124 Sales Statistics for SaaS Companies and the Trends They Forecast for 2024

The SaaS industry is among the fastest-growing industries in the IT field. And it shows no sign of stopping anytime soon.

Currently, it’s estimated to be worth a whopping $145 billion.

SaaS solutions are becoming the go-to solution for many businesses. They operate on a subscription basis and are usually cloud-based, making them flexible and affordable.

And since the rise in the work-from-home environment due to the COVID-19 pandemic, the need for SaaS has only increased.

In this post, we’ll discuss 124 sales statistics for SaaS companies and the trends they forecast for 2024. The goal is to help you take your sales to the next level using the lessons we’ve learned so far.

124 Sales Statistics for SaaS Companies You Should Know

Inside Sales Statistics

Inside or “remote” sales is a powerful sales strategy. It allows businesses to be “first to the scene” and is cost-effective.

Here are a few inside sales statistics you should know.

• 94% of surveyed business owners reported that company productivity has been higher (27%) or the same (67%) since workers started working from home during the COVID-19 lockdowns. Source – CNN

• 52% of employees said that they would prefer a more flexible, “hybrid” virtual-working model post-pandemic. 37% wanted to return to previous sales models. Source – Mckinsey

• 37% of high-growth businesses use inside sales as their main strategy. 27% use outside sales, 23% online sales, and 8% other channel sales. Source – PacificCrest

• Inside sales are much more cost-effective when compared to outside sales strategies. The average remote sale call costs roughly $50, while a field sale costs $308. Source – PointClear

• 70% of clients don’t want in-person meetings. They are open to doing business remotely. Source – SalesBenchmarkIndex

• According to Upwork, 22% of the U.S workforce will work remotely by the year 2025. Source – Upwork

• The average rate of success for inside sales representatives is approximately 18%. Source – iHireSalesPeople

• Remote workers make roughly 8.3% more than field workers with the same qualifications and job. They make 7.5% greater in general — not accounting for job title, location, or experience. Source – PayScale

• 78% of decision-makers within organizations have attended an event or taken an appointment based on a cold email or call. Source – DiscoverOrg

• 35-50% of sales go to the company that responds first. Source – InsideSales

• Only 33% of an inside sales representative’s time is spent actively selling. Source – CSO Insights

• 71% of sales reps say that they spend too much energy on data entry. Source – ToutApp

• Most sales organizations have a 60/40 split between field and inside sales roles. Source – DePaul University

• The cost of replacing an inside sales rep is roughly $97,690. And it roughly takes about 3.69 months to find a suitable replacement. Source – DePaul University

The takeaway

Speed is everything when it comes to marketing. An efficient call and email structure for sales reps is crucial for 2024.

Outside Sales Statistics

Outside selling is what a conventional salesman does. It involves going out into the field to meet prospects and selling them your product.

Outside sales have stood the test of time. It still provides some of the biggest sales quota attaining percentages out there.

Here are a few eye-opening statistics about outside sales.

• Outside sales teams make up approximately 71.2% of the sales force. Source – InsideSales

• Field sales reps maintain a high average closing rate of 40%. Source – iHireSalesPeople

• After COVID-19, 27% of outside sales teams considered taking up remote sales roles. Source – Gartner

• 65% of field sales executives attain a 10% higher quota than inside reps. Source – InsideSales.com

• The average annual quota for outside sales representatives is roughly $2.7 million. Source – Harvard Business Review

• Outside sales agents now spend roughly 90% more time selling virtually than in 2013. Source – InsideSales

The takeaway

Building a solid outside sales team can be a great way to hit sales quotas. Virtual selling is still no substitute for a live one to one interaction. Ideally, both outside and inside sales teams should work together to drive sales.

Sales Prospecting Statistics

Methods for prospecting leads are changing. A few decades ago, one on one interaction used to be the only way to connect with potential customers.

Today, we have smartphones and emails, opening up countless new ways to locate and reach prospects.

Here are some interesting stats.

