This checklist is designed to guide the analysis of the sales conversion rate, helping teams identify strengths and weaknesses in their sales process and optimize for better performance.
Specify the time frame for which you want to analyze the sales conversion rate, such as monthly or quarterly.
Collect data on total leads generated, total opportunities created, and total sales closed during the defined reporting period.
Use the formula: (Total Sales / Total Leads) * 100 to determine the conversion rate.
Examine where potential customers are dropping off in the sales process to identify areas for improvement.
Evaluate the sales techniques used during the reporting period to see which were most effective in closing deals.
Gather input from the sales team regarding challenges faced and suggestions for improving the conversion rate.
Create a plan outlining specific actions to address the identified weaknesses and enhance the sales conversion rate.
Establish new conversion rate targets based on the analysis and action plan developed.
Regularly track the conversion rates against the new goals to assess the effectiveness of implemented changes.