Close Rate Optimization is the Superpower of Strong B2B Sales Teams - Ed Marsh ConsultingWhat's measured is managed. Basic business blocking and tackling. But what do we normally measure in sales?
Close rate is a common and important KPI, but is it meaningful? In order to matter, close rate has to be calculated the same way every time. Every deal. Every rep.
The denominator is the critical point - and having a consistent denominator means having a formal, consistent deal qualification framework.
When you do, conversion rate optimization becomes a massively powerful tool to improve personal performance, manage a sales team toward success, and to drive revenue.
Let's talk about the key sales KPIs or ratios that you should track and manage, and why conversion rate optimization is one of your most powerful industrial sales levers to pull.
00:00 📊 Close rate is essential for sales success and impacts the overall sales funnel.
00:14 ➕ Improving close rates can significantly reduce the prospecting effort needed to meet sales targets.
00:57 📈 Consistency in measuring closing ratios is crucial; variability in the denominator can skew results.
01:26 ⚖️ The way deals are counted in the pipeline affects the close rate; clarity in definitions is important.
02:20 📋 Using qualified opportunities as a denominator and developing a qualification scorecard helps measure success accurately.
02:49 🧑🏫 Sales managers should actively coach and hold reps accountable to improve conversion rates during pipeline reviews.
03:03 🚀 There are multiple areas for optimization, including deal size, margins, and sales cycle reduction, beyond just close rates.
Helpful Links
ORE™ (Overall Revenue Effectiveness Framework download) -
Industrial Manufacturing Marketing -
Industrial B2B Website
Industrial Sales -
Objective Management Evaluation -
Industrial Sales Recruiting -
Revenue Growth Framework -
Revenue Growth Consulting -
Sales Candidate Assessment -
Industrial Marketing -
Ed Marsh on Twitter -
Ed Marsh on LinkedIn -
Ed Marsh on Instagram -
Ed Marsh on YouTube -
Ed Marsh Consulting, Consilium Global Business Advisors, PO Box 622, Ipswich, MA 01938 (978) 238-9898
#ConversionRateOptimization #ClosingRatio #CloseRate #SalesConversionRate #WinLossRatio #SalesTraining #CloseLikeAPro #HowToCloseSales #HowToIncreaseYourClosingRatio #HowToCalculateYourClosingRatio #WhyCloseRateMatter #WhatIsAGoodClosingRatio #ImproveClosingRatio #CalculateClosingRatio #SalesKPIs #BoostClosingRatio #SalesMastery #WhatIsACloseRate #CloseRatesInSales #SalesMetrics #ClosingTheSale
Музыка
Фильмы
ТВ Шоу
Категории видео
