“How are sales compared to last year?”
Today we’re going to take a look at – and compare – 2019 to 2020 when it comes to association sales.
2019, Q2: things going well.
2020, Q 2: oh my gosh.
Let’s take a look at the numbers, pulled from Salesforce by our data expert Kerry Doyle, based on our work in the field.
On average, it took 31 days to close a membership sale in 2019. It’s currently taking 30 days to close in 2020. Virtually the same.
It takes seven activities, in both 2019 and 2020, to close the sale with an average of 20 phone calls or emails to close the deal from start to finish.
The closed deal percentage was almost at 50% in 2019; now, we’re down to about 44%. However, in my view, it’s consistent. Why? Because you’re delivering a lot of value. Your sales team is selling memberships in this environment because of all the brand building, awareness, insights, and education you’re providing. Good job!
We’re seeing a bigger difference in sponsorship sales over last year.
In 2019 it took 46 days to close a sale. In 2020 it’s taking 48 days to close.
It took five activities in 2019, compared to four this year, to close a sale. The big difference is the percentage of close. We were closing 60% of everything in the pipeline in 2019 and we’re closing 32% 2020. That’s a big gap. Here’s why: we’ve seen a huge disruption in sponsorship inventory. We’ve been canceling and postponing events. Some inventory has completely gone away or canceled. Associations are adjusting from live to virtual events. The event disruption and turnaround has caused some of the sponsors to become a little bit jittery. And, obviously, they also may have had some budget constriction as well.
What’s really important right now is to educate your sponsors about all the new platforms that are now available. Give them the information that they need to make the right decision for them. We’re starting to see some really good stories about data collection and real return on investment with sponsorships. And, you probably need to give them a little bit more time to decide. Once sponsors are comfortable making decisions, the sales percentages are going to go up for because sponsors need the opportunity. They’re out of the ideas when it comes to calling or sending e-mails to prospects on their own. Tey need your platform.
Q3 and Q4 is going to be an awesome time for us. Watch it. Let’s do it together.
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