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Know & optimize your sales conversion rate

Updated: Mar 23

The more efficient you, your staff, or your technology can become at converting customer interactions into sales the more money you will make over the same period of time. These factors will help you manage your conversion rate:

Variables that affect conversion rate:

1. Sales performance

2. Sales training / optimization.

3. Optimize product / service value.

How to:

Determine expected sales performance: Evaluate your salesperson's (or platforms) ability to persuade customers to complete the sale during their first interaction by looking at prior results then adjust their sales capacity based on prior performance to show their expected number of sales per time period. For example: If Jane typically closes half of her customer interactions on the first meeting then her expected performance percentage is 50%; apply that percentage to her max capacity of 20 sales per week to arrive at her expected performance of 10 sales per week.

Sales training / optimization: Make sure your employees know how to communicate with a variety of different types of people and how to have a persuasive conversation and ask for the sale without being pushy or rude. If you sell on an automated platform make sure you have the platform optimized for customer experience and you have made it very easy for the customer to complete a transaction.

Optimize product / service value: Make sure your employees are experts on your products and services so they can quickly answer questions and explain how the features of what you sell meets the needs of your customers. Price is part of this - pricing your products / services in line with the value you are communicating to customers is vital.

#sales #salescapacity #maximize