3-Step process to measure sales process effectiveness
Sales process effectiveness can be achieved through right strategies, technologies, and enablers companies leverage to improve sales performance. Sales training, marketing and sales alignment also play an important role in the sales process.
HubSpot’s Aja Frost has shared a three-stage process to achieve sales process effectiveness.
On opp to close rate, Frost says, “How many of your legitimate sales opportunities become paying customers?
This percentage varies by industry. According to HubSpot’s analysis of 8,900 companies across 28 industries, the average close rate for hospitality is 11%, while the average close rate for arts and entertainment is 28%. That’s why it’s important to compare your opp to close rate to other businesses in your space, if you can. However, there are a few universal takeaways you can draw.
If your opp to close rate is really high (think 60% or higher), your salespeople are probably being too selective with the accounts they choose to work. They’re cherry-picking the prospects who are determined to buy — or at least, require very little convincing — and the ones who are nearly perfect fits”.
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