B purchases has more than doubled in the past 10 years.

According to Gartner according to Gartner, the median number of stakeholders involved in a B2B purchase was five. Today there are over 11 stakeholders, with some purchase having more than 20 stakeholders. Gartner suggests these findings suggest the complexity that is growing in B2B purchases, an idea that is supported by the nonlinear purchasing routes they outline in their study.

Takeaway: Coupled with the results of LinkedIn, this supports the complexity of the B2B purchasing procedure in 2023. Salespeople could have just one prospect or contact point, they'll likely need to consider the needs of five to 20 different roles in the prospect's organization. This is where customer relationship management tools assist you in organizing information about your clients and provide an centralized location for important data.

Source: Gartner

Table: Summary of key B2B statistics on buyer stats

Final Thinking

This in-depth look at the 2023 trends in B2B sales highlights the growing importance of integrating technologies, such as AI and video, into strategies for sales. In the age of B2B eCommerce customized and digital content is increasingly important than ever. While, understanding customer needs and establishing the role of sales professionals who are able to work in a hybrid fashion have been identified as areas for future focus. Finally, attention is being put upon the necessity to rethink the training process. In order to keep pace with the constantly changing environment, companies must be up-to-date with new statistics on sales and prepare to change strategies to meet the changing needs.

Do you want to keep on top of B2B Sales? Want to know how to improve your sales?

Learn how to scale your operations with impactful modifications to your selling and marketing plans with this B2B-friendly course for free "Selling At Scale" class.

FAQs

Why is it important to stay on top of B2B statistics on sales?

Keeping up with B2B sales statistics will allow you to comprehend the current trends in the market, evaluate your own performances against industry benchmarks as well as develop and tweak data-driven strategies that improve your sales and marketing strategies.

How do B2B cold-calling stats help my sales plan?

B2B cold calling statistics can be an effective method to boost the sales of your business. They provide you with crucial insights into how your activities are compared to the industry norms, helping you identify the strengths and weaknesses of your current strategy. As a result, you'll have the ability to set goals according to benchmarks in the industry as well as past results and assign resources according to the return on investment.

What are the most common blunders I avoid when interpreting sales figures?

Interpreting sales statistics can be an extremely effective method of shaping and boosting your sales. But, it is important to avoid the most common errors that can lead to inaccurate results or misguided decisions that could have a negative impact on the sales process. The most important pitfalls to watch out for:

• Using small samples can produce profound emotional experiences, but they're unlikely to yield significantly statistically relevant results. That's why the sales data derived from a study of 75 B2B companies in the U.S. is unlikely to reveal meaningful outcomes that can be applied to the three million or more B2B firms across the U.S. overall.
• Confusion of correlation and causation could result in people drawing incorrect conclusions regarding the relationship between different variables. For example, as ice cream sales increase, so do violent crimes. Despite the positive correlation between the two variables, the causal variable is actually increased temperature in the summer months.
• Selecting the wrong KPIs, or misinterpreting your KPIs in the beginning, could result in inaccurate assessments of your performance and misguide decision-making in future strategy. For example, focusing on the number of deals closed may be inefficient when churn rates are very high or you have a majority of your deals are low worth.
• In the absence of clear goals, people to choose the incorrect statistics, metrics, and KPIs that they should focus on. That's why you must identify and define clearly your objectives prior to beginning to collect data, let alone examine it.
• Picking the wrong technique for sales analysis is a mistake. You can use many sales analysis methods to analyze sales statistics and data. The clearness of your goals will inform which analysis you choose.
• Incorrectly interpreting sales figures without context can result in A distorted impression of the sales you have made. Contextual factors like market circumstances, trends in the industry, and company-specific variables are crucial in interpreting sales stats appropriately. As an example, a decline in sales may not indicate an ineffective sales team when you look at an overall decline in the market.
• Utilizing untrusted and unverified sources can jeopardize your entire analysis.You must only rely on information from reliable and verified sources when you are interpreting statistics. Incorrect or misleading information can cause incorrect conclusions as well as bad strategy design.