• More than 40% of sales reps consider prospecting to be the most difficult part of the sales funnel. Source – Hubspot

• 72% of businesses with fewer than 50 new sales opportunities per month didn’t meet their revenue goals. This was compared to 15% of businesses with 50-100 new opportunities. And only 4% for businesses with 100-200 new opportunities. Source – Hubspot

• 19% of potential buyers wish to connect with a sales rep during the “awareness stage” of the buying process. This is where they first get to know about a product. Source – Hubspot Sales Perception Survey, Q1 2016

• 60% of buyers want to talk with sales reps during the “consideration stage” of the buying process. This stage occurs after a buyer has researched their options. Source – Hubspot Sales Perception Survey, Q1 2016

• 20% of clients want to connect during the “decision stage”, after deciding which product to buy. Source – Hubspot Sales Perception Survey, Q1 2016

• 9 out of 10 organizations use two or more lead enrichment tools to know more about their prospects. Source – Gartner

• Generally, 50% of your prospects aren’t a good fit for what you’re selling. Source – SalesInsights

• 66.7% of sales reps reach out to about 250 people or less in a year. Source – SalesInsights

The takeaway

Prospecting is considered to be one of the most difficult tasks for a sales rep. Luckily, technology has made finding and reaching prospective clients easier than ever.

Investing in tools that allow you to gather lead data and build profiles in your market should not be considered a luxury anymore.

Sales Call Statistics

Contrary to popular belief, cold calling isn’t dead — at least not yet. New data suggests that it’s still a viable strategy.

Here are some crucial statistics about sales calls.

• 41.2% of sales reps consider their phone as their biggest sales tool. Source – SalesInsights

• 92% of all interactions with customers occur over the phone. Source – SalesForce

• Experts suggest that sales reps should average 60 calls each day. Source – ringDNA

• In 2007, it took only 3.68 call attempts to connect with a prospect. Nowadays, it takes around 8 cold calls to do the same. Source – TeleNet and Ovation Sales Group

• 85% of prospects and clients are disappointed with their sales call experience. Source – SalesForce

• 42% of sales reps feel that they don’t have enough information before cold calling. Source – D&B

• It takes approximately 18 calls to get in touch with a buyer. Source – Gartner

• The best time for cold calling is 4-5 pm, while the worst time is between 11 am and 2 pm. Source – InsideSales.com

• The majority of sales managers don’t make more than 2 attempts to get leads through cold calls. Source – CallPage

• 15% of a sales rep’s time is spent leaving voicemails. Source – RingLead

• The optimal duration for a voicemail lies between 8-14 seconds. Source – CloudTalk

• The average response rate for voicemail sits at 4.8%. Source – InsideSales.com

The takeaway

Even though it’s not dead, cold calling is becoming more difficult as time passes. It might be better to focus on other marketing channels in the future.

Sales Referral Statistics

A referral from a satisfied customer is way more powerful than a sales pitch. Despite their value, not many businesses actively ask for them. Here are a few interesting stats about referral sales.

• 47% of top sellers consistently ask for referrals from their customers. This is compared to only 26% of non-top performers who do so. Source – SalesInsights

• 92% of consumers trust the recommendations of people in their social circle. Source – AnnexCloud

• 83% of online shoppers in the U.S. are influenced by their friends’ social media posts. Source – Extole

• Prospects referred by a friend are up to 4x more likely to purchase what you’re selling. Source – Review42

• When referred by other clients, prospects have a 37% greater retention rate. Source – Deloitte

• The lifetime value of referred clients is roughly 16% greater than non-referred customers. Source – Wharton School of Business

• Consumers trust their friends’ recommendations 7x more than paid advertisements. Source – ReferralCandy

• B2B organizations with referrals achieve a 71% greater conversion rate. Source – Heinz Marketing

• 91% of customers are willing to give referrals. But only 11% of sales reps ask for them. Source – VisualVisitor

• Sales reps that actively ask for referrals earn 4-5x more than those who don’t. Source – VisualVisitor

• Businesses with standardized referral programs experience 86% greater growth vs those without such a program. Source – Heinz Marketing

The takeaway

It’s simple — if you want to get more sales, you must ask your clients for referrals. There is no better way to begin a sales pitch than with a referral from a satisfied customer.

