Driving your win rate higher can be the single biggest factor to beating your sales goals. Even small improvements can lead to millions of dollars in new revenue, without adding any new sales headcount.
For the Top-Performing Sales Organization Benchmark Report, the RAIN Group Center for Sales Research studied what the Top-Performing Sales Organizations—companies that have higher win rates, met their annual sales goal, have challenging sales goals, and achieve premium prices—do differently than The Rest.
One of the key findings was the difference in win rate between performance groups. Across all respondents, the average win rate was as follows:
When we analyzed the win rate by performance, however, we found statistically significant differences between the three performer groups.
Win Rate by Performance:
Elite performers—the cream of the crop—win nearly three quarters of their opportunities. Top Performers win, on average, 62% of the time. The Rest? They only win 40% of their opportunities.
There’s a 43% difference between Top Performers and The Rest. Organization-wide, this can represent hundreds of millions of dollars in additional revenue.
What’s your win rate? How do you stack up?
Guest author, Mike Schultz, is President of RAIN Group, a global sales training and consulting company. He helps companies around the world unleash the sales potential of their teams.
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