Surefire Strategy to Instantly Boost Your Sales Close Rate
Published on October 17, 2024
For the past 12 years, I’ve been on retainer, coaching senior executives at a company. In the first two years, I spotted a major issue: they were sending out far too many proposals.
How did I know?
Their close rate was a dismal 10%. That’s what happens when you’re wasting time on unqualified leads.
So what did we do?
We focused on better qualification. In just two short years, we cut their annual proposals from 650 to 450 and doubled their business.
Why?
Because we freed up their engineers to get into the field, find real opportunities, and create better solutions instead of cranking out endless proposals.
The result?
A significantly higher return on investment.
How do you figure this out for your team?
It starts with a rigorous win-loss analysis. This helps you segment the right prospects and spot the best opportunities.
Think of it like football teams reviewing game tape on Monday mornings to see what worked, what didn’t, and which plays were fumbles. Every sports league does this—why aren’t you?
The stats speak for themselves. Todd Berkowitz, VP of Research at Gartner, says companies that invest in solid win-loss analysis can expect a 15% to 30% increase in revenue and up to a 50% increase in win rates. Now that’s what I call increasing sales with Velocity.
So whether you’re a sales rep or a leader, next time you lose a key deal, don’t shrug it off. Dive deep. Conduct a thorough win-loss analysis. It will stop you from repeating the same mistakes and help you capture those golden opportunities you missed.
If you’re looking to energize your sales team, gain buy-in, and boost their closing rate to 50% or higher, let’s make it happen! Schedule a FREE meeting to brainstorm. https://calendly.com/ronkarr/30min
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Posted in Achieve Results, Sales, Sales Success, Success, Velocity Mindset and tagged business, Leadership, Motivational Speaker, Sales, Success, Velocity Mindset