The fourth edition of our Sales Performance Report is now available. The Sherpa Data Team has analyzed the numbers and compiled highlights of sales activities from August 2020 compared to the months prior–including those most affected by Covid-19–as well as the year before. You can register to download our previous report here.
The results showed that sales teams were working fewer leads in August than in July or June but spent more time per prospect. Studies show that spending more time per prospect is correlated with higher conversions.
While the trend has been positive since April, net move-ins fell back into negative territory from July to August. Net move-ins are still far below where they were in 2019, as are many of the sales activities and outcomes we saw in August. The effects of Covid-19 may be felt for some time to come.
Some other key takeaways from the report include:
New leads: New lead volume for August was 27% lower than in January 2020 but saw a 53% increase from the low point in April and was slightly higher than in July.
Time in the Selling Zone: In August we saw more time spent per prospect, which previous studies have shown to increase conversions.
Outreach: Slightly fewer professional referral sources were worked in August compared to June and July but more time was spent with each contact.
Virtual tours: Sales teams spent more time on virtual tours in August than previous months while total virtual tour volume decreased slightly.
Outcomes & conversions: There was a lower percentage of worked leads with at least one advance, but the volume of key advances in August increased slightly from the year before.