Sales Email Statistics

Email is perhaps the most powerful sales tool for a SaaS company. It boasts an amazing 44:1 ROI.

But because it’s so powerful, it’s also very competitive. According to statistics, the average individual receives north of 100 emails a day!

Here are some other surprising stats about sales emails.

• Personalization upticks inside sales success. When emails have both the subject and message personalized, they have an impressive open rate of 5.9%. Source – Statista

• Only a quarter (24%) of sales emails are ever opened by prospects. Source – Gartner

• Emails are 40x more effective than Twitter or Facebook for customer acquisition. Source – Brevet

• 86% of professionals like using email for business communications. Source – Hubspot (PRO TIP: Use Norbert’s email finder to find email addresses of decision makers) 

• 74% of marketing experts say that targeted personalization boosts customer engagement. Source – eConsultancy.com

• An estimated 376.4 billion emails will be sent each day by the year 2025. Source – Statista

• 49% of companies now use at least some form of email automation. Source – EmailMonday

• An average individual spends about 3.1 hours checking, reading, and replying to emails. Source – Adobe

• 9% of individuals check their email inbox greater than five times a day. Source – The Inbox Report

• 8 out of 10 people prefer communicating with sales reps via email. Source – RainSalesTraining

• 35% of people open a sales email based solely on the subject line. Source – Convince&Convert

• 89% of experienced marketers say that email is their main lead generation channel. Source – Mailigen

• Email marketing strategies produce 2x greater returns than cold calling. Source – MarketingSherpa

The takeaway

Because your prospect’s inbox is flooded with new emails each day, it’s vital to craft attention-grabbing subject lines.

Plus, since half of all emails are opened on smartphones, you should keep subject lines brief.

Bonus tip: Try using social media and email together to increase engagement rates.

You can do this by connecting with your prospects on social media platforms before sending them emails.

If your prospect is familiar with you, they’re more likely to respond positively to your emails.

Sales Follow-up Statistics

Unfortunately, most sales reps tend to give up on prospects way too easily. Prospects need multiple follow-ups across multiple channels before they are ready to purchase.

This is especially true in a B2B setting, where the sales process is long and involves many decision-makers.

Here are a few stats about follow-ups.

• Half of all sales occur after the 5th contact with a prospect. Unfortunately, most sales reps never make more than 2 follow-up attempts. Source – InsideSales

• On average, it takes up to 8 follow-ups to reach a prospect. Source – TeleNet and Ovation Sales Group

• A salesperson is 7x more likely to convert a prospect if they reach within the first 60 minutes of the initial contact. Source – Harvard Business Review

• Only 7% of businesses respond within the first 5 minutes following a form submission. 50% fail to respond within the first five business days. Source – Drift.com

• Sales reps consider LinkedIn an important follow-up platform. 96% of salespeople use the platform at least once per week. Source – CSOInsights

• Texting a prospect at the right time in the sales process can boost conversion by up to 328%. Source – Leads360

• 42% of buyers would be more motivated to purchase if the salesperson got back to them at an agreed-upon time. Source – Invespcro

• 57% of buyers believe they would be more likely to purchase from a sales rep who doesn’t try to pressure them into making a decision when following up. Source – Invespcro

The takeaway

It’s important to be persistent. It’s uncommon for sales to occur on the first contact. Ensure your reps are following up across different channels following the initial contact with prospects.

It’s a good idea to follow up multiple times, and use standardized follow-up intervals.

Lead Nurturing Statistics

Sales cycles are getting longer and more complex. As a result, how most companies generate and nurture leads is changing as well.

Today, initial contact sales are very rare. Both sales and marketing teams need to work in unison to guide clients through the sales funnel.

Businesses with a reproducible system for lead nurturing have significantly better lead-close rates. The following statistics make this very clear.

