This is the first of three blogs which examine how ‘time’ impacts selling opportunities.
The findings below are based on analysis of website traffic and conversion data over a 5 year period*.
Please note that ‘conversion’ refers to a website visitor who requested contact and ‘qualification’ refers to conversions qualified through needs analysis and BANT.
1. January through to May has the highest conversion rates (February performing a massive 10% higher than average).
The beginning of the year has far better conversion rates than any other time and B2B sellers should be ready to take advantage. This is the most effective time to begin a new campaign as companies often have, or are in the process of planning, new budgets! For those pursuing high-end, complex sales, beginning to nurture potential clients 3-6 months ahead of this period will increase likelihood of an existing relationship during January to May.
2. Conversion rates dropped significantly during the summer months and December (December was 12% below average).
Conversion rates fall during the summer, for obvious reasons such as holidays away from work. So consequently this may be the ideal time for the sales staff holidays or company events. The noticeable dip in December is likely to be the result of companies preparing for the New Year. In B2B sales December could be considered an important month for human interaction , account nurturing and campaign planning, this will ensure you’re ready for the new year high conversion period.
3. Qualification rates are 2% higher than average from June to August.
During these summer months qualification rates increased, which may be based on the conversion rates simultaneously falling below average. With less warm leads coming through agents have far more time to ensure they reach the right people and analyse each companies potential.
Seasonality is extremely important in B2B sales! So although these dates may not reflect personal experience it’s vital that you plan your year to ensure it reflects your own company trends. Analysis of your monthly sales figures over three years could be a start.