Sales Tips: How to Analyze Your Win Rate
By Primary Intelligence, a CustomerCentric Selling® Partner
How to Analyze Sales Win Rate
If you pare down to the simplest method, calculating your sales win rate is the number of pursuits you win to the number you lose. So if you are involved in 100 sales engagements and you win 40 of them, you have a 40 percent win rate.
However, where do you draw the line as to what constitutes an engaged sales deal? You could look at every lead provided to the sales team or you could choose to include only the deals that get past a certain stage in the sales process.
Some organizations only count leads that are “sales ready” as true opportunities.
“Sales Ready” is when the prospective buyer asks for an explanation of your products and services and requests a full demo or presentation from the sales team.
The leads that have some interest in your solutions but haven’t scheduled an appointment wouldn’t count for the win rate calculation. They would instead be part of a calculation that the marketing team would use to determine the success of their nurture campaigns.
When the Buyer is “Sales Ready”
Once the sales team has a sincere conversation with the buyer, they would then be counted as a deal and be considered “sales ready.” Some losses would be sent to a nurture campaign if they choose not to purchase at that time—also known as “no decision” deals. Sales deals lost to a competitor should be placed in a win-back campaign.
Each of these losses or future wins would be nurtured with specific content to help them see the value of your solutions and what they are missing by not purchasing your product or service.
Nevertheless, a simplified calculation of your win rate doesn’t paint an accurate picture nor does it give a quantifiable measurement to understand revenue outcome metrics. Do you know how each sales representative performs by deal type and outcome? How much visibility into the sales cycle do you actually have? What is the ROI on expansions and add-ons?
TruSales for Salesforce.com Users
Primary Intelligence now offers a solution, TruSales for Salesforce.com users that provides a clear analysis of your sales win rate. You’ll immediately know where you stand with win rates, lost deals, no decisions, and revenue by deal types.
It’s completely free if you sign up now for the preview release. Our research shows 85 percent of companies do not know their actual win rate. Why not give TruSales a try? Get access here.