Tips to Improve
Closing Ratio
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Improve Your Lead Response
Did you know that if you contact a lead within 60 seconds, you have 200% higher conversion rate than the second contact? Aim to respond to requests from your website within 10 minutes or less. Return calls within the hour.
Closing Ratio is a metric that measures sales effectiveness. Such metrics are used to evaluate a company’s profits, project revenue, and plan for success.
If you are not tracking your Closing Ratio yet, you should. It is the number of deals you close compared to the number of engaged prospects.
Target Your Marketing Efforts
By targeting your marketing efforts, you make sure you bring the right leads to your sales team. For instance, your online service forms can collect important information about the prospect’s issue or project so you can qualify leads faster.
Build Trust with Your Customers
While you have a customer on the phone, try to learn as much as possible about their issues, frustrations, challenges, and needs. This way, you start building a relationship of trust and people do business with the people they like and trust.
Track Proposal Views and Delivery
Once you send out a proposal, it’s important to know whether your client received it or not and whether they looked at it or not. When you follow up on your proposal via phone, you will have a starting point for your conversation.
Talk to the Right People
Make sure you contact or send your proposal to the right person. If you’re a subcontractor, target the Project Manager or Project Executive with that GC and not the Estimator. In other words, engage the decision makers.
Spend Time Where It Matters
Following up today on a lead that is not ready to be closed is time wasted. Find out when a decision is going to be made so you can follow up at the right time. Set a follow up date and track your sales pipeline by that date.
SOURCES
CREATED BY
iDeal CRM
2%
of sales are made on the 1st contact
10%
of sales are made on the 4th contact
80%
of sales are made on the 7th-12th contact