• On average, nurtured leads bring a 20% increase in sales opportunities compared to non-nurtured leads. Source – DemandGen Report

• 74% of businesses say that converting leads into clients is their biggest priority. Source – Hubspot

• 79% of leads never end up getting converted into sales. This is probably due to a lack of lead nurturing. Source – MarketingSherpa

• 51% of email marketing experts believe email list segmentation is an excellent way to personalize lead nurturing. Source – Databox

• Companies with automated lead nurturing have a 451% boost in qualified leads. Source – Fronetics

• Nurturing leads properly can create 50% more sales-ready leads at a 33% lower expense. Source – Marketo

• A surprising 65% of B2B marketers aren’t nurturing leads. Source – Techjury

The takeaway

Ensure that your business has a sales CRM (Customer Relations Management) strategy in place to:

• build trust
• expand reach
• educate and guide prospects through the sales funnel

Bonus tip: keep in mind the type of information a prospect will need to become “sales-ready” when designing a lead nurturing sequence.

This content will be different for each buyer persona. You should segment lists in the CRM to make sure the right content is sent to the right lead, at the right time.

B2B Sales Statistics

The B2B sales funnel is much more complicated compared to a few years ago. As a result, most of the B2B sales process is already done before a sales rep even contacts a lead.

Here are some interesting stats.

• B2B buyers are 57% through buying research before getting in touch with sales teams. Source – CEB

• An average of 7 individuals are involved in buying decisions. This is true for firms with 100-150 workers. Source – VisualVisitor

• 9 out of 10 B2B buyers say online content plays a moderate-to-major part in their buying decisions. Source – CMO Council

• The average lead to close duration is about 102 days. Source – SalesForce

• 76% of B2B salespeople believe that sales technology is the key to closing deals. Source – LinkedIn

• 84% of CEOs/Vice presidents use social media to make buying decisions. Source – BusinessWire

• 80% of company decision-makers prefer getting business information from articles versus paid ads. Source – LinkedIn

• 62% of B2B prospects say that an online search is one of the first three resources they use to learn about a solution. Source – DemandGen Report

The takeaway

B2B prospects research, compare, and explore the market heavily before purchasing a product.

This is why companies should build in-depth comparison guides. This will allow them to place their solution against other products in the market and explain to buyers why it’s the best.

Plus, these guides can serve as excellent sales enablement materials.

Sales Productivity Statistics

Ideally, sales reps should spend all their time selling.

Unfortunately, the reality is much different. Most of a sales reps time is taken up by non-sales activities. Here are some interesting stats illustrating this.

• Sales reps spend only 39% of their workday engaging with prospects. The majority of their time is spent on non-sales tasks. These include writing emails, entering data, researching leads, attending meetings, and scheduling calls. Source – Mckinsey

• Only about 60% of sales reps are able to meet their quotas. Source – The Leyden Group

• According to a survey, more than 50% of sales reps seek help from their peers for improving. Source – Hubspot

• 6 out of 10 sales reps say that once they find what works for them, they don’t try to change their strategy. Source – Hubspot

• Top-performing sales teams use 3x the amount of sales tech than underperforming teams. Source – SalesForce

• On average, companies spend $24,000 per individual to boost productivity. However, 49% of firms have no or limited means to assess productivity. Source – CallHub

The takeaway

Boosting productivity is important. But assessing productivity is even more important. Up to 49% of firms don’t assess productivity. Don’t make that mistake.

Sales AI Statistics

Artificial intelligence might be the new kid on the block in the business world. But it has already started changing the way we sell products.

Businesses that use AI experience significant benefits like:

• cost reduction
• increased revenue
• improved efficiency
• better customer experience

Here are a few statistics to highlight the importance of AI in sales.

• Top performing sales/marketing teams are 2.8 times more likely to be well-versed in AI . Source – SalesForce

• By 2025, 75% of B2B sellers will mix AI guided selling solutions with traditional sales playbooks. Source – Gartner

• The adoption rate of AI by sales teams is estimated to increase by 139% in the next few years. This makes it one of the biggest growth areas for sales. Source – WilmingtonBiz

• According to a 2016 survey, firms using AI for sales were able to grow their leads by up to 50% while reducing costs by 40-60%. Source – Harvard Business Review

• 64% of B2B companies consider AI crucial for their strategy and sales. Source – ZoomInfo

• 75% of clients expect businesses to predict their needs and come up with relevant suggestions before contact. Source – LinkedIn

The takeaway

To prepare your business for adopting new sales AI solutions, you should focus on growth instead of reducing costs.

