The More You Know PSA campaign started back in 1989. Yes, it’s been running that long, which is why that closing jingle with the comet trail star logo has been permanently etched into the minds of generations of NBC viewers. The sheer volume of The More You Know parodies lends credibility to the tagline’s staying power.
It’s a brilliantly simple campaign with an equally simple premise: the more informed you are on what matters, the better off you’ll be.
For sales people, the ability to form meaningful connections with potential buyers is of the utmost importance. So it’s only natural that the more we know about the buyers we’re trying to engage, and how they make buying decisions, the better off we’ll be, right?
The following list of 23 facts about buyers and purchasing was compiled to help ensure your sales strategy is a well-informed one. Because today, the most informed rep usually wins. Feel free to hum the, The More You Know jingle after each fact.
1.) In a typical firm with 100 – 500 employees, an average of 7 people are involved in most buying decisions (Gartner Group)
Takeaway: Multi-threading is an essential sales tactic today. Use the LinkedIn platform to develop a buyer map for your key accounts.
2.) The early bird gets the worm. Fifty percent of sales go to the first salesperson to contact the prospect (InsideSales.com)
Takeaway: Use social listening to uncover new opportunities before the competition does.
3.) Buyers are moving away from industry publications. Adoption as an information source is down 17%. (TriComB2B and the University of Dayton)
Takeaway: Buyers are using online sources like social media and blogs to get their information, and that’s where you need to be.
4.) Visuals are processed 60,000x faster than text. (Neo Mammalian Studios)
Takeaway: Enhance your sales presentations, emails and social updates with compelling visuals.
5.) After a presentation, 63% of attendees remember stories. Only 5% remember statistics. (Authors Chip and Dan Heath)
Takeaway: Although data can lend credibility and offer proof, stories are what attract prospects and move deals through the initial stages of the pipeline.
6.) You are 70% more likely to get an appointment on an unexpected sale if you join LinkedIn Groups. (Steve Richard, Co-Founder of Vorsight)
Takeaway: You heard the man, join LinkedIn Groups. That’s where your buyers are. Did you know you can join up to 50 Groups? Here are some tips to help you use LinkedIn Groups to make sales.
7.) Ninety-one percent of customers say they’d give referrals. Only 11% of salespeople ask for referrals (Dale Carnegie)
Takeaway: Create a referral-generating system that kicks in every time your work leads to a satisfied customer.
8.) In 2007 it took an average of 3.68 cold call attempts to reach a prospect. Today [2013] it takes 8 attempts. (TeleNet and Ovation Sales Group)
Takeaway: Cold calling died in 2013, so don’t do it. Use LinkedIn instead for a more effective, more satisfying selling experience.
9.) The average salesperson only makes two attempts to reach a prospect. (Sirius Decisions) Eighty percent of sales are made on the fifth to twelfth contact.
Takeaway: Persistence pays, literally, when it comes to selling. Luckily you can learn how to become more persistent.
10.) Nurtured leads make 47% larger purchases than non-nurtured leads. (The Annuitas Group)
Takeaway: Maintain patience and keep providing value when leads aren’t quite ready to buy. Use lead nurturing tactics to make warm leads hot.