The 2022 B2B Sales Benchmarks Report
The 2022 B2B Sales Benchmarks Report
See how your sales performance compares against some of the best-performing organizations in the world and discover the most influential factors driving revenue success.
And share your thoughts with us:
Key Takeaways
28%
improvement in win rates versus 2020
33%
less time to close opps successfully versus 2020
19%
better win rates with 4-6 relationships (vs 1-3)
38%
less time to close highly engaged opps versus well engaged
136%
improved win rates with great engagement versus good
58%
less time to close opps with 7-9 relationships vs 2020
2021 marked the first year when we could finally see the results of 2 years of digital transformation for sales teams.
The pandemic claimed its fair share of scalps, but those who have emerged have come out much stronger for it. 2020 was the year which lit the touchpaper and ignited the rapid digital transformation of sales teams.
Last year, our inaugural report was inspired by this seismic shift. Now it serves to help pioneer the data-driven future for sales. For all those who are on this journey, the B2B Sales Benchmark Report highlights the performance benchmarks behind some of the best-performing organizations in the world.
Our goal ultimately is to reveal the most influential factors driving revenue success. Outside of the sales bubble, 2021 brought much-needed stability to the world, and to B2B sales. Mass vaccination rollouts have not only helped countries regain an air of normalcy, but they’ve also enabled business as usual to resume as confidence levels return across global markets. This is reflected in the insights from this year’s report. In general, win rates improved and opportunity values increased. Whilst sales cycles grew too, it was a step away from the polarising ‘urgent’ or ‘not urgent’ buying behaviours seen in 2020.
The last two years have been transformational for B2B.
As buyers were forced online, it triggered a drastic change in their behaviour. For organizations, this resulted in a rapid scramble to adapt and accelerate their digital transformation.
As with any shift on this scale, the move to be ‘digital-first’ not only upset the status quo - but it presented a wealth of new opportunities. Those who reacted first, and adapted quickest, are already beginning to press home their advantage. On the other hand, those who have not, face falling behind even faster in 2022.
With so much to explore and discover in this brave new world, our B2B Sales Benchmark Report for 2022 now represents an early indicator for how far the landscape has changed.
Through our analysis, the pace of change has been faster than we expected. As a result, we will be going further and deeper in our analysis to keep pace with how the best-performing organizations are adapting. Later in Q1, we will be launching the B2B RevOps Vault to uncover more actionable insights and begin revealing how the great people behind these organizations do it.
More relationships with key stakeholders = increased win rates
4-6 relationships led to a 19% increase in win rates compared to those with just 1-3. Nurture 7-9 relationships and the win rates improved further - 14% more than those with just 4-6. Opportunities with 10-12 relationships delivered the strongest win rates at 56%
Strong engagement (80-100) with an opportunity delivered a win rate of 59% , as opposed to just 25% with only good engagement (60-80)
Strong engagement was even more effective in 2021 as win rates improved 15% YoY
Highly engaged opportunities (80-100) took 38% less time to close successfully than well-engaged ones (60-80)
Strong engagement (80-100) was even more effective in 2021 - delivering 30% shorter sales cycles compared to 2020. Good engagement (60-80) still proved valuable compared to acceptable engagement (41-60) with 37% shorter sales cycles
In the new data-driven era, sales processes are becoming increasingly complex with more factors to consider than ever before.
Win rates, sales cycles, opportunity values and sales velocity are the lifeblood of any data-driven sales function. However, without an understanding of how it compares to others, companies are unable to understand whether they are fulfilling their potential.
For all in B2B, the sales process has only become more complex as buyer behaviour has shifted drastically over the past 12 months. Fortunately, in this new world, we have the opportunity to dissect this process and begin to understand what has the biggest impact on increasing win rates, sales cycles and opportunity values.
In this report, we’ve started to understand the essential influencers on these metrics; relationships and engagement. This ultimately is just beginning to scratch at the surface of exploring how to turn good into great.
In this new world, the pace of change is phenomenal. We want to unpack the ingredients behind best-in-class sales processes. Our goal is to provide actionable insights which help you take control and be intentional with your actions to improve the speed and efficiency of your sales function.
To keep pace as this movement inevitably grows, we are devoted to delving deeper into understanding how high-growth sales teams are achieving unprecedented levels of success. We will explore the depths of what impacts the four core metrics of the sales function: win rate, sales cycle, opportunity value and sales velocity.
Download the report and we’ll share the opportunity to receive exclusive early-access to these insights, so you, and your business, can keep up with this rate of change.