Internet Close Percentage Math - Two Formulas?

[Dan Sayer]

I did not use my vendor brain to answer you. This is how I did it at Checkered Flag and how I do it to measure our own advertising at FRIKINtech.

But you're now asking about salespeople.

Other than attribution, I don't think there is a difference in measuring. I would measure a salesperson's close rate based on how many NEW customers (leads/opportunities) they worked vs. how many deals they sold in that calendar month.

@Rob stated it simply.

You both started talking about attribution and closing from an advertising lens LOL. I was looking for just an answer of "Sold from Leads" or "Sold in Timeframe" within the Retail scenario in the post. If the Poll was working, I would have been able to force the simple answer . Looks like you're team "Sold in Timeframe" (within the Retail scenario) from your answer. Thanks @Alex Snyder. Only love coming your way.

 

[ryan.leslie]

I was waiting for @alex to answer so that I could agree with him . That is usually a safe bet.

I agree with you @Rob, I am in the "retroactive changes into eternity is insanity" camp.

That said, I do think that different use cases call for different reports. My vendor brain likes vendor accountability @Dan Sayer .

 

[BillKVMotorCo]

This all seems complicated to me. I believe the numbers usually average out in the end, so I can't say that I understand trying to track which months they come out of. Maybe I'm too basic. I love seeing so many people switching over to DC, though.

 

[Ryan Everson]

Example of our lead reporting dashboard that uses Sold in Timeframe

 

[Ryan Everson]

And a scatter plot that makes it easy to visualize where stores fall in regards to lead volume and sold %.

 

[joe.pistell]

wow, bad a** scatter plot RE. I'll add a twist to this.

UC Product profile leads itself to lead gen. Is a SUPPLY vs DEMAND report*:

Reno NV: 32 Brands • Median Marketshare 1.3%

WINNER:


LOSERS:


WINNER:

Take away: Identical counts of Ford and GMC used create >2x leads vs Hyundai & Nissan

Every market is unique, each marketplace has winners and losers in the lead gen race. The inventory mix can swing lead gen rates, and possibly the closing rates too.


*I made a custom report using CARS Commerce data. Its an eye popper.

 

[Dan Sayer]

And a scatter plot that makes it easy to visualize where stores fall in regards to lead volume and sold %.

View attachment 8268

I made one of these for Internet and Phone for Salespeople. Eye-opening for their managers to see their teams and where they compare. I used the "Impact" awareness that you get from a low volume of leads, low performer vs high volume of leads, low performer. It gave the managers a place to start their coaching on where they were "bleeding". Coach the highest impact/low performers first.