Nearbound Daily #540: $54 Billion In Revenue Analyzed 😱

Nearbound Daily #540: $54 Billion In Revenue Analyzed 😱

Ella Richmond 4 min

Faulty equations ➕ 

More doesn’t equal more.

 

People used to rely on the equation: more input = more output.

 

But now businesses are being forced to evaluate how they’re spending money, building their teams, and growing.

 

To survive, every business (and professional) must adapt to the new buyer’s journey and must learn to do more with less. That means finding effective and efficient growth levers.

 

That’s where nearbound comes in. 

 

Nearbound is the most effective growth lever every business and professional can leverage to do more with less.

 

Keep reading to learn how the best Sellers are already leveraging nearbound sales tactics.


$54 billion in revenue analyzed 🕵️

Pavillion and Ebsta analyzed 4.2 million opportunities, 1m+ hours of conversations, from 530 companies, representing over $54 billion in revenue to create their B2B Sales Benchmarks report.

 

The major takeaway: the best reps use nearbound sales tactics.

 

They opened the report with a few major stats.

B2B-Sales-Benchmarks-2024_.pdf 2024-03-14 at 3.11.18 PM

The report explains,

Businesses were still buying through 2023; however, as budgets tightened, win rates declined (-18%) compared to 2022, as well as being down -27% compared to 2021.

B2B-Sales-Benchmarks-2024_.pdf 2024-03-14 at 3.11.50 PM

While most Sellers are struggling, the best out there (only 31% of all Sellers) are still hitting quota and what’s interesting is how they’re doing it.

 

The best Sellers are leveraging nearbound tactics.

 

According to the report, here are 3 things the most effective reps do:

  1. Make the most of their time

    ”When prospecting, top performers prioritize the right accounts and personas to make the most effective use of their time.”

    And what’s even better is the report specifically shouted out partnerships as one of the best uses of time.

    "As shown by the graph, the returns from channels such as partnerships (3.8x velocity) greatly outweigh the ROI on channels such as outbound, organic inbound, and paid, where the majority of investment is made."

B2B-Sales-Benchmarks-2024_.pdf 2024-03-14 at 3.13.39 PM

The graph shows partnerships with 3.8x velocity.

 

p.s. one of the best ways Sellers can prioritize accounts is using account mapping tools like Reveal.

  1. Leverage intel

    Top performers leverage intel to overcome objections and accelerate deals.

    Most reps do this by combing through call recordings and notes. Reps that know nearbound sales plays do this by asking for intel from trusted sources like mutual partners.

    Check out the full intel play here and send this to your Sellers.

  2. Prioritize relationships

    The best reps engage key stakeholders early in the sales process.

    According to the report,

    ”Successful deals involve 9 contacts engaged when reaching the solution presented stage, while lost deals have just 2 on average.”

    Nearbound surround is all about tapping into networks of trust. It’s like multithreading a deal on steroids.

To be successful, you can’t operate with a more = more approach.

 

Instead, you have to look for those ways to do more, with less. Aka, you have to look for leverage.

 

Check out the full report here and send this email to your Sellers so they can check it out too.


Become a top performer with this guide

Top performers tap into trusted sources for intel, influence, and intros. Learn how to do that with this play-by-play guide.

 

Note for partner pros: take this blueprint to your Sellers and help them unleash their potential. Sellers know there’s a problem and they desperately want a solution. Help them out.

Blueprint cover-1

Open letter from Sales to Partnerships

There’s a major gap in how the market enables Partner Managers to drive value to Sales.

 

In his Open Letter to Partnerships, from Sales, Simon Bouchez (CEO at Reveal) explains:

  • The state of the B2B sales funnel

  • The Sales-Partnership Paradox

  • Why you should start with business objectives, not partner objectives

  • The real opportunity that exists this year

Because if you’re a partner pro who’s not unlocking value and proactively bringing it to the right accounts at the right time, you’ll get ignored or fired.


Nearbound email templates

We’ve compiled a list of emails you can use to run nearbound sales plays based on the 3 I’s of Nearbound—Intel, Influence, and Intros.

 

They offer a strategic approach to re-engage with buyers who have become disengaged or have "ghosted" your outreach efforts.

 

By leveraging partner relationships and co-creating value, you can reignite interest, gain valuable insights, and potentially convert these leads into customers.


Become the nearbound expert

It’s time to become the nearbound expert for your organization. If you’re going to push partnerships as an overlay, you need to have the answers to the test.

 

You need to understand what nearbound is, why it’s necessary right now, and how to do it so that you’re the person who can facilitate nearbound in your entire organization.

 

Get your copy of NEARBOUND and the Rise of the Who Economy today.

 

Be the person everyone else comes to.

Nearbound and the Rise of the Who Economy by Jared Fuller 2024-03-15 at 8.35.45 AM

Share this with a Seller

Numbers don’t lie. The best Sellers already use nearbound tactics.

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Ella Richmond 4 min

Nearbound Daily #540: $54 Billion In Revenue Analyzed 😱


Pavillion and Ebsta analyzed 4.2 million opportunities & 1m+ hours of conversations. They found the best reps use nearbound sales tactics.


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