33.6 C
New York
Monday, August 8, 2022

Buy now


How Does Your Close Rate Compare?

Your sales close rate is a number you need to keep a close eye on — out of all the deals in your pipeline, what percentage do you actually close?

Sales close rates let you know how efficient and effective you are as a sales rep. And it’s a good way for managers to measure sales rep and sales team performance. The higher the close rate, the better your rep and team are at converting opportunities in the pipeline into revenue.

Download Our Free Sales Conversion Rate Calculator and Guide

While it’s great to have internal metrics, it’s also good to know how you compare to other sales organizations in your industry — including your competitors’. With industry benchmarks, you can evaluate how you or your team are performing in the overall landscape, which is not only a good reality check but gives you a better understanding on whether improving your close rate is something you need to prioritize now.

Close Ratio

The close ratio is a measure of a salesperson’s efficiency. It’s calculated by dividing the number of closed deals by the number of prospects the salesperson worked with.

Let’s say a salesperson closed 10 deals out of the 40 they were working. The close ratio in this case is 25%.

Once you’ve calculated your close ratio, you can compare it to industry benchmarks and targets.

Sales Close Rate by Industry

To help you figure out where you stand, we analyzed the close rates of over 8,900 companies’ sales organizations across 28 industries and multiple sizes to put together a set of sales close rate benchmarks.

Here are a few sales close rates by industry:

  1. Biotechnology Industry Close Rate: 15%
  2. Business & Industrial Industry Close Rate: 27%
  3. Computer Software Industry Close Rate: 22%
  4. Computers & Electronics Industry Close Rate: 23%
  5. Finance Industry Close Rate: 19%

You can see how you compare using our form-free Sales Close Rate Industry Benchmark tool here.

Check out our Sales Metrics Calculator below, too.

close deals

Source link

0 0 votes
Article Rating
SEO News
SEO News
Search engine optimization (SEO) is the process of increasing the quality and quantity of website traffic by increasing visibility of a website or a web page to users of a web search engine.

Related Articles

Notify of
Inline Feedbacks
View all comments
[td_block_social_counter facebook="tagdiv" twitter="tagdivofficial" youtube="tagdiv" style="style8 td-social-boxed td-social-font-icons" tdc_css="eyJhbGwiOnsibWFyZ2luLWJvdHRvbSI6IjM4IiwiZGlzcGxheSI6IiJ9LCJwb3J0cmFpdCI6eyJtYXJnaW4tYm90dG9tIjoiMzAiLCJkaXNwbGF5IjoiIn0sInBvcnRyYWl0X21heF93aWR0aCI6MTAxOCwicG9ydHJhaXRfbWluX3dpZHRoIjo3Njh9" custom_title="Stay Connected" block_template_id="td_block_template_8" f_header_font_family="712" f_header_font_transform="uppercase" f_header_font_weight="500" f_header_font_size="17" border_color="#dd3333"]
- Advertisement -spot_img

Latest Articles