Training or hiring new talent that is well-versed with AI is a good place to start.

Sales and Marketing Alignment Statistics

Thanks to the internet, buyers today are more well-informed than ever before. It’s no longer feasible for sales and marketing teams to operate without collaboration.

Here are some stats that show why sales and marketing alignment is crucial.

• Firms with properly aligned marketing and sales functions experience 36% greater customer retention. Source – MarketingProfs

• Closely aligning sales and marketing provides 38% better sale win rates. Source – MarketingProfs

• Businesses with solid marketing and sales alignment experience a 20% annual rate of growth. Source – Aberdeen

• Surprisingly, only 8% of businesses have proper alignment between marketing and sales. Source – Forrester

• 76% of content marketers forget about sales enablement. Source – Hubspot

• Sales and marketing misalignment can cost B2B organizations up to 10% or more of their revenue per annum. Source – Hubspot

• Strong marketing and sales alignment can make your firm 67% better at securing deals. Source – Marketo

• B2B firms with aligned sales and marketing teams experience 27% faster 3-year profit growth. Source – SiriusDecisions

The takeaway

Sales and marketing efforts need to be strongly aligned.

Try figuring out a list of questions your target audience is searching for on the internet. You should then create content that addresses these topics. And share it across channels where your target audience tends to spend most of their time.

Here are some more tips for sales and marketing alignment by HubSpot.

The more well-informed a buyer is, the quicker and easier it is to close them.

Sales Automation Statistics

Every stage of the sales process is susceptible to human error when done manually. It’s not uncommon for sales reps to lose a deal because they forgot to follow up with a lead.

Fortunately, these mistakes can be avoided by implementing sales automation.

Here are some stats that explain why the sales automation trend will not slow down anytime soon.

• 61% of companies using automation reported surpassing revenue goals in 2020. Source – Hubspot

• High-growth companies have a strong sales automation strategy compared to their competitors. Source – Hinge Research Institute

• Businesses with high-level sales automation create roughly 16% more leads compared to competitors. Source – Hinge Research Institute

• More than 30% of sales-related activities can be completely automated. Source – Mckinsey

• Top-performing companies are 61% more likely to incorporate automation into core business processes. Source – Hinge Research Institute

• Automating sales activities can boost productivity by 14.5%. Source – SalesForce

• 56% of buyers actively try to buy from businesses that they consider as innovative. Source – SalesForce

The takeaway

Your company stands to gain a ton from automating sales.

Social Selling Statistics

Almost everyone uses social media today. Still, social selling has been rather slow.

Most sales reps depend on calls and emails to locate, close, and retain leads. And although these channels are essential, overlooking the importance of social selling can be quite costly.

Let’s take a look at some interesting social selling stats.

• 65% of sales reps who use social selling manage to fill their pipeline, compared to 47% of salespeople who do not. Source – SalesforLife

• Social selling tools can boost win rates by 5% and deal size by 35%. Source – LinkedIn

• 4 out of 10 salespeople have recently closed 2-5 deals via social media. Source – Forbes

• 78% of sales reps using social media manage to outsell their peers. Source – Forbes

• 50% of revenue is influenced by social selling in several industries. These include healthcare, marketing, advertising, and computer software. Source – LinkedIn

• 84% of vice-presidents/CEOs use social media to make purchasing decisions. Source – LinkedIn

• 98% of B2B firms believe in the power of social selling programs. However, only 49% have actually implemented social media strategies. Source – Forrester

• 31% of professionals say that social selling has allowed them to build more meaningful relationships with their customers. Source – CSOInsights

• 63.4% of salespeople who engaged in social selling say they experienced an increase in revenue. This is compared to 41.2% of non-social sellers who experienced an increase in revenue. Source – SalesforLife

• 70% of salespeople prefer using LinkedIn to close sales leads and prospects. Source – LinkedIn

The takeaway

It’s no secret that warm connections deliver greater response rates and more sales. This is why companies should focus on forming connections with leads via social media and make it one of the first steps of their sales process.