The economic impact of COVID-19 is undeniable. Businesses all across Australia are learning how to adapt to these unprecedented times and we are all learning how to work in the “new normal” world we live in.
After several weeks of concerns about declines in deals created and deals closed, HubSpot are cautiously optimistic about this week’s data. While it’s certainly too early to a “rebound” in the economy, the numbers suggest that companies that had paused “business as usual” in the last several weeks are beginning to make traction and increase business!
Last week saw the highest volume of deals ‘created’ since the start of the pandemic, recorded at an impressive 9% increase the week of April 20.
Buyer engagement reached historic highs last week. Marketing email open rates continue setting new records despite volume of email sends trending far above pre-COVID averages, and the data shows that salespeople are booking more meetings.
But there’s still a major disconnect in how salespeople are prospecting. Thus far, sales teams have struggled to convert buyer interest via email. Send volume was recorded at a staggering 67% above pre-COVID averages, and hasn’t been accompanied by an equivalent increase in close rates.
However, these insights suggest that salespeople are starting to book more meetings, with some adjustments to prospecting strategies, we are hopeful that there’s opportunity for sales performance to continue to improve.
Buyers continue engaging with marketing content at levels equal to or higher than pre-COVID averages. Consumers are still researching and connecting with businesses at high levels. Marketing email volume held steady, declining by less than 1% week-over-week, and remains 25% higher than pre-COVID averages.
Total sales emails increased by 6% the week of April 20, and are trending at 67% above pre-COVID averages — the highest level this metric has reached all year. However, after five straight weeks of decline, sales open rates increased marginally, an indication that more total buyers are responding to sales teams this week.
So, what does all this mean? It’s time to get back to basics. Buyer interest is at historic highs, and sales teams that take the time to target buyers who have expressed interest in their products will be better at capturing their interest than teams who are merely emailing as many people as possible.
Contact Elite Marketing & Media today and let’s discuss a strategy on how to target your ideal customers and turn these browsers into buyers!