Sales Conversion Rates – What are yours?
If you are a sales person/sales manager/sales director/business owner and you don’t know you sales conversion rates then you sales are probably in decline and your company is no longer benefiting from new business growth.
Poor sales people don’t want to be judged by them and the best sales people know them by heart.
There are only three conversion rates you need to focus on.
- How many calls to book an appointment/presentation
- How many appointments/presentations create a new sale or client.
- Revenue/Profit for each new client
These rates can fluctuate widely and can depend on multiple factors – client size, target prospect, product /service supplied etc.
Your conversion rates can be calculated in 5 minutes
- Appointments set / Qualified Leads x 100
- New Clients / Appointments set x 100
- £ x New Clients £
Eg: Office Cleaning Business selling to Office Managers
- 10 Appointments set / 80 Qualified Leads = 12.5% Conversion Rate
- 4 New Clients / 10 Appointments set = 40.0% Conversion Rate
- 4 x £500 = £2,000.00
Broken down this equates to 80 Calls / 10 Appts / 4 Clients / £2,000 revenue.
Calculate your conversion rates, then target the activity everything else will just work!
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Telesales – Sales – Management – Training
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