National Sales Center

Close Rate Is The Only Honest Number

We sure track a lot of numbers in Sales and at some point it gets ridiculous. Often reps are told to improve a certain ratio but never told how, like improving the number of first appointments that convert to second appointments. Much of this is a lot of bologna. Close rate is the only honest sales career number and one you can’t run from no matter how you may try.

Sales Managers love to track “appointments per week”. These Sales managers need to be careful about driving activity for the sake of activity. There is no benefit in attending 15 appointments in one week if not one appointment is qualified or results in a sales. That’s why I say Close Rate is the king of all statistics.

Close Rate brings a quality measurement to all activity numbers. You could run around like a chicken without a head all day but if your sales Close Rate is low, you’re not making any traction and wasting a lot of precious time. The focus must be on quality and not quantity. Close Rate is the tool that makes that happen.

Calculating Close Rate

When you start to calculate your Close Rate depends on your particular sales circumstances. It’s easy to calculate Close Rate in a “one call close” environment but all that changes in a multi call sales cycle.  You may want to know how many product presentations result in a sales or how many proposals result in an order. All that matters is that you calculate your Close Rate consistently using the same matrix.

Increase Your Close Rate

Numbers must be studied and not just allowed to fill in a line on some activity report. Your close rate will tell you where you are falling down in the sales process. That’s why I recommend calculating Close Rate on more than one key sales activity. You may need to improve your probing skills, presentation skills or proposal writing skills. Once you have this information, you are well on your way to increasing your Close Rate.

How To Improve Your Close Rate

We all know that statistics can be made to lie buy it sure is difficult to lie about your close rate. Either you got the order or you didn’t get the order. If you didn’t get the order, you missed something. There was something you could have done better and that “something” is where you need to improve. If you want to know how to improve your close rate, uncover that ‘something” and improve it with some solid sales training. That’s how you improve your Close Rate.

Your Close Rate speaks volumes about your sales techniques. Close Rate is the one number that keeps all other numbers honest. Get serious about your sales career and improve your close rate by getting your hands on some powerful sales training programs.

I wish you great success and a 100% Close Rate! Why not?

Nick

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Tags: closing sales