When you look are the various options available to improve sales performance, improving your hit rate has to be your number one focus. It’s the key to working smarter rather than harder!
The interesting thing is, even a small incremental improvement can have a significant impact on your sales results.
For example:
If a sales person creates 50 sales opportunities a year with an Average sale of £100,000.00
The difference between an average sales organisation with a 40% hit rate and a top performing one with a 60% hit rate equates to a cool £1m in additional sales:
Total sales @ 40% £2,000,000 versus Total Sales @ 60% £3,000,000
Even if your sales person improved their Win Rate by 5-8% it would deliver an extra £250-400,000 in sales. A significantly figure in their sales results with the additional benefit of a reduction in the amount of time, energy and company resources they waste on lost opportunities.
So, what are these top performing companies doing differently from the rest?
When comparing the research on top-performing sales organisations with the average ones, several key factors stand out.
- They are focused on driving value for their customers.
- They are maximising the use of a clear sales process.
- They are actively using Opportunity Management tools.
- Management is committed to developing sales skills & prioritise training.
Organisations with this developed and mature sales structure and process are achieving significantly higher win rates and enjoying lower attrition rates within their top performing sales people.
Why not find out how you stake up against Top-Performing Sales Organisations and learn the best ways to improve sales performance for your company.
By identifying the strengths and areas for improvement across the whole team you can put in place a growth plan to rapidly and effectively move your performance to the highest level.
It would be great to hear your thoughts and ideas, and further the conversation, so why not drop me an email at peter.holland@linearstructure.com
