How to work out if you are good at sales?
There is a simple model that will help you evaluate how well you are doing in your chosen market, not matter what it is, so here it is.
If what you offer has a market, about 30% of target clients will buy, pretty much no matter what you say to them, so long as you give them some basic feature and they can visualise the benefits for themselves they will part with money, but don’t expect them to be loyal customers, so if you are not selling to these people get out of the market NOW and save yourself the time, money effort and stress.
I must point out that I don’t expect that you easily sell to 30% of your prospects, but if somebody takes action and shows interest in what you do, they should buy as they are just verifying that you re able to do what they have decided they want to buy anyway, so this gives you a 30% closing ratio.
The next 30% of customers you will be interested in buying but you will need to show them the benefits and convince them that you are the right person to buy from, you need to sell to these people but if you are quite good then you can get to a 60% closing ratio.
Now comes the segment of 30% who determine how good you really are and these people have shown an interest but really have no intention of buy, they are “fishing”, as I say to see what they can get away with.
A great sales person can convert some of these people in to customers and fantastic sales person will have a closing rate of over 70%, some as high as 75 or 80%, if you are one of them then you are one of the best and I would love to hear form you.
So where does that leave the remaining 10%, well these people are just wasting your time, but don’t worry about them as that’s just life in sales and the trick here is to use your marketing to get you as pre-motivated and pre-qualified sales prospects as possible and during this process you will put off many of the time wasters.
So here you have it, a way to evaluate your sales performance in any industry and remember any good sales person will never be afraid of goals, structure, evaluation and the rewards that come from being a great sales person.
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